Selling a company is a heady experience. The wise CEO knows, though, that many things can go wrong and that it pays to study what makes some transactions go well and others fall apart. Here are ten tips consolidated from personal experience on both sides of many deals that, while they may not guarantee success, if followed increase the odds of a good result:
Know what you seek in terms of price and role. Do not be wishy-washy and do not get greedy; once you have what you want, take it!
It is a project to sell a company… staff, organize, and govern it well. It takes a team of internal (CEO, CFO, CTO, etc.) and external (corporate lawyer(s), employment lawyer(s), banker(s), analyst(s), investor(s), etc.) players. Assign a leader of the inside team and a leader of the outside team to coordinate with each other. Consciously, purposefully, and thoughtfully deploy yourself and others from both inside and outside the organization to cover all the bases.
Every organization has, or needs, a leader. And it is true that the power of one committed, clever person can make all the difference in the world. But no one individual, even the greatest leader, does anything of much significance alone. The simple truth is that it takes a team to lead an organization. The action motivated by this truth is for the leader to decide what kind of leader to be and then to attract, collect, and align his/her top team and collect followers.
The best leaders figure out that it is not all about them. It is about their organizations and the decision to either manage or lead is a false dichotomy. The one in charge needs to manage in order to lead and, indeed, can and should Manage to Lead his/her organization to achieve the stated vision. The top person’s job starts with managing his/her own self to lead.Continue reading →
Leaders of fast growing, early stage organizations operate at such a fast pace that often the last thing there is time to do is assess each member of the top team’s performance to determine how to prepare them for the next stage of evolution.
Most team members know each other pretty well. They have a good idea what each other is good at, has contributed, how they have grown, and what they should focus on next for success. However, team members rarely have the time, energy, training, or nerve to share what they know in a forthright, supportive conversation with one another. Continue reading →
The 2014 World Wide Strategy Week is about to begin! On November 4th at 9 am Pacific time, PeterD will participate in a three-person panel on The Role of Leaders in Strategy Success. This short video introduces Peter and the Seven Truths to conferees. Check it out and let us know if you like it.
IntelliVen subscribers, followers, students, and clients are invited to register to attend the conference at $20 under the public price by entering this special code:
to get an All Access Pass to the five fascinating webinars that anchor World Strategy Week if purchased before 10/24.
Every leader stands to benefit from the opportunity to regularly review with outsiders what s/he seeks to do, what has been done to do it, what has happened and what has been learned so far, and what s/he plans to do next.
It is harder to set up, operate, and benefit from outside help than it may first appear. Click on the image accompanying this post for a slide presentation of lessons learned and best practices that, if followed, will lead to improved performance and growth thanks to help from Accountability Board Members and Subject Matter Experts.
Top-100, Hall-of-Fame Amazon Business Book Reviewer, Bob Morris, recently conducted a two-part interview with IntelliVen CEO, PeterD. Click the image at left to see Part 2. Click here to see Part 1.
Excerpts from Part 2 follow:
Morris: In your opinion, what are the most significant differences between great leadership and great management?
DiGiammarino: I agree with those that say you manage things and lead people but you also manage things in order to lead people so the two are not so much different when intertwined in great leaders. That ties in with the double meaning of the title of my book. Manage to Lead helps you to
Manage yourself to do things that every leader ought to do and when you do them you are de facto leading.
Squeak by in the role of leader even when you do not happen to be a born leader but you are a good manager!
Ric Franzi, on Critical Mass for Business radio, featured a 50-minute interview yesterday afternoon with Peter DiGiammarino to discuss IntelliVen and Manage to Lead: Seven Truths to Help You Change the World. Click the play button below to listen to the entire show.
An excerpt from their discussion follows:
Franzi: You have outlined a “Support Structure for Success” of the top executive. In it you suggest a CEO have an outside Executive Group and Belong to a CEO Peer Group outside their firm. Would you take us through your thinking and what you why you feel they are so important?
DiGiammarino: CEOs who participate in peer forums help each other become great CEOs and better people. Specifically:
It is a place where a CEO does not have to behave as if s/he knows all the answers and can, instead, be genuinely open to input and where it’s ok to be vulnerable, and even to be wrong, in front of each other; there is no need to put on airs or skirt around the hard stuff.
Top-100, Hall of Fame Amazon Business Book Reviewer, Bob Morris, recently conducted a two-part interview with IntelliVen CEO, PeterD. Click the image at left to see Part 1. Part 2 is slated for publication within a week.
Please post comments and questions for further discussion via reply to this post.
World Strategy Week is a worldwide, virtual event featuring the best experts and leaders in strategy, strategic planning, and strategic management to inspire, engage and innovate.
Leaders are on the hot seat in today’s shifting business and social environment. Leadership skills and practices that might have delivered results and strategic success in a more static environment are less likely to work now. Continue reading →