How to keep your company alive
Emailed on April 3rd 2020 in The Friday Forward
For businesses who may be cashflow negative, whether before or after shelter-in-place rules went into affect, you're looking at making major pivots in your business.
Steve Blank penned a piece this week called, "How to Keep Your Company Alive - Observe, Orient, Decide, and Act" that is worth the read for any business owners.
Your company’s survival in this downturn can be captured in a simple formula.
Survival = (speed of your understanding of the situation) x (the magnitude of the pivots/cuts/lifeboat choices you make) x (the speed of your time to make those changes)
Blank's 5-day playbook to help CEO's of cash-flow negative companies:
Day 1: Prepare An Assessment of the Internal and External Environment
Day 2: Iterate the assessment with your investors/board
Days 3 and 4: Prepare new business model and operating plan
Day 5: Iterate with investors/board
