Q: What are the top startup lessons we learned during Covid?
A few lessons that maybe weren’t new, but that we relearned in 2020-2021:
- Things always bounce back. It’s just never clear how long it takes. When we did the SaaStr Summit: Bridging the Gap in April 2020, no one had any idea things in Cloud would bounce back so fast. Not the CEOs of Slack and Box. Not the top VCs. We knew they’d come back. We just assumed it would take much longer.
- Know if your VCs will bridge and support you. VC cash quickly got tight after Covid. Founders learned it mattered if your VCs have reserves to write you another check — or not. Find out.
- It’s hard to predict positive externalities. When they come — just lean into them. No one knew Covid would be a huge boost for e-commerce overall, and collaboration like Zoom as well. But if you go long, eventually you get a tailwind. Leverage it.
- Just take care of your customers. Many leaders gave customers payments relief and other help when they needed it. It worked. Shopify and upstarts like Gorgias used this to power ahead in tough times:
- Anytime is a great time to start a startup. Maybe even especially challenging times. Change creates new opportunities.