Speed and Timing as Competitive Weapons

“Timing played an important role in the success. Rupert’s view of business people as ‘cats on a hot tin roof’ created a spirit of urgency that could inspire miracles.”

“This was another typical quality of the entrepreneurial Rupert: he demanded much of his employees because of his belief that speed, timing and quality were crucial competitive advantages. With this sense of urgency, he would often remind his associates: ‘We are cats on a hot tin roof.’”

“take a decision that the advantages of moving quickly were often lost. There would be no such problem with McCain Foods. Decisions were quickly made and it was also acceptable to make mistakes, provided one learned from them. Morris explained, “If you were wrong, you got a heck of an education and you probably didn’t make that mistake again. If you were right, you were so far ahead of everybody else and it was a major coup for the company.”24 The McCain brothers and Morris hired staff that were of like mind.”

“This is a story about a man from a small community who, together with his brothers, built a global empire. Harrison McCain was a lead- ing entrepreneur of the last century. He had all of the strengths of a great entrepreneur and some of the weaknesses as well. He was bold and decisive, and, if needed, could hold a meeting in his own mind, without need for others to help make a decision. The meetings never lasted long, but they produced decisions and results. Though the early years at McCain Foods were particularly challenging, he seldom had time or inclination for self-doubt. His deep attachment to his business, his community, and its residents is legendary. Driving through Florenceville, one intuitively slows down. The com-”

“Keep Up the Pace, Not the Pressure Speed has been one of our sharpest edges in winning competitive deals. We can typically cut the due diligence and negotiation period from two or three months to a matter of weeks. To achieve this, we do a lot of research before we make our initial contact with the target business. As a result, our first or second meeting with a seller often goes something like this: “This is what we’re prepared to pay for your business, on these terms. If this is acceptable, we can be signing a definitive agreement in two weeks.” That’s going to get their attention.”

“We’ve created a systematic evaluation process that lets us move quickly, with less risk. And while there’s no one-speed-fits-all in M&A, faster is almost always better. Here are some of the specific questions my team and I answer as…”