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	Comments on: What’s a “data room” and how do you use it?	</title>
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	<description>Dave Berkus&#039; business insights</description>
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		<title>
		By: Dave Berkus		</title>
		<link>https://berkonomics.com/?p=4328&#038;cpage=1#comment-140718</link>

		<dc:creator><![CDATA[Dave Berkus]]></dc:creator>
		<pubDate>Thu, 03 Sep 2020 22:44:11 +0000</pubDate>
		<guid isPermaLink="false">https://berkonomics.com/?p=4328#comment-140718</guid>

					<description><![CDATA[In reply to &lt;a href=&quot;https://berkonomics.com/?p=4328&#038;cpage=1#comment-140716&quot;&gt;DP Seidenspinner&lt;/a&gt;.

DP,
Backing up the system is like brushing your teeth. Your dentist can tell if you aren&#039;t doing it every day.  Or when changes can&#039;t lost forever if not daily.  

But this insight is about adding the data that tells the story of your enterprise from inception through present in an isolated file folder that is located elsewhere (Dropbox, SugarSync, or even on your server (if you can grant access only to a single folder,) and transferring legal and financial data needed by others such as those listed in the article above.  

It means scanning to PDF, screen scraping, copying, and sometimes creating Excel, Word, and other files to memorialize these. (Take for example, your State and city business licenses, sometime just a few bytes on someone else&#039;s server...  And if you are doing this for yourself, not for a company, think of birth, marriage and other legal certificates including driver&#039;s licenses, copies of wills and trusts, list of assets, financial statements including balance sheets.  In those cases, you can grant access to only a few files inside the &quot;private&quot; folder to those in need (trust attorneys, banks, private lenders and more.)  OK?
-Dave]]></description>
			<content:encoded><![CDATA[<p>In reply to <a href="https://berkonomics.com/?p=4328&#038;cpage=1#comment-140716">DP Seidenspinner</a>.</p>
<p>DP,<br />
Backing up the system is like brushing your teeth. Your dentist can tell if you aren&#8217;t doing it every day.  Or when changes can&#8217;t lost forever if not daily.  </p>
<p>But this insight is about adding the data that tells the story of your enterprise from inception through present in an isolated file folder that is located elsewhere (Dropbox, SugarSync, or even on your server (if you can grant access only to a single folder,) and transferring legal and financial data needed by others such as those listed in the article above.  </p>
<p>It means scanning to PDF, screen scraping, copying, and sometimes creating Excel, Word, and other files to memorialize these. (Take for example, your State and city business licenses, sometime just a few bytes on someone else&#8217;s server&#8230;  And if you are doing this for yourself, not for a company, think of birth, marriage and other legal certificates including driver&#8217;s licenses, copies of wills and trusts, list of assets, financial statements including balance sheets.  In those cases, you can grant access to only a few files inside the &#8220;private&#8221; folder to those in need (trust attorneys, banks, private lenders and more.)  OK?<br />
-Dave</p>
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			</item>
		<item>
		<title>
		By: DP Seidenspinner		</title>
		<link>https://berkonomics.com/?p=4328&#038;cpage=1#comment-140716</link>

		<dc:creator><![CDATA[DP Seidenspinner]]></dc:creator>
		<pubDate>Thu, 03 Sep 2020 22:29:31 +0000</pubDate>
		<guid isPermaLink="false">https://berkonomics.com/?p=4328#comment-140716</guid>

					<description><![CDATA[Thanks for this reminder about keeping good data trails. I have a private server to backup my data with the option to allow private access. it&#039;s calling me to update my files now. THX!]]></description>
			<content:encoded><![CDATA[<p>Thanks for this reminder about keeping good data trails. I have a private server to backup my data with the option to allow private access. it&#8217;s calling me to update my files now. THX!</p>
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			</item>
		<item>
		<title>
		By: Mimi Grant		</title>
		<link>https://berkonomics.com/?p=4328&#038;cpage=1#comment-140705</link>

		<dc:creator><![CDATA[Mimi Grant]]></dc:creator>
		<pubDate>Thu, 03 Sep 2020 06:44:45 +0000</pubDate>
		<guid isPermaLink="false">https://berkonomics.com/?p=4328#comment-140705</guid>

					<description><![CDATA[Another great blog, Dave!  Given many of us had to pull together this type of information to get PPP loans (at least we did), it would have been genuinely helpful to have it all in one place.  Thanks to the hoops our bank made us go through, now we have a lot of information to start filling our Date Room! m]]></description>
			<content:encoded><![CDATA[<p>Another great blog, Dave!  Given many of us had to pull together this type of information to get PPP loans (at least we did), it would have been genuinely helpful to have it all in one place.  Thanks to the hoops our bank made us go through, now we have a lot of information to start filling our Date Room! m</p>
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		<item>
		<title>
		By: Jim Reimers		</title>
		<link>https://berkonomics.com/?p=4328&#038;cpage=1#comment-140700</link>

		<dc:creator><![CDATA[Jim Reimers]]></dc:creator>
		<pubDate>Wed, 02 Sep 2020 16:28:59 +0000</pubDate>
		<guid isPermaLink="false">https://berkonomics.com/?p=4328#comment-140700</guid>

					<description><![CDATA[This amplifies the importance of record filing systems.  Filing can seem boring. Bringing buyers,investors, attorneys, bankers into the picture--communicating with powerful people outside the company--brings new life into record keeping. The language of &quot;Deal Books&quot; and &quot;Data Rooms&quot; brings clarity, aliveness and even pride to well organized records. I impact on the financial value of the company is powerfully positive.]]></description>
			<content:encoded><![CDATA[<p>This amplifies the importance of record filing systems.  Filing can seem boring. Bringing buyers,investors, attorneys, bankers into the picture&#8211;communicating with powerful people outside the company&#8211;brings new life into record keeping. The language of &#8220;Deal Books&#8221; and &#8220;Data Rooms&#8221; brings clarity, aliveness and even pride to well organized records. I impact on the financial value of the company is powerfully positive.</p>
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