Startup wind downs are not something founders usually think about until there is no other option. But for founders who find themselves in that position, juggling all the elements of a wind down (aka going out of business) can be tricky both logistically and psychologically. However, if you approach it the right way, there can be positive legal and financial implications. In his role of VP at Sherwood Partners, Andrew Kitirattragarn, helps founders navigate the best possible route through the wind down journey. He was inspired to do this work after going through a difficult wind down himself at the CPG startup he co-founded, Dang Foods. Andrew has learned that if the wind down is done well, a founding team can gain a sense of closure (and not failure) at the end of the process.Andrew emphasizes that doing even just a small amount of advance planning when your startup is not in immediate financial distress, can alleviate the risk of having to act hastily or haphazardly if the worst happens.He shares valuable insights on:Why planning for a wind down at 12 months left of cash runway is keyThe empowering and positive aspects to the process that can leave in you a stronger financial positionHow preparing for the worst case scenario can reduce your concernsSupport & resources to help you come out the other side ready for the next big thing!This is a much-needed conversation that we hope gets the ball rolling for important talks with your team! —----Stay connected with our host, Kate Adams, here on LinkedIn!

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