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E27 Founder Stories - Shyp’s failure

Second Time Founders

CHAPTER

The Importance of Good Relationships With Your Board

The shutting down process was brutal especially when you have so many leases. I'd also recommend anybody that is running the company go with a PEL as far as a payroll provider. We actually tried to we did our own payroll and workers comp and so they actually held like half a million dollars Aside for like I think a year year and a half that we actually could have continued running the company on that So that was a really stupid decision on our part That I definitely did not know so go with Rippling or go with whoever your favorite HR software company is. The winding down part was called an ABC. You basically hire a firm that Takes over the company legally Allows the board to basically roll

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