Some of us remember when the global economy was shocked at the turn of the millennium. My company, Quest Global, was barely a fledgling back then. The Enron crisis became our first major setback. We lost our anchor client, which represented the major portion of our revenue. It felt like the wind was knocked out of us. Our business shrank dramatically, losing nearly two-thirds of our revenue almost overnight, and we were losing money. Globally, opportunities seemed scarce, and not having experience managing a declining business crippled us.
This first crisis proved exceedingly difficult. We had raised money before the crisis from a PE with the intent to invest in growth, but we ended up using the capital instead to fund our losses and keep the company going. The assistance came at a critical time, allowing us to rebuild what we had lost…
