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Great Entrepreneurs Build Value and Market-Share in Down Markets
By: Jeremy Geelan
Jan. 21, 2009 09:15 AM
Two days before the single largest drop in the history of the stock market, Jason Calacanis - former Weblogs Inc. co-founder (and GM of Netscape) - wrote a lengthy blog post aimed at inspiring folks at startup companies "to get focused and to save as many as possible from hitting the wall." As Calacanis reminded readers of his blog, "Great entrepreneurs build value and market-share in down markets."
"I would plan for the worst – if it turns out to be not as bad, you can always hire and grow, but if it turns out to be as bad as people fear, you won’t be able to get back the cash you overspent."
Kertzman - a Managing Director at Hummer Winblad and who founded and was CEO of Powersoft, which merged with Sybase in February 1995 - acknowledges that every company is different, of course. "If you have customers, product and a repeatable business model," he adds, "I’d just be conservative. If you haven’t got any of those three, I’d hunker down to make sure you survive when the market develops or returns."
This advice is something he passes on in these turbulent times:
"Although cost controls are important in a downturn, I believe it is even more important to get revenue control. This requires a very tactical approach to staying alive through a few strategic deals."
Keene then zeroes in on an action plan that will resonate with anyone and everyone reading this article:
"What big strategic deals can you personally close to keep your company afloat? What professional services engagements can you sign to help pay for your staff? Who are the customers who are most dependent on you and how can you team with them to deliver concrete value to them while continuing to evolve your product."
See next page for Recession-Beating Advice from Jeff Haynie, Founder & CEO of Appcelerator; John Crupi, CTO of JackBe; Anthony Franco, President of EffectiveUI; Chris Heidelberger, CEO of Nexaweb; and Jason Calacanis, former Weblogs Inc. co-founder (and GM of Netscape)
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