VIP Class Notes (Whitney) (S)

Demo StudentYannis

Homework

thepowerofwhenquiz.com – The Power of When by Michael Breus

Try this, figure out your chronotype and plan your perfect day.

Vocabulary

quantify (v) to give something a numerical value (numbers)
To quantify the number of apples in my fridge, we would have to count them.
To quantify 10 apples, 100% of the contents is apples.
To quantify 8 apples and 2 bananas, 80% would be apples and 20% would be bananas.

alternatives (n) options, other choices
That dress is ugly, are there any other alternatives?
This flight is full, can you arrange an alternative?

solutions (n) fixing a problem, an outcome
This problem requires a solution.
I have a solution to your dilemma.
Can you help me solve my maths solutions?

situation (n) something that is happening.
What’s the situation?
If you don’t do your due diligence, you’ll get yourself into a bad situation.

irratable (adj) someone who gets angry or frustrated easily
I am quite irritable after not sleeping well

fatigue (n) a feeling of extreme mental/physical tiredness. 疲劳
After owning a business for over a year, I still feel fatigued every day.

inordinately (adv) very
I yell inordinately when I’m very frustrated.

insominac (n) 失眠症患者
I can’t sleep every night, I’m such an insomniac.

Due Diligence for a Small Business:
Even when dealing with a small business, due diligence can be a long and complicated process.

  • Check business records (查看记录)
  • Check references (è¯æ˜Žäººï¼è´Ÿè´£äºº)
  • Look for “bad faith†(ä¸è¯šå®ž) or hidden secrets
  • Hire an accountant (会计) and or a lawyer
  • A confidentiality agreement (ä¿å¯†åè®®)
  • Due diligence checklist (å°½èŒè°ƒæŸ¥æ¸…å•)

Due Diligence Checklist: 

  1. Financial DD ( completed in previous lesson)
  2. Legal DD
  3. Operational DD
  4. Product DD
  5. Human Resources DD
  6. Asset DD
  7. Environmental DD
  8. Tax DD
  9. Intellectual Property DD
  10. Customer/Client DD

Legal Due Diligence is when we seek information about the business to make sure that the business is beneficial. The buyer needs to be certain of the legal status of the company and any possible risks that it may be facing.

  • Assess and quantify the main legal risks (How much of risk is there? How much money would we lose if the business fails)
  • Provide alternatives/solutions to reduce risks (manage cash flow, control future expenses, reduce existing costs)
  • Understand employee situations (costs + contracts of existing employees)
  • Reveal legal risks (expose all possible situations)
  • All internal documents (bylaws, shareholder agreements, land and leases, contracts)