The first thing is to approach the discussion with care and empathy. By asking for advice, you are already showing that you care about your team which is a great start. I highly recommend the book, Crucial Conversations, which can help you to approach this challenging discussion in a way that everyone feels safe to discuss a difficult topic. As others said, honesty is needed for certain. Your circumstances may have changed since you founded the company or the company may not be on the path you envisioned when you started. Knowing what you need, what the company needs and how best to meld those needs will be important to getting a good resolution. Brainstorming with your team can help with this. Definitely, read Crucial Conversations, which will give you the right approaches and language to use.