Budget for the transition before you sign the LOI
Most acquisition budgets cover the deal and stop at closing. The first 90 days after close are where many first-time owners lose people, momentum, and money, and by then it's too late to budget for them. Here's what I'd plan for while you still have negotiating power: 1. Seller knowledge transfer. Write down what the seller does every week, who they talk to, and which decisions only they make. Tie the transition period in the purchase agreement to getting that handed over, not just to a number of months. 2. Key employee retention. Figure out the two or three people the business can't lose. Plan how and when you'll meet them, and what you'll say, before announcement day. 3. Your first 90 days. Your job is to be a sponge and absorb. Resist changing things early. Listen first, fix what the team wants fixed, and build trust before you change the way things are done. 4. Outside help, budgeted up front. Whether it's a transition adviser, a fractional leader, or extra time from the seller, put it in your deal model now. It's much harder to add after you've used up your cash cushion. We built the ReWild Transition System to help new owners through exactly this window: redacted What's one thing you'd add to this list from your own deal? Matt