When to Get Started: Personal Runway
July 28, 2022
Today we’re talking more about why you’ll need personal runway before getting started on a startup.
Hello everyone — today we’re talking about silence during a crisis.
As a founder, it’s easy to share good news, but bad news is much harder to discuss. In fact, many founders wait until they have good news to share again — this is a mistake.
Your team will already know there’s an issue. Not communicating reduces their trust in you and denies you access to their potential crisis solutions. You hired these people — ask them for help!
Most of your investors will have seen your crisis multiple times and can give you a range of options that worked for others. In addition, if this crisis requires fundraising, then you’ll want to be communicating regularly, so they are primed to invest more if needed.
While an investor’s job is to help the company, a mentor should just be helping you. That means support outside of just the pure professional aspects of the problem. Sharing your challenges with someone that genuinely cares about you and your wellbeing can make all the difference.
Best of luck out there.
