Apr 30 2013
"In a small company, you have to look at a merger as you would a marriage, in that you're going to spend so much time together," says William Lawrence, Ph.D., a professor of economics and entrepreneurship at New York Institute of Technology School of Management, in Inc. Lawrence offers several tips to help manage a merger. "You have to understand the sensitivity of turning something you've built from the bottom up into a different animal," says Lawrence. Defining new roles is also important, he adds, particularly when you understand responsibilities and chain of command. "If there's a problem, you'll know exactly what to do to solve it."