Chapter 29Common Pitfalls in the Opening Game

Here are a list of antipatterns and pitfalls during the opening game when it comes to engaging with potential acquires

1. Not setting the team up for success by not setting clear expectations on communications, management, and roadmap while you are heads down working on M&A.

2. Not having done the homework when choosing the right contacts in the initial conversations.

3. Not preparing for the meetings.

4. Spending too many iterations on the NDA.

5. Not providing requested information or supporting documents in a timely fashion.

6. Being overly rigid in your vision for the future or how acquisition and integration should play out.

7. Being ambiguous or playing hard to get when asked about M&As from the potential acquirer.

8. Getting into the deal terms without sufficient discovery and information exchange.

9. Having unrealistic expectations on conversion rate between initial intro email to first meeting to second meeting.

10. Running a process prematurely.