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Hunker Down and Then What?

WEST, Women Entrepreneurs in Science and Technology, had a networking event this past week with a panel of VC’s. During the wrap up, one VC recommended that companies hunker down and forget growth. 

Well, given that current conditions are pretty hairy at best, what does hunkering down look like?  For some, hunkering down seems to mean doing nothing.  For others, it means some kind of maintenance options.  Minimal or no marketing, relying on older revenue streams, nothing new.

In a recent interview published in The New York Times with Guy Kawasaki, he suggests entrepreneurs just put wax in their ears and plow ahead.  Well, decision time…what kind of business are you building?  Do you plan on being in business in 12-24 months?  Taking the time to re-imagine your business, even doing a SWOT analysis with a look at what’s happening personally.  How freaked out are you?  How are you managing your anxiety?  What are you willing to let go of?  What is totally non-negotiable for you? So, you’ve got 3 options.  Do nothing, do minimal, or boldly go forward.

Which one are you choosing? And just as importantly, why are you choosing this option?

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Mass High Tech News and The Pitch

One of the important things about starting a business is having enough money to do things like marketing, setting up an office, hiring professionals such as a lawyer or accountant, and many other tasks that are simply part of doing business. When I started my business, I didn’t know this valuable nugget of information. Like many business owners, particularly women business owners, I have bootstrapped from the very beginning. This can be a stressful and challenging way to build a business.  As I speak to a variety of entrepreneurs, some types of businesses don’t lend themselves well to bootstrapping. Finding financing either through bank loans, angel investors, venture capitalists, and other sources becomes necessary. But how do you find these people?  There is a great resource for businesses that focus on new technologies. The Pitch is a section of Mass High Tech News that features start-ups seeking funding and visibility.  You can nominate your business and be chosen to be the focus in the print issue.  To get more information, click on this link.  http://masshightech.bizjournals.com/masshightech/nomination/1207 I hope you are chosen and get your business to blast off! 
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