“Closing Shop” Can Be Rewarding For Everyone

picture4If you’re an entrepreneur and you’ve finally decided that it’s time to move on to better and more profitable ventures, you should make sure that the closing of the shop would still benefit everyone. Don’t simply lay off everyone and say, “C’est la vie!”. That’s a bad business practice, and would probably have repercussions in the near future.

First, assess how much your business is worth. Then, offer your workers options. You can give some shares of the company, or you can give them a lump sum that more or less would be the same value if a portion of the stocks had made money.  After the sale, you’re free to reopen another venture, worry-free.

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