SBDC September 2011: Should you Persevere or Pivot?

Small Business Connections September 2011

Welcome to Small Business Connections!

The Illinois Small Business Development Center at Waubonsee Community College is here to serve your small business needs. We offer free business counseling to entrepreneurs and business owners, as well as a variety of small business workshops.

Call us today at (630) 906-4143 to learn how we can help you start or grow your business.

Small Business Spotlight

Johnny K's Restaurant

Kristy Seyller and her brother Johnny Hornick are the owners of Johnny K's, a Chicago style fast food restaurant in Sandwich, IL. They came into the IL SBDC at Waubonsee in January 2011 for guidance on expanding their business. Now that they have moved into their new space and experienced success, we asked them to tell us the story of their business.

Q: What motivated you to start the business? And then, what motivated you to purchase the new building, expand and move?

A: I worked at a deli and enjoyed making food. I just finished college and was looking for a job. My brother really wanted to own a business one day. We were both at a point in our lives where we were willing to take the risk, so we opened the doors on July 2, 2003 and haven't looked back. We purchased the new building this year because our former location was going to be torn down due to the widening of Rt 34. We were looking for new places for the past few years. We got very lucky at what we found.

Q. Do either of you have any restaurant background? What past experiences helped you be successful in business?

A. Neither of us have had any restaurant experience. I believe it is one of the hardest businesses to start and keep going. The only restaurant background I had was making sandwiches and working at a golf course (bartending) and watching how the kitchen was run. John took some business classes in college and had some knowledge about how the business aspect was run. I think we have been successful partly because we take in the criticism. We try to listen to suggestions and go with it. Sometimes it works and sometimes it doesn't. All suggestions are welcome.

Q. Business partnerships, especially family partnerships often experience conflicts between the partners. What has made your partnership work, and what challenges have you faced in this regard?

A. My brother and I have always been close. I believe that we lasted as partners because we started so young. I was 23 and he was 25. We had nothing to lose. We also work because we are complete opposites. He is much more laid back than I am and I'm much more of a "let's get it done" kind of attitude. It has had it's ups and downs with being so different, but it works for us. Through out the years we have definitely learned to listen to one another and each others ideas.

Q. What are you most proud of about your business accomplishments?

A. My biggest and proudest moment is when I walk into the door of our new place. I pinch myself everyday. I can't believe that we started our business in a 900 square foot building and now I have 5100 square feet. We came from having this building 50 + years old to owning a new beautiful building. The fact that we were able to do that is my proudest accomplishment.

Q. How has business been since the move? Has the new location had any impact on your customers?

A. Business has been amazing since the move. We have tripled our business. At our new place we have 120 seats, so we have seen a lot of new people. We have had a lot of positive feed back especially from our regular customers from the other place. We moved just a quarter mile down the road and it blows my mind how location really does play a huge part.

Q. What advice would you share with others who want to start a business?

A. The advice I would give anyone starting a business is location is key. Hire a good staff and believe in your product. Start small so you don't get over whelmed. There's always room to grow. It's a tough business, but always keep your head high and always have a smile on your face.

IL SBDC News and Events

Save the Date!

The Entrepreneurship Connection - Retail Roundtable

Our fifth Entrepreneurship Connection event will be held on October 13, 8-11 a.m. at the Waubonsee Aurora Campus. This event will be a Retail Roundtable, featuring keynote speaker Nicole Reyhle, founder of Retail Minded. Nicole has been recognized by Forbes.com as a thought leader in Retail. View the event flier for more information.

Reserve your seat at Waubonsee Tickets today!

Biz Buzz

Persevere vs. Pivot

If your business is getting killed by competition, languishing with the roller coaster economy, or just not catching hold like you thought it would, it can be hard to decide what to do next. In some cases, it's a matter of controlling Persevere vs. Pivot costs, fine tuning the marketing, and staying the course - persevering. In others, it may be time to change course - pivot in a new direction.

Market changes and technology advances are just a couple reasons that more businesses need to pivot their business to stay relevant to their customers. Did you know that Nintendo used to make playing cards, Sony made rice cookers, and Nokia made rubber boots? These are some examples of businesses that pivoted their plan to stay competitive.

