Tuesday, February 25, 2014

How to Adapt Quickly to New Owners

At some point you are going to experience new owners in your company.  In our economy it is almost inevitable.  And the truth is, it can be a life changing experience.  The new owners of the company are not going to run it exactly the same way that the old owners did.  In fact, they are likely going to make a lot of changes.  So, how do you adapt to new owners. 

The first thing you need to do is realize that you have two choices – get used to it or get out.  The changes that they make might not be to your immediate liking but you can’t fight this.  There are plenty of things in life you can fight but this is not one of them.

So, get on board.  Keep an open mind and get ready to listen and make adaptations.  Get ready to give their new ideas and their new plans every chance to succeed.  Remember the old saying, “There’s more than one way to skin a cat”?  Well, there is more than one way to run a business and chances are the new owners are going to want to do it differently than the old owners did – so give them a chance. 

Another thing you can do is research the new owners.  Find out what companies they have been affiliated with in the past, what positions they held, and what kind of roles they played.  See if they have spoken about business in the media or if they have a presence on any social media sites. LinkedIn is one of the social networks that you might find them in.  If you do find them there, find out what groups they belong to and see if they have made any comments in them.  This can tell you a lot about their business ethics, their standards, and their goals.  With this information you can adapt your own work ethics if needed.

Finally, listen.  Read any memos or emails they send out carefully.  When they address the company (because they will do this fairly soon after they take over) be prepared to jot down questions so that you can ask them about them later.  Get a good feel for where they want to take the company and be ready to make changes.  

The ability to adapt to new owners in a company can mean several things for you.   Of course, it means you will be more likely to keep your job.  But it can also mean that you can open yourself up to promotions.  If you are a team player and willing to work with the new owners they are likely to keep you on their side and be more likely to work with you to achieve your goals.

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