This post is about one of my 45-second pitches at my BNI Chapter, BNI City Business. You can read the introduction to this collection here.

11 November, 2022. I opted not to repeat the beaver joke, and went for something a bit darker this week. The theme was not repeating your mistakes, and this meme was a great fit.

In any part of the business acquisition process – especially formal due diligence – make sure you create a feedback loop so you can reflect on and address any mistakes. Here, mistakes tend to be a lack of mutual understanding between you and the vendor, as discussed the previous week. Once you identify an area of ambiguity, review your notes to see what consequence that has on your understanding of the business. Then ask additional questions to ensure you have a good understanding.