This document provides advice on how to build a successful startup during an economic downturn based on lessons from the past year and the story of ixigo. It recommends focusing on product-market fit, hiring great people, setting ambitious goals, spending little on marketing until organic growth takes off, prioritizing unit economics and profitability over growth, using PR strategically, raising money opportunistically, right-sizing the business, and building a strong culture. India is highlighted as still having significant long-term growth potential in its digital transition.