Exiting Your Business – Acing the Due Diligence Test | Small business news; tips; networking

Posted by IanDSmith under Strategy
From http://www.portfoliopartnership.com 4241 days ago
Made Hot by: advertglobal on April 12, 2013 8:57 am

If you decide that 2013 is the year to sell out there is a key process you need to pass - the Due Diligence Test. To beat the odds of 1 in 6000 (27.3m US businesses, only around 6000 will exit this year for $10m or more) you will need to pass through this rigorous process.Many fail this test. My recommendation today – prepare for due diligence before you embark on the exit process.

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Comments

Written by IanDSmith
4241 days ago

And the due diligence process can be a huge time suck for sellers just when they need to continue running the business at full speed.

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Written by AngelBiz
4241 days ago

As a seller (and buyer) of small business due diligence is the most crucial part of the selling process. As a seller, establishing credibility by providing all the necessary documents along with explanation of "unusual" items is key to making the due diligence go faster and smoother. Of course, there is a significant amount of prep work required even before you put the business for sale. If you set the right price, advertise through proper channels and provide credible documents the process of selling the business can be lot less painful than it usually is for most sellers.

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