Strategic Acquisitions

7. Beefing Up Management

Acquisitions are often most useful when they bring in new blood - intentionally or not.

7.1 An acquisition can fill gaps in your management team's skills and experience.

• If selling is your strong point, an acquisition may be a good way of bringing in someone who is good at production and administration - or vice versa.
• If your business's guiding light focuses on the short term, you might be able to bring in a long-term planner.

7.2 Be prepared to spend time with prospective partners, if you are planning to utilise their management skills.

You need to ensure your methods and objectives fit together.

• People who seem like the perfect complementary talents can turn out to have a totally different agenda from yours.