Manage Downside First - Big Opportunity Second
Apr 19, 2021•38 min•Ep. 98
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
Episode description
In today’s Startup Therapy Podcast, Wil and Ryan talk about planning for a downside strategy. Having a downside strategy allows for open conversations to conclude effective upside plans and address issues level-headedly. It’s a clear and sound path for founders to clean up a failing Startup.
Sign up for the Startups Newsletter
https://www.startups.com/newsletter
Resources:
What to Listen For
- 00:00 Intro
- 00:29 Dealing with downsides forces difficult conversations
- 05:33 Downside strategies are a big part of any Startup
- 11:05 What is your tolerance for tough decisions?
- 18:14 Duration and severity of a downside
- 21:30 Know how to deal with a failing business
- 26:27 Establishing a threshold can make a difference
- 29:40 “When we worry about things, we tend to scale up to the biggest worry.” - Wil
- 32:10 Having a downside strategy allows for a powerful upside strategy
- 36:09 Build detailed downside strategies and be open to conversations
For the best experience, listen in Metacast app for iOS or Android