December 24th, 2008 by Nathan Kaiser
A day late and a dollar short. So, entrepreneurs are supposed to go out and raise as much money as they possibly can? How does that make sense over three months since the collapse of the capital markets? Great idea. Too bad, it wasn’t shared you know, when it could have been useful.
While we wish Max Levchin the best of luck with Slide, are we supposed to believe that he read the writing on the wall and happened to raise all that money before the market fell out from under everyone?
Seriously, the advice entrepreneurs need now is how to weather the storm. Some simple suggestions:
- Lower all possible costs
- Focus on bringing in revenue, whether by selling directly to customers or partnering with a larger service
- Ensure that you have the right team, that they are dedicated, and scrappy enough to execute with smaller budgets
- Don’t waste time reading the above articles.
