100 Day Plan Post-Acquisiton Resources
August 12, 2024
by a searcher from Cornell University in Steamboat Springs, CO 80487, USA
Does anyone have any recommendations of good books or resources about the first 100-days post-acquisition and any immediate steps/checklist to consider after taking over a small business?
from United States Military Academy in St. Louis, MO, USA
My advice Is to take post-acquisition in three steps - stability, sustainability and growth.
STABILITY - In this stage, you are watching and making sure that “the plumbing works”. Vendors are delivering supplies, orders are being fulfilled, employees are being paid, customers’ payments are landing in the right place. This is an observation phase. I wouldn’t advise making significant changes other than perhaps meeting rhythm amongst you and your leaders. This phase takes###-###-#### days. You need to see at least one monthly cycle.
SUSTAINABILITY - In this stage, you are making changes that will prepare the company for the next xx years. These could be things like facility upgrades, hiring new team members, exploring new products and meeting customers. How do we build a sustainable company that will push through the current shortcomings into the future? This stage is about casting vision for the team and putting some things in motion to achieving that vision. This step can take a year or three years. Depends on the company, the team, your leadership and the marketplace.
GROWTH - Only after you have stabilized the business and set up the company to continue to operate down the road can you focus on growth. This stage is where you pursue bigger customers or different market segments. I know this is the stage everyone wants to get to, but I just think it requires a couple very significant steps beforehand.
Throughout these stages, you must communicate to the team. Tell them about the stages and where you are currently. Share your vision and the steps that you are taking to get there. Involve them in the process. You shouldn’t (and probably can’t) do it alone.
I’m happy to help people who have acquired a business implement systems and build proper meeting rhythm. It’s what I do. If you want to learn more, set up a call with me by contacting my assistant Amy Boward at redacted Thanks!
in Los Angeles, CA, USA