Frequently asked questions

From my experience, I recommend that the integration issues that are important for buyers and sellers are already discussed during the acquisition phase and also set out in writing. Ideally, this should be done before the due diligence (company audit phase) begins, as this phase incurs higher costs for both parties. It should be transparent for both parties what is planned for the next one to two years after the takeover.

The market value method has now become established among engineering firms. This is a very pragmatic approach to determining the value of a company. All that is needed is the earnings before interest and tax(EBIT ) and a multiplier, i.e. a factor by which the average result is multiplied. The values for the last three years are normally used for this.

The duration of a business sale can vary greatly and depends on a number of factors, including the complexity of the transaction, the industry in which the business operates, the size of the business and individual circumstances. In general, a company sale can take several months to a year or longer. Below are some factors that can influence the duration:

Preparation phase: Before the actual sales process begins, many companies have to invest time in preparing their company for sale. This includes the preparation of financial data, the identification of potential buyers and the clarification of legal and operational issues. This phase can take several months.

Searching for a buyer: Finding the right buyer can take some time. This can range from identifying potential buyers, making contact and negotiations to due diligence.

Due diligence: The due diligence phase, in which the buyer closely examines the company in order to assess risks and opportunities, can also take several weeks to several months, depending on the complexity of the transaction and the special features of the company to be acquired.

Negotiations: Negotiations on the purchase price and contract terms can take some time and require several rounds.

Financing: Obtaining the necessary financing for the purchase can take some time and depends on the buyer’s financial situation.

Approvals and legal steps: In some cases, approvals must be obtained from supervisory authorities or shareholders, which takes additional time. Preparing and checking the contractual documents can also take some time.

Closing: The actual closing of the transaction can also take several weeks or months, as all documents must be signed and all necessary steps completed.

It is important to note that every business sale is unique and the duration can vary greatly. My experience shows that the seller often underestimates the time required for the acquisition phase (he also has to manage the ongoing business) and the buyer the time required for the subsequent integration phase. Thorough planning and preparation as well as cooperation with experienced specialists can help to speed up the process and make it smoother.

Mergers and acquisitions (M&A) are complex corporate transactions, the success of which can depend on various factors. The success rate of M&A transactions fluctuates over time and depends on the industry, the size of the companies involved, the geographical region and other factors.

There are different estimates of how many M&A transactions fail. A widespread estimate assumes that around 40-80% of M&A transactions fail or do not achieve the expected synergy effects or increases in value. These high failure rates can be attributed to a number of reasons:

• Cultural differences: The integration of companies with different corporate cultures can be challenging and lead to conflicts. A merger partner is often expected to make an adjustment that it does not want to make itself. If both sides wait for the other to adapt, the companies will not be able to grow together.
• Management errors: Misjudgements and management errors during the integration process can jeopardize success. Sometimes managers do not focus on the long-term benefit of the company, but on their own short-term advantage.
• Insufficient due diligence: Incomplete or inaccurate due diligence prior to the transaction can lead to important risks and problems being overlooked.
• Market and industry changes: External factors such as changes in market dynamics or the competitive situation can affect the success of the transaction.
• Financing difficulties: Difficulties in obtaining financing for the transaction can lead to problems.

However, it is important to note that not all M&A transactions fail and that the transactions I have assisted have created significant added value for the companies involved. The success of an M&A transaction depends on careful planning, thorough due diligence, effective integration with realistic timelines and a clear strategic vision.

It is highly advisable to obtain comprehensive information and professional advice before an M&A transaction in order to increase the chances of success and minimize the risks.

Building Information Modeling (BIM) offers numerous advantages for the planning, construction and operation of buildings and infrastructure. Here are some of the key benefits of BIM:

