Right now is the time to discuss the eventual transition and the due diligence checklist. Planning ahead for your potential acquirer’s required list of documents is an effective blueprint for the organization of your files and records.
You may say, “I’m never going to sell my business,” or even, “I’m giving the business to my kids so I won’t have to worry about the buyer’s due diligence.” But knowing what an acquirer wants to see and why will give you a big head start on what records are important to anyone who will own, manage, or invest in your company.
It is essential to have these documents in order from day one, because you can’t afford to wait until Mr. Big comes knocking. What are you going say then? “Oh wait just a minute… please stay interested! I know I’ve got that information around here somewhere!”
Michael Houlihan and Bonnie Harvey co-authored the New York Times bestselling business book, The Barefoot Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine Brand. The book has been selected as recommended reading in the CEO Library for CEO Forum, the C-Suite Book Club, and numerous university classes on business and entrepreneurship. It chronicles their humble beginnings from the laundry room of a rented Sonoma County farmhouse to the board room of E&J Gallo, who ultimately acquired their brand and engaged them as brand consultants. Barefoot is now the world’s largest wine brand.
Beginning with virtually no money and no wine industry experience, they employed innovative ideas to overcome obstacles, create new markets and forge strategic alliances. They pioneered Worthy Cause Marketing and performance-based compensation. They built an internationally bestselling brand and received their industry’s “Hot Brand” award for several consecutive years.
They offer their Guiding Principles for Success (GPS) to help entrepreneurs become successful. Their book, The Entrepreneurial Culture: 23 Ways To Engage and Empower Your People, helps corporations maximize the value of their human resources.
Currently they travel the world leading workshops, trainings, & keynoting at business schools, corporations, conferences. They are regular media guests and contributors to international publications and professional journals. They are C-Suite Network Advisors & Contributing Editors. Visit their popular brand building site at www.consumerbrandbuilders.com.
To make inquiries for keynote speaking, trainings or consulting, please contact sales@thebarefootspirit.com.
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