I was talking recently with a client and we were discussing due diligence. In this case, the client had to sue a customer to recover money owed to the client. Of course, future preventative measures came up, which led us to the subject of due diligence.

Merriam-Webster has two definitions for due diligence, ":  the care that a reasonable person exercises to avoid harm to other persons or their property, :  research and analysis of a company or organization done in preparation for a business transaction (as a corporate merger or purchase of securities)"

In the many years I have been working as a private investigator, and even during my years as a police officer, usually loss or harm could have been avoided through proper due diligence. Most people are familiar with the term but don't know what it actually means.

For example, in the case of hiring employees or having contractors work on your home, you would want to do your due diligence to check their background and ensure that you, or the contracting company, has vetted these folks properly.

In the case of dating and marriage relationships, you want to ensure that you know who the person really is, what their past history is, and what their financial or criminal record may be. 

As a business owner, sure it is nice to gain a new customer, but if they don't have the money to pay you, or have a history of not honoring contracts (or authority for that matter) it can spell potential trouble down the road.

You as an individual, or as a business owner, or business employee, should weigh the potential future gain against any potential losses and determine whether the risk is worth the anticipated reward.

We have various methods to assist with due diligence. If you are having issues with a person, or are a company owner having issues mitigating risk, we are happy to consult with you to develop a proactive plan. Please give us a call to schedule a free consultation: 480-588-0511