We are in a situation, where even airplanes are not flying across the country.
For a startup founder, it is difficult to even run the business, what to think of growth. I am sure that by now, some of the founders would have reduced costs, learned to work from home, engaged with the customers etc. This may not be sufficient to come out of this phase.
What more can we do?
- Invest heavily in skill-building for team members as well as self through online courses. This is critical for engaging and motivating the teams.
- Find alternative business models, which are not dependent on physical infrastructure. With the change in the expectations of the customer, many of your current products may have become irrelevant. Hence, it is better to start launching new services/products right away.
- Find a new customer segment, which may be looking for your offerings. You may have ignored some segments due to excessive growth in your current business. You may reach out to them with the right pricing/product.
- Celebrate smaller wins more than what you are used to.
- Keep yourself ultra motivated at all times. Your teams need your energy and an enervated leader would kill the morale and the business eventually.