dd-meeting-prep

Anthropic ｜ 金融與投資 ｜ 原文 ｜ Apache-2.0

準備盡調會議，產生問題清單、benchmark 和要深挖的紅旗

---
name: dd-meeting-prep
description: 準備盡職調查會議，包括管理層簡報、專家網絡訪談、客戶查證和顧問會議。產生有針對性的問題清單、可引用的 benchmark，以及要深挖的紅旗。在任何盡調會議或電話前使用。觸發詞包括「prep for management meeting」、「diligence call prep」、「expert call questions」、「customer reference questions」、「meeting prep for [company]」。
---

# 盡調會議準備

## 工作流程

### 步驟 1：會議背景

向使用者詢問：
- **會議類型**：管理層簡報、專家訪談、客戶查證、顧問 check-in、實地參訪
- **與會者**：目標公司或第三方有誰
- **主題焦點**：完整的業務概覽，或特定工作流（財務、商業、營運、技術）
- **你已經知道的**：先前的會議、CIM、data room 的發現
- **關鍵疑慮**：要深挖的具體問題

### 步驟 2：產生問題清單

依優先級和主題整理問題。結構依會議類型而定：

#### 管理層簡報
**業務概覽（暖場）**
- 請帶我們走一遍創立故事和關鍵里程碑
- 對不熟這個領域的人，你會怎麼介紹這門生意？
- 你最自豪的是什麼？有什麼會想重來？

**營收與成長**
- 請帶我們看營收依客戶／區隔／地區的分布
- 成長的驅動力是什麼？價格 vs. 數量 vs. 新客戶
- 銷售週期長什麼樣子？勝率的趨勢如何？
- 未來 3 到 5 年，你看到最大的成長機會在哪？

**競爭定位**
- 你們的案子輸給誰？為什麼？
- 你們的護城河是什麼？有多穩固？
- 客戶怎麼拿你們跟替代方案比較？

**營運與團隊**
- 請帶我們看組織圖，關鍵人物是誰？
- 你們在招哪些職位？哪個最難補？
- 營運上什麼事讓你睡不著？

**財務深入探討**
- 請帶我們看毛利率 bridge，什麼變了？為什麼？
- 有沒有我們該了解的一次性或非經常性項目？
- 你怎麼看 capex，維持性 vs. 成長性？
- 營運資金有季節性嗎？

**前瞻**
- 請帶我們看明年的預算／計畫
- 哪些假設你最有信心？哪些最沒把握？
- 要發生什麼事才會大幅超越／低於計畫？

#### 專家網絡訪談
- 你怎麼看 [company] 在市場上的定位？
- 驅動這個領域的長期趨勢有哪些？
- 最強的競爭者是誰？為什麼？
- 投資人應該注意哪些風險？
- 如果你要買下這門生意，你會最仔細盡調哪些地方？

#### 客戶查證訪談
- 你是怎麼找到 [company] 的？為什麼選他們？
- 你評估過哪些替代方案？
- 他們哪裡做得好？哪裡可以改進？
- 你續約／擴大合作的可能性有多高？什麼會改變這件事？
- 如果他們漲價 10 到 20%，你會怎麼反應？

### 步驟 3：Benchmark 與背景資訊

針對每個關鍵主題，提供相關的 benchmark：
- 產業成長率和利潤結構
- 可比公司指標（如果這個 session 裡有 comps 分析）
- CIM 或 data room 裡值得追問的資料點
- 不同資料來源之間需要釐清的差異

### 步驟 4：要深挖的紅旗

根據已知資訊，標出要深入追問的具體領域：
- CIM 或財報中的不一致
- 客戶集中度或流失訊號
- 管理團隊的缺口或近期離職
- 不尋常的會計處理
- data room 中缺少的項目

### 步驟 5：輸出

一頁式會議準備文件：
1. **會議後勤**：誰、何時、何地、多長
2. **目標**：這場會議你最需要弄清楚的 3 件事
3. **問題清單**：依優先級排序、依主題分組（必問的標星號）
4. **Benchmark**：要引用的關鍵數字
5. **紅旗**：要深挖的具體項目
6. **後續事項**：會後要索取什麼

