Hurricane Helene is one of the biggest storms to have hit the Gulf Coast in years. An analysis done by a scientist at Colorado State University, Helene was larger than almost every storm that has hit the gulf since 1988. Only Opal and Irma were bigger than Helene. The toll in life and property is not small, nor is the disruption of services. There are troubles enough getting help and supplies to impacted areas, so the focus on doing everyday business just isn’t a thing.
To make matters worse, there is a strike going on right now. A big strike that is already impacting supply chains nationwide, and things will only get more strained the longer it lasts.
“The 2024 United States port strike is a labor strike involving over 45,000 port workers who are part of the International Longshoremen’s Association (ILA), impacting 36 ports across the United States primarily along the East Coast and the Gulf Coast.” (Wikipedia)
While there are many people currently facing larger life issues, the entire nation is forced to consider what happens now, and if they weren’t directly impacted by these events, what would they do if they were? It is a bit of a wake-up call for many business owners, because business interruptions can come from all angles, and it is always best to have made at least some attempt at a set of plans for when things happen.
One critical type of plan is about making the business more resilient and better able to recover or adapt. It’s a broad strategic plan that focuses on overcoming unexpected disruptions and adapting to changing conditions or circumstances. This includes addressing business continuity, which is about how operations may be maintained during a crisis. Business continuity planning is part of what makes a business resilient.
The Importance of Business Resiliency
Business resiliency has become a critical factor for success. In today’s rapidly changing world, the ability to stand up to or quickly recover from disruptions is no longer a luxury but an imperative. Resilience means being able to adapt to changes and challenges swiftly, maintaining continuity and minimizing losses. Customers want reliability, so a business that can continue to deliver products and services despite disruptions will build trust and loyalty, leading to long-term relationships and a strong reputation.
A resilient business will have contingency plans for finances, creating buffers to mitigate the impacts of short-term shocks so investments in long-term growth continue. Also, where competitors may struggle to cope, resilient companies may not simply continue to operate but even capitalize on new opportunities that arise from the changing landscape. When a business is prepared for disruptions, it can focus on growth and innovation rather than mere survival.
Technology plays a big role in developing resilience. Cloud solutions can ensure data is backed up and accessible from anywhere, cybersecurity solutions help protect businesses from cyber threats, and automation technologies streamline operations while reducing dependency on manual processes.
Prioritizing resiliency is crucial for small businesses to navigate uncertainties and thrive.
Mendelson Consulting and Noobeh cloud services help businesses of all sizes improve their agility, streamline operations and implement the technologies and services necessary to shore up business and operational continuity and improve overall resilience.
Make Sense?
J
Most folks who start a new business go in to it with a rather naïve belief that a good idea, product, service and/or group of people can be successful just because their idea, product, service or people are good. Unfortunately, that isn’t’t the reality of starting up and running a business. Regardless of how great and innovative the idea is, the business only works if it is sustainable and profitable. Otherwise, it was just a great idea. For many entrepreneurs, developing an understanding of the financial underpinnings of running a company isn’t the most exciting of ideas. The compulsion is to outsource the responsibility to someone else like an accountant or financial advisor. While I completely and utterly agree that every business owner should work closely with their accounting professional and financial advisor, I also 
There are changes in lease accounting rules that may have broader implications than expected. Lease accounting, or accounting in general, isn’t exactly an exciting topic and generally doesn’t come up in conversation. But the changes to how business equipment and other leases are accounted for and reported could become additional fuel for cloud adoption by businesses – small business looking for financing, in particular (= lots).
Business value is generating sustainable cash flow. If you run a highly efficient business, the more top-line growth you deliver, the more cash flow you enjoy. For capital-intensive businesses (either through the need for capital equipment or working capital), growth can actually lower your cash flow and diminish your business value. To understand which side of the equation your client resides, accounting professionals will often look at the return on total assets calculated over time, dividing the operating income for each period from the P&L by the appropriate period values of total assets from the balance sheet. The resulting metric describes how efficiently assets are applied to creating earnings.
Cooper Mann Consulting 