Are you challenging your product goal?
Lower your company burn rate can give your company enough cash to survive during these times, but is the pandemic making you rethink your company?
VCs suggest cutting any non-necessary costs because of the pandemic situation we are in today. Startups in the Pre-Seed or Seed stage don’t have that much to cut. The team is small, and the capital is limited. Still, every founder should plan for the future of the company. Here a few questions for you:
Is my product compatible with the times we’ll be for the next years?
Is there anything I can do to pivot my product in a direction that can be useful today?
Do I have enough cash to stay alive for the next six to nine months—at least—without changing the product goal?
Are you still doing something people want? Times changed, and the next years will be different. People today have different needs than three months ago
I’d love to have your thoughts on it.
Well, Since the Covid Started, we succeded in changhing and creating new business And for sure innovation is the first step But this is part of the Dna of each company. so one of the question, it could be: How do you think your company has an innovative mind from 1 to 10? How many new innovative products have you developed in the last 3 years? without an innovative approach it is hard to overcome the Covid Time. Piero Tuzzo- Stsicily