The vast majority of mergers and acquisitions don’t work out well. Jon Ouellette, a lifelong entrepreneur and our guest on today’s show; has insights as to why this is the case. He also explains what CEOs need to be aware of in combining companies through M&A. He should know as he combined 35 companies into one before being successfully sold to an international buyer.
It all comes down to people. Human performance is what creates value; and if the people who work for you aren’t aligned with your vision for the company, there is a high chance that your company is going to fail. Jon explains the essential elements which can transform a company culture, and how this translates into measurable results. Often, as in this case, the simplest strategies are the most effective; every company Jon and his team have worked with has seen massive improvements through working with them. The first step: Just listen!
KEY POINTS FROM THIS EPISODE:
Hear about Jon’s diverse professional career.
Jon shares the story about the job that led him to Calgary.
Lessons Jon learned from acquiring companies.
Advice about getting insurance, from someone who has worked behind the corporate veil.
Why the majority of mergers and acquisitions don’t work out well.
How Jon transformed a company in the space of two years.
A definition of culture, and how a company can assess if they are getting it right.
The immense value in the seemingly simple act of listening.
Law One from The Three Laws of Performance.
Examples of companies that focus on what is important to their people.
Why Jon always aims for a win-win situation when it comes to buying and selling companies.
Always be prepared to walk away from a deal.
Elements that are essential to look at before buying a company.
Advice for leaders who want to create a healthy company culture.
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