Comments on: Toxic and dying startup – want to split off and start from scratch. Unethical?

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By: 1originating

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By: Anonymous

Anonymous — Sun, 06 Nov 2016 19:14:02 +0000

Definitely do it.

Find a way to reframe your experience with this start-up to support your vision to create your own company. E.g. “After working in the space for X years, we saw a customer need and opportunity to focus on whatever, so began this venture to do just that”

By: Anonymous

Anonymous — Wed, 26 Oct 2016 12:40:09 +0000

Assume you get past the legal hurdles, there’s a lot of emphasis placed on products vs sales. Most anyone can build a product: sales and distribution is what makes or breaks a company. Does the current company own the market, or have a lot of customer respect? That can prevent you from reasonably succeeding.

By: Anonymous

Anonymous — Mon, 24 Oct 2016 07:15:29 +0000

Depending on the country non competes may be unenforceable either through legal statutes or simply red tape. Best consult a lawyer.

By: Anonymous

Anonymous — Fri, 21 Oct 2016 11:24:27 +0000

Go for it. If you can raise seed money and get traction in 3 months, then do it.

I would worry more about what the existing investors in your company will do, not the current CEO (who won’t have much say-so and would look like a failure). If they are big-players, they may be able throw roadblocks in your way (threaten big lawyers, call up your seed investor and scare them, bad PR, etc).

If non-competes become a serious issue (which I doubt they will, even in US you need lots of money and high-priced attorney to enforce), then you can always sell/merge or even buy-out your current CEO & Shareholders.

Or, maybe pitch it as an Ultimatum to your CEO (ie: Mutiny). We’re all going to leave unless you do this… Or you could call up your largest shareholder and express your concern. There is no right answer — too many variables to know which will turn out best in the long run, but clearly you need to do something.

By: dana

dana — Fri, 21 Oct 2016 04:54:49 +0000

In reply to Anonymous.

Let's not pretend that running a business is rocket science. There isn't a background in this world that unqualifies someone from becoming an entrepreneur.

OP, if you understand the space and the buyer needs, you're more than prepared.

By: Anonymous

Anonymous — Thu, 20 Oct 2016 23:38:46 +0000

I wouldn’t do it. Too many red flags with all the non competes.

Also, you have no idea what it is like to run a business until you have done it. Simply being a good manager is not enough.

I’d suggest you leave and find a new place to work, or an idea unrelated to your existing startup

By: dana

dana — Thu, 20 Oct 2016 17:18:10 +0000

In reply to Anonymous.

That's a great point ... especially if it's a number of employees at once. Company would likely threaten, but anything more than that would cost more money than it's worth, or than they have.

Go for it OP