"I was fortunate to have Warren on my management team for several years and in several key positions during my period of Chairman, CEO of Coltec Industries. Warren's leadership skills were exceptional resulting in both financial and cultural improvements with every assignment. He is the real deal." —John W. Guffey, Jr., Former Chairman and CEO, Coltec Industries
"Warren's passion for all aspects of a business is second to none. He not only understands, but can dissect the idiosyncrasies of markets, suppliers, customers, processes, and functional areas of a business as well as their relationships. In doing so, he is able to bring new life and profitability to an organization along with discipline and strong internal control." —Andrea Simon, Divisional Finance Director, Weir Oil & Gas
Winning in the 21st Century: Business Principles & Processes That Really Work provides the reader with key principles and processes, best practises, and personal experiences on how to operate a business to achieve consistent success. I have often said that if I had known what I know now in my first corporate President's role, I could have done so much more to drive that business to even greater success.
This book provides the reader (CEO's, Presidents, Business Owners, Entrepreneurs, and those aspiring to these positions) with real-life examples and straight to the point principles, processes, and best practices that made all the difference in the world for me in my 15-year career operating winning businesses.
Warren Martin graduated from Kenyon College with a BS in Biology in 1978. He received an MBA from the University of Dayton in 1982. He had a 35-year career in the industrial products and capital goods manufacturing sector. He held President roles and higher during the last 15 years of his career. He currently resides in Columbus, Ohio, with his wife Paula and their two dogs. He has been happily married for 35 years. He currently is doing consulting work through his company 15 Consulting.
In Chapter 7 of my book, "Winning in the 21st century: Business Principles & Processes That Really Work," I give my insight into the basics of acquisitions and divestitures. I list primary reasons for failure with explanations as to why and how to avoid these mistakes. I also discuss the details of a great Due Diligence process as well as the specifics and importance of an outstanding Integration process. If you are considering buying or selling a business, this is a must read chapter!
Winning in the 21st Century
Acquisitions can be game changers for the acquiring company. If things go as expected, the acquiring company will have increased their total enterprise value and improved their position in the markets they serve. If incorrect choices are made, it can spell disaster for the acquiring company. Enterprise value can be damaged and the acquiring company may be required to take a substantial impairment charge. During my career, I took part in several acquisitions. Some were successful and others were failures. In this chapter I want to provide the reader with reasons to do an acquisition as well as thoughts on why not to pursue one. Additionally, I will talk about valuation and due diligence. I will also spend some time on what the seller needs to do to prepare their business for sale. Finally, I will finish with a discussion on a critical component of success for acquisitions: the actual integration. I am certainly not an expert on acquisitions and divestitures, but hopefully I can impart some basic do’s and don’ts for the reader that they can build on by engaging professionals, once they have decided to acquire or divest a business.