Monday, August 07, 2006

Jason Calcanis on How to Walk Away (via Rick Segal)

Rick Segal points to a very good 2 minute section of Dave Winer's podcast with Jason Calcanis and others. Jason talks about what to do when a business doesn't work out and I think he makes a lot of sense. As someone who's startup recently failed, I can attest that there are some situations, especially between founders, where emotions run too high to make a rational decision. Rather than getting involved in a debate that will only get nastier, walking away, auctioning the assets and splitting the proceeds is the best way to move forward. Channeling one's energy towards his/her next project is much more effective than using it to aggravate and/or burn bridges with former business partners. Of course, the hard parts are keeping your own emotions out of the decision and then knowing where your walk away point really is.

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