How To Pull The Plug

Hmm, first time I read this thread. I was waiting for dory36 to post "Burma Shave".

T-Al, what would be a ballpark price of your software business? Just a wild hare idea, and I probably can't afford it, but maybe..... It beats seducing bulls with wheelbarrows I'm sure.
 
T-Al

Just saw this thread for the first time.....I would keep the software and limit support.

Co-founded a small software firm. We started off providing 24x7 phone support. ***24x7****!!! We initially thought it was critical. A few of the techs would have the support number forwarded to their cells at night and they would get woken up when someone needed help. Only happened a few times a month. Crazy, huh? Fortunately, we we only selling and serving U.S. users. Anyway, we found as we limited support, which we did over a few years, people really didn't seem to mind.

At any rate, based on this experience, and my own personal exp. with various software and hardware, I would recommend that you provide e-mail only support. Guarantee a follow-up time and be as responsive as you can. If you find you get someone that really needs hand-holding, get their number and call them. Don't give out your number. Ever. This worked for us quite well and customers were quite ok with it.

Regarding selling the business, do not go with one of the generic biz brokers unless you know them, or know someone (you trust) that knows them. Too many simply list the business on a few websites and do nothing else. I'm a registered rep at an NASD firm that does M&A transactions. We accept a handful of private clients and specifically target companies that would be interested in the business because its a good fit or because they are actively acquiring businesses. **It's a very targeted process.** If you have any questions about selling it, I'd be happy to answer. (not a solicitation, btw, we focus on companies worth over a few million - I just joined this board and DO NOT want to be viewed as "fishing").
 
BigMoney,

My current thought, and don't hold me to this, is about $150,000. That's what I take in in two years with $0 spent on advertising. A company could make that back in one year if they released an upgrade version.

Arin,

Yes, I think I will go with the email-only-support pretty soon. Hopefully email support will also weed out some of the computer-illiterate users who account for 85% of the tech support requests.

But this liability stuff is worrying me right now, and I want to stop worrying about it.
 
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