We are in the midst of an unprecedented global health crisis that will have a deep impact on every facet of our society and economy. As we weather through this incredibly tough time, we are trying to do what we can in our capacity to help steer our founders and startups through these uncharted waters.
This is first and foremost a humanitarian crisis, and we encourage everyone to focus on health and safety – for their teams, their families, their customers and themselves, as the top priority.
It is also a period of very high uncertainty, both in terms of the short term impact on business and the long-term impact on the macro environment in which you’re building those businesses. Founders will inevitably be faced with difficult decisions, tactically on execution in the short term (the next weeks and month) and strategically on how to plan for the next 12 to 18 months.
Through this document, we have come together to pool knowledge and best practices from across the startup ecosystem on how to deal with the crisis at hand. A majority of these learnings have been gleaned from in-depth conversations with founders across our collective portfolio and our collective experience of navigating crisis situations over the past several decades.
This document covers how to manage high risk and uncertainty and how to approach worst-case scenario planning. We think it’s imperative to have an open and transparent discussion for the collective good, and we have endeavoured to do just that. While nobody has all the answers, we hope this will help answer some questions and provide founders with a framework on how to approach the challenges ahead.
As Queensland Chief Entrepreneur and an experienced founder, I am unequivocally bullish on the long term outlook for the startup ecosystem.
Our Office is here to support and we believe in our founders, scientists, innovators and startup teams!
I wish everyone the best in navigating through this extremely turbulent and stressful time.
Remember: this too shall pass, and we hope you emerge from this crisis stronger than ever before.
Queensland Chief Entrepreneur | Founder and CEO, Everledger
- Scenario Planning
- Company Restructuring
- People Agenda
- Business Continuity Plan
- Strategic Relationships/ Merger and Acquisition (M&A)
- Communication with External Stakeholders
- Assessing/Managing Systemic Risks
- WFH + Redesign of Business Processes
- Health & Sanitization
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