Tuesday, 4 May 2010

the short marriage of "succesful merger"


Mergers are like marriages” ….
There is the courting stage, the relation, the actual marriage and the realities of daily sharing to make the marriage work. There is also the “coup de foudre” when first two stages are skipped ….
As in life, most mergers are abandoned before being consummated. Merging law firms can be quite challenging, thus when wisely promoted those merger can allow you to leverage your position, both internally and externally.
It may be assumed that the major goal of your merger efforts is to inform clients about the in-depth expertise and available results of the marriage. The harsh surprise to most of the firms is that before they can have any hope in informing clients, they will first need to invest the time necessary to inform themselves and their team. You have to know whom you are marring; otherwise, the bride will run away first change of freedom or much handsome groom.
So steps in mixing two teams are:
Educate internally both team merging;
Anticipate questions on reasons and scope of merger;
Think your merger announcements to satisfy both teams;
Create new marketing materials;
Identify those clients that need to be visited not just announced;
Integrate star lawyers and efficient secretaries with new created team on similar positions;
You have to know that when two firms come together and strive to become one: the old rules change. Not changing the old rules will lead to immediate split of the merger. In fact upon merger many firms suffer the agonies of decreased morale and professional departure largely because of a failure to communicate.
The question is: who is suffering of losing the “name partner” of its catalized merger?