Due diligence is often seen as an action taken by the buyer in a business transaction; however, it is just as important that sellers are completing a thorough and timely due diligence themselves. In this week's episode of Dealmaking with Laura DiFrancesco, Laura discusses the proper steps that sellers can take in due diligence to set themselves up for a smooth transaction. She highlights facets that sellers should consider during due diligence such as confidentiality agreements, access to facilities, and more. Most importantly, Laura emphasizes the importance of preparing answers to potential questions that buyers may have. This will cultivate a feeling of trust and expertise between the seller and buyer. A lot can go wrong in a business transaction without proper due diligence, so it is important that both parties are doing their part.
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What You’ll Learn
Key Considerations Entering Due Diligence
// Sellers should consider components such as confidentiality agreements, access to facilities and personnel, and potential documentation before entering due diligence.
Timeline for Due Diligence
// It is important that sellers review questions and documentation with attorneys prior to putting the business up for sale.
Maintaining Deal Momentum
// Sellers should prepare to answer many questions thoroughly and in a timely manner. Efficient responses cultivate trust and allow the transaction to close cleanly.
Due Diligence on Buyers
It is necessary for sellers to check in on the buyer’s organizational documents, business owners, assets, and more to ensure that the buyer is the right fit for your business.
Episode Highlights:
[00:00] Introduction to Dealmaking with Laura DiFrancesco
[01:56] Key Considerations entering Due DIlligence
[05:33] Timeline for Due Diligence
[09:35] Dean Street Law
[10:39] Preparing for Buyer Questions
[13:09] Maintaining Deal Momentum
[14:32] Due Diligence on Buyers
[19:41] Outro
Resources Mentioned
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Credits
Host // Laura DiFrancesco
Executive Producer // Teagan Rowland
Editor // Jules Bernardo
Associate Producer // Jules Bernardo
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