With the rebounding economy, many Los Angeles and Southern California businesses are bringing in new customers.
But an important question needs to be asked: Is this going to be a good client? Vetting and validating prospects before they become clients is critical to preventing future problems.
Identified in this article…
…are five questions that should be answered positively in the vetting process, as well as four potential negative impacts when vetting isn’t done correctly.
Services of an outsourced CFO services professional with vetting expertise include objectively conducting due diligence, assessing the prospect company’s financial condition, and determining potential risks.
When combined, properly executed, and comprehensively reported on, these actions reduce the risk of future problems and contribute to a mutually beneficial working relationship in the years ahead.