How to Get a Mentor - Tedx Talk from Ellen Ensher
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A contingency plan doesn’t sound like what you would discuss with friends over cake and coffee, but it’s an essential part of any actual plans you make. You may need one (or more) for your business, school project, or even a family vacation. The biggest problem with making a contingency plan is that people often aren’t sure about what to include in it. Here is a handy guide for you to make a comprehensive one.
What is a contingency plan?
A contingency plan is a set of actions that you will take when something unexpected happens. Think of it as a backup plan, or a Plan B. It should have instructions that you can follow when your original plan doesn’t work out due to changes in the situation.
A contingency plan prepares you to deal with any future troubles you may encounter, and gives you some sort of escape route out of any accident.
What happens if you don’t have a contingency plan?
If something goes wrong with your Plan A unexpectedly, or if accidents force you to change your current plan, chances are you will panic. Especially if you’re not well prepared to deal with contingencies, you probably can’t think straight enough to come up with the solution you need at that moment. You won’t know what to do.
What’s worse, until you’re able to get the situation under control, business can’t go back to normal. You’ll have to fix the trouble and make new plans.
Video: How to Find a Good Trading Coach or Mentor! 👨🏻🏫
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