• Improved planning and construction: BIM enables more accurate, efficient and realistic planning of construction projects. By using 3D models, architects, engineers and designers can identify and rectify potential problems at an early stage, resulting in fewer changes and errors.
• Increased efficiency: BIM enables more efficient resource planning, including materials, labor and machinery. This leads to time and cost savings.
• Better communication and collaboration: All project stakeholders have access to the same BIM model, which improves communication and collaboration between architects, engineers, contractors, clients and other stakeholders. Changes and updates can be exchanged and tracked in real time.
• Reduction of conflicts and errors: By identifying conflicts and problems in a digital model, changes can be made before physical construction begins. This minimizes change orders, design errors and delays.
• Time savings: BIM can speed up the entire construction process from planning to completion. This leads to shorter construction times and faster project completion.
• Data availability: BIM enables comprehensive data collection on construction projects. This data can be used in the operation and maintenance phase to extend the life cycle of the building or infrastructure and reduce operating costs.
• Sustainability and energy efficiency: BIM can contribute to the optimization of energy efficiency and sustainable planning. The simulation of environmental impact and energy consumption can help to make environmentally friendly decisions.
• Visualization and presentation: BIM enables realistic visualization of construction projects, which facilitates the presentation and marketing of projects.
• Documentation and reporting: BIM enables accurate and comprehensive documentation of the entire project, which improves traceability and reporting on the progress and quality of the project.
• Quality control: BIM supports quality control by integrating quality standards and guidelines into the model and performing automatic checks.
• Risk management: BIM can help identify and assess risks and uncertainties associated with the project, leading to a better risk management strategy.

The benefits of BIM are manifold and its application helps to improve the quality, efficiency and sustainability of infrastructure projects over their entire life cycle. BIM is therefore increasingly being used by architects, engineers, construction companies and clients throughout the construction and infrastructure sector.

The construction, engineering and infrastructure industries are facing a number of digital challenges that are changing the way projects are planned, delivered and managed. Some of the most important digital challenges for this sector are listed below:

• Digitalization of planning and design processes: The use of Building Information Modeling (BIM) and other digital planning tools enables more accurate, efficient and collaborative planning of construction projects. The challenge is to integrate these tools effectively into the workflow and ensure that the teams have the necessary skills.
• Digital communication and collaboration: Collaboration between the various parties involved in construction projects, including architects, engineers, clients, authorities and contractors, requires effective digital communication and collaboration platforms. The challenge is to use these tools safely and efficiently.
• Data management and big data: Infrastructure projects generate large volumes of data. The challenge is to collect, store and analyze this data throughout the lifecycle of the infrastructure in order to make informed decisions and increase efficiency.
• IoT (Internet of Things) and sensor technology: The use of IoT devices and sensors on construction sites enables real-time monitoring of resources, safety and operations. The challenge is to use the data from these devices to increase productivity and minimize risks.
• Robotics and automation: The use of robots and automated machines in the infrastructure industry can increase efficiency. The challenge is to implement these technologies and ensure that employees have the necessary skills to work with them.
• Cybersecurity: With increasing digitalization, cybersecurity is crucial to protect data and systems from attacks and data breaches.
• Mobile technology and apps: Mobile apps can be used on construction sites for project management, inspections and communication. The challenge is to ensure that employees use these technologies effectively and that the devices and apps are secure.
• Qualification and training of staff: The introduction of digital technologies requires the training and qualification of staff to ensure that the tools can be used effectively.

Overcoming these digital challenges requires investment in technology, training and process optimization. Companies that successfully master these challenges can benefit from more efficient processes, lower costs and a better competitive position. At the same time, jobs are becoming more future-proof and attractive. Companies with digital expertise increase their enterprise value and become more attractive to investors.

The integration of companies, whether through mergers, acquisitions or other forms of business combinations, is a complex process that requires careful planning and implementation. In my experience, the following six success factors are of particular importance:

• Strategy orientation: The integration strategy is clearly defined and forms the consistent guideline for the integration process (i.e. purpose, vision, mission, values, target business model, target operating model, roadmap)
• Leadership: Strong commitment from top management throughout the entire integration process – lived role model and change mentality
• Mobilization: Comprehensive, cross-functional involvement of managers, employees and experts – based on defined roles, responsibilities and degrees of autonomy.
• Communication and cooperation: Trusting and results-oriented communication and cooperation with existing and newly acquired companies at all levels of the company, promoted by top management and supported by executives.
• Transparency: Comprehensive transparency about the goals, measures and results of integration
• Agility: Simple and flexible structure and processes for integration – step-by-step, milestone-oriented roadmap

There are of course other factors, the list is very extensive. Successful integration of companies therefore requires a comprehensive and coordinated approach that takes all key factors into account. Effective integration management and the involvement of all relevant stakeholders are key to success.

