REALITY CHECK

Before jumping right into reopening or continuing your business after any disaster, you should do a 'reality check'. Such a reality check should be focused on whether you really want to restart or continue your business, and if you do want to continue your business, do you want it to be the same as prior to the disaster. While business owners may not be ready for such a 'reality check', it should be undertaken at some point.

You might need the help of a trusted adviser, such as your accountant to help you make these decisions.

To see how other businesses have responded to a disaster, we interviewed the owners of a caravan park that was flattened by a tornado. That disaster prompted them to evaluate their business model and change the direction of their business. They now run a successful resort. Read the case study.

Reality check checklist (PDF, see page 15)