“Shaun, it was just announced that my division is for sale at my company. Should I start looking for a job?” Arnold
Arnold, great question. My short answer is yes, however, my detailed response is a strategy to stay with your current company. My one qualifying questions is: Do you know why your company is selling your division? If you don’t, find out immediately.
Companies sell divisions for many reasons: not a core business, unlock shareholder value, money losing, etc. At the same time companies / venture firms buy divisions for many reasons: recurring revenue, products, locations, take out a competitor, replace a legacy product line, and many other reason including buying a sales force. First you must find out why they are selling, and then when a buyer is announced, find out why they are buying.
When you understand the reasons both selling and buying, you can put together a more formalized plan, including finding another job. In the meantime, I would do the following:
· Stay Focused: It is easy to lose your focus and get caught up in things (fears) that will not help you make your number
· Keep Selling: When your company and buyer, review numbers it is good to be at the top.
· Be Positive: The buyer will want sales people with a positive attitude about the acquisition.
During most acquisitions, a third of the people are asked to leave, a third of the people leave on their own, and a third of the people stay. I am surprised on how close these numbers are in the acquisitions I have been involved in from the buyer and seller perspective. If you do the three things above you can choose to stay or leave, versus being asked to leave.
Commentary, I believe in this economy we are going to see more M&A in the next 18 months. There has been a limited number of fire sales and I believe this has to change.
‘Good Selling and Good Staying’. Reader Feedback, please click the comments below to give ‘Arnold' additional recommendations and I want your feedback on my response. Shaun Priest aka CloserQ.
Arnold, great question. My short answer is yes, however, my detailed response is a strategy to stay with your current company. My one qualifying questions is: Do you know why your company is selling your division? If you don’t, find out immediately.
Companies sell divisions for many reasons: not a core business, unlock shareholder value, money losing, etc. At the same time companies / venture firms buy divisions for many reasons: recurring revenue, products, locations, take out a competitor, replace a legacy product line, and many other reason including buying a sales force. First you must find out why they are selling, and then when a buyer is announced, find out why they are buying.
When you understand the reasons both selling and buying, you can put together a more formalized plan, including finding another job. In the meantime, I would do the following:
· Stay Focused: It is easy to lose your focus and get caught up in things (fears) that will not help you make your number
· Keep Selling: When your company and buyer, review numbers it is good to be at the top.
· Be Positive: The buyer will want sales people with a positive attitude about the acquisition.
During most acquisitions, a third of the people are asked to leave, a third of the people leave on their own, and a third of the people stay. I am surprised on how close these numbers are in the acquisitions I have been involved in from the buyer and seller perspective. If you do the three things above you can choose to stay or leave, versus being asked to leave.
Commentary, I believe in this economy we are going to see more M&A in the next 18 months. There has been a limited number of fire sales and I believe this has to change.
‘Good Selling and Good Staying’. Reader Feedback, please click the comments below to give ‘Arnold' additional recommendations and I want your feedback on my response. Shaun Priest aka CloserQ.
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