During due diligence as part of an M&A transaction, the buyer examines the target company in order to obtain a comprehensive assessment of the opportunities, risks and financial obligations. Due diligence comprises a large number of sub-areas. The most important are:

Financial due diligence: The financial situation of the target company is analyzed here. This includes auditing annual financial statements, accounting, income, expenses, debts, financial forecasts and cash flow analyses.

Legal due diligence: In this sub-area, all legal matters of the target company are examined. These include contracts, legal disputes, intellectual property, patents, licenses, compliance with laws and regulations and other legal risks.

Tax due diligence: Tax due diligence analyzes the tax situation of the target company in order to identify possible tax risks, obligations and savings potential.

Environmental and sustainability due diligence: Environmental due diligence examines the target company’s impact on the environment and its compliance with environmental regulations and sustainability practices.

Technical due diligence: This sub-area focuses on the technical aspects of the company such as production facilities, technology, IT systems and other technical assets.

Market and competitive due diligence: Market and competitive due diligence analyzes the market in which the target company operates, as well as its competitors, customers and suppliers. This helps to assess potential opportunities and risks in connection with the market position.

Project due diligence: Analysis of selected open bids, ongoing projects and projects in the target company’s order backlog. The review of project contracts, profitability, schedules, etc. provides insights into the fundamentals of the project business and gives the buyer an overview of the existing project management processes and systems.

Human resources and HR due diligence: Here, issues relating to the employees of the target company are examined, such as personnel contracts, social benefits, labor law. In addition, topics such as organizational structure, personnel development, recruiting, age structure and employee know-how are important components of the audit.

Operational due diligence: In this phase, the operational processes of the target company are examined in order to identify efficiency improvements, cost savings and operational risks.

Cultural due diligence: This phase deals with the corporate culture and organizational values to ensure that these are compatible with those of the buyer and that the integration runs as smoothly as possible.

IT and data protection due diligence: In an increasingly digital world, it is important to review the target company’s IT systems and data protection practices to identify security risks and data protection issues.

These sub-areas are just a few examples and due diligence can vary depending on the type of transaction. In any case, it is important to carefully examine all relevant aspects in order to make an informed decision about the M&A transaction. The seller must plan a considerable amount of time for the preparation of the due diligence, in particular for the provision of all necessary documents, and for the execution of the due diligence, i.e. for answering questions etc.. The better the due diligence is prepared, the faster and more efficient the buyer’s review can be.

There is no scientifically universal procedure for a merger & acquisition process. In my practice, the process of buying or selling a company can generally be divided into the following five overarching phases:

1. the preparation phase
2. the company audit phase (due diligence)
3. the contract negotiation phase
4. the execution phase
5. the post-closing phase (integration phase)

Each of these phases is in turn subdivided into various individual steps, which do not have to be implemented in the same way in every M&A process. The clearer the objectives of the seller and buyer are defined, the more targeted the individual steps can be to achieve a successful deal.

The cost of M&A advice varies widely and depends on a number of factors, including the size and complexity of the transaction, the reputation and experience of the advisory firm and the nature of the advisory agreement. Below I have listed some factors that can influence the costs:

• Transaction size: Larger transactions usually require more work and resources on the part of advisors, which can lead to higher fees.
• Complexity: The more complex the transaction, the more time and expertise is required, which can increase costs.
• Experience and reputation: Renowned M&A advisors with a proven track record can charge higher fees than smaller or less experienced providers.
• Type of consulting contract: The costs may vary depending on the type of consulting contract. There are various models, including flat fees, performance-based fees (depending on the completion of the transaction), hourly fees and mixed models.
• Additional services: Additional services such as due diligence, tax advice, legal advice and company valuation can increase the overall costs.
• Period: Should the advisory services only cover the actual transaction phase (pre-merger phase) up to completion or should the integration phase (post-merger phase) also be prepared and accompanied?

It is difficult to give an exact average price for M&A advisory services, as costs vary greatly. In some cases, an M&A advisor’s fee may be a percentage of the transaction value, while in other cases flat or hourly fees may be agreed.

To avoid misunderstandings, it is advisable to clearly agree the costs and structure of the consultancy contract in advance. You should also carefully consider the qualifications and experience of the M&A advisor to ensure that they can provide you with the support you need.

