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Jennifer Fondrevay

Kiley Peters

Welcome to Eloma

Welcome To Eloma Episode 54 – Changing The Narrative on Mergers and Acquisitions with Jennifer Fondrevay

“The payday is a lovely part. But don’t let that drive how you look for your partner, particularly if you want to leave a legacy worthwhile,” explains Jennifer Fondrevay, founder and Chief Humanity Officer of Day1 Ready™, a consultancy that advises business owners, leaders, and executives on how to prepare for mergers and acquisitions. Jennifer has survived three major multibillion-dollar acquisitions and is the author of Now What? A Survivor’s Guide for Thriving through Mergers and Acquisitions. Today, she shares her tips for changing the narrative on mergers and acquisitions.

Mergers and acquisitions have a bad reputation, in part because statistics show that 70-90% of deals fail. However, it is important to still see a merger or acquisition as a viable growth strategy. This type of deal is not just about finances but is really more similar to a marriage in that you really need to be very intentional about who you choose as a partner. It also helps to remember that when considering the valuation of your business, your people contribute value as well. From the very start, you should consider your communication strategy for how you will get your people on board and even excited for the coming changes, otherwise, you risk losing talent due to miscommunication.

People are typically wary of change and aversive of uncertainty. This is why even just the words ‘mergers and acquisitions’ often cause people to stress and worry about the future. When you are upfront and clear about your vision for the business and communicate the plan with your employees, they are more likely to rally around you and buy into your vision.

Highlights:

  • “Consider a merger or an acquisition as a viable growth strategy play.” (2:26-2:31 | Jennifer)
  • “The payday is a lovely part. But don’t let that drive how you look for your partner, particularly if you want to leave a legacy worthwhile.” (5:05-5:15 | Jennifer)
  • “If you’re thinking just financials and you haven’t thought about, ‘how am I going to explain this in a way that gets people really rallied around it and excited, you’re going to lose some talent.” (7:31-7:41 | Jennifer)
  • “People ultimately embrace change and they understand that things have changed, but what they don’t like is prolonged uncertainty.” (8:22-8:29 | Jennifer)
  • “Start thinking about what that communications piece is when you’re thinking about the deal. Don’t wait until you’ve made the announcement.” (29:23-29:28 | Jennifer)
  • “Being crystal clear on your value is what helps you to embrace uncertainty.” (38:19-38:24 | Jennifer)


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Connect with Jennifer
LinkedIn: http://linkedin.com/in/jennifer-fondrevay
Website: www.Jenniferjfondrevay.com

Kiley Small Business Strategist

Kiley Peters is a serial entrepreneur and small business strategist. She built and exited an international award winning agency to launch her executive consultancy helping women live the lives they want through entrepreneurship. She is on a mission to help 1 million women build more financially free and fulfilling lives through her founding of RAYNE IX–an executive consultancy helping women fast-track the launch and growth of their consulting practice so they can have greater flexibility, autonomy, and ownership of their lives –and The 100 Collective, a membership and directory for women service-based small business owners who are committed to helping other women succeed. She’s also the host of Welcome to Eloma, a podcast for visionaries, entrepreneurs, and business owners who want to become better leaders, people, and pioneers.

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