The elements of a successful merger

Mergers are not all uncommon in the business world. Sometimes, for the best of the company, owners engineer a way to merge with a similar firms headed in the same direction. However, truly successful mergers are not as common.

On that note, Tyler T. Tysdal shares with readers some of the most important elements of a successful merger.

A sound plan: Truth be told, this is an element that applies to almost every facet of a business. Without a sound plan, a business won’t survive infancy, much less a merger or acquisition. Business owners planning a merger should prepare every bit of information needed even before they meet with their counterparts.

Clear goals: One of the most common causes of the biggest failed mergers is the absence of clear goals. The tricky thing about having goals is that not everyone may interpret said goals the same way if they aren’t stated clearly. Business owners should be clear, especially when drawing up the paperwork, explaining them to shareholders, and their counterparts.

Effective communication: In line with the previous item, Tyler T. Tysdal emphasizes the need for effective communication. This should not only take place during merger meetings with other company heads or when writing up contracts and plans, it should also be part of training and workshops done to tackle important aspects of the new company such as culture and goals.

Tyler T. Tysdal graduated with a BSBA in Finance from Georgetown University and obtained his MBA from Harvard Business School. His finance career began in investment banking and today, he is the Managing Partner of single-family office Platte Management. More on Mr. Tysdal and his work here.