Business transformation refers to a comprehensive and far-reaching change in an organization that aims to revise the company’s structure, processes, culture and/or strategy in order to improve competitiveness, respond to changing market conditions or achieve long-term goals. This transformation process can affect various aspects of the company, including technology, management, personnel, business models, etc.

There are various reasons why companies carry out a transformation:

• Competitiveness: Companies must constantly adapt to changing market conditions in order to remain competitive.
• Increasing efficiency: Companies can optimize processes to reduce costs and increase efficiency.
• Digital transformation: Companies are adapting to the requirements of the digital world by using technology to improve their business models or develop new business models.
• Customer focus: Companies can concentrate more on the needs and wishes of their customers.
• Cultural change: A cultural change may be necessary to promote the acceptance of new ideas and changes in the organization.

Business transformation can be a lengthy and complex task that requires careful planning, resource allocation and leadership. It can take various forms, including a digital transformation, an organizational restructuring, a strategic realignment or a combination of these elements. Companies that have undergone a successful transformation are generally better positioned to master current and future market challenges.

The treatment of the acquired company’s personnel after an M&A transaction may vary depending on the objectives of the transaction, the agreements between the parties and the applicable labor laws and practices. Below are some common scenarios for the future of the acquired company’s employees after an M&A transaction:

Retention and integration: In some cases, the acquiring company wishes to largely retain the existing workforce of the acquired company. In this case, the employees of the acquired company can be integrated into the parent company and continue to work in their positions.

Restructuring and downsizing: In other cases, the aim of the acquisition may be to reduce costs and create synergies. This can lead to restructuring and job losses in the acquired company.

Independence: In some cases, the acquired company can continue to operate as an independent unit within the acquiring company, with the employees remaining in their previous functions and under their previous management.

It is important to note that dealing with employees after an M&A transaction should be carefully planned to address potential legal and cultural challenges. Compliance with applicable labor laws and regulations is critical to avoid legal issues. Successful integration and the handling of personnel are crucial to the success of an M&A transaction and the realization of the desired synergies.

Clear and transparent communication is therefore essential. Employees should be informed about the upcoming changes and have the opportunity to ask questions and express concerns. My advice is to communicate even unpleasant truths openly and in good time, as this is the only way to steer the change process in a targeted manner. It is important that the planned steps are communicated openly and that the subsequent actions correspond to the announcements. In this way, a basis of trust can be created and the workforce can be involved in the process.

Letter of Intent An LOI (Letter of Intent) and an NBO (Non-Binding Offer) are two different documents that are used in business negotiations and especially in mergers and acquisitions. Both serve to initiate the process of a company takeover or merger and to record the intentions of the parties involved.

Letter of Intent (LOI): A Letter of Intent (LOI), also known as a letter of intent or preliminary agreement, is a document drawn up by one or both parties as part of a company takeover or merger. The LOI serves to record the basic conditions and intentions of the transaction in writing. Although an LOI documents the intentions of the parties, it is generally not legally binding. Although an LOI is not normally binding, it can nevertheless contain important obligations that must be complied with. However, the final and binding agreements are made in a comprehensive purchase contract.

Non-Binding Offer (NBO): A Non-Binding Offer (NBO) is a document prepared by one party (usually the potential buyer) and presented to the target company as an expression of interest in acquiring the company. In contrast to an LOI, an NBO is less binding and less formal. An NBO often serves to signal the buyer’s interest and initiate the process of acquiring the company. It is normally used in the early stages of transaction negotiations, before detailed information is exchanged.

It is important to note that both LOIs and NBOs are generally non-binding and should not be considered final contracts. Rather, they serve to initiate the negotiation process and clarify the basic intentions of the parties involved before legally binding contracts are drawn up. However, its importance should not be underestimated, as the main objectives of the buyers and sellers can be discussed and recorded here at an early stage. This avoids surprises in the subsequent (cost-intensive) process flow.

Building Information Modeling (BIM) is a digital method for the planning, design, construction and management of building and infrastructure projects.

BIM is based on the creation and management of a comprehensive digital model that contains all relevant information about a building or infrastructure.

This model serves as a central source of information for everyone involved in a construction project, including architects, engineers, contractors, clients and facility management teams.

