Kerri Salls, exit strategist and host of radio’s Exit This Way, interviews the Partnership Resource on why so many mergers fail and what successful partners do to keep their partnerships strong. In addition to revealing some startling statistics about the failure rate of mergers and discussing the qualities that are universal to good business partners, Lisette Smith and Tanya Rapacz suggest the following to do’s for business partners.
- Evaluate your own interests and motivations completely and honestly.
- Don’t use a merger to solve a short term problem.
- Work together first as a way of really doing your due diligence on what life will be like as partners.
- Use psychometric testing to gain awareness of your partners’ personality and to start a conversation about how you will work together.
- Communicate early, often and in-person.
Click here to download the full whitepaper and read more best practices for your partnership.
And to hear the downloadable interview, click here.
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