Risk Management and the Booking Koala Outage: Why creating redundancies and backup systems matters

For a small business risk management often takes a back seat or is not even considered. It comes in many forms:

- Putting too much reliance on an employee / office manager only to have them leave and leave you in a state of crisis.

- Letting third party companies and service providers build and be primary owner of your critical digital assets like your Google Business Profile, your web hosting, your domain, your login to the back end of your site, etc.

- And in this case, putting all your eggs in one basket being your primary scheduling and customer management platform, aka POS (Point-of-Sale).

The outage at Booking Koala is not the first, nor will it be the last. At some point software goes down, it gets hacked, Amazon Web Services goes offline, etc. The information era we live in allows us to build, create and do things at a level of efficiency never before seen in all of human history.

But when you place your critical business functions in the hands of technology with lots of moving parts and dependencies, and do not have systems and processes in place for when that technology goes down, it can result in devastating losses.

Hope for the best; prepare for the worst.

Risk management is a major component of core business fundamentals and is ignored at your peril. The devastation to many business owners being down for even just a day, let alone two weeks or more provides for opportunities to assess vulnerabilities within their organization, develop ways to mitigate downtime, and come out stronger and more prepared on the other side.

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