Zach Ferres is a serial entrepreneur, speaker and technology executive passionate about developing entrepreneurial communities around the world. He built and sold his first tech company at 24 and was the CEO of Coplex for eight years, where he supported the creation of over 200 startup companies.
While the global health crisis has sparked an economic recession, innovative entrepreneurs can find ways to leverage the situation to move their businesses forward.
Don't worry about what your future holds or whether you'll be able to sustain your early success. Get your first customers on board, treat them well and use that success to fund your next steps.
Companies with more money than sense might survive for a time, but only those with a good business model and good business-building habits will succeed.
Poker is a high-wire act that any CEO could recognize. You're managing risk at all times, and you're making decisions based on insufficient information.
Startups fail for a lot of reasons: a lack of money (duh), poor marketing, a pivot gone awry, legal challenges. But another, different reason tops the list year after year.