This Business News Story Was Uncovered By Us From: https://blog.eonetwork.org/2020/07/how-to-manage-a-startup-through-troubling-times/
The nature of this article, that was first tracked down by our team of editors, will offer the reader, if you Opt to look into this topic of interest, more closely, to get get a far greater understanding on this Field of study. For other similar articles just like this one, that digs deeper into the points being referred to, please go to our blogs home page – that can be reached by going to: https://blognews.turnkeywebpublishing.com. Where you will Learn of real solutions, to the challenges and information overload you face as an entrepreneur.
Contributed by Rizwan Virk, author of Startup Myths and Models: What You Won’t Learn in Business School.
The pandemic of 2020 has tested most sectors of the economy. Like the downturns in 2008 and 2001, this has been a very trying time for entrepreneurs running startups.
Many entrepreneurs are reliant on outside funding, whether angel investors, venture capitalists or strategic investors, to keep the venture going. At the same time, many investors are being more cautious with making new investments, preferring to focus on their existing portfolio before investing in new companies.
While not all entrepreneurs are in the middle of raising funding, the need to get the company to some level of profitability, or at least to increase the runway, creates a lot of stress. It turns out that this is even true for a number of entrepreneurs I know who had profitable enterprises before the pandemic. Suddenly, the pipeline of customers that were expected to close was becoming smaller and smaller.
While some level of stress is inevitable if you are running a startup, times like this can ramp up the stress factor considerably. At stake is not just your own livelihood, but the livelihood of everyone who works for you.
I interviewed a number of prominent VC’s and entrepreneurs for my recent book. Here is advice I collected for dealing with the stress of running a startup:
1. Remember that you are not alone.
Brad Feld, a partner at Foundry Group and investor in many successful startups, gave me this piece of advice. I can personally attest that it’s very easy for a startup CEO to feel alone and isolated. This only makes the stress build up inside you.
Brad says: “Talk to people you trust, whether they’re investors, board members, co-founders, m… Read More
Our massive resource of training tutorials which are Fully free to access, is your essential training hub to Dig up precisely how to generate income streams from numerous niches and web startup ventures. Our blog portal is full of valuable tips , tools and undercover top news stories, to help build and grow your online startup – step by step: by showing you how it is done – with expert analysis in uncovering Unseen, untapped goldmines, that you can setup for long term success.
