Ep 246 Closing a Business the Right Way: Insights from SimpleClosure CEO Dori Yona
Episode Summary:Shutting down a business is a complex and often overwhelming process—but it doesn’t have to be. In this episode, we sit down with Dori Yona, Co-Founder & CEO of SimpleClosure, a venture-backed startup using technology to streamline business closures. Dori shares his personal journey as a founder facing the challenges of winding down a company, what he learned, and how those experiences led to building a solution that reduces a months-long process into days or weeks. From understanding the legal and financial considerations to ensuring a smooth transition for all stakeholders, this conversation is packed with practical advice for founders, investors, and anyone involved in the startup ecosystem. Guest Bio:Dori Yona is a seasoned entrepreneur and startup founder who understands firsthand the challenges of shutting down a business. During his previous venture, his company came close to closing, and he was tasked with navigating the shutdown process—only to find a lack of clear information, guidance, and support. After dealing with lawyers, accountants, and endless confusion, he realized that 90% of startups that raise capital will eventually shut down, yet the process remains a daunting mystery. That experience led him to co-found SimpleClosure, a company dedicated to helping startups wind down properly and efficiently through technology-driven solutions. Key Topics Discussed:✔️ The step-by-step process of winding down a business✔️ The do’s and don’ts of business closures and why they matter✔️ The timeline and costs associated with shutting down a company✔️ Best practices for ensuring fair treatment of employees, investors, and creditors✔️ How founders can turn a difficult shutdown into a learning experience Guest Website & Links:🔗 Dori Yona on LinkedIn🔗 SimpleClosure Website Questions Covered in This Episode: What are the key do’s and don’ts when shutting down a company, and why are they important? Can you walk us through the wind-down process step-by-step? Who is responsible for each part of the wind-down, from decision-making to execution? What is a typical timeline for winding down a business, and what factors affect it? What are the costs involved in closing a company, and how can founders manage them efficiently? If a company sells its assets, does it still need to formally close, or are there alternatives? How can founders ensure employees, investors, and creditors are treated fairly during a wind-down? What are the main differences between an asset sale and a stock sale in a business exit? Are there any legal or financial implications of asset vs. stock sales that founders should consider? Can you share a real-world example of a successful wind-down and what made it effective? How does experiencing failure as a founder contribute to future success? If you could give one piece of advice to a founder facing the decision to shut down, what would it be?