4 ms·

The best route for you is to spearhead it yourself and make another go of it - but it's assumed from the tone and wording in your posting that you're not in thi

The best route for you is to spearhead it yourself and make another go of it - but it's assumed from the tone and wording in your posting that you're not in this frame of mind... Suggestion: don't let go of something with promise! Look to partner with someone who's expertise matches well, but keep a significant stake in the company. Look to create a vesting agreement with a potential partner that has a 1 year cliff with bonuses for performance. (Talk to a legal expert!) My point is that rather than selling it off, you could 'pay' someone in shares for performance-based work. They would end up with n% of the company after m years plus p% bonus. They would have you as an advisor/co-founder resource. There should also be buyout provisions should either of you want to take on the company full time again, perhaps.

dmillar 15y ago
Great advice, and this is something I have been looking into. Honestly, it boils down to risk threshold. I'm in the frame of mind, but not enough to leave my job and put my family at risk. Fine for me to live in a box, not fine for them.
- jaddison 15y ago
  That totally makes sense - you're a wise person... and considerate. ;) I guess what I was also trying to say - it doesn't have to be a lot of risk or involvement for you if you arrange it well. If someone is unable to raise the capital to buy it from you, they can always earn a share (or all!) of the company by 'working it off'. If they are a good match business-wise, but don't have the capital, it might still work out if you're flexible. ;)