Tips for Startups
Starting a business is never easy. But during a pandemic? Craft Bank opened in 2020 during the height of the COVID-19 pandemic. Ross Mynatt, CEO, shares three pieces of advice for startups trying to open their doors while facing seemingly insurmountable challenges.
A new business must be able to adapt quickly and adjust on the fly. Be prepared to meet quickly as a group, try different strategies, and pivot when things don’t work.
Stay connected with your team.
Starting a business is always stressful, but during a pandemic there’s even more on the line. Livelihoods depend on the success of your outcome. So it is extremely important to touch base as a team on a daily basis and ask how everybody’s doing, share stressors, and talk about what keeps you up at night. The cohesion of the team is really important to us at Craft.
Believe in your plan.
Failure is not an option. People used to ask me what I would do if Craft Bank never opened. I would say, “My Plan B is the same as my Plan A. My Plan C is the same as my Plan A.” For us, we were always going to open. We didn’t care what we had to do or how long it would take. We were going to succeed. We believed so much in our model, business plan and team. When you have that kind of commitment and belief in your team, success is the only option.