How To Survive During An Economic Downturn
November 26, 2008If you’re involved in the operation/management of a startup, you’ve already heard a bunch of advice over the past couple of months. Much of this advice can be summed into about two words: Reduce Expenses.
I did a bit of paraphrasing (there are lots of variations and extensions to this, but it’s close enough). The advice is intended to accomplish one thing: give you more “runway” so that you can survive the down-turn. Overall, I think this idea of increasing the time that you can continue to operate your startup is a pretty good thing to solve for. The more time you have before you run out of cash, the higher your chances that you’ll actually succeed. I’ve said this about long-term startup strategy before:
