Due diligence is the process of doing research on a deal, before you go into it. This can involve checking company records, hiring professionals to investigate the deal, etc. Its' amazing what this process throws up. Purely by chance today, I googled Brad Rosser, who was at the Business Start Up event I attended a few weeks ago. He was the guy who was being overly sympathetic to everyone.
I was shocked to find he was linked to the Inside Track property company which went bust, in April 2008, causing misery and ruin to many people. At the event, he brazenly painted himself as a business expert who could make any company better, stronger and faster, yet he failed big time with Inside Track.
I accept that anyone can fail no matter how successful they are, so this is not necessarily a big deal, but I believe Inside Track was immoral as the main risk was transferred onto the clients, who were like lambs to the slaughter. Didn't Rosser even care about the potential misery the clients could have been caused? Looks like I won't be buying his book after all.
Due diligence is always important as people will always tell you whatever they think you want to hear, in order for the deal to go through. No matter how many good things people tell, you or however much they smile, always properly check the facts, figures, and backgrounds, before you do the deal.
I was shocked to find he was linked to the Inside Track property company which went bust, in April 2008, causing misery and ruin to many people. At the event, he brazenly painted himself as a business expert who could make any company better, stronger and faster, yet he failed big time with Inside Track.
I accept that anyone can fail no matter how successful they are, so this is not necessarily a big deal, but I believe Inside Track was immoral as the main risk was transferred onto the clients, who were like lambs to the slaughter. Didn't Rosser even care about the potential misery the clients could have been caused? Looks like I won't be buying his book after all.
Due diligence is always important as people will always tell you whatever they think you want to hear, in order for the deal to go through. No matter how many good things people tell, you or however much they smile, always properly check the facts, figures, and backgrounds, before you do the deal.
Many times, after doing due diligence on a deal, it's best to just walk away.
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