Redundancy and Fail-Safes Part 2

>> Thursday, June 24, 2010

What do you do when a service you depend upon evaporates?

Think of all the parts to your business.  Think of the suppliers, vendors, services, contractors, and other cogs that mix together to create the value that is your business.

--You lose your electricity.  What do you do?

--You lose your water supply.  What do you do?

--Your key supplier sends an email that they are going out of business.  What do you do?

I faced a similar situation last week.  A software system I had grown dependent on announced that they were bought out by Twitter and that the service I used may be discontinued.  Luckily, they gave me notice so that I could search out a new service.

Had they just turned out the lights, I would have been OK as I keep backups.  It has got me thinking though.

How about your business?  Were can you build redundancies?

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Scott Simmonds fixes broken insurance, uncertain coverage, and painful premiums. He consults on, but never sells, insurance.

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