Unveiling the Secrets of Software Company Transitions: Navigating the Path to Success
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The document details a presentation by Will Strohl on navigating software company transitions, covering aspects like due diligence, planning, and integration strategies. It emphasizes the importance of communication throughout the process and outlines key phases from initial assessments to post-acquisition integration. The presentation aims to provide insights for successful transitions in software acquisitions and similar scenarios.
Unveiling the Secrets of Software Company Transitions: Navigating the Path to Success
- 1. #DNNConnect2023 Unveiling the Secrets of Software Company Transitions: Navigating the Path to Success Will Strohl Upendo Ventures @UpendoVentures | [email protected]
- 2. #DNNConnect2023 Please support our valuable sponsors
- 3. #DNNConnect2023 • Using DNN since 2003 • CEO & Founder, Upendo Ventures • Former DNN Corp Employee • Former CEO, Hotcakes Commerce (2013-2017) • DNN MVP Since 2013* • Leader of the Awareness Group • DNN Author & Technical Editor • Founder of Day of DNN & DNNCon • Maintainer of 40+ Open-Source Projects on GitHub Will Strohl @WillStrohl WillStrohl.com
- 4. #DNNConnect2023 • DNN Platform & Evoq • E-Commerce • Implementations & Integrations • Custom Modules, Themes, Extensions • Upgrades & Edition Migrations • Training • Removing Core Code Changes • Fixing Things Other People Did ;) Upendo Ventures @UpendoVentures UpendoVentures.com
- 5. #DNNConnect2023 Unveiling the Secrets of Software Company Transitions: Navigating the Path to Success
- 6. #DNNConnect2023 Introduction • What are we talking about? • Software acquisitions • Software inheritances • Any other instances that are similar but don’t neatly fit into those “categories”
- 7. #DNNConnect2023 Where/How Does This All Begin?
- 8. #DNNConnect2023 Initial Process Due Diligence Design & Ramp-Up Announcement Pre-Close Planning
- 9. #DNNConnect2023 Due Diligence • Find out for you and THEM… is this a good fit? • What are the benefits of the deal? • What are the downsides of the deal? • Are there any reasons internally to be concerned? • Are there any reasons externally to be concerned? • What do you think it will take to complete the process? • If you have current clients/employees, how will this impact them? • What do you think things will look like in 5 years?
- 10. #DNNConnect2023 Design & Ramp-Up • You’ve made the decision… • Who will be involved in any next steps? • Build a team for each initiative, if you can • What are the strategic goals? • How do you think the process and path will go? • Where/how will things be maintained? • Are there any technical challenges? • If there are technical challenges, is there a team/plan to address them?
- 11. #DNNConnect2023 Announcement • Internally, announce the intent of both parties • Stakeholders could include: • Employees, vendors, regulators, etc. • Explain your thought process, benefits, downsides, and any concerns. • Be honest • Except feedback • Balance everything • Consider involving your most valuable clients, if necessary • If it works for your scenario, consider publishing a teaser
- 12. #DNNConnect2023 Pre-Close Planning • Damage mitigation phase • DO NOT go dark!!! • External perspective should be “business as usual” • Leaks may have happened at this point • If necessary, address any leaks • If there are any leaks, look for competitive poaching • If there are any internal staff looking to make moves, address them • Employee feedback is crucial at this stage • If necessary, formally define a communications team
- 14. #DNNConnect2023 Day One • A thorough communications plan should be complete • This is when you formally announce the event to the world • If possible, make sure it’s actually an event • All clients should be directly notified prior to any public announcements • Be prepared to answer questions from and for all stakeholders • Are any leadership/process changes expected? • All internal staff should be well-informed at this point • Any public announcements should be accompanied by a press release
- 15. #DNNConnect2023 Integration Planning • Incoming queries & complaints will be coming in • Communicate frequently for anything mission critical • Limit any changes to those that are low-risk • Communicate any intended changes that will take place • Only communicate those things that will directly impact stakeholders • Evaluate both systems/companies to determine tools/processes that may be valuable to keep
- 16. #DNNConnect2023 Stabilize/Transform • Establish TRUE two-way communications internally & externally • This phase may be hours/days/weeks from the previous phase • Evaluate all of the active issues that may prevent prospects from engaging with the brand • Identify any pending support/feature requests that may be pending, and work to close them ASAP • Consider involving external staff/vendors to know what to expect • Be ready to speak to any relevant software roadmap inquiries
- 17. #DNNConnect2023 Contact Us • We’re excited to have your feedback! • [email protected]
- 19. #DNNConnect2023 Please support our valuable sponsors
Editor's Notes
- #8: An acquisition or takeover can happen many different ways, including: buyout, takeover (multiple types), outright sell, etc.
- #12: Describe the new company Describe the vision of the merger/acquisition and how it will impact staff Communicate the timeline Explain why this is happening What are the goals of this event?