It is during due diligence that potentially things can really go wrong. When selling your business, you cannot afford to be unprepared or have surprises occur during due diligence.
Among all of the steps involved in selling a business, it is the due diligence phase when the transaction comes into focus. Due diligence typically begins after the buyer and seller have signed a letter of intent (LOI), indicating their commitment to completing a deal. Now, during due diligence, the buyer can look under the seller’s hood and see how well the business engine really runs. If you are not fully prepared for due diligence, at a minimum it might increase the time and costs to sell your business, and at worst it could ruin your deal altogether.
Watch this short video, and download this complimentary tool, to start the process of preparing your company for due diligence.