Tnias Saint — Sat, 28 Apr 2007 15:16:52 GMT

I’d stick to what you’re good at and learn about the things that you’re not.

Since you’re not familiar with the benefits of incorporating a business and setting up employment contracts, I would focus on your product and the programming so that the business doesn’t being the focus of your effort.

Others have sugguested hiring a good lawyer. This is a great idea. Good accountants are also valuable. However, there are also lots of local small business groups who would be happy to put you in touch with someone who knows the right answers and can work with you.

To briefly answer you question: Yes. Incorporate, setup real employment terms, make the business something physical. This will add a great deal of value to a potential buyer. Your product will make or break the business, but the way that you set the business up will make it attractive to a buyer.

Tnias Saint — Tue, 15 May 2007 03:52:44 GMT

Being honest and as transparent as possible are important.

If there are good reasons for the lay-offs and the people who remain accept those problems and understand that laying off was the best solution, then motivation will dip, but return.

Post-layoff motivation is directly tied to pre-layoff leadership.

The people who will be most effected by the layoffs are the people who think “Bobby should have been fired before Sally”. Listen to the employees who are effected. Take the time to meet with them directly and listen to what they’re saying. Since you’ve already acted by laying off staff, simply being there for the remainder will remind them that they’re valued.

Found+READ: Comments by Tnias Saint