Eight ideas of managing mergers by jimmy stepanian

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Information about Eight ideas of managing mergers by jimmy stepanian

Published on January 5, 2017

Author: jimmystepanian1

Source: slideshare.net

1. 6 Important Ideas Of Managing Mergers | Property Management | Jimmy Stepanian There is no doubt about mergers, every business merger is not a same, It also be different and every one has its own set of great challenges. Many year on, these are my best and experienced tips from inside a merger and how to manage all these process as an art, also than a science. 1. Analysis your motives for merging your business Be truthful with yourself about it being the great time to look at a merger. Many company founders, especially if they have rear a business from the start, may see the ability for the business but may overlook how their role in the new company will change. Be clear with yourself about why you want to merge and what you need to get out of the union. It is important to understand the sensitivity of converting what you originally created into a all new entity. 2. Learn how to let go of the ‘old’ company This can be especially difficult for small businesses or company . You will no longer be the only owner, so giving up full automony over decision making can be a wrest, especially if you have captained your ship for a long time. Do the following:  Create your new role. as well as the executive team’s early so everyone is clear what needs to be done. It will mitigate any teething problems.  Clearly delineate responsibilities and the new command structure. Develop an internal or insider working team made up of representatives from finance, sales and marketing, and operations to facilitate the integration of the two or more entities. There must be cohesive thinking and constant communication among all team members to confirm that ‘business as usual’ is upheld as much as possible.  Consider responses. It is more necessary to bear in mind that decisions will likely now take more time as there will be a committee involved for important moves – so you need to have your valid reasons to hand to be able to explain why you consider a course of action to be right/wrong. 3. Set realistic expectations Successful integration needs to be at the center of the merger. Many useful deals are set up to fail where individuals are motivated by the completion date and hefty bonuses rather than careful integration of two businesses from the ground up.While the organisational logistics are being ironed out, it is easy to fall into the pitfalls of managing that process, rather than looking at the business at the same time. 4. Prepare your employees for change Do not forget that long standing staff or team members will have followed your organisation on its journey and helped to grow the business into what it is. Their loyalty cannot be

2. underestimated, and has to be respected. Continue to share this journey with them. Be mindful that many mergers fail due to the inability of the two organisations to integrate at a cultural level. 5. Set common goals Everyone has to be on the same page and share similar business objectives. When everyone knows what needs to be accomplished, it is much easier to achieve these successes fully. Milestones and success metrics then help to manage some of the emotion often associated with transactions. Communicate that the ultimate achievement comes only when the integration itself is complete. 6. Focus on best in class Because a business has the capital and the interest, does not mean your business is perfect. A company can always learn from new approaches and ideas and ways of working from the new partner. You and your staff can learn from the ‘best in class’ processes and systems of the other party, and vice versa. In a merger, two cultures must learn from each other. Visit the another popular post Of Jimmy Stepanian Jim Stepanian | Read 10 Commercial real estate Tips | Product development techniques By Jimmy Stepanian – SlideShare Factors affect real estate prices by jimmy stepanian – SlideShare Summerlin Asset Management LLC of Jim Stepanian Jimmy Jimmy Stepanian| Consulting Services to Businesses | Data Integrated Jimmy Stepanian – Jimmy Stepanian 7 Useful Tips For Your Business Jim Stepanian, President at Summerlin asset management, llc

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