There's no time to waste if your startup appears to be headed down the wrong path, writes Howard A. Tullman, chairman of the Tribeca Flashpoint Media Arts Academy. "If you're going to try to save the business, the necessary cuts have to be quick and deep and over as soon as possible so the survivors can get back to work," he writes. If your business simply can't survive, manage the path to liquidation to protect -- as much as possible -- investors, employees, customers and yourself, Tullman advises.

Related Summaries