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Winding Down with Professionalism
The decision to stop is difficult. Ideally, one decides in a timely fashion and then professionally executes the startup’s wind-down. Surprisingly, this is the exception rather than the rule, so let’s discuss why it is worth doing.
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Making the Decision to Stop
In my last post, I discussed the powerful motivation that drives entrepreneurs to found and build a high-potential startup and the odds against building a successful startup. Most startups do not make it, which means that many entrepreneurs will someday face the profoundly difficult decision to stop and abandon the attempt. What does that look like—and why is it so…