The abbreviation M&A stands for “mergers and acquisitions”. M&A refers to a business strategy in which companies either merge (combine) or acquire (take over) other companies in order to expand their business, create synergies, promote growth or achieve other strategic goals.

The term “Enterprise Value” (EV) is an important key figure in the field of company valuation. It represents the total value of a company and takes into account both the equity and debt capital structure. Essentially, enterprise value corresponds to the amount that a potential buyer would have to raise in order to take over a company in full. Enterprise value is made up of the following three components:

1. Market value of equity (market capitalization)
2. Debt: This is the company’s long-term and short-term debt, including bonds, loans and other liabilities.
3. Cash and cash equivalents (cash and cash equivalents): These are liquid funds that the company has in its account or has invested in easily tradable assets such as government bonds in the short term.

Enterprise value is calculated as follows: Enterprise Value = market value of equity + debt – cash and equivalent items.
The enterprise value indicates what it would cost the buyer to acquire the entire company and at the same time assume all debts and use the existing cash.

“Cash and debt free” in the company valuation means that the company is debt free at the time of the valuation and no longer has any liquid funds in its accounts.
The cash and debt free enterprise value is calculated as follows: Cash and Debt Free Enterprise Value = market value of equity
This valuation method is often used in M&A transactions to determine the actual price that a buyer would have to pay for the company after all debts have been settled and available cash has been deducted. In this way, the pure value of the operating business can be determined without taking into account the financial impact of debt and cash.

The post-closing or post-merger phase in the M&A process refers to the period after completion of the transaction in which the merged companies begin to operate as a single entity. This phase immediately follows the closing process, in which the transaction is formally completed and the buyer takes over the target company. The post-closing phase is crucial to the success of the merger or acquisition and can last weeks, months or even years. Various tasks and challenges need to be overcome in the post-closing phase:

Integration: The merger of companies often requires considerable integration effort. This can include the merging of business processes, technologies, personnel structures, cultures and other aspects of the company.

Communication: Clear and effective communication is crucial to ensure that employees, customers, suppliers and other stakeholders are informed about the changes and the vision of the merged company and support the change process.

Cultural change: The integration of corporate cultures can be a major challenge. Managers must promote a common culture and shared values in order to minimize conflicts and ensure smooth collaboration.

Business continuity: During the post-closing phase, business activities must continue to run smoothly in order to meet customer needs and maintain sales.

Monitoring and adjustment: The company’s performance should be continuously monitored to ensure that the strategic objectives are achieved. If necessary, adjustments can be made to solve problems or take advantage of opportunities.

Compliance and law: Compliance with laws and contracts is of crucial importance. All legal matters arising from the transaction must be handled properly.

The post-closing phase requires careful planning and execution to ensure that the merger or acquisition delivers the intended benefits and has no undesirable consequences. In my experience, this is one of the most important steps in the entire M&A process and can have a significant impact on the long-term success of the transaction.

Good transformation or change management processes are characterized by several key factors that ensure that organizational changes are implemented effectively and successfully. The following are some important features that characterize good change management processes:

• Clear goals and vision: Change management processes should formulate clear goals and a convincing vision for the change. These goals should be understandable for all those involved in order to provide a clear direction.
• Leadership and support: Committed and competent leadership is crucial. Managers should actively support change, communicate the need for change and set a good example.
• Resource management: Sufficient resources should be made available for the change process, including financial, time and personnel resources. Your own project employees need sufficient time to support the change process, which can lead to (partial) release from their actual activities.
• Communication: Effective communication is crucial. You should pursue a clear communication strategy that informs all those involved regularly, transparently and truthfully about the change process.
• Employee involvement: Employees should be involved in the change process. Your opinions, concerns and ideas should be heard and taken into account. This costs more time at the beginning, but pays off during implementation. It increases the acceptance and commitment of employees.
• Training and qualification: Employees and managers should be given the necessary skills and knowledge to be able to work successfully in the new environment. Training and qualification programs are crucial.
• Dealing with resistance: It is important to be prepared for resistance to change from various interest groups and to develop strategies for dealing with this resistance. Dealing with resistance requires empathy and patience. Take the time to listen and remain open to suggestions.
• Monitoring and adaptation: Change management processes should be continuously monitored to ensure that they are on track. Adjustments should be made flexibly if obstacles arise or the framework conditions change.
• Measurable results: You should set measurable goals and key performance indicators (KPIs) to monitor the progress of change and evaluate success. KPIs are also very helpful in communicating with all stakeholders.
• Continuous learning process: Change management is a continuous process. Organizations should learn from past experiences in order to better manage future changes. Build fixed routines for these learning loops into your organization.
• Documentation and knowledge management: The experiences and findings from the change process should be documented and made available for future changes.
• Cultural change: In many cases, successful change also requires an adaptation of the corporate culture to the new goals and values.

