How can an investor group make the diligence process manageable? 

Here are some steps:

– Standardize the diligence process
– Break it down into subtasks and define the process for each task
– Assign the tasks to team members
– Set target dates for completion and have periodic check-ins with each team member 
– Focus on the key risks and not every aspect of the deal
– Make clear to the startup how the diligence process works
– Keep the startup apprised of the progress and status of their deal

In most cases, the startup will find the process manageable if they understand how it works and if they see consistent progress to the goal.

A good diligence process often provides new information and insight to the startup.

Reducing time, making it efficient, and helping the startup, are the signs of a good diligence process.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Disclaimer:
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.