Company Formation - Culture - Case example - Symantec acquiring Peter Norton Computing

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A case in point of how important culture is - exemplified by when Symantec acquired Peter Norton Computing. As told by one of the first sales person hired at Symantec in the UK, Steve Abbott

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Company Formation - Culture - Case example - Symantec acquiring Peter Norton Computing

  1. Harvard innovation lab : Michael J Skok : Startup Secrets : Company Formation HiHi Harvard innovation lab #innovationlab @mjskok #startupsecrets www.mjskok.com START UPCase Example: SECRETS An insider’s guide to unfair competitive advantage Symantec acquires Peter Norton Company Formation: Building an Enduring Company MICHAEL J SKOK North Bridge Venture Partners twitter: @mjskok mjskok.com 1
  2. Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi www.mjskok.com #innovationlab @mjskok #startupsecrets Culture • Define it early, authentically, thoughtfully so it can endure – Try to find things to reinforce it, rather than change it • Should be consistent • Even when you’re – Pivoting your business – Making acquisitions • It’s a good test for whether the acquisition is a fit… 2
  3. Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi www.mjskok.com #innovationlab @mjskok #startupsecrets Example: Symantec acquires Peter Norton Computing • Symantec was once a small company – With many product lines, – From many acquisitions – One acquisition – Peter Norton Computing was particularly large and challenging and taught us so much • It reinforced why Culture and Vision are so important for startups • Listen to the brief video http://youtu.be/Avijn1SIYRI?hd=1 3
  4. Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi www.mjskok.com #innovationlab @mjskok #startupsecrets What’s the most important consideration for your acquisition? • Is this a Cultural fit? – Are you acquiring people with the same values and who operate with the same principles as you? – Acquisitions are hard enough already! 4
  5. Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secret: Check the cultural fit in advance and get the team and other personnel integration done early as a foundation before doing the technology integration. 5
  6. Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi www.mjskok.com #innovationlab @mjskok #startupsecrets Acquisitions - alignment… • Can your combined team get aligned around a SHARED vision, mission, goals etc? • What can you do to align them? – Find a unifying external goal, like beating a competitor – How can the combination of the two companies make 2+2=6 in the marketplace? • EG at Symantec + Peter Norton > we took on and beat PC Tools 6
  7. Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secret: Operationalize culture to harmonize internally so you can focus externally 7
  8. Harvard innovation lab : Michael J Skok : Startup Secrets : Company FormationHi www.mjskok.com #innovationlab @mjskok #startupsecrets For more information See the Resource on Company Formation at http://www.mjskok.com/resource/company-formation Vision Executio n Listen Peopl Learn Value e Lead Prop Iterate Pivot Startup Enduring Cultural Consistency Compan y 8

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