Great post! As you mentioned, one of the hardest thing to achieve during crisis time should be keeping mental health stable. Even though every individual may have different level of emotional stability in their as-is personality, as you mentioned if we can layer our lives into personal health, family, friends and see the rest as ‘a game’ and calculate the risks on that, it may be easier to manage risk.
Totally agree on your points! Sometimes there may be a common feeling that these values are really hard to keep only when you succeed and only when people admire you, but you should be always behave in this manner to show people that you are always the same sincere person. I also believe that if you can keep these attributes during extreme cases, people will compare your behavior during your past days and current extreme days and will respect based on how you react.
I would also delay the IPO decision as a founder as much as possible. I also feel that senior employees will also have a pressure / be waiting for the big liquidation event and see their dreams come true. If we will think about today’s matrix as well (founder/investor/employees x personal/financial/career), I think it is pretty clear that investors and employees have more interest for faster IPO.
Really interesting post and refreshing on real world problems. I agree with operational difficulties and different type of problems consumer product startups are dealing comparing to tech ones, but honestly I think they are working is so much harder since they also need to figure out how much tech they need. I believe that technology is the one of the main elements in the retail business as well if you are targeting to sell end consumers. First examples in my mind are Bonobos and Warby Parker. These guys just want to build some cool, interesting products but a. because of the main problems you mentioned b.based on the core of target consumer habits, they started as e-commerce platforms and then turned into brick and mortar operations. Thus, even for non-tech real cool exciting consumer products, how much credit should we give to technological solutions or innovations?
Interesting post. Based on my previous work experience as well, the struggle of power / culture between ‘creative’ and ‘business’ part of fashion industry is so real and most of the times it is the main reason of many inefficiencies. I believe startups in fashion industry will drive a change and force the culture to be more ‘balanced’ and companies such as Warby Parker, Bonobos will be the leaders. While I was reading about Warby Parker, it was interesting to see how they give power to employees, how its employees interact with consumers and how they use social media.