So how do you know if you should persevere or pivot? Keep a close eye on your competitors and your customer base, and stay tuned in to trends in your industry, customer buying behaviors and technology. Try out new products or services, and attend industry trade shows to see what's new. And above all, talk with your customers.

The benefit to being a start-up or small business is that you can change direction easier and faster than larger companies. The danger is that you might be tempted to do it all the time. If/when you decide it is time to pivot, make sure you do your due diligence. Update your business and marketing plan and a financial forecast. Call the IL SBDC at Waubonsee for help.

SBDC Client Press Corner

The Olive Gallery in Yorkville has expanded their business! Their additional space also allows them to expand their offerings to include an expansive olive bar, Galena Garlic Company's Spice Blends, gourmet teas by Tiesta Tea Company, and other specialty items and giftsets. Visit them online or in store to check out these new products in addition to their signature infused olive oils and vinegars!

Do you have something noteworthy happening at your business? We hear lots of exciting news from our clients, so we launched this new section in our newsletter to help you spread the word. If you have something memorable you want to share, email us and we'll help you spread the news!

Biz Bitz

25th Annual Entrepreneurial Woman's Conference

The 25th Annual Entrepreneurial Women's Conference, Women's Business & Buyers Mart--the oldest conference and business opportunity fair for women in business in the country, and the premier event for women business owners in the Midwest--will be held on September 14, 2011 at McCormick Place in Chicago. Join over 2,000 participants as they network and learn how to take their business to the next level. For more details, visit www.wbdc.org or call (312) 853-3477 ext. 240.

10 Business Start Up Hurdles

Starting and successfully running your own business in the face of daunting failure rates can be very intimidating. In addition to having a strong but flexible business plan, entrepreneurs need to anticipate problems and helpful ways to get through them. Check out these ten solid survival tips to help you stay on track and endure the first few years.

Choosing a Restaurant Space

If you are thinking about opening a restaurant, have you given Restaurant Business Essentials thought to your space? Read up on these five things to consider while in the planning stages of your food business.

The IL SBDC will also be offering a Restaurant Business Essentials workshop this Fall! Our instructor will outline everything from licensing to daily operations to finding and designing your location. Find more information or register at Waubonsee Tickets today!

Get Smart: Small Business Workshops at Waubonsee

Starting Your Business in Illinois

Tuesday, Sept. 13, 6 - 9 p.m., $30 (Sugar Grove)

Thursday, Oct. 13, 6 - 9 p.m., $30 (Plano)

Wednesday, Nov. 16, 6 - 9 p.m., $30 (Aurora)

Tuesday, Dec. 6, 6 - 9 p.m., $30 (Aurora)

Is Franchising Right for You?

Thursday, Sept. 29, 6:30 - 8:30 p.m., $30 (Aurora)

Social Media Marketing for Business

Tuesday, Oct. 4, 6 - 8 p.m., $30 (Aurora)

Google for Business

Thursday, Oct. 20, 6 - 9 p.m., $30 (Aurora)

Register at Waubonsee Tickets

Marketing for Small Business

Wednesday, Sept. 21, 6 - 9 p.m., $30 (Aurora)

Fearless Selling for Women

Tuesday, Sept. 27, 9 a.m. - 12 p.m., $49 (Aurora)

Register at Waubonsee Tickets

Step Into Retail

Thursday, Sept. 15, 6 - 9 p.m., $30 (Aurora)

Register at Waubonsee Tickets

Restaurant Business Essentials

Monday, Oct. 10, 6 - 9 p.m., $30 (Aurora)

Register at Waubonsee Tickets

Small Business Tax Basics Workshop

Wednesday, Oct. 26, 9 a.m. - 12 p.m., $30 (Aurora)

Register at Waubonsee Tickets

Check seminar details for the full list, class descriptions, locations, ticket numbers, and pricing. To sign up, complete and submit the registration form. For additional information call the Illinois SBDC office at (630) 906-4143.

Don't forget that the IL SBDC has moved into the new Waubonsee Community College Aurora Campus. Make sure to check the updated directions and parking information.

QuickBooks and Excel

A variety of QuickBooks and Excel classes are available to meet your small business accounting needs. Click here for complete class descriptions, locations, dates, times and costs.

Illinois SBDC at Waubonsee Community College

Funded in part through a cooperative agreement with the U.S. Small Business Administration and Department of Commerce and Economic Opportunity. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA or DCEO.