Wednesday, November 26, 2008

Practical Advice for Entrepreneurs/Startups

Here (InstigatorBlog). Lots of good reference links as well. In looking back at the development of our business, if I could do one thing differently it would be to defer investments made in the hopes of winning more contracts, in favor of booking orders first, managing expectations and spending the money after.

Unless you've been under a rock for the past few weeks, you know that it's time to batten down the hatches and it would seem to be nearly consensus opinion that we are heading into 2 years of recession (or possibly worse, but I'm an optimist). This is probably a good time to also do some introspection (Datawocky). While Mr. Rajaraman prefaces his post with that his advice is for VC startups, I beg to differ. For startups there are three possible outcomes: success, failure or zombiehood - "If you are a company founder, and you are considering layoffs to extend the runway (perhaps on the advice of your venture investor), you should look at yourself in the mirror and ask whether you are cutting away your growth opportunity and just choosing a lingering death over a quick one."

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