6 Tips You Cannot Miss If You're Going Into A Merger6 Tips You Cannot Miss If You're Going Into A Merger

In recent years, we got to see a lot of technology start-ups had the potential to shake the foundations of their industry.(Advanced Recovery Consultants) While some of them grew to become huge names on their own, like Tesla in the automobile sector, most others were acquired by the big fish in their industry because their potential was impossible to miss. Of course, for a big business, keeping the biggest slice of the cake is one of the most important objectives.

So, they like to take over smaller brands. As a start up, if you have a great idea behind your business, be ready to be approached by the big names in your industry soon.

To get ready for when that happens, we’re giving you a handful of tips that you simply must follow if you want to survive the merger with dignity and respect.

1. Know Your Role

A very important consideration during a merger will be your future role in the new company. If your brand was your brainchild, you probably want to be there to see it grow the way you’d imagined it. So, negotiate for a powerful role.

2. Future of Your Employees

An unavoidable (in most cases) part of a merger is a lot of people losing their jobs. That holds true mostly for the smaller firm in the pair. While you can’t always demand keeping all of your old people in the same jobs, you can negotiate keeping many of them.

Those that you have to let go, make sure they don’t leave angry with you. Talk to them and make it worth their while.

3. Define a Successful Merger

It’s extremely important that you go into a merger with a clear picture of what you might consider success once it’s done. Make a list of things you can’t compromise on and plan your negotiations accordingly. Be ready to give up on a few things but fight for those you cannot let go.

Know your values and you’ll know your decisions, they say.

4. Be Transparent

Make sure you go into your merger meetings with deliberate focus on transparency. Let your files and records be open and accessible. Don’t let them find any skeletons in the closet later. If you’ve done things you aren’t proud of, don’t sweep them under the rug.

5. Bring in a Consultant

Don’t walk into a merger without hiring an independent consultant to guard your interests and guide you through the process. Bringing in an expert can only help you negotiate for your objectives and success more effectively.

6. Communicate with Your Team

It’s imperative for your reputation as a leader that, in a time when your people are scared and nervous of the future, you keep them up to date with the proceedings and show them how you’re protecting their interests along with yours.

You can do this by keeping regular meetings during the whole process of the merger.

Let us know how you liked our list of merger tips in the comments section below. Feel free to ask any questions you might have and we’ll be delighted to answer them.

by Bryan Wible
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