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Can I quit my start up or take a 6 month break especially since it’s convertible debt?

I’ve been thinking on quiting my startup or taking a 6 month break for the last 6 months after the loss of a loved one. I can’t get out of bed, I haven’t been able to focus on work. I think I’m depressed. Problem is, how do I handle my investors? I don’t want to drag them down this spiral.

  • Take 6 months off if that’s what you need. Personal situations can derail a business. The investors knew this from the beginning, so they’ll just have to deal with it.

    I’m sorry for your loss.

    Reply

  • Sorry to hear you lost someone close. I’ve just experienced the same a couple of months ago. I guess the question is are you taking that much time off because you want to do something different with your life or just to take time to recover? You should also try to not let time off stop you from moving on, so perhaps the distraction of work could be of help too?

    I started my business with the aim of making a better life for my family, including the one no longer with me. At first I thought I couldn’t go on but then I realised that I need to carry on for myself and for everyone else that remains. Hope you find what you need to get through this.

    Reply

    • I’m sorry for your loss too. I hope that all is working well for you.

      It has been a struggle. I have been thinking of doing something different but at the same time I have made a commitment to my start up, my team and investors. Which I plan to see it through. The business had been an outlet for awhile but now it’s just depressing. I haven’t been productive and it is affecting the company.

      How do I even take a 6 month break? How will I go about it with the investors or the team?

      Thanks for your advice.

      -Op

      Reply

      • I bootstrapped my start-up so I don’t have the pressure of investors, but I do feel a responsiblity towards my clients so can’t (won’t) just walk away from them – so I understand how you must feel. That meant I had to carry on but I did slow down for about 2 months and told my the clients I needed to. During that time just attended a few conf calls and reponded to email’s, no management, no development and no new features. Maybe if you have a team around you then you could delegate more than I was able to.

        In the end you’ll just need to talk to your investor and let them know. If they are worth doing business with then they will understand but will want to be sure that a few months off won’t de-rail the business in the mid-long term. Perhaps you should just start by taking a month off and then see how you feel after that.

        Let us know what you do.

        Reply

  • As the leader of your organization, you have many responsibilities that are important, yet not emergent. Training up your staff to promotability is one such facet of the job.

    Now, its become emergent.

    I’m sorry for your loss. We all face tragedy and handle it our own way and timeline. If you’re going to need to dedicate time to this traumatic change in your life, may I encourage you break up your tasks into those that are procedural, those that are personality based (after all, this startup is a reflection of you and how you work), and strategic/forward looking. You must retain this last branch of work for your own plate, but if you can successfully guide your staff/co-founders to take on those tasks that can best be curated with their individual strengths, you’ll be able to carve out more personal time to work on “you.”

    If after deploying this tactic, you find that you need dedicated, uninterrupted time and must step away, you’ll have put the framework in place to keep the company (at the bare minimum) running in place. I wish you well and my deepest condolences.

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