There is no denying it: having a business continuity plan can and does give your business a competitive edge. Infrascale reports that an astounding three out of four businesses get a failing grade for disaster recovery. When you establish a robust business continuity plan, you shield yourself from risks that many of your competitors are likely exposed to. Considering the cost of an hour of downtime for a small company is roughly $8,000, if you can get yourself up and running in the aftermath of a large-scale disaster like a hurricane or mass power outage quicker than a competitor, it is a major advantage.
Ultimately, investing in a business continuity plan means giving your business an advantage over the competition. It ensures you’re protected from costly downtime and demonstrates a commitment to deliver no matter what happens, which is an important way of attracting and retaining customers. Just put yourself in your customer's shoes: do you sign the contract with the business that has a business continuity plan, or the one that doesn't?