Nuclear Meltdown Prevention Program

Each week I dedicate a few hours of my time evaluating my business situation and plans in order to predict possible problems.  I know a lot of over-worked professionals (especially entrepreneurs!) think they simply cannot dedicate time to something so trivial, especially when the business is running smoothly.  But remember this is more of a preventative maintenance than a reaction to a problem.  I've found these steps immensely valuable and I won't let a week go by without this.  I consider my time to be one of my most valuable assets and this is near the top of the list of important things for me to do.

What could go wrong: After a month's worth of challenges and obstacles I find it easy to remember the problems.  I spend quite a bit of time imagining possible problems in the future of the company (In fact I do this in every situation, for example we're considering buying a house and I'm maintaining a list of possible problems with the house and the deal).  I consider all the moments where I was stressed, all the nightmare stories I've heard, in fact I often jot down these as my week goes along.   After I've written the list I take a couple minutes and rate the problems on a 4$ scale with $ being a little expensive to $$$$ meaning "holy crap, we're going out of business" expensive!  When in doubt I go with the worst-case scenario.  This month's list goes something like this:

1. Employees could quit - $$
2. Customers could fail to pay a bill on time - $$
3. Equipment could break - $$$
4. We could fail to pay insurance bill - $$$$

What's Next: Prevention and planning.  This is the point where you go through your list and take steps to prevent every one of these possibilities and design a plan to deal with the aftermath if you aren't able to prevent the disaster.  My list looks like this:

1. Talk with each employee.  Ask if they have any questions, concerns or greivances.  Remind them of my open-door/e-mail policy.  Build a file of resumes of potential employees and sort in order of qualifications.
2. Contact customers to discuss satisfaction.  Make sure each bill lists the  due date.  Implement an automatic reminder system on the due-date.  Calculate the amount in dollars and percent of business controlled by each customer to understand potential losses.  Continue to pursue additional clientele to minimize individual effects.
3. Make sure all equipment has a maintenance schedule and it is being carried out properly.  Ensure funds are dedicated for maintenance.   Check equipment for signs of wear or leakage.  Evaluate the reliability of the brand of equipment.  Search for equipment rental locations and availability in order to have a back-up plan.
4. Check the company calendar for automated reminders regarding each payment and their is a double or triple check system in place to prevent problems.  Discuss with an agent the options for making this easier (i.e. can we automate payments?) and check with other companies to find out if this could be easier elsewhere.

Remember: You could spend months planning for every possible contingency, just a s NASA does for every space mission, but you simply cannot predict it all.  I spend time planning for my list of possible meltdowns and working to prevent problems where I can control it, but I don't stress over it at all.  In fact, planning makes me feel much more in control because I've done my due diligence.  Once you're done with the Nuclear Meltdown Prevention Program put it aside and enjoy the rest of your day! <-- Some days I have to remind myself to do this.  Thinking about disaster for too long can have a negative effect that nobody wants.