What Was the Hardest Part of the Acquisition? – Ask JP #088

Hello, everybody, it’s an episode of Ask JP. Today’s question, what was the most difficult thing about the acquisition of The Moery Company by Advancea? That’s a great question, and I’ve thought about it a lot.
1: Self-awareness and recognition
First, I think the recognition or self-awareness that additional resources could make the difference in a new Moery organization and help it flourish was very important, and that may or may not involve you as the leader. That kind of self-awareness or recognition was a big thing, and it was difficult.
I mean I wasn’t working off of a playbook. Even after a decade-plus, I was still learning. We’re kind of in a startup phase, but I recognized what was happening in the association space. The opportunities that were coming at us as an organization after associations were emerging from COVID, I knew we needed a partner to fully embrace all the opportunities and have the resources in place to do that.
2: Telling the team
Secondly, the other was letting the team know.  I’ve mentioned this before but, the company was my best friend, still is. The team was my family in a way. I’ve always said that business is personal, and so that was very difficult and complex to handle. At the end of the day, I believe that it was the best thing for the team and the company for a new era and the next level.
Those are the two things that were the most difficult.  One was the self-awareness that a new acquisition could be best, and the second was how to work that through with your family, your corporate family if you will.
I didn’t come from much, and we started this company a little bit from scratch. Would I do many things the same way? Yes. Would I do some things differently? For sure.  It’s been a great ride, and I’m really excited about the new journey, not only for The Moery Company but for myself. Thanks for the question. I enjoyed answering it and telling you about it. Be well.