Innovation at Its Finest

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Over the past year and-a-half, many small business owners have faced unforeseen difficulties, difficulties that have threatened the lives of their businesses.  Through these times, small business owners have become more innovative than ever in the quest to keep their businesses alive.  For some this has meant revamping an entire business.  For others, it has meant getting a merchant cash advance for the first time.

Here are some stories of small business innovation and perseverance from all over, that stood out over the past year.

Repairing with Repairs

In May 2009, Brian Burnsed of Business Week wrote about Shelley Investments, which owns two car dealerships and an automotive repair shop.  “[The management] worried that the stalling economy would send their new car sales screeching to a halt,” wrote Burnsed.  After seeking advice from MBA students through a program offered at Pepperdine University, the company learned that they could keep sales from slipping too far by putting more emphasis on their repair services, as fewer people were willing to buy new as the economy worsened.

The company took the advice and their sales remained steady.

Catch Me if You Can

Owners of Kogi Korean BBQ, which started out as a lone traveling truck, used twitter to build a customer base.  Six months after the business’s opening, “…patrons lined up for their $2 tacos sometimes for two hours…” wrote Meredith Maines for Inc.  This was due to a “Marco-Polo-esque chase for chow.”

A Local Splurge

CNN profiled six small businesses that created “grassroots stimulus” initiatives.  One of the six small business owners profiled was a pharmacy owner who handed out $16,000 in bonus money to his staff, all in $2 bills and told them to give 15% to charity and spend the rest locally.