Operating in the Dark
For many startups today feel like they are operating under dark skies.?It’s supposed to be hard - you’re changing the world.
Reflecting on the last three quarters :
Startups have parted with colleagues to extend runway in a difficult fundraising market.
Some have significant balance sheets & discovered the ostensible product-market fit isn’t as strong as the business may have believed.
Muted valuation multiples have replaced the neon pink sticker price valuations of the early 2020s.
Customers’ buying?processes have slowed, creating pipeline shocks that challenge sales forecasting.
Cost reduction matters more than other value propositions which has required both product & marketing shifts to meet the market.
The M&A & IPO markets are quiet.
This is the part of the startup cycle that’s the grit-your-teeth grind.
Some startups focus on product development. Others focus on?winning competitive share by investing in sales & marketing.
Having that focus enables companies to continue to execute through the dark skies & maintain a level of urgency in the organization throughout the storm to be well positioned once the rain abates.
Seasoned HR Technology Entrepreneur and Investor ??Transforming Business with Transparent Leadership and People-Centric Strategies
1 年This is great ??. Aspiring startups need to make sure they welcome failure as a stepping stone to progress, and also surround themselves with uplifting and supportive influences. These things are KEY to navigating the world of entrepreneurship.
Tech Executive, General Counsel, Investor/Advisor
1 年It’s also a good time for combining adjacent technologies to deliver a more compelling solution to customers. Like dbt Labs combining with Transform. I expect we will see many more private-to-private mergers like this one.
SaaS Company? I’ll rewrite your vague landing page into a clear, conversion-focused page in 7 business days.
1 年It's true Tomasz Tunguz, the startup journey can be challenging, but staying focused and persevering through the dark skies will eventually lead to brighter days.?
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
1 年Thanks for Sharing.
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1 年Most should think again, or their investors should - especially as latest figures show 90% average failure rate. Modern thinking should be leaning towards bringing in all round individuals who are a heady combination of founder/creative/technician/leader/people person/data analyst - and above all, commercial. Agencies and consultants don’t cut it - specialist rather than generalist - and often no execution or added value. If this were to happen failure rates would be sure to drop. People who’ve had companies over many years, who’ve had failures as well as successes and who know how to provide ?tough love“ are more than ever needed. What do you think Tomasz? Is this worth thinking about? Can you see this as a positive revolution? ??