The moment a PE firm closes an acquisition, the value creation plan becomes the operating bible. Revenue targets. Margin improvements. EBITDA milestones. The CEO knows exactly what the board expects.
What most CEOs don't have is the operating infrastructure to deliver it.
They inherit a business with informal systems, tribal knowledge, and financial reporting that's 30 days behind reality. The board wants weekly updates. The CEO is flying blind.
I've been brought into this exact situation multiple times — by PE firms, by portfolio company CEOs, and by operating partners who need someone to install the plumbing while they focus on strategy.
Here's the playbook.
Phase 1: Diagnostic (Days 1-30)
The first 30 days are about understanding the real operating state of the business — not the version that was presented during diligence.
Week 1-2: Shadow and Listen
- Sit in on every recurring meeting. Don't change anything yet. Just observe.
- Interview every department head. Ask three questions: What's working? What's broken? What would you fix if you had permission?
- Map the actual decision-making flow. Who really decides what? Where do things get stuck?
Week 3-4: Quantify the Gaps
- Audit the financial reporting cadence. How old is the data the CEO is seeing? (In most cases: 30-45 days old.)
- Identify the 5-7 KPIs that actually predict whether the value creation plan is on track
- Document the top 10 operational risks — the things that could derail the plan that nobody is tracking
The output of Phase 1 is a one-page Operating Reality Map: what the board thinks is happening vs. what's actually happening. This document is uncomfortable. It's also the most valuable thing you can produce in the first month.
Phase 2: Installation (Days 31-60)
Now you build the system.
The Weekly Operating Cadence
Install a weekly leadership meeting with a fixed agenda:
- Scorecard: 5-7 KPIs reviewed in under 10 minutes
- Rock updates: Quarterly priorities — on track or off track
- Issues: Identify, discuss, solve — in that order
This meeting replaces the ad hoc status updates, the "quick syncs" that take 45 minutes, and the email chains that nobody reads.
The CEO Dashboard
Build a dashboard the CEO can review in 5 minutes every Monday morning. It should answer three questions:
- Are we hitting our revenue targets?
- Are our margins holding?
- Is the team executing on the value creation plan?
The dashboard should update weekly (not monthly). If it can't, fix the data pipeline first.
The Board Reporting Package
Redesign the board package to tell a story, not just present numbers. Every board meeting should follow this structure:
- Here's where we are (scorecard)
- Here's what's working (wins)
- Here's what's at risk (issues)
- Here's what we're doing about it (actions)
PE boards don't want surprises. They want a CEO who can show them the truth — in real time — and explain what they're doing about it.
Phase 3: Acceleration (Days 61-100)
With the operating infrastructure in place, the focus shifts to execution velocity.
Identify the 3 Highest-Leverage Initiatives
The value creation plan probably has 15-20 initiatives. You can't execute all of them simultaneously. Pick the 3 that will have the most impact on EBITDA in the next 6 months. Everything else goes on the backlog.
Install Accountability
Every initiative gets an owner, a timeline, and a weekly check-in. No initiative should go more than 7 days without a progress update. If something is stuck, it surfaces in the weekly meeting — not in a quarterly board review.
Build the Talent Map
By day 60, you know who's performing and who isn't. By day 100, you should have a clear plan:
- Who stays and grows?
- Who needs coaching?
- Who needs to be replaced?
This isn't about being ruthless. It's about being honest. The value creation plan requires a team that can execute. If you don't have that team, no amount of operating rhythm will save you.
What the Board Needs to See
By day 100, the board should have confidence in three things:
1. Visibility
The CEO can show them — in real time — whether the business is on track. Not with a 40-page deck. With a one-page scorecard that tells the truth.
2. Velocity
The team is executing. Initiatives are moving. Problems are being surfaced and solved weekly, not quarterly.
3. Accountability
Every number has an owner. Every initiative has a timeline. Every risk has a mitigation plan.
The Common Mistakes
Trying to change everything at once
The first 100 days aren't about transformation. They're about building the foundation for transformation. Install the operating system first. Then use it to drive change.
Ignoring the culture
Every portfolio company has a culture — even if it's dysfunctional. If you try to impose a new operating rhythm without understanding the existing culture, you'll get compliance without commitment. And compliance without commitment doesn't survive the first quarter.
Over-reporting to the board
More data doesn't equal more confidence. The board wants clarity, not volume. Give them 5-7 KPIs, a clear narrative, and an honest assessment of risk. That's it.
Underinvesting in the CEO
The CEO is the linchpin. If they don't have the support, coaching, and operational infrastructure to succeed, the value creation plan is just a spreadsheet. The best PE firms invest in their CEOs — not just their companies.
The Bottom Line
The first 100 days set the trajectory for the entire hold period. Get the operating infrastructure right, and the value creation plan becomes executable. Get it wrong, and you spend the next 3 years in reactive mode — explaining misses instead of celebrating wins.
Operating Clarity isn't optional in a PE portfolio company. It's the difference between a successful exit and a write-down.