## 重要注意事項

- 先問開放式問題，讓管理層多講，再針對細節追問
- 不要引導證人，問中立的問題，不要問「難道不是…嗎」
- 除了答案，也要記錄肢體語言和信心程度
- 最後一定要問：「有什麼我們該問卻沒問到的？」
- 問題清單控制在 15 到 20 題以內，60 到 90 分鐘的場次講不完更多

---
name: dd-meeting-prep
description: Prepare for due diligence meetings — management presentations, expert network calls, customer references, and advisor sessions. Generates targeted question lists, benchmarks to reference, and red flags to probe. Use before any diligence meeting or call. Triggers on "prep for management meeting", "diligence call prep", "expert call questions", "customer reference questions", or "meeting prep for [company]".
---

# Diligence Meeting Prep

## Workflow

### Step 1: Meeting Context

Ask the user for:
- **Meeting type**: Management presentation, expert call, customer reference, advisor check-in, site visit
- **Attendees**: Who from the target company or third party
- **Topic focus**: Full business overview, or specific workstream (financial, commercial, operational, tech)
- **What you already know**: Prior meetings, CIM, data room findings
- **Key concerns**: Specific issues to probe

### Step 2: Generate Question List

Organize questions by priority and topic. Structure depends on meeting type:

#### Management Presentation
**Business Overview (warm-up)**
- Walk us through the founding story and key milestones
- How do you describe the business to someone unfamiliar with the space?
- What are you most proud of? What would you do differently?

**Revenue & Growth**
- Walk us through revenue by customer/segment/geography
- What's driving growth? Price vs. volume vs. new customers
- What does the sales cycle look like? How has win rate trended?
- Where do you see the biggest growth opportunities in the next 3-5 years?

**Competitive Positioning**
- Who do you lose deals to and why?
- What's your moat? How defensible is it?
- How do customers evaluate you vs. alternatives?

**Operations & Team**
- Walk us through the org chart — who are the key people?
- What roles are you hiring for? What's been hardest to fill?
- What keeps you up at night operationally?

**Financial Deep-Dive**
- Walk us through the margin bridge — what's changed and why?
- Any one-time or non-recurring items we should understand?
- How do you think about capex — maintenance vs. growth?
- Working capital seasonality?

**Forward Look**
- Walk us through the budget/plan for next year
- What assumptions are you most/least confident in?
- What would need to go right/wrong to significantly beat/miss plan?

#### Expert Network Call
- How do you view [company]'s positioning in the market?
- What are the secular trends driving this space?
- Who are the strongest competitors and why?
- What risks should an investor be aware of?
- If you were buying this business, what would you diligence most carefully?

#### Customer Reference Call
- How did you find [company] and why did you choose them?
- What alternatives did you evaluate?
- What do they do well? Where could they improve?
- How likely are you to renew/expand? What would change that?
- If they raised prices 10-20%, how would you react?

### Step 3: Benchmarks & Context

For each key topic, provide relevant benchmarks:
- Industry growth rates and margin profiles
- Comparable company metrics (if comps analysis exists in session)
- Data points from the CIM or data room that warrant follow-up
- Discrepancies between different data sources to clarify

### Step 4: Red Flags to Probe

Based on what's known, flag specific areas to dig into:
- Inconsistencies in the CIM or financials
- Customer concentration or churn signals
- Management team gaps or recent departures
- Unusual accounting treatments
- Missing data room items

### Step 5: Output

One-page meeting prep doc:
1. **Meeting logistics**: Who, when, where, duration
2. **Objectives**: Top 3 things you need to learn from this meeting
3. **Question list**: Prioritized, grouped by topic (star the must-asks)
4. **Benchmarks**: Key numbers to reference
5. **Red flags**: Specific items to probe
6. **Follow-up items**: What to request after the meeting

## Important Notes

- Lead with open-ended questions — let management talk, then follow up on specifics
- Don't lead the witness — ask neutral questions, not "isn't it true that..."
- Take notes on body language and confidence levels, not just answers
- Always end with: "What haven't we asked about that we should?"
- Keep the question list to 15-20 max — you won't get through more in a 60-90 min session