One of the most unfortunate things that can happen to a mobile enterprise is going bankrupt. When it comes time to give up the business, deciding what to do with the apps that have been created can be quite difficult.
One of the most unfortunate things that can happen to a mobile enterprise is going bankrupt. When it comes time to give up the business,
deciding what to do with the apps that have been created can be quite difficult. It is perhaps most difficult because one, or many, of the apps could still be profitable in the mobile market, or at least generate a significant revenue stream. In such an instance there are only a couple options to be taken, but they can nonetheless be exceedingly difficult to choose between.
Retire The Apps With The Business
If your mobile enterprise is going out of business, it may seem prudent to take its apps down with it. In some cases, most notably when a company's apps are losing money, it is necessary to deactivate all mobile offerings associated with the business. This, along with closing your business can be very hard to follow through with, primarily because you have put so much time and effort into it all. However, you should always know when to get out. Cutting losses and closing the business may seem like the ultimate failure in terms of success in the mobile market, however, getting rid of your mobile apps can be just as necessary. Neither is a true failure, sometimes it just needs to be done, and is subsequently much more beneficial than dragging the business out longer while continuing to incur losses.
Sell Them
Instead of taking your company's apps down as the business goes bankrupt, there is also the option to sell them. This is an especially useful option if some of your apps are still producing revenue. If such is the case, then it is more than likely that someone, or perhaps one of your competitors in the mobile market, will want to buy the apps. Even if the apps are losing money as your company goes bankrupt, there is still the chance that a company will see potential and want to buy them. Regardless of how much money your apps fetch as your enterprise goes out of business, anything is better than nothing. Any money generated from the sale of your apps as your company is in the red will undoubtedly help relieve some of the financial burden put on you.
Keep Your Apps, Save The Business
Likely the most attractive option when your mobile enterprise is forced to file bankruptcy is remaining in business. Unbeknownst to some business owners, it is possible to file bankruptcy but still remain in business. Now, this may, or my not, require you to sell your apps depending on how much money you owe. However, you will undoubtedly need to decide whether doing so is worth saving your business. Ideally, you will only have to file bankruptcy and still get to keep your app and business.
Conclusion
By considering the three aforementioned options, you should be able to decide on a viable solution for your mobile enterprise when in financial turmoil. Hopefully, all that will be required is filing bankruptcy, however you may also need to sell your app and/or terminate your business all together. Ultimately, the choice is yours to make, but in doing so, you should know that no matter what the circumstances of your business are, there are options for you to consider when in comes to the future of your company.
