Re:What to do if your startup is running out of cash
by shartshooter on Thursday March 26, 2020 @08:38AM
(#22692900)
I run two companies, one is a passive income SaaS business and the other is a CRM consulting business.
Inbound inquiries into the SaaS business have dropped off. That business helps drive sales but traffic is basically gone because businesses aren’t looking to buy another $1k/mo tool.
My CRM consulting company has had some drop off where customers are putting projects on pause. That said, we still have deal flow, companies are looking to operate during this time of crisis, although we are looking harder to find them.
I’m fortunate because both companies have almost no overhead(contractors + 100% remote) which helps quite a bit.
Companies with a lot of overhead are going to be in a world of hurt relative to those who were already lean or who can pivot quickly.
Inbound inquiries into the SaaS business have dropped off. That business helps drive sales but traffic is basically gone because businesses aren’t looking to buy another $1k/mo tool.
My CRM consulting company has had some drop off where customers are putting projects on pause. That said, we still have deal flow, companies are looking to operate during this time of crisis, although we are looking harder to find them.
I’m fortunate because both companies have almost no overhead(contractors + 100% remote) which helps quite a bit.
Companies with a lot of overhead are going to be in a world of hurt relative to those who were already lean or who can pivot quickly.