Someone asked me the other day what the genesis of the name “Codiligent” is for my business brokerage. This is a relatively common question so I’ll answer it here.
Partnership
The “Co” in Codiligent is suggestive of the fact that there is a trusted partnership between my company and its seller clients.
Persistence
The “Diligent” part of Codiligent has a dual significance. The first part of the significance comes from the dictionary definition of “Diligent:” 1. constant in effort to accomplish something; attentive and persistent in doing anything; and 2. done or pursued with persevering attention; painstaking. Selling a business is a very challenging process that requires constant, persistent, effort and attention. Past clients agree that Codiligent is extremely persistent in doing everything it can to increase the probability of a successful sale.
Preparation
The second part of the significance of “Diligent” is in its relation to “Due Diligence” which is a very important part of the business sale process. Due Diligence is the investigation or audit of a potential investment to confirm all material facts. Many business sale transactions die when they get to due diligence because the business broker or investment banker has done a poor job of presenting the material facts of the business consistent with the reality that a buyer will discover during Due Diligence. By doing a comprehensive analysis of the business and reviewing due diligence materials up front, and developing very high quality packages the Due Diligence process becomes a relatively easy process of verification, rather than a never-ending deal-killing process of discovery. In fact, it is rare for a Codiligent deal not to survive the due diligence process, and it is rare for a price to be re-negotiated as a result of due diligence.
Partnership, Persistence, and Preparation. These are Codiligent’s promises to clients.
