When it comes to constructing a company, lots of things can and do fail. Margit Wennmachers– a running partner at Andreessen Horowitz and long among the most effective public relations pros in the startup world– understands this firsthand.
Thankfully for all of you, Wennmachers was able to join us for our recent Early Stage event, where she shared a few of her pointers and techniques for handling whatever from fast-ballooning crises that reporters catch wind of, to laying off individuals throughout a pandemic, to why claims can in fact fuel some companies’ development.
It’s advice you might conserve for future reference. As she noted, how a crisis is managed can make or break a startup, and the list of things that can fail at even the smallest outfit is “long,” consisting of a product requiring to be recalled, a website going down, a cyber breach, a founding team that doesn’t get along, improper behavior, suits and cultural problems.
A few of her most actionable suggestions included:
How founders can get ready for the unavoidable crisis
First, stated Wennmachers, spend time modeling out the circumstances, and “let your imagination cut loose” as you do. Invest a month on this if essential. As you’re thinking about worst-case circumstances, likewise find out the group that would be associated with a crisis response. Legal will constantly have to be included however likewise, frequently, HR, outdoors counsel, and, if a start-up can manage it, the assistance of an outside crisis interactions team. If it’s an item failure, you’ll also require the item lead, too, she kept in mind.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.