Angus Jaffray has run three highly successful PMIs, he has developed a playbook and understands how to run a PMI with all its pressure and unpredictability. Three core elements will go a long way to determining your success: the right internal team; a robust toolkit; and experience.
If you put the right team in place, then you are on the right track, noting that quality always beats quantity
The core team should be 6-12 people.
Staffed with high talent. People with a mix of IQ, EQ, a tolerance for ambiguity and a self-starting mentality are much more important than technical expertise, which can be brought in as required.
Every PMI is different, but there are common phases and common steps. A toolkit which you can adapt along the way will give you a head start
Rigorous pre-merger planning
Meticulous Day 1 implementation
Stabilisation and discovery in the first 90 days
Long term synergy realisation and cultural integration
Finally, a bit of experience really helps.
As mentioned above PMIs are complex and emotional. You are dealing with big value drivers, entrenched views and people who may be concerned for their future.
You need to be able to make good decisions, often under tight timelines and you need to be able to respectfully call people out when they are not fully aligned with the company goals.
This is where the experience of having implemented multiple PMIs is really valuable. The ability to spot the pattern, evaluate the trade-offs and make the call.
At iNexus we will not run your PMI for you. We think the best outcomes are delivered when you run your own show. What we will do it help you choose the right team, provide your team with the training and tools to run a successful PMI and provide coaching and support through the whole process. You will only need to use us once because then you will have a fully capable team to implement your next PMI.
