I do not envy the small business owner who has to make sense of the broad terms that are used to describe technology infrastructure.
The cloud is abstract enough. But the term "private cloud" is even worse. Luckily, it's a phrase that looks to have seen its day in the limelight.
Here's what does make sense. Build on what you have already done to make your organization better prepared for the disruptions that could always possibly occur.
For example, consider how you can use a virtual environment to make your business more secure. Many businesses have consolidated to some extent and virtualization has helped them do that.
The next step may be to develop a disaster recovery plan. We've seen what happened in Alabama and Japan. It's important to consider how your company may survive a major disaster. That might mean connecting your physical servers with a cloud infrastructure.
So don't worry about terms like "private cloud." It makes more sense to have a plan that actually protects your business and keeps resources available for the work you really need to do. And that means making sure your organization has a virtual infrastructure that has a plan for backup and recovery in case crisis ever does strike.