Take your time and do it well. Don’t rush into a deal. Be patient. Be thoughtful. If it really is a great opportunity, move with caution. Time is on your side.
Remember that tackling an acquisition is not a minor or casual event. Ask yourself if you have the time to engage in a highly intensive and time-consuming process without harming your current business activities. You have only so much time in your day. Perhaps you have employees that you trust and can manage the task. The take away on managing the process: Remember that at the end of the day, any transaction will require your knowledge and approval. Transactions fail when the owner or his or her acquisition team are ignorant, inexperienced, sloppy and harm their own business in the process of the hunt.
I often find after the transaction is completed that management forgets to properly and carefully integrate the new team into its operations. If poorly done, the rate of failure accelerates. If well done, it only takes a few months for the combined companies to achieve their ultimate objective.
As always, you can contact me at @AskAlanEHall or via my personal website, www.AlanEHall.com.
Alan E. Hall is a co-founding managing director of Mercato Partners, a regionally focused growth capital investment firm. He founded Grow Utah Ventures, is the founder of MarketStar Corp. and is chairman of the Utah Technology Council.
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