24. Surviving due diligence
Undergoing ‘due diligence’ can be a horrific experience if you are unprepared, but with the right preparation it can go smoothly with minimal disruption.
Due diligence is not unlike having your underwear drawer on show to the world; you wouldn’t mind that much, but one of the team seems to want to sniff your pants!
‘Due diligence’ is usually carried out on a company when an investor or another company is seriously interested in investing in or merging with your business. They need to be sure that all of the claims they have read in the business plan, seen in presentations and the answers they have received to their queries over the past weeks or months are actually true. It is a form of protection for them but can ...