There is an old saying, “The devil is in the details”, and there is no truer statement for mergers and acquisitions. While negotiating the best price and having a solid vision is critical to your business’ future, most mergers and or acquisitions suffer unexpected losses because they did not work fast enough, mitigate risks or implement an integration plan.
A successful integration starts with a strong vision and solid financials, but the hardest work stands on the pillars of culture, communications and shared goals. Each of these pillars must align with the new business’ long-term vision and goals. There will be uncomfortable consequences that breed employee fear, such as restructuring, lay-offs and system conversions. In the end, it is your job as the leader to set the right expectations, keep everyone motivated and focused on the opportunities that lie ahead.
These situations are never easy and require exceptional leadership to keep everything and everyone on course. You need to work faster than you could imagine while implementing best-practices and processes that will ease stress and improve productivity. If you are planning on an acquisition or merger, consider an Esteemed coach. We have tremendous experience with these situations and can mentor you through to the process.