Comments on: Startup in a downturn? Are you crazy? http://blog.truereckoning.com/?p=51 Making Strategic Direction a Reality Thu, 29 Oct 2009 18:54:52 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: Yung Wu http://blog.truereckoning.com/?p=51&cpage=1#comment-62 Yung Wu Tue, 14 Apr 2009 15:56:57 +0000 http://blog.truereckoning.com/?p=51#comment-62 Perhaps a contrary point of view for most that are out there, but definitely one that seems to be shared on this forum !! I believe that this type of market and economic environment is a very exciting time to bet on entrepreneurs, and will eventually be quite beneficial to their businesses. Gone are the days, especially in the B2B environment, when customers can afford to ignore a "better mousetrap" (especially where they drive in-year cost reductions or productivity improvements), or make "safe" decisions to choose inferior offerings just because they come from bigger brands where one is protected in the event of failure -- there is NO room for failure now. Yes it is a tough environment in which to acquire new customers, service products, meet commitments and to raise financing. On the other hand, entrepreneurs and business builders are uniquely positioned to use the harsh environment to succeed -- we've always had to bring adaptability, innovation and hunger every day, even in the good times to build our businesses. Now, those same qualities should result in a lot more airtime with our stakeholders, while multinational competitors are busy internally focused on retrenching, cutting overhead, reducing trade credit from 60 days to 15 days, etc. etc. Long live the entrepreneur, and Never Fu@#ing Quit !!! Perhaps a contrary point of view for most that are out there, but definitely one that seems to be shared on this forum !! I believe that this type of market and economic environment is a very exciting time to bet on entrepreneurs, and will eventually be quite beneficial to their businesses. Gone are the days, especially in the B2B environment, when customers can afford to ignore a “better mousetrap” (especially where they drive in-year cost reductions or productivity improvements), or make “safe” decisions to choose inferior offerings just because they come from bigger brands where one is protected in the event of failure — there is NO room for failure now. Yes it is a tough environment in which to acquire new customers, service products, meet commitments and to raise financing. On the other hand, entrepreneurs and business builders are uniquely positioned to use the harsh environment to succeed — we’ve always had to bring adaptability, innovation and hunger every day, even in the good times to build our businesses. Now, those same qualities should result in a lot more airtime with our stakeholders, while multinational competitors are busy internally focused on retrenching, cutting overhead, reducing trade credit from 60 days to 15 days, etc. etc. Long live the entrepreneur, and Never Fu@#ing Quit !!!

]]> By: Jay Thaker http://blog.truereckoning.com/?p=51&cpage=1#comment-46 Jay Thaker Thu, 12 Mar 2009 05:42:32 +0000 http://blog.truereckoning.com/?p=51#comment-46 I agree with almost everything here... it is definitely an ideal time to startup, especially if your startup is one that provides a paid service (unlike a twitter/fb). In fact, joining a startup right now, during it nascent stage, could be extremely wise as well - the founders might just be more flexible and willing to accommodate you and your ideas much better. Good post Rick, though this is my first read here, but i'll sure keep coming back for more. :) I agree with almost everything here… it is definitely an ideal time to startup, especially if your startup is one that provides a paid service (unlike a twitter/fb). In fact, joining a startup right now, during it nascent stage, could be extremely wise as well – the founders might just be more flexible and willing to accommodate you and your ideas much better.

Good post Rick, though this is my first read here, but i’ll sure keep coming back for more. :)

]]> By: Anthony Testa http://blog.truereckoning.com/?p=51&cpage=1#comment-43 Anthony Testa Tue, 10 Mar 2009 17:46:41 +0000 http://blog.truereckoning.com/?p=51#comment-43 Good post Rick , interesting discussion ..... Downturn markets force the cream of the crop to the top...It forces you to look at your product offering and really fine tune what those are. It forces you to find new ways to shorten sales cycles and new and creative ways to reach out to your target markets. Good post Rick , interesting discussion …..

Downturn markets force the cream of the crop to the top…It forces you to look at your product offering and really fine tune what those are. It forces you to find new ways to shorten sales cycles and new and creative ways to reach out to your target markets.

]]> By: True Reckoning Blog » Is your Startup in Trouble? What now? http://blog.truereckoning.com/?p=51&cpage=1#comment-38 True Reckoning Blog » Is your Startup in Trouble? What now? Mon, 09 Mar 2009 00:59:17 +0000 http://blog.truereckoning.com/?p=51#comment-38 [...] Startup in a downturn? Are you crazy? [...] [...] Startup in a downturn? Are you crazy? [...]

