Note: Running weekly in FromGregsHead.com, PKF Texas – Entrepreneur’s Playbook® is a continuing series of tips brought to you by Greg Price. These run Sunday at noon during the BusinessMakers Radio Show on 92.1 FM.
Greg: This is PKF Texas and another chapter of the Entrepreneur’s Playbook. I’m Greg Price, director of consulting solutions, and I’m here again with Dan Ramey, an audit director at PKF Texas. Dan, welcome back to the Playbook.
Dan: Thank you, Greg.
Greg: So, Dan, the last time we were here, the subject was mergers and acquisitions and due diligence, and I think you covered the perspective from, say, the seller. Now we’re talking about the buyer. What’s different about that?
Dan: Well, Greg, with the buyer, we actually sit down with the buyer, really understand their objectives, their strategy, what they’re trying to do with this company, and really what are their concerns on what they already know about that. So, from that, we develop procedures to go into the company, look at whatever those areas are.
Greg: So, what’s the value when you sit down in advance and cover some of these concerns?
Dan: The key is that we can focus. When we get to the client, we can focus on what they’re looking for. When we get into those companies, do a deep dive into those areas, really find out what’s going on. The key is we don’t want any surprises after the acquisition. We also want to be sure that the forecasts that the client has developed are correct.
Greg: That’s a great value proposition, to give them the answer of no surprises with the potential target. Thanks for sharing that with us today.
Dan: Thank you.
Greg: You bet. This has been another Thought Leader Production, brought to you by PKF Texas: The Entrepreneur’s Playbook. Tune in next week for another chapter, and remember, if you’re looking at buying or selling companies, give PKF Texas a call.