If your startup is running out of runway, stop trying to just push through. Take action with this contrarian view by focusing on finding revenue that is hidden in plain sight.
The day started like any other. I woke up early, did my yoga, and brewed my favorite mint tea. I made my commute across the hallway to my home office, excited for a day full of meetings. In my first Zoom, my client was in a panic. Sales orders were slow in closing, and the reality of a cash crunch was imminent. This client had a healthy pipeline of projects, but also had long sales cycle lead times, and multi-year projects. As a result, there was no sign of revenue hitting their bank any time soon. Trying to mitigate the lack of revenue, the company was considering doing a “cost down”. A cost down reduces the amount of money that they spend on wages, production, etc. to increase their bottom line. At face value, it’s a strategy that makes sense.This content is available to subscribers only. Subscribe now or log in if you are already a subscriber.