What is the #1 deal-killer in SMB? Working Cap...
And then the final piece, and possibly the most important, because this is what kills maybe more deals than anything we work on, is working capital. So how much working capital should that peg be set to when you're buying this business? If you're not including it in the deal, making sure that you're getting compensated for appropriately in the purchase price. If there's some seasonality, working capital will help you understand what line of credit you should be getting so that you have enough funds to operate the business post-close. So all like three of those buckets are things that we're really deep diving in in the quality variance report so that our clients understand the business.
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