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Now is the time to build

October 30, 2008 12 comments
Big Cats

Big Cats by micalngelo

“Every startup CEO is at least thinking about the need to cut back right now” – Michael Arrington

“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” – Warren Buffet

I’ll give you one guess as to which man I’m listening to. So no, not every startup CEO is cutting back. Apple spent their time innovating during the last downturn and look where it got them. I’m thrilled to have just passed out big, healthy profit-sharing bonuses to all of our employees this week for the 5th consecutive year. We think and hope they’ll be even bigger next year.

SmugMug was founded in the middle of the last “nuclear winter” in Silicon Valley. Everyone told us we were crazy, and we knew there was no chance at raising venture capital at a decent valuation, even with our impressive backgrounds. So we did what any good entrepreneur would do: We did it anyway, with both eyes firmly on our business model.

So if you’re running a startup, or thinking of creating one, take heart – downturns are a fabulous time to build and grow businesses. Focus on your revenues and your margins, not your growth rate or # of unique visitors. Find some stable income streams and a customer need. Listen to your customers and give them what they want – and what they’re willing to pay for. And take care of your employees – they’re your most valuable asset.

SmugMug is still hiring Sorcerers, Heroes, and all manner of other mythical beings capable of impossible feats. We filled our last position (quickly, I might add) with a *great* hire (and I’m still sorting through the avalanche of resumes we got to see if we can add a few more), but the job door is never closed at SmugMug for true superstars. Our philosophy is to not let anyone amazing get away, even if we don’t technically have an open position for you.

So if you can make magic and want to work for a company that takes crazy-good care of its employees, let us know.

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