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This market we\u2019re in is anything but stable.\u00a0 It seems like we went from \u201cgrowth at any cost\u201d to \u201cefficient growth\u201d at any cost, and it\u2019s got me thinking\u2026\u00a0<\/span><\/p>\n <\/p>\n What goes up does come down, but how far down have we really come?<\/span><\/p>\n <\/p>\n With so many feeling the pain in tech, it\u2019s important to take a breath and think about why.\u00a0 The market was frothy, we trained a lot of people to be \u201cone-trick ponies,\u201d and the expectations and outcomes weren\u2019t sustainable.\u00a0 It was bound to correct sooner or later.\u00a0 And here we are.<\/span><\/p>\n <\/p>\n I want to be clear on something: there\u2019s a BIG difference between validation and correction.\u00a0 And even though it may be tempting because it\u2019s the soup du jour, you don\u2019t have to course-correct what isn\u2019t broken.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Just because you may be swarmed with messages about cutting back, stop, think, breathe, and take a <\/span>hard<\/i><\/b> look.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Revenue and retention solve all problems.\u00a0 Your business speaks the loudest.\u00a0 It\u2019s critical to measure what matters to stay the course to show up for your market, buyers, customers, and team.\u00a0\u00a0<\/span><\/p>\n <\/p>\n The one constant thing is change.\u00a0 How can you use the forces the market is throwing at you to your advantage?\u00a0 Nassim Taleb wrote a book called \u2018Antifragile\u2019 that speaks to the core of this idea.\u00a0\u00a0<\/span><\/p>\n <\/p>\n If you put something fragile in a box and shake it, it\u2019ll break. <\/span><\/p>\n <\/p>\n If you put something strong in a box and shake it, it\u2019ll stay intact.<\/span><\/p>\n <\/p>\n If you put something anti-fragile in a box and shake it, <\/span>it\u2019ll get stronger.<\/b><\/b><\/p>\n <\/p>\n This is a stress test for your business.\u00a0 And history has shown us that through every difficult time, there are longer periods of growth and expansion.\u00a0 Those that power through difficult times are those that:<\/span><\/p>\n <\/p>\n <\/p>\n How can you use this opportunity to grow and innovate so that when things shift, you\u2019ll be poised to flourish like never before?<\/span><\/p>\n <\/p>\n This is when great leadership emerges, and businesses are made.\u00a0 Here\u2019s what you can do to rise up to the challenge. <\/span><\/p>\n <\/p>\n <\/p>\n Growth at any cost, efficient growth at any cost, FOMO, fear-based indecision\u2026 these ultimately hold your business back.\u00a0\u00a0<\/span><\/p>\n <\/p>\n If that\u2019s all you\u2019re benchmarking to check the \u201csuccess\u201d box, then you\u2019re missing the bigger picture. <\/span><\/p>\n <\/p>\n Instead of relying on funding to keep the momentum going, waiting for that perfect person to arrive, fooling yourself into thinking big hires to propel your business forward are on the back-burner, making deep cuts that will set you back, mute the noise and double down on what really matters and drives a business forward: alignment, your people, customers, profitability, sustainability, responsible growth, and retention.\u00a0\u00a0<\/span><\/p>\n <\/p>\n And know what got you here will most likely not get you to the next big milestone.<\/span><\/p>\n <\/p>\n Money is helpful, but it doesn\u2019t fix what\u2019s broken if you\u2019re core is rotten.\u00a0 You\u2019ll just throw good money after bad if you don\u2019t address the root of the problem.\u00a0\u00a0<\/span><\/p>\n <\/p>\n There\u2019s no time like the present to hone in on what will drive sustainability over the long term\u2026 for your business.\u00a0 Not trying to keep up with everyone else\u2019s.\u00a0\u00a0<\/span><\/p>\n <\/p>\n <\/p>\n For starters, it\u2019s an excellent time to re-evaluate what growth means for your business.\u00a0 <\/span><\/p>\n <\/p>\n Just because something worked great in a bull market doesn\u2019t mean it will translate to a down market.\u00a0 That\u2019s why you must take an intentional, honest hard look at your company to understand what path you need to take to keep your eye on the prize for:<\/span><\/p>\n <\/p>\n <\/p>\n It comes down to 3 simple (but not easy things):<\/strong><\/p>\n <\/p>\n <\/p>\n This will take iterations to get right.\u00a0 So don\u2019t assume that you\u2019ve got it all figured out just because a bit of success comes your way.\u00a0 More than ever, keep your finger on the pulse and double down on your strengths, understand your weaknesses, solve your gaps, pinpoint your opportunities, don\u2019t ignore your threats, and be ready to adapt. <\/span><\/p>\n <\/p>\n Before you jump to follow the leader to lay people off, measure what matters for YOUR startup. Just because poorly run, over-leveraged startups are facing the end of the party, this doesn\u2019t mean you are.\u00a0<\/span><\/p>\n <\/p>\n Don\u2019t forget to take inventory of your company resources.\u00a0 <\/span>Economic downturns typically mean resource scarcity<\/span><\/a>.\u00a0 You want to ensure your resources are maximized and being spent in meaningful ways that can provide a demonstrable ROI.\u00a0 Now isn\u2019t the time for high-risk experimentation or underutilization.\u00a0\u00a0\u00a0<\/span><\/p>\n <\/p>\n <\/p>\n\n
Avoid an extreme mindset.<\/b><\/h2>\n
What to focus on now<\/b><\/h2>\n
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Leading through uncertainty<\/b><\/h2>\n