If you read case studies on mergers and acquisitions, most will tell you they are not successful and don’t add significant value to the business. I will argue one reason for that is a lack of face time.
Working with someone face to face cannot be replaced by technology of any kind; not an email, not a virtual meeting, nothing.
UBEO is an a mergers & acquisitions phase, and the importance of face time cannot be overstated. Getting to know someone on a personal level even in those few minutes before a meeting is as important as the actual meeting. Going to lunch or having a drink at happy hour allows you to remove the trappings of formality and allows you to get to know someone. To use an old phrase, once you “break bread” with someone, the entire dynamic of your relationship changes.
This is honestly my favorite part of this M&A process. Working with someone for a day or two builds bonds you could never forge on a conference call or a virtual meeting. The folks that I have had the privilege to work with in our new companies are some of the smartest, funniest and most passionate people I have ever met. I never would have seen that on any weekly conference call.
At the end of it all, we still come back to basic human connection. I know that person. I have met that person. I like that person. They are great people.
The truth is most people are great people. Take the time to get to know them face to face. It will pay dividends long into the future.