Day One Speech?

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May 02, 2025

by a searcher from University of Notre Dame - Mendoza College of Business in Frisco, TX, USA

My business partner and I are closing on our first acquisition this month and have started to think about the "day one speech". The company has a large amount of employees but only maybe 12 that ever interact with the owner/work in the office not out in the field. Given the owners close relationship with those employees, she wants to tell them all a couple of days before we arrive so she has time to assure them everything is going to be alright. I have mixed emotions on this but wanted to gather thoughts from others on if this is a good or bad idea. I welcome any advice on how your first few days went, things you would do differently etc. Thanks! EDIT: The deal will have already closed so there will be no chance this negatively impacts the closing process. We are signing docs mid month with an effective date of end of month for ease of accounting transition so there is a week or so of limbo before we step in as CEO to start the new month.
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Reply by a searcher
from Harvard University in New York, NY, USA
People are concerned about their jobs in these sorts of moments. To the extent possible, reinforce that the reason you bought this business is because you saw the potential in it - which should translate into more roles and better opportunities for growth and advancement over time. As far as timing, whenever there was big news (good or bad), I personally tried to push for town halls/meetings as soon as possible - I've found that news (either good or bad) translates in funny ways down reporting chains and closing the gap with fact and openness has led to good outcomes for me.
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Reply by a searcher
from The University of Texas at Austin in Houston, TX, USA
I have done these speaches multiple times and seen it done as many times. I believe they are very important for morale and to not start the rumor mill on day one. My advice, say very little, be upbeat, let everyone know that no major changes are going to happen today, and that you are open and receptive to the knowledge that you are going to receive by running this great organization. Make sure you emphasize that you believe the company is great and that is why you purchased this specific business. Talk as little as you can during the first week at least, and listen as much as possible. Nothing here is groundbreaking, but it is hard. It is hard to be quiet when you want to fix or improve everything. I still feel buying the right business is much harder than running a business. Congrats and best wishes on a prosperous future.
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