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The Reboot Podcast
Operator’s Manual #7 - When Should You Shut Down the Business? - with Ali Schultz & Jerry Colonna
Jul 6, 2023
Ali Schultz and Jerry Colonna discuss the perils of scaling without profitability and the emotional challenges of shutting down a failing business. They share their personal experiences and emphasize the importance of generating cash and seeking support. Tune in for practical skills and sign up for a free email course.
10:24
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Quick takeaways
- A good business combines powerful and meaningful work with strong financial discipline for sustainability, focusing on both growth and profitability.
- Knowing when to shut down a business can be difficult, but signs of constantly losing money without prospects of raising capital should be considered for closure.
Deep dives
Knowing when you have a good business
A good business is one that does good work and generates consistent profits. It combines powerful and meaningful work with strong financial discipline for sustainability. While many venture-backed startups prioritize growth, the most successful ones focus on both growth and profitability. When you're proud of the work you do and consistently generate cash, you know you have a good business.
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