When I launched my second technology company in early 2007, the future was bright. The economy was soaring. We had an innovative platform that we knew would shake up the legal industry, and initial feedback from clients and prospects was very favorable. Fast forward a few months, and that outlook was turned upside down as we headed into the Great Recession.
As we struggled to make ends meet during those early months, some of my closest business advisors recommended that I cut my losses and focus on my legal practice. Despite their warnings, as far as I was concerned, failure wasn’t an option.
As I look around at startups today facing a bleak economic outlook, I intimately feel their worry, their frustrations and their fear. As a founder who came out on the other side of an economic downturn, I want to share some of the tips that helped our company weather the storm and transform into a leader in our industry.