As the song goes, “I still haven’t found what I’m looking for”. In an acquisition search process it often times is the lack of planning and preparation that stands in the way of success.
I found it critical to have a clear search criteria that was agreed and understood by all team members in the projects I lead in corporate mergers and acquisitions.
Sadly, many go into the process of searching without deeply thinking about what they want and get frustrated.
Some have a good idea of a specific industry that interests them but haven’t considered the fundamental elements of the type of business they’d like to own; product or service based, target audience/market, customer concentration, repeat customers, types of employees, remote or brick and mortar.
What are the higher-level characteristics of a business that I want to acquire?
How do you know you found the right business to acquire?
How does it align with your needs?
What’s the definition of GOOD?
A well-defined search criteria is your compass! It aligns your investment with your goals, saving time and resources while enhancing decision-making.
I have found that developing a criteria to lead a search process actually expands the search beyond singular industries and opens your mind to areas you ordinarily wouldn’t consider.
What key elements would you include in your search criteria to ensure a successful acquisition? Share your thoughts!
Drop a comment if you have thoughts or if you know the name of singer that made the song famous.
