What have you learned?

• Position: Brief Article

WE WENT AHEAD AND ASKED

TOUGH TIMES IMPART WISDOM, RIGHT? Polling people in the Colorado tech industry to find out what they have learned from our most recent boom-and-bust cycle, I've gotten responses ranging from philosophy to humor.

"Cash flow actuates growth, not the opposite," said James Wyse, president of Partnership Marketing, a Denver company specializing in database design and support services. "Forcing the growth of your business in excess of your cash flow spells doom."

Yes, but that last statement sounds like the business model of 10,000 failed dot-coms.

Terry Gold, CEO of Gold Systems, a Boulder wireless and voice recognition company, says, "Good financial monitoring and control systems are just as important in boom cycles as they are in bust cycles. Like flying a small airplane in the mountains, you should always have an alternate plan in case the environment suddenly changes."

Similarly, Karl Nelson, president of Your Recess in Boulder and the events chair of the Colorado Internet Keiretsu, offers this: "Learn how to work within your means. When the market turns around, and it will, you'll be twice as efficient and all the more effective."

Dave DuPont, vice president of marketing and business development for Left-Hand Networks, a storage technology company in Boulder, shares a number of insights:

"One, 'Almost a done-deal funded is a long way from funded. In fact, I would generalize to 'almost a done deal' is a long way from a truly done deal.

"Two, go with your gut. Your intuition is often picking up signals you may not even recognize, let alone analyze.

"Three, take reasonable chances. Do not wait until everything is perfect."

Mike Gellman, CEO of Denver-based interactive design firm SpireMedia, agreed: "I learned to believe my gut rather than CNBC."

Greg Jacobsen, president and CEO of XOR, an ebusiness...