GeekMBA360

Career and Money Advice At The Intersection Of Business And Technology

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Be greedy only when others are fearful

October 9th, 2008 · No Comments

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
— Warren Buffett

There are a lot of fears now. Sequoia Capital, arguably the most successful venture capital firm in the world, had emergency meeting, telling start-ups to try to survive downturn.

What should you do if you’re a start-up employee?

  1. Your #1 job is to keep your job. Venture capitalist and entreprenurs won’t like this answer. But, this blog is written to help employees.
  2. Evaluate the start-up’s market, management team, customer base, sales traction and progress. Assuming the company will see a 50-75% drop in sales in the next two years. Do you think the company can still survive and prosper? Will the company have enough cash to survive the downturn?
  3. If your evaluation shows that the company’s prospect is bleak, and you don’t have faith in the company, start looking for a job now while holding onto your current job. It’s much easier for you to get a job while you’re still employed.
  4. If you believe in the company’s direction based on your evaluation, then work as hard and smart as you can, and help build a great company. Great company is built during hard time. Be part of it.

Tags: Beat Recession · Start-up Success

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