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Preparation Is the Name of the Game

Thinking of hanging it up? Is your company a candidate for a purchase offer or takeover? Some pre-game warm-up strategies can help establish a home-field advantage on what is often bumpy terrain.

By Sharon K. Moorhead | Updated on March 31, 2007

Thinking of hanging it up? Is your company a candidate for a purchase offer or takeover? Some pre-game warm-up strategies can help establish a home-field advantage on what is often bumpy terrain. Your goal: to posture your business for sale and position yourself as attractively as possible so that you stand out from everyone else. This requires owners to be conscientious as they move through the often pressure-filled, obstacle-strewn minefield of companies coming together.

Simply put, the key phrase is, be prepared. This is true especially if you care about the outcome for your loyal staff. Many “mom-and-pop” shops are bought up by larger companies, which can trigger culture shock and raise questions of what business practices to follow and why. That is why it is important that both parties negotiate in good faith and spell out the expectations and requirements that they need to ensure a smooth transition, whether the two agencies are merging or one agency is assuming total control over the other. Many experts say that sometimes mergers can benefit a seller’s staff, but a seller cannot assume that this will be the case. More often than not, the buyer is poised to bring in their own management team to protect and guide the buyer’s investment.

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