• Germany must learn from past mistakes
• Challenges will remain in 2023
Crisis year 2022
2022 was a special year – Carsten Maschmeyer, entrepreneur and juror at “Die Höhle der Löwen” sees it that way too. In addition to political and social challenges, 2022 was a “crappy year”, especially for the German economy, according to Maschmeyer in the podcast with the start-up scene. From his point of view, the factors inflation, supply chain problems, debt, corona late effects, interest rate turnaround and the war in Ukraine are a particular burden on German companies and their combination resembles a “perfect crisis cocktail”. Accordingly, in his view, the burdens on companies and founders predominate in retrospect.
Politics is required
According to Maschmeyer’s FOCUS online column, Germany must learn from past mistakes in order to be able to overcome the current crises. In his view, greater independence in the energy supply is essential, especially from Russian gas. Rather, Germany should focus more on renewable energies, but faster growth in this area can only be achieved through innovations.
Furthermore, Maschmeyer makes the traffic light coalition responsible for implementing a “solid financial policy”. Additional costs for the expansion of the government apparatus financed by a high level of debt, are in his view unreasonable for the current crisis-ridden population of Germany. Rather, politicians must ensure that more solution-oriented measures are developed so that Germany can overcome the numerous crises.
Focus on “life support functions”
2023 will be tough for entrepreneurs and founders, Maschmeyer predicts in the start-up scene podcast, and demands a lot of strength and perseverance from everyone involved. Nevertheless, there are strategies with which companies can successfully counter the crises in this challenging year. In his FOCUS online column, Maschmeyer names four central principles that entrepreneurs and founders can use as a guide.
In view of rising costs, companies should not save in the wrong places. According to Maschmeyer, sales and marketing secure the company’s sales and should therefore remain unaffected by cost-cutting measures. He recommends that startups switch their business operations to “life-sustaining functions and sales activities”.
Entrepreneurs must also set clear priorities. This is the only way to focus on the essentials. The concentration must be on the “must haves” and “nice to haves” should be avoided in view of the challenging times.
Especially in times of crisis it is important to keep a cool head. Panic and the resulting ill-considered decisions could put a heavy strain on the company. In addition, existing things and principles should also be questioned as to whether they are still expedient and conducive to the company’s success. Unpopular measures such as ending business relationships should also be considered.
According to Maschmeyer, the upcoming challenging times can only be mastered successfully as a team. Therefore, even in times of crisis, employees should not be neglected and, if possible, should also be financially rewarded. In the long term, companies can only be successful with qualified and motivated staff, even in times of crisis.
Editorial office finanzen.net
Image Credits: Sammy Hart