M&A Talk: #1 Podcast on Selling a Business
For New Sellers: Financial Due Diligence – Why It’s Important to Prepare for the Sale of Your Company
Sep 6, 2023
Patrick O’Connell explains the financial due diligence process during a transaction and gives advice to sellers on how to prepare their company for sale. He discusses issues that arise during diligence and highlights the biggest mistakes sellers make. The importance of preparation and hiring a CPA firm is emphasized. Overall, the podcast provides valuable insights for potential sellers.
30:19
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Quick takeaways
- Preparing a company for sale from a financial standpoint is crucial to avoid delays and starting off on the wrong foot.
- Financial due diligence is a comprehensive and time-consuming process that requires significant man hours and comprises approximately 60% of the entire diligence process.
Deep dives
Importance of Financial Preparation for Sale
Preparing a company for sale from a financial standpoint is crucial, especially for small to mid-sized businesses. Lack of preparation leads to delays and starting off on the wrong foot. It is important for sellers to get their house in order before the transaction begins. This includes aligning with appropriate advisors and dedicating time and resources to properly prepare the company.
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