Ask HN: What would you do with this “zombie” startup?
I decided a few years ago that it wasn't growing fast enough to be a "startup" and so I never raised money. Instead I handed the reins over to the team that was in place, and got a tech job, where I am pretty happy and well paid. I spend 10-20 hours a week on nights and weekends managing the business.
Since it was my own company, I took on some debt and liability to get it going, and I still backstop any financial problems. This has become exhausting and stressful, and I don't really have enough time or focus to solve these problems. I was often surprised by expenses that came in - I am more of an engineer / product person, and so I was never really good at operations.
I'd like to sell it or bring in a partner who could maybe infuse some cash and operate it better than me. I have tried bring others in, but haven't really pursued it much. It has some tech and IP attached, but not sure how much that's worth. I still believe it has the potential to be a nice "lifestyle" business generating a few hundred K a year in profit, but we never seem to get there. Also shutting it down would probably cost me a few hundred thousand in personally guaranteed liabilities.
Looking for perspective, sympathy or advice on what to do next here.