]]> By: Rick O'Connor http://blog.truereckoning.com/?p=51&cpage=1#comment-35 Rick O'Connor Wed, 04 Mar 2009 14:39:49 +0000 http://blog.truereckoning.com/?p=51#comment-35 Thanks for the feedback Mike. Indeed, in these times more than ever, staying close to the market and your customers is critical. If you drift away, even for a short time, you'll pay dearly for it. Focus, focus, focus and never shy away from asking for that initial P.O. early and often. That is the ultimate test to discover how much your customers value your product. No lame ducks allowed! Thanks for the feedback Mike. Indeed, in these times more than ever, staying close to the market and your customers is critical. If you drift away, even for a short time, you’ll pay dearly for it. Focus, focus, focus and never shy away from asking for that initial P.O. early and often. That is the ultimate test to discover how much your customers value your product. No lame ducks allowed!

]]> By: Mike Warren http://blog.truereckoning.com/?p=51&cpage=1#comment-34 Mike Warren Tue, 03 Mar 2009 22:35:56 +0000 http://blog.truereckoning.com/?p=51#comment-34 Hi Rick, We are glad that we are not trying to start a company now. Having stated that, we have discovered that a few trends appear to be emerging. Mission critical work that might have once been outsourced offshore is now being outsourced locally. Time to market, quality of design, proximity and actual cost have become important again. Locality to the customer allows immediate support by phone, email, or on-site. There are no “night-and-day” time zone or communication barriers. It pleases me a great deal to see that you have found your niche. Albeit, I recall that you have always been able to aim ahead of the duck! Hi Rick,

We are glad that we are not trying to start a company now. Having stated that, we have discovered that a few trends appear to be emerging. Mission critical work that might have once been outsourced offshore is now being outsourced locally. Time to market, quality of design, proximity and actual cost have become important again.

Locality to the customer allows immediate support by phone, email, or on-site. There are no “night-and-day” time zone or communication barriers.

It pleases me a great deal to see that you have found your niche. Albeit, I recall that you have always been able to aim ahead of the duck!

]]> By: Alex Kilgour http://blog.truereckoning.com/?p=51&cpage=1#comment-33 Alex Kilgour Tue, 03 Mar 2009 15:23:50 +0000 http://blog.truereckoning.com/?p=51#comment-33 Great post Rick and great comments! To me, the number one reason to start your business in a downturn is the same as it is when times are good - there's no more rewarding and liberating experience than creating something from nothing and making your idea reality. It's only more rewarding if you can accomplish it when times are tough. Keep the posts coming! Great post Rick and great comments! To me, the number one reason to start your business in a downturn is the same as it is when times are good – there’s no more rewarding and liberating experience than creating something from nothing and making your idea reality. It’s only more rewarding if you can accomplish it when times are tough. Keep the posts coming!

]]> By: Dave Dabbah http://blog.truereckoning.com/?p=51&cpage=1#comment-29 Dave Dabbah Sat, 28 Feb 2009 20:42:12 +0000 http://blog.truereckoning.com/?p=51#comment-29 Really enjoed the post and thread. I can say as a vet of the dot com wars that developing new services in a down economy is even more challenging then in a up economy, however u really can make a huge difference by customizing your services to meet your clients specific needs. Try not to walk away from any revenue opps. Really enjoed the post and thread. I can say as a vet of the dot com wars that developing new services in a down economy is even more challenging then in a up economy, however u really can make a huge difference by customizing your services to meet your clients specific needs. Try not to walk away from any revenue opps.

]]> By: Nancy Romaovitch http://blog.truereckoning.com/?p=51&cpage=1#comment-28 Nancy Romaovitch Fri, 27 Feb 2009 16:42:11 +0000 http://blog.truereckoning.com/?p=51#comment-28 Rick: Awesome insights! I have been in the business for 15 years and even I learned something new. There is business out there for everyone and operating smart and lean during times of change is always best. Make a plan, follow the course and be flexible to changes in the marketplace, because it might just be a bumpy ride but worth the trip! Nancy Romanovitch Graphic Designer Rick:

Awesome insights! I have been in the business for 15 years and even I learned something new. There is business out there for everyone and operating smart and lean during times of change is always best. Make a plan, follow the course and be flexible to changes in the marketplace, because it might just be a bumpy ride but worth the trip!

Nancy Romanovitch
Graphic Designer

]]> By: René Bourdages http://blog.truereckoning.com/?p=51&cpage=1#comment-27 René Bourdages Fri, 27 Feb 2009 16:33:12 +0000 http://blog.truereckoning.com/?p=51#comment-27 Our top 40 co recipient AndyNulman has just released a book ( speaking of a startup ) on the Power of Surprise in marketing. Launching a business in difficult times will certainly get you a lot of unpaid publicity! http://www.amazon.ca/Pow-Right-Between-Eyes-Profiting/dp/0470405503/ref=sr_1_1?ie=UTF8&s=books&qid=1235752371&sr=1-1 Our top 40 co recipient AndyNulman has just released a book ( speaking of a startup ) on the Power of Surprise in marketing. Launching a business in difficult times will certainly get you a lot of unpaid publicity!

http://www.amazon.ca/Pow-Right-Between-Eyes-Profiting/dp/0470405503/ref=sr_1_1?ie=UTF8&s=books&qid=1235752371&sr=1-1

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