Adapt fast, find hidden opportunities and show crisis leadership
Corona virus, or Covid 19, can now almost undeniably be classified as a ‘black swan’. Many supply chains have paused production, stock markets have been crashing, and many companies find or will find themselves in delicate situations.
Nowhere is this situation felt more acutely than in small businesses and in the startup world. Organizations that had based their business plans on the back of an +10-year bull run have seen their outlooks imperiled as their customers lack near-term visibility, and even viability.
The SAP.iO Fund has the privilege of working with leading B2B SaaS startups and a few select leaders, ceos and executives of these organizations were recently asked about how they are coping with the current environment and planning for the future. Here is a net net summary of their insightful recommendations, summarized in five key categories: Sales and customers, Value proposition and business model, Product and processes, People and Finances.
Overall, their recommendations were to:
- Adapt fast and fix the organizations to align to new market dynamics.
- Find hidden opportunities in the new market environment.
- Show crisis leadership at a time of destructive creation.