in the eighth month, things were going really well. there was demand, money was coming in. we said 'let's grow' — we got to 20 people. we opened an office, bought a vehicle, signed annual contracts.
but in the ninth month, a project got cancelled. clients started cutting spending. revenue dropped by half. but costs didn't change: salaries for 20 people, office, vehicle. we lasted one more month, then we were forced to 'downsize the team'.
laying off 12 people destroyed me. but it was financially necessary. crisis management kicked in. what i learned in that crisis: fast growth invites a fast collapse. slow, controlled growth is riskier.