SUMMARY: Entrepreneurs who started new ventures soon after Sept. 11 — or who led businesses through that tumultuous time — learned powerful lessons about how to keep their companies going during an unthinkable crisis.
Put Employees First
Rosina Rubin and her husband, Jeff Rose, run a chauffeured transportation service, Attitude New York. As the company's revenue dropped 20% in the three months after Sept. 11, they did some soul-searching.
“Jeff looked at me and said, 'Is this our value to society: providing high-end ground transportation to the expense-account crowd?' “ she recounted in an email.
The couple soon concluded that beyond serving the customers in the backseats of the limos, the long-term survival and value of their business depends on keeping the drivers in the front seats as well as the support staff employed and satisfied. As the economy stagnated, the entrepreneurs made a commitment to not lay people off, but rather to eliminate waste.
The result: During the rebound, they had a full team to help them grow. They took the same approach after the recent financial crisis. Attitude New York, which had 50 employees in September 2001, now has 67.
Rest of Generation 9/11 business lessons article here.
Source: Crain's New York Business