It’s a fact of life; mistakes happen, problems arise. It’s no different in business. Unlike personal crises, a crisis in business often plays out in public.

Bad press and/or a damaged public perception can be devastating to a business. However a well-managed crisis will not only protect hard-earned credibility, it can garner favorable press and improve the reputation of a business. Two critical preparations are essential: define a crisis communication team and develop a crisis communication plan.

A crisis communication team should be comprised of a team of public relations specialists and two key company officers. This team will formulate a detailed plan in the event of a possible crisis. They will organize all information that is delivered to the media and designate a primary spokesperson. Each member’s responsibilities and authority should be clearly defined. Generally, all employees or stakeholders should not have media contact.

The crisis communication team will arrange for access to a crisis site, accommodate the media’s needs, arrange third-party assurances that the company’s actions are appropriate, prepare press releases and post Web-announcements. The crisis communication team should also manage all internal communication and provide updates to employees. Employees must receive information from the crisis communication team, rather than hear it through the media. Remember, the press may attempt to entice any employee to speak.

Additionally, a useful crisis communication plan should contain updated company policy guidelines, a press kit, a general prepared statement that projects a responsible image, and a series of talking points for potential crises that can be identified in advance.

Recognize the importance of contacting the media first. Do not wait for the media to contact the company; decide to go public if the team deems it necessary. All subsequent media inquires should be received by a public relations specialist. Retain a company officer to be available to the media. They must be fully informed prior to each media contact.

Maintain honest and friendly relations with key media operatives. Although it is natural to be protective of your business during a crisis, closing down communications is more harmful than helpful. It is in your business’s best interest to facilitate media efforts and be a positive influence on any story the media develops. Make sure that any information provided to the media is accurate and answers the basic “who, what, when, where and how.” It could take some time to answer “why.” Never say “no comment.”

An essential part of developing positive, strategic relationships with key reporters and editors is simply thinking in terms of the their needs and what appeals to their audiences.

Here are a few tips on how to develop these key relationships and make the most out of your media opportunities.

1. Become a guru on behalf of your industry. Let reporters know that they can rely on you for timely feedback on issues, even if the story doesn’t exclusively feature your company.

2. Focus on receiving quality media coverage. Determine where your efforts should be focused, in terms of your strategic objectives and how they relate to the needs of key media outlets.

3. Support your high value coverage with lower profile opportunities, such as announcing the promotion of a key employee or the acquisition of a new contract.

4. Use your agency as a sounding board for generating or testing story ideas. Your new service or product could be a gold mine in the eyes of a particular publication, so work with professionals who can make informed suggestions—and make effective pitches to the media.

5. Always respond to reporters’ requests in a timely manner and respect their deadlines. By promising information and missing deadlines you risk the chance for receiving future coverage. You can also risk losing opportunities to a competitor by not responding in time.

6. Prepare your message in advance of conducting interviews and determine what information you are willing to disclose. Consider information such as revenue figures, information about your customers, vendors or competition. Make sure your message puts you in the best possible light.

7. If there are sensitive issues that reporters are likely to inquire about (remember, they are just doing their job), have an answer prepared that clearly and truthfully addresses the question and contains only information that you are comfortable giving.

8. Never respond to a question with “no comment,” and never preface a statement with “off the record.” While some reporters may put their pencils down, there is no reason to risk leaking information that ought to be kept confidential.

9. Give meaningful insight to the audience, without overwhelming them with industry jargon or too many facts and figures.

10. Treat reporters with the same respect that you would treat your current and prospective customers. After all, reporters determine whether your story is worthy of receiving exclusive exposure to their audiences.