Good change management processes take these factors into account and adapt them to the specific needs and circumstances of the organization. They are flexible, adaptable and take the human aspects of change seriously. Employees very quickly realize whether the change process is serious and whether the extra effort is worthwhile overall. It’s a long-distance run, not a sprint!

Implementing an ERP system in a company is a complex project and there are a number of possible errors that stand in the way of a smooth implementation and long-term success. Below are some common mistakes that should be avoided in my practical experience:

• Inaccurate requirements analysis: A fundamental step in planning is the precise analysis of business requirements. Choosing the right ERP system depends on having a clear idea of what the company needs. Existing processes and tools are often simply transferred to a new ERP solution, missing the opportunity for fundamental improvements.
• Insufficient planning: A lack of planning is one of the most common mistakes when introducing an ERP system. It is important to create a detailed implementation plan that defines the project goals, timelines, budgets and resource requirements.
• Lack of management commitment: The support and commitment of management is crucial. If the management is not behind the project, implementation can fail.
• Lack of employee training and preparation: Employees need to be prepared for the changes that an ERP system entails. Training is essential so that employees can use the software effectively.
• Inadequate data cleansing and conversion: The quality of the data in the old system has a direct influence on the quality of the data in the new ERP system. The data should be cleaned, converted and transferred in order to minimise errors. The time required for this is often underestimated.
• Excessive customisation of the system: While customisation can be important to meet specific requirements, excessive customisation can lead to high costs and complexity. It is advisable to utilise the standard functions of the ERP system as far as possible.
• Lack of interoperability: Make sure that your new ERP system can be well integrated with other existing systems and applications in the company.
• Lack of consideration for user-friendliness: An ERP system should be simple and user-friendly. The design and user interface should be tailored to the needs of the employees.
• Unrealistic schedules and expectations: The implementation of an ERP system takes a lot of time. It is important to set realistic timelines and expectations. Internal employees in particular are doubly burdened by the implementation project and day-to-day business, and it is rare for a company to be able to give all relevant project employees 100% time off over a longer period of time.
• Insufficient testing: Testing is critical to ensure that the ERP system is working properly. Missing tests can lead to errors and problems as soon as the system is in operation.
• Insufficient monitoring and control: Monitoring and control of the project during implementation is important to ensure that the project stays on track and that problems are recognised and rectified in good time.
• Insufficient monitoring and control: Monitoring and control of the project during implementation is important to ensure that the project stays on track and that problems are recognised and rectified in good time.
• Poor maintenance and updating: Once implemented, it is important to regularly maintain and update the ERP system to ensure it meets changing business needs. This requires sufficient resources.

Avoiding these mistakes can help to ensure that the implementation of an ERP system is successful and that the long-term benefits for the company are maximised. It is advisable to seek professional advice and follow best practice to ensure a successful ERP implementation.

The introduction of Building Information Modeling (BIM) in a company is a far-reaching change process that extends over a longer period of time. Here are some important points that have led to success in the introduction of BIM in my company:

