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Two things that stood out for me when reading your question: 1. I'm quite bothered by the fact that I can't fix churn Maybe you have already done, but I would

Two things that stood out for me when reading your question: 1. I'm quite bothered by the fact that I can't fix churn Maybe you have already done, but I would suggest that you can be more transparent with your employees, who may have some ideas on how to resuscitate the business and make good returns again. This statement seems to imply that you are solely trying to fix whatever is broken with your current business model. 2. My broker believes we can get a good payout for the business Do you believe that your broker is acting on your best interest or the interest of the company? There's a fine line between those two. A payout at this stage of the company seems to be a scenario where you are simply abandoning ship while the rest of the crew is still paddling towards shore. Hope you find what's best for you, the company and everyone that may be affected.

just_to_ask_sam 10y ago
Hi, OP here. Thank you for your comment. I'm baffled by how many wonderful people have shared their POV & experience. I don't believe my employees would know what to do. I've spoken to them before, and gotten very little value from it. They don't have much of a business acumen. It goes without saying that the broker is doing what's in his interest. But I've found this particular broker to be very truthful, upfront. He believes we could get $700k, upfront cash and the rest ($100-200k) an earn out. Of the 700k, I'd get $560-600k upfront after paying back investors (10%) and broker (10%). At this point, I'm really paralyzed on how to move forward. I'd LOVE to be able to fix the business, but my worry is I'd have to redo the product from ground up (we have a wonderful codebase that we rewrote a few months ago), in a way where we essentially put out a completely different product. ^^ That is one of the reasons I thought about selling – If I have to build a new product to fix churn, I might aswell sell, and do it from 0, given the risk at hand.
- esw 10y ago
  Can I ask how you found your broker?

just_to_ask_sam 10y ago

Hi, OP here. Thank you for your comment. I'm baffled by how many wonderful people have shared their POV & experience. I don't believe my employees would know what to do. I've spoken to them before, and gotten very little value from it. They don't have much of a business acumen. It goes without saying that the broker is doing what's in his interest. But I've found this particular broker to be very truthful, upfront. He believes we could get $700k, upfront cash and the rest ($100-200k) an earn out. Of the 700k, I'd get $560-600k upfront after paying back investors (10%) and broker (10%). At this point, I'm really paralyzed on how to move forward. I'd LOVE to be able to fix the business, but my worry is I'd have to redo the product from ground up (we have a wonderful codebase that we rewrote a few months ago), in a way where we essentially put out a completely different product. ^^ That is one of the reasons I thought about selling – If I have to build a new product to fix churn, I might aswell sell, and do it from 0, given the risk at hand.

esw 10y ago
Can I ask how you found your broker?