In running a deal follow-up process, you’ll need to create a diligence report.
Here are some key points to consider:
– Start with a template that lists the required information.
– Include instructions in the original template for the team members to follow.
– You may be cycling through many members so you should write out the expectations for each task.
– Keep the report short and to the point.
– Build the report as you go and capture information in one place.
– The deal lead should edit the final report for readability and consistency. Everyone on the deal team has access to the report so the status is clear and what’s not yet done is obvious.
– Capture not only the data but also the deal team’s thoughts and impressions.
– Store the diligence report in the folder or box account along with the supporting information.
– Keep a list of all diligence reports for future review.
– Finally, share the report with the investors interested in joining the deal.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.