I am born and raised in a state (Florida) which has had it share of emergencies: tornadoes, hurricanes, wildfires, etc. These are the lessons that my clients and I have learned.
After a big storm, send out a letter to all clients and partners on your projects stating what has happened. This letter should have some detail as to times, events, estimating recovery time, and other items.
After years of operating results, the firm has a track record, clients, personnel, assets, liabilities and other things which calculate into another key number: the value of the firm. Said differently, the market price to buy the firm in its entirety. To a retiring contractor, this is the last important number that they will see as a contractor.
We are not careening off the road as some have suggested. Take note: there are people who benefit from suggesting an extreme situation. Politicians come to mind this year.
We have seen smaller contractors use this type of software. Unless firms manage labor, have inventory, possess an equipment fleet and the like, the software is more robust than needed.
Some close controls are prudent including using Benford's law as a practical double check. This is a first digit law although using the last digit is more applicable to construction.
