It is commonly believed that the macro sentiment in India today is probably worst it has been since 1991. But is also said that downturns are the best times to build great businesses.
The secular growth trend of per-capita consumption is not slowing down & and the need for both physical and institutional infrastructure has never been greater. So to my friends working and founding startups, here is a simple message: Always Be Doubling Down.
Fundraising environment getting tight? Double down and think of how to stretch your money further.
Raised a round of money? Double down and make sure you allocate it intelligently.
Had a great quarter? Double down and understand with your team what worked and put resources behind the good initiatives.
Had a bad quarter? Double down with your team and figure out the root causes so that you can immediately take corrective action.
Macro economy slowing down? Double down and figure out growth segments within your customer base.
Employees leaving the company en-masse? Double down and figure out the management issues quickly.
Employees staying back and showing commitment? Double down and think how you can add value back to them.
Customers taking time to adopt your product/service? Double down and figure out new market segments.
Customers love your product and scaling fast? Double down and figure out scalability issues so product/service quality does not get affected.
Being part of a startup is like running a series of sprints to finish a marathon and the only way to survive is to have the energy & passions to keep coming back at it every single day. Here's to building some great businesses in the middle of this maelstrom. ABDD!
(Dhiraj Kacker is CEO & Co-founder of Canvera.com, an online Digital Photography company based out of Bangalore.)
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