Research No 1 - Why research / evaluate an Employer / a Supplier / a Business for Sale

This post is the first of a short series which looks at researching for particular purposes or circumstances. Thus,the circumstances for evaluation are: i) a job-seeker evaluating a prospective employer; b) a start-up business reviewing a supplier of goods and services; and c) possibly, a start-up business initiating due diligence of a business which is up for sale. All three are is likely to find that it takes time.

Taking time to research properly may well pay-off (in time and cost) for the job-seeker in terms of the likes of:

• aborted or fruitless CVs (and covering letters) or job applications;



• failure to get interviews;



• unpreparedness and hence inadequate interviews.

For the supplier-seeker inadequate research may mean critical losses (of time, costs and customers) due to the likes of one or more of:

• failures of supplies to arrive on time;



• poor quality products or services which need to be returned; and,



• poor after care and support.

The buyer of a business will need to ensure adequate research so as to avoid aborted costs, lost time, and possible problems such as:

• hidden problems, eg unpaid accounts,wages, and/or taxes;



• problems with the management, eg production of goods, delivery of services;



• personnel problem, eg staff leaving;



• outstanding liabilities or claims against the business;



• non-compliance with statutory requirements, eg taxation returns.

Some lines of enquiry and sources of information for each of these will be the same but the approaches are certainly very different.