Planning for Dot-Com D-Day Can Ease Pain
In the context of the ever-expanding dot-com down-fall, I recently heard someone say, "People don't plan to fail, they fail to plan."In the context of the ever-expanding dot-com down-fall, I recently heard someone say, "People dont plan to fail, they fail to plan." Well, folks, whether your company planned to fail or failed to plan does not change the color of your impending pink slip. But, if you find your e-commerce startup on the superhighway to oblivion, there are a few things you can do to make the ride less bumpy. First, as you see capital dwindle, it is a good idea to begin ranking entities to which you owe money, placing providers of mission-critical products and servicessuch as software vendors and Web hostersat the top of your list.
And, just for fun, take a look at some of the agreements and licenses you have with them. You might be surprised. For instance, falling behind on your payments might allow your software vendor to terminate its support services, restrict or prevent your access to any database of information it maintains on your behalf, or revoke your license and demand that you stop using its software. If your license is revoked and you continue to use the program anyway, you could be facing an infringement lawsuit, in addition to your imminent bankruptcy.