the startups.com platform about startups.comCheck out the new Startups.com - A Comprehensive Startup University
Education
Planning
Mentors
Funding
Customers
Assistants
Clarity
Categories
Business
Sales & Marketing
Funding
Product & Design
Technology
Skills & Management
Industries
Other
Business
Career Advice
Branding
Financial Consulting
Customer Engagement
Strategy
Sectors
Getting Started
Human Resources
Business Development
Legal
Other
Sales & Marketing
Social Media Marketing
Search Engine Optimization
Public Relations
Branding
Publishing
Inbound Marketing
Email Marketing
Copywriting
Growth Strategy
Search Engine Marketing
Sales & Lead Generation
Advertising
Other
Funding
Crowdfunding
Kickstarter
Venture Capital
Finance
Bootstrapping
Nonprofit
Other
Product & Design
Identity
User Experience
Lean Startup
Product Management
Metrics & Analytics
Other
Technology
WordPress
Software Development
Mobile
Ruby
CRM
Innovation
Cloud
Other
Skills & Management
Productivity
Entrepreneurship
Public Speaking
Leadership
Coaching
Other
Industries
SaaS
E-commerce
Education
Real Estate
Restaurant & Retail
Marketplaces
Nonprofit
Other
Dashboard
Browse Search
Answers
Calls
Inbox
Sign Up Log In

Loading...

Share Answer

Menu
Solution Selling: I need to sell my Android app project to a company quickly. It is a 3 part education app that is new to the market basics of the situation in details.
TW
TW
Tom Williams, Clarity's top expert on all things startup answered:

I'm sorry to hear about your current predicament. No matter what happens in the next three weeks, I would devote a good portion of your current thinking and planning to what will happen in 3 weeks, assuming that you can NOT pay the $100,000 bill. By knowing what is most likely to happen if you don't get what you need to get done done, you can be more prepared for the worst case scenario than by ignoring those details until 3 weeks from now.

Unfortunately, you have many things working against you, not the least of which is that any time a seller has extreme time pressures, they are at a disadvantage. Any buyer or investor will discover your time pressure and the reasons why you are at where you're at, which will put you in a considerably weaker position to negotiate. $70,000 for any asset sale of a product that failed to achieve traction is considerably high, higher than many apps currently listed for sale, so unfortunately, I would say that it's highly improbable that you will achieve your minimum sale price in your 3 week deadline.

The last thing working against you is that it seems that you have run out of energy and the will to survive. When an entrepreneur runs out of their will for their company to survive when it's struggling to do so, the Company inevitably dies.

If you have energy left, then I would do everything you can to buy more time with your contract engineering team. Many professionals aren't even really reactive to email from now through January 6th, and then that first week back, are digging-out of an avalanche of more urgent emails and requests. So 3 weeks will likely go back before you can even get an email back to schedule a meeting which might be between 1 to 3 weeks after that email exchange.

I would say that if you want to get back on the right path, then you'll need at least 3 months to resolve the issues with your contract team, and put yourself in a position to even potentially raise money.

But based on you indicating your belief that other projects have a better return on investment, it doesn't sound like you lack the motivation to keep this going.

Therefore, I think the only potential avenue out would be to offer your resignation to the investors and creditors and find a way to get the developers to take over the Company by converting their debt to equity thus leaving the investors with still some potential to see their investment returned in the future, should the developers find some way to monetize this.

That's all the help I can offer not knowing the granular details of your scenario. Normally I would offer a call, but in this case, I think you're better advised by a lawyer who can review the actual state of corporate affairs including the contractual relationship with the developers. If you have documentation that makes it clear that they have far exceeded their authorized scope, then you might have grounds to dispute a significant portion of their bill. But either way, it sounds like at this stage, you should be consulting counsel as to your next step.

I'm hopeful this is at least somewhat helpful despite it not being the answer you seek.

Talk to Tom Upvote • Share
•••
Share Report

Answer URL

Share Question

  • Share on Twitter
  • Share on LinkedIn
  • Share on Facebook
  • Share on Google+
  • Share by email
About
  • How it Works
  • Success Stories
Experts
  • Become an Expert
  • Find an Expert
Answers
  • Ask a Question
  • Recent Answers
Support
  • Help
  • Terms of Service
Follow

the startups.com platform

Startups Education
Startup Planning
Access Mentors
Secure Funding
Reach Customers
Virtual Assistants

Copyright © 2025 Startups.com. All rights reserved.