Mergers: Tips for Doing It Right

Source: The Managing Partner Advisor

Based on his experience completing five mergers as managing partner, Gary Adamson offers these five tips:

1. Use average billing rate as a litmus test. It can tell you a lot about a practice.
2. Ask the seller up front for a written list of “sacred cows” – that is, processes and people it's unwilling to change.
3. Create a business case for the merger – including strategies, goals, and expectations – before you sign a letter of intent.
4. Trust your gut – don't pursue a deal if it doesn't “feel right.”
5. Include a “divorce agreement” that establishes an orderly process for undoing the merger if things don't work out.

For the complete post, read “Five Merger Tips to Help You Seal the Deal.”

From The Managing Partner Advisor, the blog of Gary Adamson, CEO of Adamson Advisory, http://adamsonadvisory.com/blog, November 11, 2011.