SUCCESSFUL INTEGRATION REQUIRES ACTION.
You are in the process of selling your company or buying a company. What should you be thinking about in terms of the transition from one company to another? Are there some best practices you can be aware of that will help both sellers and buyers have a successful transformation? When is the best time to start thinking and working on these issues? In basic terms, just as with most large projects, it is helpful to have a plan.
YOU HAVE TO WORK AT IT.
- Nature breaks apart not puts together.
- Best to begin integration during the due diligence process.
- Integration is a delicate and complicated process.
- Integration is not an event, it’s a process.
- Integration management is a full-time job.
- People/organization issues must be addressed very early.
- Successful integration blends technical and cultural initiatives
INTEGRATION IS A TEAM SPORT
- Acknowledge that some change will happen. It DOES NOT help to say “This is a merger of equals” or “We will conduct business as usual”
- Your employees at all levels know that change will happen. Respect their intuition and intellect.
COMMUNICATION IS THE KEY TO SUCCESS
- There are predictable steps and lessons that can be anticipated.
- Your employees need to know how to rebuild their communications/social network within the company. Who are their peers, their bosses, their employees? How do they fit?
- Employees are concerned primarily about job security, pay and benefits and business processes.
- Working on integration during due diligence can speed blending and lead to better purchase decisions.
- Not managing the integration process leads to a predictable outcome which is FAILURE.
- The process needs a leader.
Are you a buyer or seller with questions about the integration process? If you’d like to discuss your situation, selling or buying a business or preparing your business for sale, please let us know. In the meantime, if you have questions or comments, I can be reached anytime via email: firstname.lastname@example.org or phone at: 224-688-8838.
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