Due diligence is crucial to selling your business, and surveillance solutions are essential to get the evaluation you deserve. The due diligence phase involves the potential buyer digging deeper into your company’s information to understand your business and assess its risks. During this phase, the investor receives a lot of information about your company. However, during the formal due diligence process, your attorney and accountants will be called in to confirm the information you’ve shared and uncover additional information. This process will take longer if your financial and operational circumstances are more complicated. But you can make the process go smoothly, usually three to six months, if you know what to expect. Here are a few points to keep in mind:
Be Prepared Before You Begin
Selling your business means telling investors and new owners everything they need to know about running the business. This includes finance, operations, legal, intellectual property, customers, insurance, human resources, and more. The biggest mistake is when companies organize this information only after receiving a due diligence list from the buyer. It is always best to prepare financial documentation before starting a process. You may need to make some changes before outsiders can accurately evaluate and record your information. Some of the points buyers may ask about do not apply to the value of the business. After discussion, both you and the buyer can agree not to provide everything they ask for.
Determine Your Numbers
Don’t let a bidder tell you how much money your …