i sold the company I worked at for 10 years. i got the money but felt really weird but it's in someone else's hands now.
Selling a company is a psychiatric event. Hard to let go of what you love. But is it financial success or emotional? honestly we struggle to reconcile the two.
My questions are cleared up, thanks. Mistaking revenue for cash is the most expensive illusion; trust the bank account.
Mistakes made on the sold the company side are usually reversible but expensive.
we need to take it step by step then looking profitable on paper but having no cash in the bank is very common.
just leaving this note, it might be useful.
Exactly and not many people know this. Everything goes well for the first three months; problems arise in the fourth.
I'm also curious if anyone does it differently.
Let me speak from the other side; I'm on the supplier side. Just because everyone does it doesn't mean it's right.
This is my opinion I'm not claiming it's absolute truth.
We need to take it step by step... anyway just because everyone does it doesn't mean it's right.
If I were you Id go this route.
I think it's hard to be that definitive about sold the company. The longer you delay cutting the team, the more people it affects.
That's all, sorry if I went on too long.
Exactly like that. If you don't write this down from the start, it leads to arguments later.
Correct me if I'm wrong.
The discussion got scattered, let me summarize. Extending terms makes customers happy but turns you into a financing institution.
Hasty decisions become decisions you have to fix six months later. Proven by experience.
Generally correct, but one part is missing. Solutions that work at a small scale collapse when you grow; I learned this late.
Good luck with that.
We experienced almost the exact same thing last year. Taking notes for two weeks yields better results than a six-month estimate.
The longer you delay cutting the team, the more people it affects. Just leaving this note, it might be useful.
Doki · Corporate website · 2024
We experienced almost the exact same thing last year. If the gap between accounts receivable and accounts payable turnover days is widening, revenue won't save you.
Just because everyone does it doesn't mean it's right. Of course, it varies if your situation is different.
could you elaborate on that? don't hesitate to ask; those who don't ask always pay more.
of course it varies if your stuation is different.
I'm curious too. Looking profitable on paper but having no cash in the bank is very common.
When the closure decision was made is as decisive as the decision itself. If you post the result here, it will help others too.
there's a part I don't understand. like processes without records never improve, because you don't know what to fix.
people defend habits, not processes and like resistance comes from there. this is my opinion, I'm not claiming it's absolute truth.