I am one that likes to plan, have clarity, and feel in control. Well, 2020 certainly has challenged me in these areas. Regardless, I still have a choice. One option is to feel like a victim, get angry, be annoyed, complain about the situation, and feel sorry for myself. Been there, done that! Not fun or productive.
The adrenaline rush you get when closing on an acquisition (or merger) is exhilarating.
Excitement builds as you make the formal announcement to the team and send the press release. The congratulations start pouring in and all the endorphins rush in. If only this were the punctuation at the end of the sentence. It’s more like a new chapter that is yet to be written.
Enjoy your post close rush, but know that success is in what follows, not the successful completion of the acquisition.
Often, business leaders are not prepared for this next phase in the transaction, which happens to be the most difficult. Integration, or as we prefer to say, unification, is the next and most important phase. Closing the deal is now a success that lives in the past and future success is properly unifying the teams and driving the intended benefits.
Topics: Strategic Planning, Succession Planning, acquisition, Takeaways, Retain, Key Employees, Business Consultant, Growth, workplace productivity, Success, Management, 2020, Workplace Culture, Merger
As a business leader we often hear the phrase, "you need to work on your business not in your business.”
For purposes of strategy development & execution, I'm defining doctrines as what you believe to be true about your markets, your organization and your opportunities. These fundamental beliefs serve as the foundation of your organization. And more than anything else, your doctrines will define your organization's destiny.
Two weeks ago I had the privilege of spending a full day investing in myself. I learned from leaders across the globe who have paved the way before me and were willing to share their stories and lessons on how I can lead myself more effectively, so that I may lead others. Learning new perspectives and valuable tips for self-evaluation and growth fueled my fire.
Topics: Insider, BUSINESS PLANNING STRATEGY, Strategic Planning, Accounting, cpa, dayton cpa, cincinnati cpa, Takeaways, culture, values, brixey and meyer, miranda hawk, ohio, Leader, Leadership Advisory, Marketing, Business Advisory, Leadercast
Deciding on your Strategic Approach -- pursuit of opportunistic or prescriptive strategies -- is an essential element of strategic planning.
A professional golfer and his caddie study a golf course prior to the start of a tournament. They collect important information in order to make better decisions and to prepare strategies for how they will play the course. In a similar way, a professional executive will proactively prepare for strategy formulation before making important strategy decisions.
Edited on Feb 19, 2020
How do I generate ownership mentality while not giving up equity in my company?