• Leadership and management commitment: Management must show commitment and vision for the introduction of BIM. This includes providing resources and creating a culture that supports the transition to BIM.
• Establish clear strategic objectives: Define clear strategic objectives and determine how the introduction of BIM can contribute to achieving these objectives. This can include the number of BIM projects, increasing efficiency, improving quality or opening up new business opportunities.
• Resources and training: Ensure that sufficient resources, including financial resources and qualified staff, are available for the introduction of BIM. Invest in training and development to ensure that your employees develop the necessary skills.
• Carry out pilot projects: Start with small pilot projects to gain experience and gradually drive forward the introduction of BIM. This helps to create success stories and familiarize employees with the technology.
• Select BIM software: Choose suitable BIM software that meets your needs and the requirements of the market. Consider interoperability with other software applications used by your company, partners and customers.
• Create BIM standards and guidelines: Establish clear BIM standards and guidelines that govern how BIM is used in your organization. This includes file formats, nomenclature and workflows.
• Form BIM teams: Form BIM teams or groups that are responsible for the implementation and coordination of BIM projects. These teams should have the necessary skills and knowledge.
• Internal communication and training: Communicate the benefits of BIM internally and train your employees to ensure they can use the new processes and technologies effectively. For example, we have also regularly organized online BIM cafés in which employees have presented practical examples to interested employees.
• Involve external partners and stakeholders: Work closely with external partners such as architects, engineers, construction companies and contractors to ensure that BIM is used throughout the value chain.
• Compliance and quality assurance: Ensure that the BIM implementation complies with the relevant laws, regulations and industry standards. Implement quality control processes to ensure the accuracy of BIM models.
• Feedback and continuous improvement: Collect feedback from employees and BIM users and use it for continuous improvement. Adapt your BIM strategy and processes to changing requirements.
• Data security and data protection: Secure BIM data appropriately and protect it against unauthorized access and data loss.

The introduction of BIM is a long-term process that requires time and patience. A gradual transition and continuous training and development are crucial for success. However, the investment in BIM will pay off in the medium term through increased efficiency, quality improvements and competitive advantages. Above all, my employees appreciate the partnership-based approach with all those involved in a BIM project; it’s more about finding solutions together and less about assigning blame to one another, and the number of follow-up discussions has dropped significantly.

Succession planning plays a decisive role in the value of a company and can also have a significant influence on a planned company sale. Here are some reasons why succession planning is so important:

Continuity and stability: Well thought-out succession planning ensures that the company can continue to be run in a stable and continuous manner even after the founder or previous owner has left. This creates trust among customers, employees, suppliers and other stakeholders and can maintain or even increase the value of the company.

Value of the company: A company that has a clear succession plan and is able to continue its business without major interruptions is often considered more valuable. Buyers or investors are often prepared to pay a higher price for a well-managed company. For smaller companies without a successor, the company value can approach zero.

Attractiveness for potential buyers: If a company is to be sold, the existence of a solid succession plan can increase the interest of potential buyers. They see this as less uncertainty and a lower risk for the future performance of the company.

Negotiating power: If a company has a clear succession plan and does not find itself in a critical situation due to a sudden change of ownership or a lack of managers, it can take a stronger position in negotiations with potential buyers or investors.

Time horizon: Good succession planning takes time to be successfully implemented. The earlier you start planning, the better. If an entrepreneur intends to sell their company in the next few years, it is advisable to tackle succession planning at an early stage.

In summary, it can be said that succession planning is of great importance for the company value, as it supports the stability, attractiveness and value enhancement of the company. It can also facilitate the transition to new owners or investors. Companies should view succession planning as a strategic measure with long-term benefits, regardless of whether a sale is planned in the near future or not.

The infrastructure sector still has a lot of catching up to do in terms of digitalization and automation. This is where start-up solutions can play an increasingly important role by helping to modernize and improve traditional and often slow business practices. Here are some reasons why start-up solutions are important for the infrastructure sector:

• Innovative technologies and approaches: Start-ups often bring fresh ideas and innovative technologies to the industry. You are flexible and agile and can find new ways to overcome challenges in the infrastructure sector.
• Increasing efficiency: Start-ups develop technologies and solutions that can increase efficiency in the planning, construction and operation of infrastructure projects. This leads to shorter project runtimes, lower costs and better utilization of resources.
• Digitalization: The infrastructure sector is benefiting from digitalization and start-ups are playing an important role in the introduction of Building Information Modeling (BIM), IoT, data analysis and other digital technologies.
• Sustainability: Start-ups in the infrastructure sector develop sustainable technologies and solutions that help to minimize the impact of construction projects on the environment and create more environmentally friendly infrastructures.
• Improved data collection and analysis: Start-ups often offer solutions for improved data collection and analysis, which help to improve the quality and accuracy of planning and construction decisions.
• Supply chain optimization: Start-ups develop technologies to optimize the supply chain in the infrastructure industry in order to procure and manage materials and resources more efficiently.
• Cost reduction: Many start-ups strive to offer cost-effective solutions that help to reduce the overall costs of infrastructure projects.
• Competitiveness: The introduction of start-up solutions can make companies in the infrastructure sector more competitive, as they are able to use innovative technologies and approaches to differentiate themselves from their competitors.
• Faster response to market requirements: Start-ups can react quickly to changing market requirements and trends as they are not tied to established structures and processes.
• New business opportunities: Start-ups often create new business opportunities in the infrastructure industry, whether by introducing new services, creating platforms or developing technologies for niche markets.

