{"id":502,"date":"2020-06-18T12:37:07","date_gmt":"2020-06-18T12:37:07","guid":{"rendered":"https:\/\/thejuntoinstitute.com\/shop\/?p=502"},"modified":"2020-12-25T20:06:06","modified_gmt":"2020-12-25T20:06:06","slug":"webinar-recording-notes-how-were-saving-our-small-business-from-near-failure-a-second-time","status":"publish","type":"post","link":"https:\/\/thejuntoinstitute.com\/shop\/webinar-recording-notes-how-were-saving-our-small-business-from-near-failure-a-second-time\/","title":{"rendered":"How We&#8217;re Saving Our Small Business from Near-Failure&#8230;A Second Time"},"content":{"rendered":"[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; bg_image_animation=&#8221;none&#8221;][vc_column_text]\n<div 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sqs-block-image sqs-text-ready\" data-block-type=\"5\">\n<div id=\"yui_3_17_2_1_1606306641479_93\" class=\"sqs-block-content\">\n<div id=\"yui_3_17_2_1_1606306641479_92\" class=\" image-block-outer-wrapper layout-caption-below design-layout-inline combination-animation-none individual-animation-none individual-text-animation-none \" data-test=\"image-block-inline-outer-wrapper\">\n<figure id=\"yui_3_17_2_1_1606306641479_91\" class=\" sqs-block-image-figure intrinsic \">\n<div id=\"yui_3_17_2_1_1606306641479_90\" class=\" image-block-wrapper has-aspect-ratio \" data-animation-role=\"image\">\n<div id=\"block-decd3f75a3621fcbfaf5\" class=\"sqs-block html-block sqs-block-html\" data-block-type=\"2\">\n<div class=\"sqs-block-content\">\n<article id=\"article-5d07eaa13e0f0100013fea0e\" class=\"hentry author-raman-chadha post-type-text\" data-item-id=\"5d07eaa13e0f0100013fea0e\">\n<div id=\"yui_3_17_2_1_1606307443557_98\" class=\"content-wrapper\">\n<div id=\"yui_3_17_2_1_1606307443557_97\" class=\"post\">\n<div id=\"yui_3_17_2_1_1606307443557_96\" class=\"body entry-content\">\n<div id=\"item-5d07eaa13e0f0100013fea0e\" class=\"sqs-layout sqs-grid-12 columns-12\" data-layout-label=\"Post Body\" data-type=\"item\" data-updated-on=\"1560800079504\">\n<div id=\"yui_3_17_2_1_1606307443557_95\" class=\"row sqs-row\">\n<div id=\"yui_3_17_2_1_1606307443557_94\" class=\"col sqs-col-12 span-12\">\n<div id=\"block-bc9878d8742736006876\" class=\"sqs-block html-block sqs-block-html\" data-block-type=\"2\">\n<div class=\"sqs-block-content\">\n<article id=\"article-5ee3c909fb25a344d44b854d\" class=\"hentry author-raman-chadha post-type-text\" data-item-id=\"5ee3c909fb25a344d44b854d\">\n<div class=\"content-wrapper\">\n<div class=\"post\">\n<div class=\"body entry-content\">\n<div id=\"item-5ee3c909fb25a344d44b854d\" class=\"sqs-layout sqs-grid-12 columns-12\" data-layout-label=\"Post Body\" data-type=\"item\" data-updated-on=\"1591986508671\">\n<div class=\"row sqs-row\">\n<div class=\"col sqs-col-12 span-12\">\n<div id=\"block-ab17ecdaaff45d78c459\" class=\"sqs-block html-block sqs-block-html\" data-block-type=\"2\">\n<div class=\"sqs-block-content\">\n<article id=\"article-5ee4fd7cc7d20c58c27df532\" class=\"hentry author-raman-chadha post-type-text\" data-item-id=\"5ee4fd7cc7d20c58c27df532\">\n<div class=\"content-wrapper\">\n<div class=\"post\">\n<div class=\"body entry-content\">\n<div id=\"item-5ee4fd7cc7d20c58c27df532\" class=\"sqs-layout sqs-grid-12 columns-12\" data-layout-label=\"Post Body\" data-type=\"item\" data-updated-on=\"1592065376008\">\n<div class=\"row sqs-row\">\n<div class=\"col sqs-col-12 span-12\">\n<div id=\"block-298a17938456527c9dc7\" class=\"sqs-block html-block sqs-block-html\" data-block-type=\"2\">\n<div class=\"sqs-block-content\">\n<div id=\"block-875622be5ec46c267f61\" class=\"sqs-block html-block sqs-block-html\" data-block-type=\"2\">\n<div class=\"sqs-block-content\">\n<p class=\"\">On June 18, 2020, we held a webinar featuring Nick Sarillo of Nick\u2019s Pizza &amp; Pub &amp; The Trust &amp; Track Institute.<\/p>\n<p class=\"\">Nick discussed how he nearly lost two high-grossing and profitable restaurants in 2011. He also shared his emotional experiences of facing bankruptcy, tapping into the company\u2019s strengths to bring it back to life, and battling complacency as a second virus.<\/p>\n<p class=\"\">Below is a recording of the webinar.<\/p>\n<\/div>\n<\/div>\n<div id=\"block-cdd2586decb078899e9f\" class=\"sqs-block video-block sqs-block-video\" style=\"position: relative; height: auto; padding: 12px 17px; clear: both; color: #3d3d3d; font-family: Merriweather; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 300; letter-spacing: 0.28px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial;\" 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height: 345.667px;\" data-html=\"&lt;iframe src=&quot;\/\/www.youtube.com\/embed\/lLIv44MZt2c?wmode=opaque&amp;enablejsapi=1&quot; height=&quot;480&quot; width=&quot;854&quot; scrolling=&quot;no&quot; frameborder=&quot;0&quot; allowfullscreen=&quot;&quot;&gt;&lt;br\/&gt;&lt;\/iframe&gt;\" data-provider-name=\"YouTube\">\n<div class=\"intrinsic\">\n<div class=\"intrinsic-inner\"><iframe loading=\"lazy\" id=\"yui_3_17_2_1_1606307816884_102\" src=\"https:\/\/www.youtube.com\/embed\/lLIv44MZt2c?wmode=opaque&amp;enablejsapi=1\" width=\"854\" height=\"480\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"block-b6a22bef8656b6046d09\" class=\"sqs-block html-block sqs-block-html\" data-block-type=\"2\">\n<div class=\"sqs-block-content\">\n<h2>To learn about upcoming webinars,<br \/>\nsubscribe to our mailing list.