How to Survive a Business Heart Attack Part 3 Video

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How to Survive a Business Heart Attack Part 3

Ivy Hartman: Becoming a major artery to your small business shutdown can be like suffering a heart attack. But we found three small business owners in Midwestern City who are willing to share their stories of survival as a major highway shutdown right outside their businesses. Schneithorst has been around since 1956, and has become a local landmark. Steve Stockhausen: We were really kind of land locked with what we had, so we’re just dealing with it on a day to day basis and that’s what we pretty much did. As our customers, our loyal customers did keep coming in which was great, but I would hear stories of them in traffic where it took them five minutes in normal conditions to get here, taking 45 minutes to an hour. Ivy Hartman: Prior to the highway shutdown, this independently owned coffee house, restaurant, and bar try to prepare by printing maps with alternate routes for their customers. Steve Stockhausen: Well, it worked well from the perspective that the guest know how to get to us with the alternative routes that we gave them, however, the downside was traffic, the alternative routes have much more traffic on the road, so it made it difficult for guest to get to us. Pete Nettle: Business is back. We had a slow time when the highway shutdown and it’s like somebody opened the gates, they’re all back. We’re happy. Ivy Hartman: Pete Nettle Salon remained resilient during the highway closure. The traffic outside of Nicole’s actually increased as drivers used the road in front of his business as an alternate route. Pete Nettle: When the highway was closed, it was such a mess, and it’s so difficult for them to get here. Some made other choices as where to go. If you have a long term relationship with somebody, you might try somebody, one of your friend say, “Go to my person, they do a good job.” And you try it but you’re not comfortable because this is a very personalized service. Suzy Shepard: For at least three years and I’ve been coming here to get my nails done, getting here became our problem but I’m so loyal that I was not going to come because I just really love this salon, so I had to create new ways of getting here. Ivy Hartman: Schneithorst and Nicole’s relied on their loyal customer based during the 12 month construction period, but PoPtions is a relatively new business and have been opened less than a year when the major highway that brought traffic from all over the region shutdown for repairs. Founder and owner Andrew Freundlich employed some different strategies throughout the year to help keep sales popping. Andrew Freundlich: The year went pretty good. I think the highway did have an impact on our business. There were customers that just couldn’t be bothered hassling with coming here without the access from the highway. We did a number of marketing things and we traded our product for radio advertising particularly during the holiday period with excellent results. I’ve initiated a bounce back program, we handed our coupons during the holiday period to customers that were in the stores as well as gifts that we shipped. We include the coupons in there. They are good online, come back and they’re good in January, February, March so we’re hoping to drive traffic during the first quarter to customers who purchase our product during the November and December period. Ivy Hartman: So what if something unexpected does happen and you don’t have the luxury of preparing for a business interruption? Insurance commissioner Sandy Praeger suggests business interruption coverage. Sandy Praeger: When you’re business is put out a business, for example some sort of a natural catastrophe, you still were going to have bills to pay. That business interruption coverage will help you get through that period of time until you can get your business up and running again. Ivy Hartman: Looking back these entrepreneurs have some advice for small business owners who might have to experience something like this. Steve Stockhausen Good luck because it’s a really tough situation to deal with. I would say how we dealt with it we suffered through it. Andrew Freundlich: It’s managing your inventory very tightly, watching your controllable expenses, and being strategic and how you do your marketing and advertising. Pete Nettle: I would have made people more aware earlier. I didn’t think we’ll just be that bigger deal. I would this, if you do a good job you’ll make it to anything that happens. I really believe that. Ivy Hartman: I’m Ivy Hartman reporting for SBTV.com where small business is our only business.

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Ivy Hartman: Becoming a major artery to your small business shutdown can be like suffering a heart attack. But we found three small business owners in Midwestern City who are willing to share their stories of survival as a major highway shutdown right outside their businesses.

Schneithorst has been around since 1956, and has become a local landmark.

Steve Stockhausen: We were really kind of land locked with what we had, so we’re just dealing with it on a day to day basis and that’s what we pretty much did. As our customers, our loyal customers did keep coming in which was great, but I would hear stories of them in traffic where it took them five minutes in normal conditions to get here, taking 45 minutes to an hour.

Ivy Hartman: Prior to the highway shutdown, this independently owned coffee house, restaurant, and bar try to prepare by printing maps with alternate routes for their customers.

Steve Stockhausen: Well, it worked well from the perspective that the guest know how to get to us with the alternative routes that we gave them, however, the downside was traffic, the alternative routes have much more traffic on the road, so it made it difficult for guest to get to us.

Pete Nettle: Business is back. We had a slow time when the highway shutdown and it’s like somebody opened the gates, they’re all back. We’re happy.

Ivy Hartman: Pete Nettle Salon remained resilient during the highway closure. The traffic outside of Nicole’s actually increased as drivers used the road in front of his business as an alternate route.

Pete Nettle: When the highway was closed, it was such a mess, and it’s so difficult for them to get here. Some made other choices as where to go. If you have a long term relationship with somebody, you might try somebody, one of your friend say, “Go to my person, they do a good job.” And you try it but you’re not comfortable because this is a very personalized service.

Suzy Shepard: For at least three years and I’ve been coming here to get my nails done, getting here became our problem but I’m so loyal that I was not going to come because I just really love this salon, so I had to create new ways of getting here.

Ivy Hartman: Schneithorst and Nicole’s relied on their loyal customer based during the 12 month construction period, but PoPtions is a relatively new business and have been opened less than a year when the major highway that brought traffic from all over the region shutdown for repairs.

Founder and owner Andrew Freundlich employed some different strategies throughout the year to help keep sales popping.

Andrew Freundlich: The year went pretty good. I think the highway did have an impact on our business. There were customers that just couldn’t be bothered hassling with coming here without the access from the highway.

We did a number of marketing things and we traded our product for radio advertising particularly during the holiday period with excellent results. I’ve initiated a bounce back program, we handed our coupons during the holiday period to customers that were in the stores as well as gifts that we shipped. We include the coupons in there. They are good online, come back and they’re good in January, February, March so we’re hoping to drive traffic during the first quarter to customers who purchase our product during the November and December period.

Ivy Hartman: So what if something unexpected does happen and you don’t have the luxury of preparing for a business interruption? Insurance commissioner Sandy Praeger suggests business interruption coverage.

Sandy Praeger: When you’re business is put out a business, for example some sort of a natural catastrophe, you still were going to have bills to pay. That business interruption coverage will help you get through that period of time until you can get your business up and running again.

Ivy Hartman: Looking back these entrepreneurs have some advice for small business owners who might have to experience something like this.

Steve Stockhausen Good luck because it’s a really tough situation to deal with. I would say how we dealt with it we suffered through it.

Andrew Freundlich: It’s managing your inventory very tightly, watching your controllable expenses, and being strategic and how you do your marketing and advertising.

Pete Nettle: I would have made people more aware earlier. I didn’t think we’ll just be that bigger deal. I would this, if you do a good job you’ll make it to anything that happens. I really believe that.

Ivy Hartman: I’m Ivy Hartman reporting for SBTV.com where small business is our only business.

Transcription by: Scribe4you Transcription Services