Noah Johnson 
Nov 13, 2023
The existing market dynamics present challenges for tech-based startups similar to previous crises, such as the internet bubble burst in 2000 and the financial crisis in 2009.
However, amid the harsh circumstances, there are resilience tactics for both operational and business finance aspects.
Startups that survive the storm can take advantage of less competition vying for business share and enhancing corporate finance conditions, enabling swift development possibilities.
Amazon serves as a prime example of resilience, having faced bankruptcy during the dot-com crash but changed direction successfully by selling its online retail and cloud service technologies to other merchants through Amazon Services and Amazon Web Services (AWS).
To survive in this market, startups must concentrate on cash flow and analyse everyday financial inflows and outflow reports.
Put emphasis on sales endeavours that create quick revenue and extend payment deadlines with vendors while requesting timely payments from customers.
Trimming expenditures to the essential level is vital, even soliciting feedback from employees on areas to economise.
Accepting artificial intelligence (AI) can help with tasks like producing legal documents, search engine optimisation (SEO), keyword analysis, and software code generation.
Moreover, embarrassing a hard pivot and listening to customer demands can lead to fresh products or services that are in line with the company's strengths.
