
Startups For the Rest of Us
TinySeed Tales S2E9 | Playing the Long Game
Nov 5, 2020
Brian and Scottie Elliott, the dynamic duo behind Gather, an interior design project management app, delve into their journey of scaling their startup. They share how a recent cash crunch became a stepping stone to success, thanks to strategic loans and a major enterprise client. The couple reflects on lessons learned, including the importance of 'dog fooding' their product and adapting to market shifts during the pandemic. With optimism, they envision doubling their growth in the coming year while emphasizing the significance of continuous improvement.
19:48
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Quick takeaways
- Gather effectively navigated cash flow challenges through government loans and securing larger enterprise clients, enabling significant business stabilization.
- The co-founders stress the importance of patience and enjoying the entrepreneurial journey, highlighting it as essential for long-term success.
Deep dives
Navigating Cash Flow Challenges
The co-founders of Gather managed to overcome a cash flow crunch that emerged during the COVID-19 pandemic. They received significant relief from government loans, including the Small Business Administration Loan and the Paycheck Protection Program, which improved their cash balance and allowed them to stabilize their operations. Additionally, landing a larger enterprise client brought in upfront payments for feature development, enabling them to ramp up their development team from part-time to full-time. These financial adjustments transformed their outlook, empowering them to pursue more ambitious growth plans.
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