<\/h2>\n<\/div>\n<\/div>\n<div id=\"block-469dcd8d518ae3d4e4f4\" class=\"sqs-block code-block sqs-block-code\" data-block-type=\"23\">\n<div class=\"sqs-block-content\">\n<div id=\"hbspt-form-1606307817489-394683893\" class=\"hbspt-form\"><iframe id=\"hs-form-iframe-0\" class=\"hs-form-iframe\" width=\"615.328125\" height=\"318\" scrolling=\"no\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<div id=\"block-9521a4bb84c3472da5c5\" class=\"sqs-block horizontalrule-block sqs-block-horizontalrule\" data-block-type=\"47\">\n<div class=\"sqs-block-content\">\n<hr \/>\n<\/div>\n<\/div>\n<div id=\"block-21bfa4897c59c74069da\" class=\"sqs-block html-block sqs-block-html\" data-block-type=\"2\">\n<div class=\"sqs-block-content\">\n<h1><strong>SUMMARY NOTES<\/strong><\/h1>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">Background of Nick\u2019s Pizza and Pub<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">Owned for 25 years<\/p>\n<\/li>\n<li>\n<p class=\"\">One of the top independently owned restaurant<\/p>\n<\/li>\n<li>\n<p class=\"\">Highly profitable<\/p>\n<\/li>\n<li>\n<p class=\"\">Invested heavily in team with training and development as well as values<\/p>\n<\/li>\n<\/ul>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">First crisis in 2011 (Elgin)<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">The issue:<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">Post recession (had done okay in recession)<\/p>\n<\/li>\n<li>\n<p class=\"\">Became harder at the end of recession<\/p>\n<\/li>\n<li>\n<p class=\"\">Major supercenter coming nearby restaurant in Elgin<\/p>\n<\/li>\n<li>\n<p class=\"\">Road construction had larger impact than anticipated<\/p>\n<\/li>\n<li>\n<p class=\"\">Lost about 50% of sales during summer (busiest time)<\/p>\n<\/li>\n<li>\n<p class=\"\">Needed to make it to Oct 1 with center opening, but not really making it<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p class=\"\">\u00a0The approach:<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">A couple of weeks left of payroll in projection<\/p>\n<\/li>\n<li>\n<p class=\"\">Wrote email to guests about closure (against advice of professionals, but team behind the idea)<\/p>\n<\/li>\n<li>\n<p class=\"\">Brought wave of support from community, for several weeks with 110% increase in sales, able to continue business<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p class=\"\">The lesson:<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">Cash flow king<\/p>\n<\/li>\n<li>\n<p class=\"\">Communication<\/p>\n<\/li>\n<li>\n<p class=\"\">Team was the value, they had created it with guests<\/p>\n<\/li>\n<li>\n<p class=\"\">Live to values<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p class=\"\">Second crisis in 2019\/2020<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">The issue:<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">Third restaurant in Chicago not successful has to close<\/p>\n<\/li>\n<li>\n<p class=\"\">Partnered with individual prepared to buy debt of Chicago restaurant closing and take over business and allow Nick to focus on new business of Trust and Track<\/p>\n<\/li>\n<li>\n<p class=\"\">Individual funding fell through, unable to buy business<\/p>\n<\/li>\n<li>\n<p class=\"\">Caused business to file Chapter 11 to restructure<\/p>\n<\/li>\n<li>\n<p class=\"\">Pandemic hits and shuts down restaurant<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p class=\"\">The approach:<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">Pivot to more carry-out and different menu<\/p>\n<\/li>\n<li>\n<p class=\"\">Mind-set shift<\/p>\n<\/li>\n<li>\n<p class=\"\">Involve the team for decisions<\/p>\n<\/li>\n<li>\n<p class=\"\">Put processes and standards to new protocols (e.g. curbside hostess)<\/p>\n<\/li>\n<li>\n<p class=\"\">Able to keep about 60% of normal revenue and keep team employed and bring them back as they are able to open (without a PPP loan)<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p class=\"\">The lesson:<\/p>\n<ul data-rte-list=\"default\">\n<li>\n<p class=\"\">Trust in your team<\/p>\n<\/li>\n<li>\n<p class=\"\">Pivot\/adapt<\/p>\n<\/li>\n<li>\n<p class=\"\">Extremely value driven, team is empowered to make decisions<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>[vc_row type=&#8221;in_container&#8221; 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