Startups in the age of COVID-19

Are you asking the right questions?

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  1. Is there a way for you to lend support to your customers or potential customers? It is at times like these that customer loyalty can be cemented.
  2. What is the effect of a recession on your product or service? Will there be more demand, less demand or potentially no short-term demand?
  3. How is your product’s use case altered in the short and mid-term?
  4. What are your funding requirements for the next 12 months? Can you ensure funding for that period?
  5. What immediate and short-term effects are there on your supply chain? Can you secure redundancy?
  6. What are the effects on the distribution channels for your product or service? Are there alternatives that could be lined up?
  7. How are your employees doing? What can you do, given the constraints you have, to minimize disruption in their lives?
  8. What steps can you take to tighten your belt to ride this out?
  9. Have you explored all forms of relief that may be available to your business (federal employee tax credits; small business interruption loans; landlord concessions)?

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25madison is an NYC-based venture studio, incubating companies from the ground up and investing in early-stage companies. Learn more at 25madison.com.

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