The co-founder of fast-growing start-up Mr Yum says a market correction has put countless tech companies in Australia in the toughest position they’ve ever faced.
The words “inflation” and “interest rates” have been uttered more times in the past month than the previous decade. Throw in a bunch of underperforming IPOs, the mess in Ukraine and global supply chain issues - it is the perfect storm.
Many founders and managers, including myself, were not in the full swing of their career during the 2008 financial crisis – for many of us, this is uncharted territory.We can’t change what is happening in the markets. But the way we assess these challenges, adapt and turn things into opportunities is completely within our control.history tells usCompanies including Airbnb, MYOB, and Uber were founded and built through recessions.
Constraints are a beautiful thing when you remember what they can unlock. It’s easy to forget when you’re scaling a business that almost every start-up starts their journey with little to no cash, no credibility and a tiny team.All they have is an idea, creativity and hard work, and there’s something magical about what happens at this stage.
Companies that overleveraged discounting instead of selling value are now being forced by the markets to shift gears quickly. This is no easy feat when you’re rushing to catch up on RAdvertisement
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