Scaling Strategy #29 | M&A as a Growth Strategy
Scaling Through Acquisition: The 3-A M&A Growth Framework
Sam Palazzolo | Real Strategies. Real Results.

Ever wonder how the biggest companies seem to scale overnight?
Here’s a stat that should make you pause: up to 90% of M&A deals fail to deliver expected value—yet the companies that get it right outperform their peers by 12–18% in total shareholder return over five years (Christensen et al., HBR; McKinsey & Co.).
So why the disparity?
Most leaders jump to the deal… but skip the strategy.
A few weeks ago, a client came to me excited—borderline euphoric—about a company they were planning to acquire. “It’s a steal,” they said. “Same industry, solid margins, motivated seller.”
But one question stopped them cold:
“How does this get you closer to your long-term vision?”
They had no answer. We pulled back, re-aligned their strategy—and ultimately found a better-fit target with higher synergy and lower integration risk.
That’s the difference between buying a business and scaling your business.
The 3-A M&A Growth Framework
If you’re considering M&A as a growth strategy, here’s a proven framework I developed to guide your approach:
1. ALIGN
Start by defining why M&A is the right path for growth.
Ask: Does this support our long-term vision?
Misaligned acquisitions don’t scale—they sink.
2. ASSESS
Dig deeper than revenue and headcount.
Evaluate strategic fit, customer overlap, cultural alignment, and long-term value creation.
Ask: Where’s the real value beyond the financials?
3. ACTIVATE
Deals don’t create value—execution does.
Integration, governance, and post-close tracking are what determine M&A success.
Ask: How will we lead through integration and scale post-close?
This 3-A model draws on insights from BCG’s M&A Playbook and Deloitte’s M&A Lifecycle Model, restructured for leaders looking to scale, not just acquire.
Real World Example
Let’s say you’ve tried growth via acquisition before—but the results were underwhelming.
Maybe the integration flopped. Or the team never clicked. Or the revenue synergy was more hope than reality.
Start here:
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Revisit your strategic growth goals. Does M&A still make sense?
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Rebuild your screening process: Evaluate targets through the lens of customer, product, and team synergy—not just size or valuation.
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Commit to post-close success: Build an integration roadmap before the ink is dry.
Most importantly: Don’t outsource your strategy. You can get external help—but the vision has to come from you.
Real Strategies. Real Results.
M&A is one of the most powerful scaling tools available—but only when deployed with clarity, discipline, and post-close leadership.
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Sam Palazzolo
Real Strategies. Real Results.
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