Tag Archives: Departure

How Do You Forge an Effective Relationship with a Buyer? Five Points

Situation: A CEO’s Company was recently acquired. She is getting little, if any, guidance from the acquiring company in terms of leadership or management of her former company. What does the group recommend that she do? How do you forge an effective relationship with a buyer?
Advice from the CEOs:
• You’re Lucky: We all wish we had that problem. Many buyers interfere with the operations of the acquired company and make the transition very difficult. This leads to all sorts of problems including employee departures.
• Employee Feedback: Hold an employee meeting, gather their thoughts and concerns, forward those to senior management. This demonstrates a willingness to work with the buyer to forge the best relationship possible.
• Memo: Draft a memo with all of your thoughts, options, and recommendations, send it to the management of the acquiring company and you have satisfied your moral responsibility. No guilt.
• Consult: You may end up consulting to new management sent to you by the buyer to help them figure out how to evolve from practitioners/managers to full-time managers.
• Don’t Worry: The purchase was a good deal to you because you were able to negotiate a favorable deal for yourself and your managers. The future is more a concern for the purchaser than it is for you.

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Is Team vs. Individual Project Responsibility More Effective? Four Thoughts

Situation: In the past a company assigned R&D projects to individual employees who were responsible for shepherding the project through to completion, seeking input from others as necessary along the way. The CEO has instituted a new system built around teams of specialists. In this new system the team is responsible for the project, not just an individual. This leverages people to do more with fewer resources, seems to be increasing throughput rates, and may reduce the impact of the departure of a single individual. Is team vs. individual project responsibility more effective?

Advice from the CEOs:

  • This seems a positive move, particularly if the groups seem to be responding positively.
  • Factors that will help:
    • Assure that there are strong leaders within the individual teams; leaders who are sensitive to individual team member’s contributions and needs.
    • Try the following theme – there is no “I” in Team, but there is an “I” in Win. Individual contributions still play an important role and must continue to be recognized.
    • Be proactive and sensitive to difficulties arising within particular teams. Work actively to resolve these difficulties so that they do not harm the team.
  • Another CEO has successfully used teams in development projects. When it comes to bonus time, she assigns a lump total bonus pool to the team, and asks them to come up with the distribution scheme within the team, subject to management review. The review is to assure that nobody on the team takes advantage of the others.
  • Immerse yourself in the literature on team structure and dynamics, to understand both the benefits and pitfalls of team management. This will help the company move smoothly through the transition.

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How Do You Revamp Your Sales Team? Seven Solutions

Situation: A company is faced with the imminent departure or retirement of several key sales personnel. This presents the opportunity to rethink and rebuild the sales team. What is the best way to take advantage of this opportunity? How do you revamp your sales team?

Advice from the CEOs:

  • The timing is good. Take advantage of this opportunity!
    • You’ve identified the next generation of sales leadership. Now determine their role building the future.
    • This is an opportunity to reset your vision for the next 3-5 years.
  • The task of the new sales leaders is to learn the products, customers, and processes. One of the best ways to do this is in the role of sales engineer.
    • Be the listener first – become the solutions person.
    • Use existing company personnel as resources to develop closer relationships with key people within the company.
    • Have existing staff can introduce them to current customers and point them toward new opportunities. Focus on impeccable customer service.
  • What are the immediate priorities for the new sales leaders?
    • Do what must be done.
    • Observe experts on the job.
    • Listen and learn.
    • Ask lots of questions.
    • It’s scary, but don’t worry – just do it!
    • Let others assist.
    • They will make mistakes – it’s called learning.
  • Be sure to build an approach and team that can support both your existing core business and build new opportunities.
  • You need to replace the capabilities of those who will be retiring, and at the same time bring in new opportunities for future growth. This includes sales hunters who are good at finding new customers and helping them define their unique needs.
  • What fears or concerns do you see in the new leaders?
    • Fear and concerns regarding short and long-term roles.
    • Focus on the near term. The President is focused on the long term. Focus now on visiting customers, being introduced to them, and learning about them.
  • Are you fully focused on marketing of your services?
    • What is your Sandbox? What is your Value Proposition? What is your Brand Promise?
    • Define these and let the definitions guide your development of the sales leadership as well as the search for additional personnel.

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