After experiencing the collapse of Silicon Valley Bank I have realized that tech startups can leverage this failure into a successful business model during these challenging economic times. The aftermath of the Silicon Valley Bank’s collapse has made me realize there are simple steps that effective tech leaders can take to help insulate their startups from the next financial crisis.

Here are the key bullet points:

• Diversify with many banks

• Maintain a healthy cash balance

• Temper your startup’s valuation

• Adopt a flexible mindset

• Deliver a superior customer experience

Continue reading this column in Forbes, where it originally appeared.

Christian Wiklund is CEO and Co-Founder of unitQ.