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.
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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