What do we do?
We use our extensive experience in product building, deep knowledge of product lifecycle and technologies to perform comprehensive due diligence of your project. This provides you with all the insights and risk factors assessment You need to make a correct business decision. We can also provide focused analysis in one or more of key areas depending on your project current status and needs.
This part of the process covers technology-related areas of the project. We start by looking into the codebase and selected technologies. We also interview the developers and other members of the tech team in the company to understand their standpoint, vision of the system architecture, technological stack and plan for product development in future. This allows us to build an overview of the technological landscape, identify potential risks, including project technical debt and suggest actions to mitigate them.
Here we focus on the product. We review product concept definition, its customer value proposition and all the critical product features required to deliver it. We look into the product business model, pricing and how the product does fit into the market. We study current progress and product roadmap. This could also include UI and UX evaluation if needed. Based on the analysis we provide a list of possible risk factors and key areas that could require action and list of possible solutions to resolve those issues.
In this part, we take a deep look at your organisation and its day to day operations. We analyse your team structure against the current stage of the project development and goals. We conduct interviews with all team members to identify key areas that could require changes, review team workflows, organisation processes and tools. Conclusion of this inquiry provides not only insights regarding possible risks, but also how the organisation or some of its parts could be improved or optimised for better performance.
Investment audit is a comprehensive process that combines all key due diligence areas - technological, product and operational - into one. This is the most detailed look at the company. We start from the fundamentals like product vision, technology choices and technical architecture, going trough execution of those and following up with the detailed analysis of the roadmap, organisation structure and performance and company goals. This provides detailed insight into all key aspects that can make or break a successful venture.
Our Framework
Our framework combines year knowledge accumulated by our team members. We have been involved in founding, having leadership position or being rank and file employee for startups and also being leaders in corporate world. This gave us unique perspective and standpoint we can utilise to perform deep analysis of startups at different stages of their lifecycle. This analysis is based on four pillars described below.
The initial step of any due diligence we do is to establish a reference point for all further findings. This is done through review and analysis of existing project deliverables and documentation. Depending on the scope of our assignment and the project this could be the review of code repositories and commits, diagrams, product roadmap or any other item being part of delivered work. The goal is to build as much background knowledge and insight as possible before we focus on the actual objectives of due diligence.
In this step, we verify the overall vision for the product. One of the critical success factors is that everyone involved in the project has the same understanding of its vision, goals and that there is an alignment with existing deliverables. Without this, there is a risk that what is being created is not something that is expected by the key stakeholders. Some critical issues can be overseen when product vision is not being fully understood by the team members responsible for shaping the vision into the existing product.
It goes without saying that having the right team is a cornerstone to project success. That's why we made getting to know people working on the project a separate step in our framework. There are multiple factors here that contribute to the venture success and should be considered- right skillsets and qualifications, proper workflows, understanding product vision and many more. By working together with a project team we try to gain insights about all of them to identify the ones that could determine success or failure.
The last pillar of our framework is focused on the financial aspects of the project. This is something that cannot be overlooked in any venture with budget constraints. With these limits and goal to achieve we investigate if every spending is justified and backed up by moving the project closer to successful delivery and cross-reference budget with all of the findings from other steps. If required this could also include a review of the business model, revenue projections and other monetary aspects of the venture.
Our Process
Due Diligence process steps are tailored to give deep insight into every key area of the project. Our goal is to identify all possible risks that can prevent successful market delivery of the product. Each of the risks is described with both severity of the risk and future impact explained in the audit report. The due diligence report can contribute significantly to planning short- and long-term strategies for risk mitigations and product development.
This is the initial step of the process. Here we present the process itself with all of its deliverables. We go through each step and explain what is the purpose, outcome and goal each stage. We also establish a timeline for the whole due diligence and set a series of briefing interviews with the key stakeholders.
Document review step is where we deep dive into available project documentation, diagrams, code repositories and every other type of project artefact available. This allows us to build background knowledge about the project that will be a reference point in the next steps, identify initial areas to review and prepare questions for team interviews.
At this stage, we take an even more detailed view in project artefacts - review the code, check test coverage, commits to the code repository. We also conduct a series of interviews and workshops with project team members. Finally, we review project financials and budget spending.
This is the step when we share with the customer our initial findings, list critical areas we should focus future inquiries and start forming the final report. This usually has a form of high-level summary followed by a call or meeting when we discuss the next steps.
After identifying critical risk factors that could impact project successful market delivery at this step we focus only on these key areas. With a series of follow up interviews and investigations, we collect information to provide a detailed description of each critical risk, impact on the project and list of possible, actionable solutions to minimise those exposures.
During this step, we prepare a detailed due diligence report that describes in detail all the findings, our conclusions and analysis and some suggestions for future actions.
Discussing the final report is the last step of the process. During the debriefing, we go through the content of the document with the customer and highlight the most significant findings and risk areas for the project. This is done with some additional context added on top of the report content and some suggestions on how to proceed from this point. This provides a full overview of the project situation for the customer along with possible ways to proceed from here on project delivery.
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Berlin, Germany
Warsaw, Poland
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