In summary, it can be said that start-up solutions in the infrastructure sector are helping to modernize the industry and make it more efficient and sustainable. They promote innovation and enable companies to respond better to changing requirements and challenges.

Collaboration between start-ups and infrastructure companies can be difficult as there are a number of differences that need to be overcome. Here are some reasons why, in my experience, collaboration is sometimes difficult:

• Cultural differences: Start-ups and established infrastructure companies often have different corporate cultures. Start-ups are often agile, innovative and risk-taking, while large companies are generally more hierarchical and risk-averse. These cultural differences can lead to misunderstandings and conflicts.
• Different priorities and goals: Start-ups are often dependent on bringing their product to market quickly and growing, while established companies in the infrastructure sector are primarily looking for stability and long-term profitability. This can lead to different priorities and objectives.
• Bureaucratic hurdles: Established companies often have bureaucratic processes and approval procedures that can slow down or hinder collaboration. Start-ups are generally more agile and faster in their decision-making processes.
• Communication problems: Different communication styles and processes can lead to misunderstandings and difficulties in working together.
• Time restrictions: Large companies often have lengthy processes and approval cycles that can slow down the implementation of start-up solutions. Start-ups, on the other hand, often work faster and are more impatient.
• Willingness to take risks: Start-ups are often more willing to take risks and experiment, while established companies tend to be more risk-averse. This can lead to differences of opinion in the acceptance and implementation of innovative ideas.
• Fear of change: The infrastructure sector is often very traditional and conservative. New technologies and approaches are viewed skeptically, which can hinder the acceptance of innovations.

Despite these challenges, collaboration between start-ups and established companies in the infrastructure sector will become increasingly important in the future and can be of great benefit to both start-ups and established companies. As a rule, an open and partnership-based approach, clear agreements and intensive communication are required to overcome obstacles and work together successfully. For established companies, this opens up new opportunities for entering into new and promising business models in addition to optimizing the existing business content.

Enterprise Resource Planning (ERP) is important for companies because it helps to increase operational efficiency, improve control over business processes and support strategic decisions based on real-time data. An ERP system is sometimes referred to as the “central nervous system of a company”. Here are some reasons why ERP is important for companies:

• Integrated business processes: ERP systems integrate various business processes such as finance, procurement, production, sales and human resources. This enables a seamless flow of information and prevents data inconsistencies.
• Increased efficiency: By automating and standardizing processes, ERP helps to increase efficiency. This leads to shorter throughput times, lower operating costs and higher productivity.
• Better data accuracy: By combining all business processes in a single system, the likelihood of data errors and duplication of work is significantly reduced.
• Real-time information: ERP provides real-time information on the status of orders, projects, stock levels, finances and other key business figures. This enables good control of internal processes and a faster response to customer inquiries and market requirements.
• Improved reporting and analysis: ERP systems offer enhanced reporting and analysis options. Customized reports can be created to support decision making and business forecasting.
• Improved customer service: ERP systems enable a holistic view of customer relationships by linking information from sales, customer service and marketing. This supports personalized and effective customer service.
• Compliance and legal certainty: ERP systems can help to ensure compliance with legal and tax regulations by automating processes to meet these requirements.
• Scalability: ERP systems are often scalable and can keep pace with the growth of the company. This makes it easier to adapt to changing business requirements.
• Competitive advantage: The use of ERP can provide a significant competitive advantage by improving a company’s ability to respond quickly to market changes and provide high quality products and services.
• Cost reduction: By automating business processes and reducing errors, ERP systems can lead to cost savings.
• Better strategic decisions: With the availability of real-time data and analytics, companies can make more informed strategic decisions.

Overall, an ERP system enables companies to make optimum use of their resources, streamline business processes and maintain control over their business activities. This can lead to higher profitability, improved competitiveness and better customer service.