In God we trust, all others bring data
Economist, Clive Humby, is noted for saying that “data is the new oil” within our businesses. And there is no more important time to have accurate and effective data than when you want to sell your business to a third party. Acquirer’s will have many questions when probing your business for potential acquisition, and the vast majority of their questions, they will want to have answered supported by your data.
Imagine yourself buying a company. You’ll ask many questions and the majority of the answers you will hear you won’t want to take on faith alone. You’ll ask to see data that backs up the claims the seller is making and for the answers they are providing to your questions. When selling your business, take time well before starting the exit process to ensure your internal data is available to support the due diligence by an acquirer. You will want to review your own data trends (financials, customer, vendor, operational and employee related data) to fully understand what it’s conveying about the strengths and even challenges within your company.
We help our clients leverage their data, their oil, to help optimize the exit plans for their business. Contact us and we’ll help you think through how to dig for the oil in your business.
