There are quite a few lessons
learned
about the Elon Musk purchase
of Twitter.
One of the key lessons
is…
There should be a transition plan
for changes in management.
Musk fired the key leaders
before he knew
what the f*ck was happening
at Twitter.
He didn’t have that C-Suite’s knowledge base
or their experience.
This happens
more often than
many of us realize.
Buyers of companies
want to start fresh.
They want everything
to be new
immediately.
But starting fresh,
beginning anew
means new company revenue.
Sales are disrupted.
Customers or, in this case,
advertisers become nervous.
They decrease or stop
buying.
This decrease in revenue
is paired with
established company expenses
and expectations.
That combination
requires a lot of upfront cash.
The less expensive way
is to keep the established leadership
until the new leadership
knows the business.
Have a transition plan
for leadership.