There are many things to consider when buying or selling a company. More often than not, the focus is on the financial side of the deal, but what about the uncertainty that can arise as a result of the dreaded rumor mill? In an industry where rumors can run rampant, focusing on the brand, people, and cultures involved in a transaction is paramount.
The key is learning to look beyond the terms of the deal. People are involved on both sides of every deal and communication is the holy grail. Your communication strategy, or lack thereof, can negatively impact a deal pre-, during, and post-transaction. This session will offer lessons on how companies need to think beyond the terms of the deal and focus on the soft side of every transaction to manage rumors and enable success.
After completing this session, attendees will understand the importance of focusing on the following critical areas in a transaction to maximize the potential of success:
- People come first. Most employees will be concerned with pay, benefits, schedules, and location–items that personally impact their lives and that of their families. Anything that is seen as being jeopardized as a result of a transaction is cause for concern, no matter how small or seemingly immaterial. It’s all about staying true to the corporate culture.
- Communicate early and often, but strategically. While clear, concise, and open communication is imperative, timing is everything. Too much too soon, particularly around things that may not be set in stone, create opportunity for speculation and concern. Too little too late and the rumor mill will have written its own story.
- Reduce uncertainly and anxiety. Deal makers must pay attention to the Merger Syndrome – the presence of uncertainty and anxiety raising speculation around change. The more you can do to reduce uncertainty and relieve anxiety, the lower the risk that the soft side of a transaction negatively impacts the desired result.
About the Exit Solutions Alliance Webinar Series:
Exit planning fails when advisors think from a siloed perspective. But on the other hand, one single advisor cannot specialize in every component that goes into creating rapid value growth and effective exit strategy. Jack of all trades, master of none, right? That’s where the Exit Solutions Partner Network can help. Join each month for the Exit Solutions Alliance Webinar Series to learn the interworkings, techniques, and strategies from advanced specialists, experts, and providers within the exit planning ecosystem.
This year, the Exit Solutions series will feature sought-after M&A Marketing Strategist, Christine Hollinden of Hollinden Marketers + Strategists, Serial Entrepreneur & Award-Winning Author, John Warrillow of The ValueBuilder System, and M&A Expert, Dan R. Bradbary of PMI Advisors, LLC among many others. Don’t miss your chance to pick the brain of the experts every month (typically hosted on the second Wednesday).
Click here to meet the experts and firms endorsed in the EPI Exit Solutions Partner Network.