Sellers Lie about the numbers?! - Acquisitions Anonymous Episode 88

Michael Girdley (@Girdley) and Mills Snell (@thegeneralmills) are joined by Elliot Holland (@ElliottEHolland) to dig into Quality of Earnings, why you need it, what you pay for, what to expect, Due Diligence processes, how to budget it and more.-----* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.* Do you enjoy our content? Rate our show!* Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.-----Show Notes:0:00 Intro1:57 What is Quality of Earnings (QoE) and what do you do at Guardian Due Diligence?3:12 I’m a buyer: What does Quality of Earnings do to prove the truthfulness of the seller’s numbers?5:23 Which are the added values and services that can be expected by a buyer?7:50 How much do you need to budget for a QoE? Does deal size matter?12:02 As a buyer, when do you need to expect to pay for the Diligence?17:20 What are other uses of a QoE report? Does it help with Banks, and potential LPs?20:21 How do you handle the seller to avoid deal fatigue?22:20 What do you request from a seller when performing a QoE? How do you cross-check that information?25:14 Have you caught a seller lying/misrepresenting stuff when performing an audit?28:14 How does a firm like yours organize structurally?30:29 What advice should you give a buyer looking for a QoE?33:14 What would you advise buyers, outside of your sphere of expertise?-----Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.-----Additional episodes you might enjoy:#83 Can you grow a business in a shrinking market? Featuring baller @WilsonCompanies as a special guest!#82 How Great Operators Win! How PE does it like pros with Mark Brooks#48 Two Landscaping Businesses for Sale - Mike Botkin of Benchmark GroupSubscribe to  weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking hereDo you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.Do you enjoy our content? Rate our show!Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.For inquiries or suggestions, email us at [email protected]