You can buy a profitable business and still inherit a people problem that threatens everything you just acquired. As a 20-year founder and operator expanding into Entrepreneurship Through Acquisition (ETA), I was asked to share my unique perspective with a group of ETA searchers this week about People, HR and Culture. I've spent two decades building businesses while advising executives and organizations on leadership, talent retention, and organizational culture. Now, as I expand my own portfolio through acquisition, I'm bringing those experiences together. One thing I know for certain: The financials tell you what a business has produced. The people and culture help determine whether it can continue producing those results after the owner exits. Whether you're searching, conducting due diligence, preparing to close, or navigating your first year of ownership, there are critical questions worth asking: 1. Key-Person Risk: Who holds the relationships, knowledge, and expertise that keep the business running? 2. Recruiting: Can the company attract the talent required to sustain operations and support growth? 3. Retention: Are compensation, leadership practices, and employee experiences strong enough to keep mission-critical employees? 4. Culture: What made the business successful under the founder, and what needs to be preserved, evolved, or replaced under new ownership? 5. Leadership Capacity: Are you buying a company with a capable management team, or one that will require you to become the solution to every people problem? These are more than HR questions. They're questions about cash flow, operational continuity, scalability, and enterprise value. Im looking to connect with other searchers, acquisition entrepreneurs, and newly acquired business owners who are navigating the intersection of people, performance, and ownership transition. I'm both a fellow entrepreneur on the ETA journey and a resource for those seeking to build businesses that can thrive beyond their founders. What has been your biggest people-related challenge during the acquisition process or after taking ownership?