How To Keep Your Startup Alive During Tough Times

When you're at the early stages of your startup, you have nothing to lose. But once you've raised some money, or even after a few months, when things are starting to slow down, it can be difficult to maintain the same level of commitment you had at the beginning. That's why it's important to figure out how to keep your startup alive during tough times.

Identify your mistakes

When you hit a rough patch, you have to look at why you were losing money. Is it because you were charging too much? Or was it the lack of a certain feature that kept your customers away?

Stop Comparing Yourself

No one has ever reached the top without competing. But comparing yourself to others will only lead to discouragement and lack of motivation. Instead, think of what you’ve accomplished so far, and what you’re still planning to achieve.

Keep your costs low

Low startup costs are a good sign that your business has staying power. You can keep your costs low by starting small and growing gradually, as well as using technology to make your business leaner and meaner.

Be honest with your investors

When you're in a tough spot, it's important to be honest with your investors. They're the ones who are funding your startup, so it's important that you tell them the truth. You don't want to mislead them, and then have your startup collapse.

Focus On The Future

Try to put the present problems out of your mind, and focus on the future. It may seem like a scary thought at first, but you’ll be glad you did in the long run. And if you do start doubting yourself, then take a step back and take a break.