You Bought The Competition. Now What?
Your company is growing. You’re expanding the business through acquisitions—congratulations are in order. But they must be followed by a healthy dose of reality. Research shows that integrating your acquisition into your existing company is anything but intuitive. In fact, up to 90% of acquisitions fail to meet their target objectives.
And it’s easy to understand why. The challenges are many—merging technology systems, operations, financial teams, customer relations, partnerships, cultures, goals, and mindsets. Where do you start?
All of the above are critical areas. But in our 20 years of experience guiding clients through important transitions in their businesses, we have found that the first focus after acquisition should be on your sales team. Creating early alignment across your sales team means adopting a growth mindset, establishing shared goals, territory realignment, integrating best practices, and prioritizing the right accounts to propel your business forward.
But knowing this is only half the battle. Even the most successful companies struggle with internal change. For this reason, many turn to outside help. When looking for the right partner, it’s important to find one who has experience with acquisitions and change management, as well as growth mindset alignment. A skilled third party can make all the difference between the 90% of acquisitions that struggle and the 10% that achieve significant returns. Our own clients typically reduce their integration time by 50%, which is why their success rates are so high. After all, an acquisition is such an important, costly investment, and those initial integration decisions are critical. Ensure your investment is well-positioned to reap the rewards you’ve worked so hard to achieve.