When Superstorm Sandy hit nearly a year ago, many local enterprises were directly in its path.  Their operations were disrupted, their inventory destroyed, their staff stranded, their spaces and equipment ruined.  Unfortunately, some enterprises were unable to recover.  And even for those who could weather the storm—both physically and financially—the past year has been a rebuilding one.  But in spite of the challenges, New York City enterprises are thriving.  In this month’s Enterprise Insight, we profile Brooklyn Slate, which has come back strong since Sandy, to explore how they prepared, rebuilt, and are looking ahead to this year.

Founded and operated by Brooklynites Sean Tice and Kristy Hadeka, Brooklyn Slate sells slate cheese boards and coasters using slate from Kristy’s family’s quarry upstate, as well as cheese knives, high-end sweets, and pantry items.  In addition to their wholesale business, Brooklyn Slate has seasonal outposts and a Red Hook retail storefront.  They were just moving in to the Red Hook location when Sandy hit.  In the storm, they lost significant inventory, experienced construction setbacks, and had to work double-time to prepare for the upcoming holiday season and open the store.  Below, we share some of Sean’s lessons-learned and advice for other enterprises about how to be prepared for the unthinkable.

1)    Assess Your Risk and Adjust Accordingly

Whether you are opening a new location or even just doing an annual enterprise assessment, it is important to reassess your risks and insurance needs on a regular basis.  In their old location, Brooklyn Slate did not have much risk of flooding, said Sean, so the enterprise did not have flood insurance.  “So when we moved, we didn’t even think about it.”  It is much harder to get a policy such as flood insurance after you or your area experiences a risky event, so stay ahead of the game and maintain regular contact with your insurance agent to keep your policy current.

2)    Have an Operating Plan for Contingencies

Even though New York shut down in the wake of infrastructure failures, business nationwide proceeded as usual. “We can’t stop operating,” said Sean. “Even if a storm comes through here, we still have to get product out.”  With their office destroyed and their staff unable to travel to work, Sean and Kristy took matters into their own hands and created a temporary office in their apartment.  They realized that, in the future, having a contingency plan no matter the situation will minimize confusion and downtime so that they can continue operating as normally as possible.  “Have some plan in place to respond accordingly no matter what may happen,” advised Sean.

3)    Take Charge of Your Financial Preparedness

Make sure your enterprise has working capital for an emergency, as you will still have some operating expenses to cover even though you may not be able to open your doors.  Furthermore, insurance may not cover the full extent of your damage.  And while many volunteer organizations launched commercial recovery efforts, the only way to ensure your enterprise is prepared is to prepare yourself.  “You really can’t rely on grants and such,” said Sean.  Coming into this year, they are focused on “having that rainy day fund always being there, just in case.”

4)    Communicate and Work with Other Enterprises

Sean said communicating with other enterprises—from fellow owners to vendors and suppliers—was key during the initial aftermath of the storm.  When it came to accounts payable, Brooklyn Slate was able to negotiate for extra time to minimize the impact of the storm on their cash flow.  Suppliers may not realize the extent of your disruption, so let them know your situation and ask for a way to work together.  Furthermore, they gained valuable support from other local enterprises.  “Everyone was suffering in some way,” said Sean. “So talking to one another is really important.”

5)    Connect with the Community

Let your guests know when you are open again after a disruption.  After the storm, “no one knew who was open,” said Sean, which hurt businesses regardless of how they were affected.  Ask loyal guests to spread the word through social media that you are open again, support your rebuilding efforts with more frequent visits, and bring friends along.  Knowing your guests are excited to see you come back will also be a huge boon to your outlook and your staff morale.

This year, Brooklyn Slate is still seeing sales growth and plans to return to the Union Square Holiday Market.  And after opening their Red Hook space in April 2013, they are back in the swing of business.  “Now things feel pretty normal,” says Sean, although they are of course preparing for “the slim but definite possibility that it could happen again. It’s 100% worth it…to prepare.”

No matter the obstacle, your enterprise can be prepared with some operational and financial planning to minimize disruptions and get back on track as quickly as possible.

Happy preparing…TaraPaige Group.