Reply to Incapable H goes deep in debt for new business, screws it up, ignores my help -at the end of my wits

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Reply to "Incapable H goes deep in debt for new business, screws it up, ignores my help -at the end of my wits"

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[quote=Anonymous]Business owner here. He's probably stressed about it too. Sit down and decide on an achievable goal in X months, like by July next year, if the business has not made at least $100k, then you'll shut it down and move on. You both need to agree to this, and stick to it. If he doesn't want you "getting involved" then don't. Let him fail on his own.

As another poster mentioned, a good way to bail this out is to find a person to come on as a partner or even acquirer. Find someone in the same industry, like the owner of a competing business (if you want to sell) or the assistant manager of a competing business who is looking to move up a notch and hire them. You can indeed sell your business and then earn an operating fee, like your DH would work for the business as an employee and maybe take a small profit-sharing.

It was unwise to buy the property outright instead of first leasing (this works better for a stable busienss that's looking to expand), but that's the past so not much you can do.

What type of business is it? I actually advise startups on a volunteer basis. I may be able to give industry-specific tips.[/quote]

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