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Beginnings & Endings: The Breakdown and Rebirth of a Business
Manage episode 348174798 series 2939512
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Today we’re in conversation with Yule Guttenbeil from mode.law (with a word to the wise, Yule is actually my husband and business partner). Over the last two years mode.law has been through a seismic change and has now relaunched under a new corporate structure. This is, truly, a phoenix story.
As many of you will know, when you consult with trusted advisors, they ask you to reflect on an exit plan for your business. But it’s rare to hear a real story of what a business breakdown and resurrection looks like. Yule reflects on the fact that it often isn’t planned for well enough or understood.
A business breakdown can be traumatic. Yule’s advice is to seek out trusted advisors. Your accountant, lawyer and your mental health professional are all essential. As Yule explains, It’s often really hard to see the writing on the wall, so they’ll help you understand where you are at, and what to do about it.
Now that Yule is out the other side of it, mode.law is better for all of it and his positive experience of relaunching a business provides some really interesting learnings. Yule shares that getting experts in the field of insolvency is particularly helpful, as well as having watertight contracts. Not only do these ease any difficulties that may be associated with the changeover of the asset but they provide a framework for dispute resolution.
Finally, Yule steps us through how mode.law, an online platform to help businesses do their own legal work, can help businesses. mode.law offers granular and detailed templates for legal documents, as well as the opportunity to book in with a lawyer to discuss legal matters.
Yule also shares a free offer that’s available to Sell Less.Mean More listeners!
Dive in for a detailed breakdown of what it looks like to resurrect a business - there is so much to learn.
LINKS:
Listening to: Cautionary Tales with Tim Harford / 50 Things that Shaped the Modern Economy
Watching: Guillermo del Toro's Cabinet of Curiosities
Playing: Zelda Breath of the Wild / The Witcher 3 / God of War
Artist: @questlove
Connect with Yule Guttenbeil:
Website: https://mode.law/
Instagram: https://www.instagram.com/p/CkxDEpmyYnY/
Connect with me:
Instagram: @rubyassembly
Website: https://rubyassembly.com.au/
YouTube: Ruby Assembly
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