More often, founder cite their shortened runway as a reason not to fully implement the best strategic spending for their startups. This is becoming very common, especially as markets continue on a soft downward trajectory and Interest rates remain high. The dilemma is simple – founders don't want to I overspend, see their runway as too short and think they can't build traction with VCs, crowdfunding campaigns or other capital raises. The founders know that they have to spend to gain the required traction, but it is a unstable risk with uncertain returns. As countless founders face this current dilemma, what are the best decisions to make next?

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Stop looking at perceived runway length – start looking at strategy

The perceived runway it is only what is currently in the bank and a projection, at best, of what the finances will look like in the coming quarters. It does not matter future growthfunding breakthroughs and, yes, even disruptions or setbacks.

With so many founders anxious about their perceived short runway, a step back is in order. First, review MVP (minimum viable product). In its essential elements, is it really viable? Is your startup a copy of others, or is it truly unique? Will the solutions or products offered solve the problems, disrupt an industry or essential assistance in ways not currently available in the market? If you are unsure, stop and check with an external compass.

What does accurate compass control look like for your startup? Start with a brand assessment with a reputable brand strategist or innovative with significant industry experience. Why? Your problems with a short runway could simply be key messages, a revised funnel strategy, or better personas of realistic investors or a customer base.

What are the best options to use the right strategy?

Every startup seeking investors, venture capital, crowdfunding or customers develops several business plans and strategies. When the track is too short for any funding campaignthe natural tendency is to stop everything marketing expenses, go lean and create a dilemma that you can't spend to win, but you can't win without spending. This is a false premise, but it is a very familiar one.

How a founder works fix this with strategy, and what fair costs are necessary for a perceived limited runway? First, start with the most critical elements in your growth strategy:

• Plan paths to become the best—not just the best—at what you do.
• Ensure that the funnel strategy is working and accurately capturing incoming requests quickly and efficiently.
• Ensure that the customer journey the process builds on itself to turn customers into advocates for your brand.

First, become more popular. This does not necessarily mean becoming the best. While it doesn't mean putting out an inferior product or service, many people get stuck trying to improve, not promoting consistently or promoting correctly. With that, look inside. As a founder and your team, are you doing everything to use it? primary messaging strategy? Does this strategy resonate with the right audience? This is so critical and so often missed. Many spend too much and make this mistake or are too close to the actual messages to see the blinders.

Start here to fix the perceived short track. If key messages won't reach the right audience, stop everything else, including current spending, and adjust immediately. Get outside help from the right strategist who can provide expert and objective advice on course-corrected key messages. After that, use it to your advantage and lead with it. A better call to action strategy beats a new product almost every time.

Second, make sure the funnel strategy works. When you launch your new product or service as part of your startup, demonstrate to investors, VCs, or your crowdfunding campaign how well the funnel works. If the key messages are right, but the funnel strategy is what's causing anxiety with the perceived short runway, stop and evaluate. It's not enough to drive interest through messaging alone; the funnel should be as close to airtight as possible.

If a funnel strategy is already in place and key messages are working, constantly analyze the results. For sales of products or services, implement surveys, receive feedback and respond and act on ratings. Identify customer churn rate and reasons and continuously improve. Ask customers for product or service feature requirements and use this data to evaluate and optimize feature affinity. Additionally, make sure any changes to your public-facing marketing assets, especially websites, social media, PR and email, align with your funnel strategy and don't throw your brand off course.

Third, make sure the customer journey process finds ways to build on itself and find ways to drive new and existing customers into your brand advocates. This starts by making it an almost hassle-free journey for CLIENTS coming through the funnel. From the basics of making the journey, value proposition and process simple and straightforward, every brand needs to advocate for its customers before a customer advocates for the brand. It only takes one bad experience, or one unanswered perceived bad experience, to drive away a customer and part of an audience.

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You have taken a risk with your startup; why take that risk now?

If the strategy is sound, believe it. Build on strategy. A perceived short runway in part represents a lack of confidence in the strategy, execution, team, or product or service offered. With the right steps to ensure key messages are accurate and provocative, a funnel strategy that captures the right audience and drives that audience to decision-making, and the most direct customer journey, the profits will build on themselves.