Tagged: #pandemic #covid
As many of us are not allowed to return to our offices, what are the solutions you are applying to keep your due diligence, integration processes, etc., running?
What are your experiences with a virtual data room?
After the acquisition, how to deal with the target’s team engagement and cultural integration?
As someone who has worked from home for over 12 years, I do not see being virtual as a hindrance to integration efforts. Technology is at a point where quality interactions are easy to come by. There is no reason why groups should have a problem contacting and communicating with each other. Some keys make virtual interaction much more positive. First, yes, video on conference calls does help during the early days of getting to know each other. Being able to associate a face with a voice helps to associate with communicating with an actual person rather than just a bodiless voice. Second, be sure to connect with people outside of meetings. Find something you have in common with someone on the other side of the phone and connect with them on that outside of meetings. Get to know the real person, not just the business person. And third, be flexible with meeting times. One of the best ways to show you are willing to work with someone from another time zone is to meet during a time that is not convenient for you. Don’t always expect the target company people to meet outside of their normal hours. With just a few simply practices like this, virtual integration can be just as effective as in-person.
Hi Steve, thanks for your thoughts. I also work from home, and I agree with you that the technology evolved to the point 10x better than two years ago.
Even though I believe the impact is higher on cultures where the physical presence and human touch are super essential, examples are Brazil, Italy, and Japan.
And by the way, I liked your approach to find a common interest beyond business.
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