If one of your strategies to grow your company is by acquiring similar companies in your field, perhaps even a competitor, consider this.
One of the primary reasons mergers fail is the disconnect in culture between the two companies.
I am always inquiring of my CEO members what the core values are that they have established for their company. Ideally a company should have three to five values that are core to how they operate, especially with regards to how they interact with their customers and with each other. And, as I have mentioned in previous blogs, these values should be ingrained in your employees minds. And posted around the workplace. And commented on frequently by you, the leader, in recognizing employees who demonstrate them. And used to qualify recruits for your company. And promotions within your company. And determining when to fire someone.
So as you are doing your due diligence on your target company I want you to spend as much time as possible with the CEO of the other company understanding how he or she manages. Your leadership team should spend time with their leadership team as well to learn how they are being managed, how they are held accountable and having them share what they feel are their company’s core values.
If there is a huge disconnect you might want to reconsider the acquisition or at least have a strategy for incorporating these new employees into your company.