Johen Doerr, Valley’s most successful VC and board member of Google Inc has 10 tips for startup founders on how they can survive the downturn. John’s 10 commandments are,
- Act now
- Protect core of your business
- Have 18 months or more of cash
- Don’t spend on PC and expensive software and use Web based Services [Maybe Open Source ?]
- Negotiate with clients , terms contacts etc
- Everybody in the company should be selling including receptionist – SELL the product should be the underlying tone
- Stop cash bonus and salaries – reward with equities
- Keep you cash in most secure instruments – US Treasury not Money Market
- Revenues of 90 days in Advance
- Over communicate to everybody that mater to your business
Courtesy: AllThingsDigital
