All startups founder wonder what mistake did we do to find ourselves in this hard situation where in there is no business lot of uncertainty in the market and failing to pay bills. Yes this is the present situation of all the startups, which are not funded and are running on low fuel.
There is no point in saying this pandemic slowdown caused irreparable damage to business which were doing good, well you cannot control the situation as the people or your customers are also going through there own problems of having lost jobs or having lost purchasing power which will make them cautious to spend.
These scenarios are pushing the business to its end point, but you now that you cannot give up and you need to fight or else you start getting bogged down by the slowdown and slowly your mind be overtaken by fear that makes you feel spineless.
Nothing to be worried as you are not the only one lot of startups founders are having problems having failed in paying bills and bank collection agents calling you and make more merry of troubled mind drives you crazy and ask question yourself where did I go wrong everything was fine and suddenly this situation has robbed you of everything.
I know when you are reading you will tell what do you know about my problem, believe me today the only problem is handling finances, when revenues don’t come the outgoing payments become like a mountain.
The only way how to build is first step is to survive this slowdown so draw up plan to first survive this slowdown which will end like how every slowdown earlier ended.
Plan your outgoing payments with a mindset that there will not be revenues coming in, as you cannot force your customers to pay you so first plan just to survive this situation. I know its going to be tough, at same time don’t just stop, start networking, start talking to people see what’s happening and there will be clients who need your products / services.
Its not that whole market has shut the only thing is customers are taking decision to ahead bit longer which is causing the problem or not able to generate revenues. You need to look for new platforms try new things get into networking with professional groups make your presence felt, keep trying, as just by sitting and saying things are not right will not give you anything.