15 Jul 10 Common M&A Mistakes to Avoid (#2 of 10)
An M&A deal is a complex, high stakes process that has many factors which can affect its success or failure. In this blog series I am describing ten common mistakes that we’ve seen. Every entrepreneur or executive who plans to sell a business or acquire another company should avoid these common mistakes to increase their chances for success.
2. Having too many consultants
Relying on a lot of consultants and advisors is usually counter-productive. Each person will have their own style, and different ideas and points of view. For most deals it’s better to have a small team of skilled professionals, one for each aspect of the deal such as an M&A advisor, lawyer, and tax accountant (plus other specialists depending upon the specifics of the deal). That will reduce the conflicts and speed up the decision making.
Take home message: too many cooks spoil the soup.