Has the Coronavirus outbreak made you rethink your startup strategy? These are going to be testing times for all businesses, both big and small. That’s why we thought we’d share this article with you by Karan Mehandru for Forbes.
Karan is the ‘Early Stage VC’ at Trinity Ventures, who are experts at building and nurturing startups from the ground up. With over three decades experience in helping entrepreneurs navigate the uncertainties of running a startup, their advice is particularly valuable to businesses during this current climate.
The article “Coronavirus Changes Everything: Five Strategies To Help Your Startup Find Its New Normal” was pieced together thanks to Karan spending time on countless calls with portfolio and non-portfolio CEOs. They offered their experienced opinions on how to navigate your startup strategy during these difficult times.
- Now is not a time to be in denial
- Reassess your operating plan
- Risks of being underprepared
- Strong leadership
- Communicate with empathy
Many great companies have emerged from downturns stronger than ever. So have great ideas. In 1665 the University of Cambridge closed due to the Bubonic Plague, and its student Isaac Newton was forced to work at home for over a year. He used that time to work on mathematical problems which led to early calculus. And there, sometimes sitting under a now-famous apple tree, he developed his seminal theories on optics, gravity and motion. Maybe your company’s own ‘apple falling’ moment lies in the months ahead.
Click the link below to read Karan’s piece on how to craft your startup strategy during the Coronavirus outbreak.