Many business owners shy away from exit planning, especially if they’re not actively thinking about selling. Transaction readiness isn’t just about preparing for a sale, though. It’s a smart business strategy that adds value at every stage of ownership.

Perhaps you’re looking into tackling your own accounting needs, or maybe you have a friend that can get into your company’s books on the weekend.

Both options may see viable and accessible, but both will likely lead you to more questions, concerns, and missed opportunities.

Acquiring wealth is the first step in building a family wealth enterprise, but only just the beginning. Having access to information that helps you manage the complexities of that wealth and avoid future costly mistakes is critical to long-term success.

The term “due diligence” is one that’s tossed around in a number of business sectors, and can even be heard in everyday, casual conversations. When making a big decision, one might ask: “Have you done your due diligence?” In the simplest of definitions, it’s the careful assessment of the pros and cons of a transaction.