Are the Books Cooked? How to Vet a Small Business Before You Buy

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by a professional from Harvard University - Harvard Business School
in Atlanta, GA, USA

5yrs ago

Are the Books Cooked? How to Vet a Small Business Before You Buy

Originally recorded on the Rising Tide Startups Podcast. ►EXECUTIVE SUMMARY 1) THE FIRST QUESTION IS ALWAYS THE SAME: Are the books cooked? Triangulate the seller's numbers against the bank statements and tax returns before you believe anything else. 2) AN ENGINEER'S EYE ON THE NUMBERS: Trends in the data tell the real story of a business. If the math doesn't explain itself, keep digging. 3) DILIGENCE IS A TRUST WALK WITH THE SELLER: How to collect the data you need without blowing up the relationship. ► CHAPTERS 0:00 How to vet a small business acquisition 0:32 From engineering to business due diligence 2:20 Due diligence in 45 seconds: is the business worth the price? 4:40 Why data trends reveal the true story 7:52 Are the books cooked? Why bank statements don't lie 21:14 The trust walk with sellers during due diligence 29:12 Market valuations and deal flow

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