4 ms·

I don't think you should be quite ready to throw in the towel. Have u launched yet? You said you were headed to profitability. What about the original idea a

by ookblah 15y ago

I don't think you should be quite ready to throw in the towel. Have u launched yet? You said you were headed to profitability. What about the original idea as others have mentioned here? Here's another one: Plan to dedicate more than 7 months to said startup.

calebhicks 15y ago
Great point. I haven't decided to throw in the towel, but I've nearly run out of cash and my cofounder is not around to help. You're right though, I should continue fighting to make it happen. Spend a few weeks to change our name, forget about the printed materials, and keep working to see if there are legs. If I were to succeed, how would you (or other HNers) approach the issue with a cofounder, given that he will have not been involved in the additional push?
- nakkiel 15y ago
  One thing I've learnt is that there is always room for negotiation. Call the other business owner and come up with a time-frame to rebrand your company. Get him to agree with that time-frame and move on. That way you could use the remaining cash for a customer push and replenish your cash reserve at the same time. Prepare your rebranding peacefully and if you actually run out of cash, you won't have to rebrand (in some countries, this is costly). Another thing: contact the domain squatter of the other brand. Ask him how much he wants for the domain. If you run out of Cash, consider selling your domain to the other business owner for half the price. Heck, you could even sell your website and design.
  - mst 15y ago
    Also, making a polite agreement with the other business owner doesn't cost him anything. Potentially having to sue you does. This means that provided you can convince him of your good faith, giving you long enough to rebrand is probably in his best interests. And, hell, it requires ... a phone call. No harm trying.
- ascendant 15y ago
  Either the other cofounder starts doing something to justify their continued stake in the venture or you reduce their ownership %. Utterly ruthless but this is business. You're already in a precarious position. Don't carry dead weight.

by ookblah 15y ago

calebhicks 15y ago

Great point. I haven't decided to throw in the towel, but I've nearly run out of cash and my cofounder is not around to help. You're right though, I should continue fighting to make it happen. Spend a few weeks to change our name, forget about the printed materials, and keep working to see if there are legs. If I were to succeed, how would you (or other HNers) approach the issue with a cofounder, given that he will have not been involved in the additional push?

nakkiel 15y ago
One thing I've learnt is that there is always room for negotiation. Call the other business owner and come up with a time-frame to rebrand your company. Get him to agree with that time-frame and move on. That way you could use the remaining cash for a customer push and replenish your cash reserve at the same time. Prepare your rebranding peacefully and if you actually run out of cash, you won't have to rebrand (in some countries, this is costly). Another thing: contact the domain squatter of the other brand. Ask him how much he wants for the domain. If you run out of Cash, consider selling your domain to the other business owner for half the price. Heck, you could even sell your website and design.
- mst 15y ago
  Also, making a polite agreement with the other business owner doesn't cost him anything. Potentially having to sue you does. This means that provided you can convince him of your good faith, giving you long enough to rebrand is probably in his best interests. And, hell, it requires ... a phone call. No harm trying.
ascendant 15y ago
Either the other cofounder starts doing something to justify their continued stake in the venture or you reduce their ownership %. Utterly ruthless but this is business. You're already in a precarious position. Don't carry dead weight.