I had the same idea as far as these hard economic times getting rid of some of the web apps and design companies that are producing sub-par products and services. Even though hard times are upon us and will continue into the foreseeable future, the industry I think will be better in the end if the weaker links fall off and difficult times encourages true quality and innovation in services and product.
Lynne d Johnson
· 1 year ago
A recession is the best time for a startup. Lots of great companies came about during recessions: "Method, RF Micro Devices, and Clif Bar are the most recent crop," but "GE started during the panic of 1873, HP began during the Great Depression, Disney’s start was during the recession of 1923-24, and Bill Gates and Paul Allen founded Microsoft during the recession of 1975."
Most important in terms of what you covered here: CCI, with BlackPlanet as its leading brand survived the dot-com bust, while many other urban and black web properties and services couldn't hold on. So there's definitely a lesson in there somewhere.
It's not as much a time for panic as people think. All of these survivors served a real need, and that's what these new companies have to think about, whether they really serve a need.
I really enjoyed reading this post. In fact, I think you could have even called this it, "6 Tips for Startups During the Recession," or something of that vein. I loved your setup, but loved your tips even more. Especially the one about listening to the user/audience/community. Why? Because without them, they'll be no product. So more than ever, this is the time to listen. Meet their needs, but stay true to your vision. You'll be better off for it.
Unfortunately though, I'm sure some companies will have to make some cuts. But they should make them wisely. They also have to focus on their core missions. If they have plans to be a swiss army knife, perhaps they need to take things slower and focus on one idea or feature set, or what have you at a time. It's kind of hard to be a "be all" at this time, but being a must have should take priority.
That's my two cents.
AroundHarlem.com
· 1 year ago
Good Read.
Geezy G
· 1 year ago
GP. If you have a strong foundation you will definitely be able to weather the storm.
All Comments
Most important in terms of what you covered here: CCI, with BlackPlanet as its leading brand survived the dot-com bust, while many other urban and black web properties and services couldn't hold on. So there's definitely a lesson in there somewhere.
It's not as much a time for panic as people think. All of these survivors served a real need, and that's what these new companies have to think about, whether they really serve a need.
I really enjoyed reading this post. In fact, I think you could have even called this it, "6 Tips for Startups During the Recession," or something of that vein. I loved your setup, but loved your tips even more. Especially the one about listening to the user/audience/community. Why? Because without them, they'll be no product. So more than ever, this is the time to listen. Meet their needs, but stay true to your vision. You'll be better off for it.
Unfortunately though, I'm sure some companies will have to make some cuts. But they should make them wisely. They also have to focus on their core missions. If they have plans to be a swiss army knife, perhaps they need to take things slower and focus on one idea or feature set, or what have you at a time. It's kind of hard to be a "be all" at this time, but being a must have should take priority.
That's my two cents.