465: Due Diligence in Investing and Business

Wealth Formula by Buck Joffrey

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6d ago 27:12

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Due diligence is certainly something you do when making a big investment or buying a business. But it’s actually something that should apply to all areas of life—whether you’re signing a contract at work, getting involved in a new relationship, or even deciding which dating app bio seems like it won’t end in a true-crime documentary.

In the business world, due diligence means doing your homework before diving into any deal. It’s checking the financials, understanding the risks, and making sure everything is legit before you sign on the dotted line. Just like you wouldn’t buy a car without checking under the hood (unless you enjoy random roadside adventures), you shouldn’t make decisions at work or in business without getting the full picture.

The same goes for your personal life. That new person you just met? It’s worth making sure their story adds up. And let’s be honest, these days, doing a bit of digital “due diligence” (a.k.a. light social media stalking) is part of dating etiquette.

That said, even the most thorough due diligence can sometimes fall short. Just look at Bernie Madoff. This guy had years of audited financials and still managed to scam investors out of billions. It wasn’t because people weren’t doing their due diligence, but because Madoff was a master manipulator who played the long con. He reminds us that no matter how careful you are, sometimes bad actors can slip through the cracks. All we can do is to know that we did our best.

In some cases, that might even involve hiring a third party to dive even deeper. In this week’s episode of Wealth Formula Podcast, we will talk to someone who does that for a living. She provides lots of pearls for you to apply in you everyday life.

05:00 Introduction to OSINT and Its Importance

08:05 Understanding Open Source Intelligence Gathering

11:09 The Role of OSINT in Business

13:54 Digital Vulnerability and Reputation Management

17:04 Red Flag Analysis for Investments

19:54 Cost-Effectiveness of Due Diligence

22:59 The Value of Background Investigations

26:01 Conclusion and Contact Information

The post 465: Due Diligence in Investing and Business appeared first on Wealth Formula.

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