Due Diligence Course Recommendations
July 11, 2023
by a searcher from The University of Texas at Austin - Red McCombs School of Business in Austin, TX, USA
Hello Searchfunder Community,
Does anybody have recommendations for courses that provide a strong overview of typical M&A due diligence? I've found a few online that are prohibitively expensive. Curious if anybody has experience with cost-effective but useful options.
Thanks!
from University of North Texas in San Antonio, TX, USA
Remember, when you're in the midst of an M&A deal, you can easily get lost in the details. That's where partnering with someone who has the necessary skillset becomes invaluable. Collaborate with colleagues, mentors, or industry experts who can provide guidance and ensure that you make informed and logical decisions. They can help you navigate the intricacies of M&A due diligence and make the process more efficient and effective.
Best of luck with your M&A due diligence journey! LinkedIn Learning: They offer courses on M&A due diligence that are often affordable, and you can even try them for free during a trial period. Consider using these courses as a foundational resource, but remember that you can always complement your knowledge with expert advice. Coursera: Check out courses from universities and institutions on Coursera. They often have financial aid options or offer courses for a lower cost. Collaborate with colleagues or team members who may be interested in M&A and take these courses together. This way, you can pool your knowledge and discuss real-world applications. Udemy: Udemy has a wide range of courses on M&A and due diligence, and they frequently have sales with significant discounts. Partnering with colleagues or industry peers who have complementary skills can be a cost-effective way to learn. They might already have expertise that you can tap into. edX: Similar to Coursera, edX offers courses from top universities. They also have options for financial assistance. Consider forming a study group with individuals who have diverse backgrounds and expertise. This can provide a more comprehensive understanding of M&A due diligence. YouTube: There are educational channels on YouTube that cover M&A due diligence topics. Collaborate with team members or industry connections to watch and discuss these videos together. This can help you gain multiple perspectives and insights. Books and eBooks: Investing in books or eBooks on M&A due diligence is a good idea. Consider forming a book club with colleagues or professionals in your network. You can read and discuss these resources collectively. Industry Associations: Some industry associations and professional networks offer webinars and workshops on M&A due diligence at a reasonable cost. Joining such networks might provide access to such opportunities. Additionally, leverage your network to find experts who can guide you through the due diligence process.
from University of Tennessee in Nashville, TN, USA
The first thing that I would suggest would be to read. I'm not being facetious here. 'Private Capital Markets' -Slee, 'The Handbook of Financing Growth' -Marks, Robbins,..., 'Middle Market M&A' -Marks, Slee, Blees, Nall, 'Valuation for M&A' -Mellens, Evans, 'Making Mergers Work' -Pritchett all occupy shelf space in my office. Reading is time-consuming and unpopular in the Tik Tok world in which we live. Don't follow the crowd. Read.
The second thing that I would suggest is have a command of financial statements and an understanding of tax returns. This means understanding the inter-connectivity of the balance sheet, income statement, statement of cash flows, and statement of other comprehensive income (for large and middle-market deals), and the differences in presentation between book financials and tax financials. The financial statements and tax returns can offer more insight into how a business is run and the integrity of its ownership than the sales pitch that the owners and/or advisors will ever provide. This understanding will also save you time and tens of thousands of dollars in transaction team fees by allowing you to see past the smoke and mirrors that many advisors create to sell a buyer on a business for sale.
The third action that I would recommend is to identify virtual communities, such as this one, and virtual resources to expand your knowledge. M&A Science has hours of video interviews with diligence and integration professionals. There are multiple podcasts available, including one indirectly related to diligence such as Jon Stoddard's 'Top M&A Entrepreneur's Podcast.' Several of the previous respondents have their own courses to sell or have identified third-party courses to buy. I do not endorse or shun any, but caveat emptor.
The final action that I recommend will be the most difficult. You can't truly learn to be an artist without actually creating the art. Trial and error is true in any field and M&A diligence is not excepted. The more you spend time practicing the art, learning the specific industry norms, and interacting with Sellers, advisors, and transaction professionals, the more seasoned you will become. The basal knowledge that can be learned in books, the financials, and/or third-party resources is never as important as experience.