The deft handling of mergers and acquisitions is an art that many small business owners in the Denver area fail to master. Although they realize that merging with other businesses helps them achieve success, they tend to avoid this complex part of business growth.
To remain relevant to consumers and continue an upward growth trend, learning more about mergers, and acquisitions as well is vital. You can invest the time to increase your knowledge of these issues, but many choose to rely on legal professionals for assistance. A law firm with a history of handling successful mergers can help you on at least two fronts.
First, an attorney can teach you what you need to know about merging with another business. Second, he or she can offer you guidance on your journey through a successful merger. Negotiations are key when attempting a merger. The tactics used during this critical stage can make or break your potential deal.
We have found success in helping entrepreneurs complete a merger with tried and true negotiation principles. A few of these principles include:
- Choosing the right amount for your initial offer to set an appropriate benchmark for further negotiations.
- Not disclosing information that could hurt your side of the negotiations such as your budget or your highest price point.
- Keeping something in reserve to “give away” without compromising your position.
- Watching the other party closely for clues (body language, speech patterns, facial expressions, etc.) about how the negotiations are proceeding.
You can learn more about the art of mergers and acquisitions by reaching out to our legal team. Our website and business blog also contain additional information to help you achieve your goals as a Colorado entrepreneur.