The longest part of a buy/sell transaction, and often the killer of the deal....Due Diligence.
When should due diligence be done:
- When you want to purchase another company to expand your current business;
- When you want to exit your business; and
- When you're looking to create new offers, enter new markets, or making major changes to your company.
The most common part of due diligence is the financial aspect, but you want to dig deeper to make sure what you’re doing is in line with your current plan, e.g. if you’re purchasing a company will there be synergies that you can utilize to eliminate duplicate costs thereby increasing your profits; will the team and culture of the business being acquired fit in with yours; what is the data telling you about sustainability?
Explore different areas of the targeted company that you should consider when doing your due diligence.
Identify the documents you should be requesting.
Understand the deal structure.
These are just a few things covered in today's episode.
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