Chip describes selling the business like untangling a big pile of string. You methodically work out each strand until it's free, and then go back for the next one, hoping at some point to reach the last rope (insert your own "last straw" joke here).
Our chores include things like transfer the domain name, get a lease termination signed by landlord, cancel credit cards used for business purchases, notify phone company and power company of new ownership, file dba cancellation, copy and send email list to new owners, notify advertising contacts of change, pay final bills, collect invoices and receipts needed for tax purposes, find a place to store those invoices and receipts, get everything you do notarized (at least it seems like it), close LLC, close business bank account, pay final sales and use tax, closeout payroll.
Each day we get a few more things off the list. Step by step by step. Looking for that last rope, the one keeping us tied to the dock.
Our chores include things like transfer the domain name, get a lease termination signed by landlord, cancel credit cards used for business purchases, notify phone company and power company of new ownership, file dba cancellation, copy and send email list to new owners, notify advertising contacts of change, pay final bills, collect invoices and receipts needed for tax purposes, find a place to store those invoices and receipts, get everything you do notarized (at least it seems like it), close LLC, close business bank account, pay final sales and use tax, closeout payroll.
Each day we get a few more things off the list. Step by step by step. Looking for that last rope, the one keeping us tied to the dock.
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