“One last thing, can we see your books?”
You finally arrived at the end; you have an interest from someone to buy your company. But they want to look under the hood.
Are your books in order? Are you 110% comfortable with what your buyer will find?
Here at Profit Matters we have several team members that have bought and sold
businesses and one thing they will all tell you is that bad books almost always mean a bad deal.
The best way to avoid this is to have a third party look at your books and give you an honest assessment.
From dramatically reduced valuations (even after the deal is accepted) to outright deal-killers bad book can make or break you and in a marketplace that moves quickly delaying access to your books while you clean things up is just as bad as not providing them at all.
Just like going to the doctors when you are not sick for a check-up, it is always a good idea to have an outside source look on occasion and give you their professional opinion.
“If only we had caught it earlier” is something you never want to hear from a doctor and in the same way finding problems in your books when you are at the bargaining table is detrimental.
If you’re not sure where to start or you would just feel more comfortable having a professional look Profit Matters offers a full suite of bookkeeping, accounting, and financial due diligence services to make sure your business is ready for sale. Get that second opinion, have that check-up now to make sure that problems don’t arise in the future, especially when you have a buyer for your business on the hook!