Planning the Lifecycle
This blog has focused on the break up of small businesses. If you search "small business breakup" on the Internet, you will find lots of advice on planning and setting up your company so that a path for break up is established. If you and your partner are on divergent paths, that advice is not helpful. Not at all. Past posts here have discussed the process of breaking up, including advice on gathering all of the business information, bank accounts, loans, payroll, customer lists, vendor lists, whatever your company may have, before talking with your partner about breaking up the business. Earlier posts have discussed approaches to discussing the break up. Even if your formation documents are a mess, you can break up your company without destroying your life. But what comes next? You may choose to run the business on your own or, if your partner bought you out, you may choose to start a new venture. If you start a new venture, spending some time ...