When I hear that two CEOs are striking a deal in part because they get along well personally, I cringe. Of course, good personal rapport can help you see opportunities in working together and can get a complex deal done. And in long-term partnerships, it is essential to managing the inevitable unforeseen circumstances. But, don’t rely on chemistry — particularly if that chemistry is between only a few of the principals involved — in deciding and managing a major deal. Even trust is an unreliable foundation when it is held by individuals and not supported by broader organizational interests.
Don’t Base Business Partnerships on Personal Chemistry
Ask hard questions before you close the deal.
October 02, 2015