Covid-19 Business Advice to Founders

An interesting note sent to Sequoia Capital founders and CEOs to provide guidance on how to ensure the health of their business while dealing with the effects of the coronavirus, at ScaleUp Group we are available to help UK Tech ScaleUps during and after the COVID-19 crisis.

Some key points (quoted) from the article:

We suggest you question every assumption about your business, including:
            – Cash runway
            – Fundraising
                        What would you do if fundraising on attractive terms proved difficult in 2020-21?
            – Sales forecasts
                        Deals that seemed certain may not close
            – Marketing
                        With greater economic and fundraising uncertainty, you might even want to
                        consider raising the bar on Marketing ROI
            – Headcount
                        Can you do more with less and raise productivity?
            – Capital spending

Having weathered every business downturn for nearly fifty years, we’ve learned an important lesson: nobody ever regrets making fast and decisive adjustments to changing circumstances. In downturns, revenue and cash levels always fall faster than expenses.

In some ways, business mirrors biology. As Darwin surmised, those who survive “are not the strongest or the most intelligent, but the most adaptable to change.

Read the full article here via Medium

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