Situation
The side project that grew
It started as something to do at weekends and now turns over more than the day job.
The pattern
Registrations in a personal name. Accounts opened with a private e-mail address. No separation between household costs and company costs. And a set of processes that exist only in one head.
Why it matters
None of it prevents a sale, and all of it delays one. Every item has to be untangled before a buyer can take over, and untangling is far slower under time pressure.
The order to fix it
- Register domains, trademarks and accounts in the name of the company
- Separate private costs and give the accountant a clean starting point
- Write down how orders are handled, in whatever form
- Give a second person access to everything critical
Three months of evening work is usually enough, and it also removes the risk of the whole thing depending on one personal e-mail account.