As a supplier, we take our Due Diligence services seriously and prevent as many potential problems as possible. A dry test, courtesy of a proven consultant, will put the business under the microscope in a much more favorable environment than a real-life scenario where every mistake, omission, or surprise is potentially money out of the supplier's pocket. But for those who prefer more hands-on training, consider these three ideas:
Be objective. Look at your business from the buyer's point of view and be prepared to identify any apparent flaws.
Centralize your information. Having all documentation and information in one central repository makes the Due Diligence service smoother.
Check for signatures. Outdated or unauthorized contracts are essentially worthless for Due Diligence, especially if they are to be transferred to a new owner.