Jen: This is the PKF Texas Entrepreneur’s Playbook, I’m Jen Lemanski and I’m here with Kimberly Wood, a senior manager on our transaction advisory services team. Kimberly, welcome to the Playbook.

Kimberly: Thanks for having me.

Jen:  Kimberly, so what are some ways to facilitate the due diligence process?

Kimberly: Well, Jen, you want to get your house in order both financially and operationally. Financially, you want to be able to take a good dive into your financial statements and tell the story. You want to show potential for growth. You want to be able to break out the different branch levels if there are any different revenue streams. Say a potential buyer comes in and they just want to do buy one part of the business or carve out another are part of the business; you want to be able to take that out easily and show the potential for growth.

Jen: So, Kimberly, what role does a firm like ours play in that process?

Kimberly: We help them get prepared to for that process. We help them make sure that they have the right financial statements, the right processes in order, and asking them questions so that they can answer those potential due diligence questions for the potential buyer and be able to identify any potential issues that might come up. Or just telling the story, selling their business, showing the potential for growth and really getting a premium for their business.

Jen: Kimberly, thanks so much for being here today. I really appreciate it.

Kimberly: Sure. No problem.

Jen: This has been another thought leadership production brought to you by PKF Texas – The Entrepreneurs Playbook. For more information about this topic, visit www.pkftexas.com. Tune in next week for another chapter.