New CEO Mark McLaughlin resisted board pressure for a quick IPO, arguing that going public is a starting line, not a finish line. He first focused on hiring key leaders and building scalable systems to ensure the company could operate successfully in the public markets, not just survive the IPO event.

PE sponsors and CEOs often define their "vision" as a revenue or EBITDA target. This is an output metric, not an inspiring vision. High-performing CEOs create a compelling narrative about the business's value proposition and purpose that motivates employees and resonates with customers. Financial success is the result of executing this vision.

PE sponsors can accelerate value creation by telling new CEOs that some new executive hires are expected to fail. This pre-approval removes the CEO's fear of appearing to have failed themselves, encouraging them to make necessary talent changes faster and more decisively.

The role of a CEO at the empire-building stage shifts from operations to allocation. An effective framework is to spend 40% of their time on attracting and retaining A-player talent, 40% on strategic capital allocation, and the final 20% on painting and reinforcing the long-term company vision.

Contrary to the popular advice to 'hire great people and get out of their way,' a CEO's job is to identify the three most critical company initiatives. They must then dive deep into the weeds to guarantee their success, as only the CEO has the unique context and authority to unblock them.

In Phase 1 operational improvements, a Pareto analysis reveals that the majority of value comes from three key areas: aligning and incentivizing the management team, rationalizing the revenue portfolio to focus on profitable segments, and optimizing the operational footprint.

Delaying key hires to find the "perfect" candidate is a mistake. The best outcomes come from building a strong team around the founder early on, even if it requires calibration later. Waiting for ideal additions doesn't create better companies; early execution talent does.

The firm distinguishes between speed (magnitude) and velocity (magnitude plus direction). Founders are encouraged to focus on velocity, ensuring the entire team is moving quickly *in the right direction*. This prevents wasted effort where mere motion is mistaken for progress, a common trap in turbulent markets.

The value creation process begins long before the deal closes. The 3-6 month due diligence period is used for weakness identification, strategic planning, and recruiting key personnel. This makes the post-acquisition 100-day plan a seamless continuation of pre-close work, rather than a fresh start.