Intentions from Pat Swan

The other day I attended a business meeting and got into a discussion with a gentleman who deals exclusively with mergers and acquisitions. He works with a large accounting organization that services businesses. He helps connect buyers and sellers, organize and manage financial aspects, and coaches his clients as needed, to maximize success.

I asked him what he thought the most important thing was in determining success with mergers and acquisitions. He responded, "Having a good plan or strategy, and sticking to it." Then I asked him what he thought most often caused a merger or acquisition to fail. As might be expected, he answered, "Not following through with the plan."

Going deeper, I asked, "What do you think gets in the way of following through with the plan?" The answer to that was rather intriguing, coming from an accountant, or task type person, but certainly not surprising. In Peoplemap^TM terms, it boils down to buyer personality and Achilles heels. Buyers - who I would guess are in most cases Leader types - have poor interpersonal and communication skills and a lack of understanding of people as individuals. Owners who may have created stellar strategic plans, but did not understand the importance of corporate culture in the overall plan, or of letting people know what was happening, and what was expected of them. Leaders who did not value processes that might help employees merge more effectively, and who naively expected people in new and unfamiliar surroundings to trust new ownership and jump in at 100%+ productivity.

The best plans in the world will fail if employees don't know what the plans are and don't put in the effort necessary to fulfill them. As a friend of mine says, "Culture eats strategy for breakfast and munches on five-year plans all day long."

These new business owners probably made good financial and strategic plans. But apparently they did not realize the value of understanding people, or the need for good, clear communication, throughout the organization. They missed the connection between people and profits.

Unfortunately, this results in poor retention, high stress, low morale, less than desirable productivity, and in many cases, outright sabotage. This impacts the bottom line.

When millions of dollars are on the table, doesn't it make sense to do whatever it takes to ensure success? Would it not make more sense to consider the employees and their needs, in the overall plans? Effective employee training and coaching can make the difference between success and failure in business transitions.

Personal Intentions for the month of May

The personality trait or Achilles Heel that most interferes with my success is: ___________________________________________________

This trait impacts my work performance by: ______________________

This trait impacts my personal success by: _______________________

This trait particularly interferes with: _____________________________

When I overcome this Achilles heel I will be able to: _________________

This will improve my health and well being by: ____________________

This will improve my performance at work by: _____________________

The person most impacted by this change will be: _________________

The learned strength that will replace and help me overcome this Achilles heel is: _______________________________________________________

For the next seven days I will focus on developing this learned strength. Every day, I intend to practice one of the following:

1. ____________________________________________________________

2. ____________________________________________________________

3. ____________________________________________________________

4. ____________________________________________________________

5. ____________________________________________________________

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Personality and Successful Change Management

Personal Intentions for the month of May