A big area where companies get tripped up is figuring things out as they go vs. putting a detailed plan together that can be well communicated to investors, employees, and customers.
Almost every issue can be well thought out and discussed internally before decisions are made.
When no plan is made, it’s obvious. Decisions and deliberations take longer. When a quick decision is needed and there is no plan to act as a compass, it makes leaders look unprepared.
Buying companies is not easy and surely isn’t a joke when employees, investors, and customers are at stake. Take the time to build a plan that can be communicated to everybody.