There are lots of questions swirling in founders’ minds on team and people management right now – these are tough times and there are tough calls to be taken. While there are legal ramifications that need to be addressed we believe that there is some founder straight speak needed to create a holding structure for your thoughts and the actions you will take to conserve cash, restructure your organization and find the will to fight another day.
Harpreet Singh Grover is a founder who built his startup through a downturn and steered his company away from a near-death experience as a VC pulled back a term sheet. The team eventually rebuilt CoCubes which was acquired by Aon Hewitt in 2016. Harpreet is also an angel investor and has this to say, “Entrepreneurs who have seen recessions before are taking tough calls now and conserving cash. The people who are seeing this for the first time are more optimistic… I have been in that camp where I have run out of money and taken debt and I can tell you that things do not get better soon… So I would say do not take the optimistic or realistic view of the business, take a critical view of the business & cut whatever cost you can.”
Watch this video for more from Harpreet on how to manage your teams and deal with any dilemma who might be facing as a founder