Governance - Gosh Darn It!

Your business has grown by double digits each year. Your cashflow is off the charts! When you set your business up, you set a goal to grow and sell after 5 years. As if on script, a bid comes in for your business with an above market offer. You can see the beach home you've always dreamed of, and you are excited for your life of ease.

After signing a Letter of Intent, the deal moves into the due diligence phase. Then it happens. The other side asks for your corporate documents. All that exists are your financial statements, because after all, making money is the business’ goal.

The problem is, the other party needs to know how decisions are made, how strategy is set, what the ethical behavior of the company is, and any risk management in place. The lack of information makes the other party question the business’ integrity and the entire deal. 

Suddenly what seemed like a waste of time and money is costing you a significant amount of money. This is a true situation where an ounce of prevention is worth a pound of cure.

At The Skeen Firm, we take the grind out of governance, allowing you to focus on making money. Don’t let governance issues hamstring your business or be your Achilles’ heel, leaving you to say gosh darn it. 

If you have governance questions or would like a legal audit of your business, give us a call at 724-550-6970.

*Disclaimer: this article is for informational purposes only. It is not providing legal advice. It does not create an attorney-client relationship.