The Dilemma of Perseverance in Startups

This chapter explores the cultural belief in relentless perseverance within the startup ecosystem, discussing the emotional barriers founders face when deciding to pivot or shut down their ventures. By sharing personal experiences and examples of successful pivots, the speakers unpack the complexities of knowing when to persist and when to strategically reassess.

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While few plan for the demise of their startup, it’s something that many face. In this episode, CJ is joined by Dori Yona, co-founder and CEO of SimpleClosure, to unpack the financial, legal, and emotional complexities of shutting down a company. Dori explains the options available when a company is running out of cash, what bankruptcy actually means, and the importance of budgeting for the end. The conversation covers acqui-hires, dissolution, returning capital to investors, hidden liabilities, legal pitfalls, tax implications, and more. Dori breaks down the differences between shutting down corporations versus LLCs and the timelines involved. They also discuss how to break the news to investors and why perseverance is sometimes overrated.

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@cjgustafson222 (CJ)

@DoriYona https://x.com/doriyona (Dori)

LINKS:

SimpleClosure: SimpleClosure.com

LinkedIn: https://www.linkedin.com/in/dori-yona-b8369877/

Email dori@simpleclosure.com

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TIMESTAMPS:

(00:00) Preview and Intro

(01:44) Sponsor – Tropic | NetSuite | RightRev

(05:32) The Inspiration Behind SimpleClosure