Lessons from starting a company during the last downturn

techcrunch.com

"The last recession taught me that challenging market conditions offer advantages, like less competition and better access to talent. ... you’ve probably heard that it costs less to keep a customer happy than to acquire a new one, and we’ve found that to be true. In any economic cycle, but especially a tough one, you don’t want to do something sexy; you want to do something foundational. If you create something people need, you’ll thrive when the markets are low, as well as when they’re high.

The past eight years have underscored the cyclical nature of the economy — and the need for businesses built on fundamentals rather than growth-for-growth’s-sake."

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