When considering a merger or acquisition so often what appears to be all that is important is determining if these businesses should be combined and completing all of the paperwork. This is very important. However, what is equally important is that after the combination has been completed is there a process in place to “truly merge” the business into one successful business. What I mean by this is do they start working together as “one business” and not two businesses under one name. This would include:
- “A” leadership group working together as a team
- One vision for the future
- The appropriate strategies
- The most important initiatives identified
- Benefiting from synergy potentials
- All employees pulling together and in the same direction
If a plan is not in place for accomplishing these then money is being left on the table and the new business might not be successful.
If you are in some way involved with combining two businesses what is your plan for accomplishing these things? If you are part of a business that has already been combined, ask yourself if you are actually operating as one business. Consider using a professional with proven experience for assistance with this very important activity.
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