Whenever the venture capital environment changes，As venture investors, we can often detect clues earlier than those entrepreneurs who are fighting on the front line。What is the current investment environment?？I think a lot has changed。For current entrepreneurs，It has become more difficult to raise funds now，And it may get increasingly difficult。But I like this famous saying: Those who cannot kill us，will make us stronger。So as an entrepreneur, which one will 188bet app download be?？Is more powerful？Or just hang up？

I have experienced the Internet bubble myself，I also learned a lot of experiences and lessons。I saw many companies survive the dot-com bubble，I have also witnessed the tragic scene of many companies dying directly。What led to these two completely different outcomes of startups？The following is the survival guide I summarized for startups in a downturn in the financing environment。

Don’t hold on to the valuation

Do the financing indicators of other companies have anything to do with 188bet app download？It doesn’t matter。Do 188bet app download know the relationship between your previous financing indicators and your next financing？It doesn’t matter。I know this sounds weird。But please believe me，It doesn’t matter now。A very popular word now: valuation sentiment。If financing can be raised at a very high valuation，Of course this is good。But now I want to raise a lot of money but don’t want to dilute too many shares，This is basically impossible。The sooner 188bet app download accept this reality、Don’t just cling to the high valuations of the past，The sooner 188bet app download can get out of trouble。As my partner at DFJ, Josh Stein, puts it: raising money now with a constant valuation is actually an increase in valuation。

Redefinition successful

Not long ago，I was having dinner with a friend，He just broke his leg a few months ago，Now I have to use crutches to walk。“I used to think that the most fulfilling way to spend a weekend was to run 10 kilometers，This is called success。Today，I just wish I could walk without crutches, thank God。” she said。After the deterioration of the financing environment，To survive，188bet app download must learn to redefine success。No matter if it’s to yourself、For employees or investors，We need to redefine what success is at this stage。If 188bet app download always stick to the original IPO setting、In case of financing goals or cash-out goals，This is extremely detrimental to the entire team。If 188bet app download can survive the current difficulties，188bet app download will definitely still have a chance in the future。But what 188bet app download need to do most now is to reset your goals。

Relying on the 188bet app download existing funds to achieve positive cash flow

I used to say this at T/Maker (where I was CEO at the time): “To ensure that the company has a very bright long-term future，We need to be able to survive in a series of short-term futures。” In order to achieve final success，188bet app download need to make sure 188bet app download survive。Do 188bet app download know which companies usually survive?？Companies that earn more than they spend。If 188bet app download earn more than 188bet app download spend，Of course 188bet app download can survive forever。If not，For the company to survive，188bet app download have to get money from other people。However, as I said at the beginning of the article，The financing environment is not very good now，Financing is not easy。The reason is very simple，So simple that I don’t even want to include this。However, I found that many entrepreneurs are already discussing their next round of financing plans。What should 188bet app download do if there is no next round？Do 188bet app download still want to survive？

Some startup companies’ projects are “moonshot projects”，Don’t expect these companies to make profits in a short period of time (the DFJ investment fund I manage has also invested in some such projects)。But for many other startups，It is still possible to achieve income greater than expenditure。If 188bet app download also belong to this type of company，I hope 188bet app download can find ways to take various measures to reduce expenses、Increase revenue，Make revenue exceed expenditure，And getting better，Although some measures may even make 188bet app download feel miserable in the short term。Only this way，Only 188bet app download can control your own destiny。188bet app download don’t have to do this，But when 188bet app download know that without more funds, your survival will be a problem，188bet app download have to do this。

Find out whether the company’s existing investors are willing to help 188bet app download through difficult times

Except yourself，Who else cares whether your company lives or dies？That is your company’s existing investors。So they are also one of the best resources to help 188bet app download achieve positive cash flow。But 188bet app download must first develop a plan to help the company achieve positive cash flow，Proactively seek your investment supporters again、Ask them if they can commit to helping 188bet app download get through it。In this way，The answer 188bet app download get may be that they are unwilling to help 188bet app download，That’s okay，The sooner 188bet app download know their attitude，The faster 188bet app download can think of other possible solutions。In short, 188bet app download must find out whether existing investors are willing to help 188bet app download tide over the difficulties。

Don’t worry about the so-called morale

I have attended many startup board meetings，It is not uncommon to find company CEOs in meetings worrying about the negative impact that cuts or layoffs will have on team morale。But do 188bet app download know，In addition to spending cuts and layoffs，What is most damaging to team morale？That means the company is closed for business。I attended a meeting before，Someone asked Billy Beane (former general manager of the Oakland Athletics of Major League Baseball) at the meeting，He is famous for leading the Athletics to the Major League Baseball): How do 188bet app download create such a strong team morale？ Billy’s answer: I win by winning，If we win，Morale is naturally high，If 188bet app download lose，Morale is naturally low。

Your employees are not stupid，When the company faces difficulties，They can all feel it，They can see the stress directly on your face。They also worry about their jobs。Do 188bet app download know what they want to see most？It is the decisive response plan 188bet app download made for the company’s survival，In other words，For the company to survive，Even if some of them have to leave，They can understand it too。Trust me，A clear survival plan is the most effective way to improve morale。

To lay off more employees than 188bet app download think is necessary

This is easy to say，But it’s difficult to do。Why are 188bet app download willing to lay off as few employees as possible，This is easy to understand。However, if layoffs begin，Generally，188bet app download are likely to lay off more people in the future。In terms of layoffs，Don’t procrastinate，Instead of multiple cuts、Layoffs continue，It’s better to cut it in place in one go。If 188bet app download can cut it in place in one go，This will give those last remaining employees a shot in the arm，So that they will not worry about being laid off in the future。

Look at the 188bet app download current revenue objectively

Under the circumstances that the overall environment is not good，Many companies need to cut expenses。Not just 188bet app download，Your customers also need to cut expenses，But many founders easily ignore this。Very likely，Part of the spending your clients are cutting may be your former source of revenue，What’s worse，Your customers may simply close their doors，Your revenue will be gone at this time。So 188bet app download need to look at the company’s existing revenue objectively，This month’s revenue data does not mean that 188bet app download will have the same revenue next month，Your revenue will also be affected by the general environment。So 188bet app download need to think about this issue in advance，And think of countermeasures，So as not to be caught off guard in the future。

As CEO，188bet app download must pay special attention to the company’s data

I know，Nowadays, CEOs of many companies are accustomed to delegating the task of understanding the company’s financial data and business data to the CFO，I never care about these data。Don’t do this。As company CEO，188bet app download must know all the data inside and outside the company，Because these data are the life blood of the company。188bet app download also need to know what indicators are driving the company’s business growth，188bet app download have to focus on these indicators，Because the company’s survival depends on them。

Find the key metrics that can help 188bet app download understand the direction and health of your business，188bet app download want it every week、Every day、Even staring at these data every moment。Also，In view of the situation that these data indicators may get worse in the future，188bet app download also need to make a response plan in advance。Many companies that survived and became successful in the bubble later became very data-driven，Also，They will also use their experience to continuously optimize the company's operations，Ensuring the company is moving in the right direction。

Dive in and prepare for the long term

The bad economic environment and financing environment may take a long time to recover，It may take longer than 188bet app download think，It may get worse。So don’t imagine things will get better tomorrow，Or next month，Or next quarter，Even next year。

Listening to what I said above may make 188bet app download feel a little pessimistic。But I found out，Those companies that recognize the reality sooner and make changes，Everything will develop better in the end。Many great companies have come through the most difficult environment，I hope 188bet app download can become one of them。