When is enough planning, enough?
As strategic buyers, our clients are constantly seeking additional data on acquisition prospects. This is not a bad perspective, but it does become an issue when they don’t have the ideal data set for evaluation purposes established at the beginning of the process – to compare candidates to each other and to the criteria.
Another known fact – The more people who get involved in the deal, the more questions get asked. The more questions, the more frustration develops on the seller’s side. So if people on your team will be evaluating a Target, have them provide input on the attractiveness criteria at the BEGINNING of the process whenever possible. With privately-held, not-for-sale owners, you need to keep deal momentum. You need to keep the selling owner saying “YES” – not, “Why didn’t you ask me for that information the first time you submitted a list of inquires?”
To do that, you need to Plan for YES and Plan for M&A Success.