FAQ # 6 - How do we manage our expenses?
Advice - There is an old saying "Money saved is money earned", which is very apt in today's time. The most important thing every startup should do is conserve cash and keep a minimum 6 months runway.
My two cents...
1. Stop inorganic marketing
2. Take benefits of bank moratorium schemes
3. Borrow more from bank against future receivables / fixed contracts
4. Make part payments wherever possible or defer payments for non essential expenses
5. Renegotiate office rentals
6. Retain talent by offering esops
7. If you are funded, then approach existing investors to borrow more
8. If you are still looking for funds, reduce expectations and approach the investors for a quick fund raise
10. Check for alternate monetisation opportunities from your current business model or tech stacks