How to Lead Your Startup During the Economic Downturn (part 2)

Tech startups have not been immune to the recent economic downturn. Many have been put in a position where fundraising will be next to impossible, so they need to find other ways to survive the dark economic winter until spring arrives. But there’s no reason why any startup leader can’t find a way to guide their company through these difficult times. For startup leaders looking for a little help, Midstage Institute co-founders Roland Siebelink and Doug Miller have put together a two-part podcast in which they discuss what startup leaders can do during the current downturn and how to lead during lean times. The second part of their conversation shares practical steps on how to cut costs in the short term and position your startup to thrive when the dark times are over. Why it’s critical to focus on the parts of your business that are generating cash in the short term. The steps to take before you start to lay off employees. Why it’s vital for companies to only have one round of layoffs, even during a downturn. How to know what employees should be let go if layoffs become necessary. How reducing costs by 1% each month can make a huge difference over time. How to create flywheels that can be ready to take off and thrive once economic conditions improve.