When it comes to the process of selling your business, no phase is entered into with more dread than due diligence. I’ve heard a lot of colorful euphemisms for due diligence from business owners over the years. The most common has been to describe the experience as the business equivalent of a colonoscopy. Another analogy harkens back to adolescent memories that most of us would rather forget. One seller told us that going through due diligence felt like he was back in junior high school, standing naked in the locker room with everyone staring at him. Ugh.
While I wish I could say that due diligence isn’t all that bad, I believe strongly in setting realistic expectations about selling your business. Whether it’s feeling exposed or probed (is there an alien-abduction analogy in here somewhere?), due diligence is no fun. Here are three ways you might feel during due diligence, and some tips on how to get through it:
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What Due Diligence Really Feels Like - Synergy Business Services:
For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.
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