Cory Zue on how the Corona Virus affected Place Card Me
This is the 2nd part on how Corona affected startups, particularly, Open Startups.
In this part I interviewed Cory, founder of Place Card Me, where he makes printable place cards for events like weddings, where people have to gather together. His startup was badly impacted by the Corona Virus.
Here is what he shared with us.
Cory Zue, Place Card Me
Basically, the Corona Virus killed my business overnight. No more events means no more place cards, and my revenue has dropped by > 95% month to month. There's a bit more context in my last month's retrospective as well..
Thankfully, I've got other projects that have been impacted less, so I'm mostly taking the time to focus on those. Apart from huge pivots, there really isn't any recourse I can take to get people to start making place cards again, so I'm basically just putting the business on pause and focusing on other things. Hopefully after the crisis passes events will pick back up and so will revenue.
For me the main takeaway has been: thank god I diversified! It seemed so implausible that something could kill my business overnight, and yet, here we are. But, because I spent the better part of last year building up a second business, I'm still bringing in some additional income, and still able to focus on things rather than feeling like the sky is falling around me.