Preparing Your Business For Acquisition: The Leadership MindsetMakarand Vaidya
I was contacted by many, after seeing my recent post about acquisition of CoreView Systems by SumaSoft. Immediately after the first common message “Congratulations…”; the curiosity kicked in. “What was the most challenging part of the deal, Makarand?”
I believe many were expecting to hear the valuation, or the selection process itself as an answer. Personally I found that the emotional preparation for the separation was most challenging.
Oh yes, the decision was taken after a lot of thoughts and deliberations and after getting advice from the right people. We were all convinced that this is the right thing to do. However the real action started only after we were mentally prepared.
As such, this was not my first experience. In my professional journey, I was part of several such moves, although in different capacities. At this time the responsibility was much higher.
With due credit to all those who helped me to prepare for it, here are some guidelines I used to prepare myself emotionally for the same.
Last but not least, is to keep the deal as transparent to the other party as possible. This will ensure the success of business post acquisition adding to the credibility of the business you have built.
Please feel free to reach me if you have any questions.