This Week in Startups E1041: The Lean Startup’s Eric Ries gives tactical advice for founders during an economic downturn: obligations of leadership, extending runway, handling layoffs with grace, finding new revenue opportunities, capitalizing on silver-linings & more!
Apr 1, 2020
In this engaging discussion, Eric Ries, the author of "The Lean Startup" and founder of the Long-Term Stock Exchange, shares invaluable insights for today's founders. He emphasizes the importance of compassionate leadership during economic downturns. Eric offers tactical advice on extending runway, handling layoffs gracefully, and discovering new revenue opportunities. He also weighs in on the advantages of authoritarian versus democratic governance in crises and discusses innovative solutions like his initiative at schoolclosures.org, blending entrepreneurship with social responsibility.
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Small Investments, Big Impact
- Eric Ries's company provided employees with stipends to improve their work-from-home setups.
- Small investments in employee well-being can have a big impact.
Vendor Expectations
- Tell your vendors that endangering employees is unacceptable.
- Insist they adopt social distancing or risk losing your business.
Supporting Students
- Eric Ries created Schoolclosures.org to support families with children out of school.
- The site connects families with free educational resources and support.
