By David Regn, CEO, Stream Companies.
The current economic environment has led to a rude awakening for many startups and young companies. Launched or developed over the last decade, these companies likely experienced rapid growth with minimal roadblocks or headwinds. But as inflation increases and funding sources dry up, I believe some businesses will realize that their growth was driven by hype rather than fundamentals.
I co-founded a full-service, fully integrated, tech-enabled advertising agency in 1996 and have since recorded 26 years of consecutive growth. During that time, we saw major economic collapses like the dot-com bust and the Great Recession, as well as event-driven panics like the Covid-19 pandemic. Through it all, we managed to maintain our steady growth.
many companies that pursued rapid growth at all costs having to suddenly slash spending and lay off employees. When times are good, these growth rates can