fter a long acquisition process, successful #smallbusiness buyers step into the exciting and high-pressure world of business ownership. They will make important decisions about who to hire, how fast to move, and how to start enacting their vision for the newly-acquired business. Here are 6 key processes new CEOs will need to manage:

1) Acquisition entrepreneurs often must make changes to financial management early in their tenure. Possible changes include modernizing financial accounting, shifting a company’s basis of accounting, and identifying new KPIs.

2) Ownership transitions are challenging when it comes to personnel decisions. Owners will assess the capacity of current staff, identify areas to change, and hire new employees.

3) With personnel and operating changes come challenges to a company’s culture. The new owner needs to be the culture-setter in their organization. Even strong leaders benefit from the support of a cultural transition consultant, a CEO coach, and/or a change management expert.

4) A separate but similar responsibility involves strategic planning. Founders frequently embark on a “listening tour” to learn more about the business from current employees. To increase employee buy-in, work collaboratively and listen for feedback when implementing new ideas.

5) New owners will need to assess the company’s technical capacity, evaluate numerous tools, and implement new systems. While leveraging new technology can be a key piece of a buyer’s growth thesis, this strategy can also be challenging, especially if existing employees are resistant to change.

6) Business owners also need to assess the strength of a company’s brand, including its logo, online presence, and website. This involves a separate set of technology and design investments.