Shutting Down a Startup 2

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Not all startups succeed.

For those that don't, there may come a time to shut it down.

Here are some key points to consider in shutting down a startup:

Before announcing the shutdown, collect all accounts receivable.

Sell any inventory left on hand.

Notify investors first so they are aware.

Notify employees and give them their last pay date.

Notify your customers of the transition to a new service or program.

Liquidate all assets.

Pay taxes and payroll withholding.

Pay off outstanding debt as much as possible.

File IRS forms related to employment tax.

Close the bank account.

Dispose of any remaining assets.

This may include patents, trademarks, and other intellectual property, as well as physical assets.

Finally, dissolve the legal entity.

The shutdown process can take some time as each of the steps above requires time to complete.

Consider these steps in shutting down a startup.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let's go startup something today.

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For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
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In this episode of Investor Connect, Hall Martin speaks with Henning Schwinum, the co-founder and managing partner of Vendux, a company specializing in connecting businesses with fractional, interim, and full-time sales leaders. Henning shares his journey from a 25-year career in global sales and leadership roles to identifying a gap in the market for senior sales leadership in fast-growing companies that aren't ready for a full-time executive. This led to the creation of Vendux, a specialized marketplace for fractional sales leaders. Henning explains the concept of 'sales leadership capital' and the importance of investing in the talent, processes, and technology needed to build a successful sales function. He also discusses the 'perfect match system,' a proprietary technology used by Vendex to match businesses with the right sales leaders based on detailed criteria.

The conversation delves into the state of fractional sales leadership, touching upon trends, compensation, and the growing acceptance of fractional roles across various industries. Henning highlights the benefits of fractional executives in de-risking go-to-market strategies for startups and scaling efforts that are often out of reach for small sales teams. The discussion includes real-world examples, emphasizing the impact of fractional sales leaders on pipeline quality, win rates, and accelerated growth. Henning also shares his insights on the evolving ecosystem supporting fractional executives, which includes agencies, marketplaces, and education platforms.

As the episode wraps up, Henning offers advice for founders considering the fractional route, emphasizing the importance of finding the right match for specific problems and growth stages. He also highlights the role of the Fractional Leadership Alliance, an industry association that amplifies the voice of the fractional executive community.

Visit Vendux at www.vendux.org/

Reach out to at www.linkedin.com/company/vendux-sales-leadership-capital/ , and on henning.schwinum@vendux.org

_________________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https:/_/tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.

Best Practices for Launching a Startup

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Many founders have unrealistic expectations and misguided notions about how startups work.

Here's a list of best practices to consider for launching a startup:

Don't bank on the idea alone.

Startups need more than a great idea; they need execution.

Launch as soon as you can.

Delaying the launch means delaying customer interaction, which is the key driver in the early days.

Build momentum into the business.

Investors will look for momentum and traction to fund the deal.

Choose painkiller solutions over vitamin solutions.

Pick a problem that customers consider a painkiller, as it will be easier to sell.

Generate revenue and happy users.

This will give you momentum in the fundraising process.

Strive for product market fit.

This is a demand outstripping the supply.

Consider these points in launching your startup.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let's go startup something today.

_________________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.