When a deal closes, most buyers zero in on integration checklists: ERP alignment, finance systems, sales processes, compliance. On paper, it all looks tidy. In practice, it rarely plays out that way.
According to Debby Carreau, CEO, board director, and human capital expert, what determines whether a deal creates value isn’t how quickly systems are integrated, but how deliberately people are supported.
Debby has worked with founders, boards, and investors navigating acquisitions and leadership transitions. Her experience points to one truth: the success of the first 100 days is written in culture, trust, and leadership, not spreadsheets.
Key takeaways:
- Culture first: Integration starts with people, not systems.
- Transparency builds trust: Silence creates doubt; clarity creates confidence.
- Founders must adapt: Separate ego from enterprise when you’re no longer the sole decision-maker.
- People are the deal: Neglecting leadership teams can derail even the best strategic rationale.
1. Culture as the First 100 Days
Buyers often believe the fastest way to capture synergies is through systems and processes. Debby warns that focusing there first is a recipe for disappointment.
ERP migrations and reporting dashboards only work if the people behind them feel invested and supported. Even “small” changes, like switching email platforms, can trigger resentment if employees don’t trust leadership’s intentions. Larger changes, new reporting structures, shifts in decision-making authority, carry even greater risk.
“We spend so much time on integrating ERP systems and sales, but sometimes we forget about the culture and the people. We have to start with that.”
The lesson?
The numbers won’t add up if the people behind them don’t believe in the mission. Culture is the first milestone of integration.
2. Transparency Builds Trust When Deals Leak
Leaks are inevitable and when they happen, leadership has a choice: stay silent or speak with clarity.
Debby urges the latter.
Employees don’t expect full disclosure, but they do expect honesty.
Explaining why certain details can’t be shared builds more trust than vague reassurances.
“Be as transparent as possible. Tell them exactly what you can, and when you can’t, explain why… If you’ve built trust, they’ll believe you. If you haven’t, vague messages or silence are a hundred times worse.”
Without that openness, rumors spread fast, talent starts scanning for new opportunities, and the integration loses momentum before it even begins.
Transparency isn’t about telling all. It’s about telling why you can’t.
3. Founders Must Separate Ego From Enterprise
Many founders remain after selling their companies.
What often surprises them is how hard it is to move from being the sole decision-maker to part of a broader leadership structure.
Debby sees this tension often.
A founder’s identity is deeply tied to the business, making it difficult to distinguish between personal preference and strategic necessity.
“So many founders’ identity is tied up in the business. We tend to believe the way we’ve run it is the only way to be successful. The reality is everyone is replaceable, and there are always multiple paths.”
The discipline is in recognizing when objections are grounded in data and experience versus when they’re rooted in emotion or ego. Founders who navigate that balance stay valuable stewards of
Post-exit success for founders requires humility, adaptability, and clarity between self and enterprise.
4. Buyers Often Miss The People Side Of The Deal
In tech, acquirers lean heavily on product and financial metrics, while often underestimating the leadership team they’re inheriting. That, Debby warns, is a critical oversight.
Leadership teams carry institutional knowledge, customer trust, and cultural continuity. Losing even one key player can erode the strategic value of the deal.
“Really understanding the leadership team and what you need them to do is critical… For key players that are part of this transaction, it’s really hard to lose someone strategic.”
Due diligence should go beyond contracts and cap tables. It should include leadership appraisals, career trajectories, and an honest look at whether inherited executives align with the new operating model. Even simple questions, like whether leaders are willing to return to the office after years of hybrid work, can make or break retention.
While technology may justify the valuation, it’s the People that justify the outcome.
Final Word For Founders
Deals are remembered for their price tags, but their long-term success is written in culture, trust, and leadership.
Debby Carreau’s advice reframes acquisitions in people-first terms:
- Lead with culture, not systems. People are the multiplier.
- Communicate transparently. Explain the “why” when you can’t share the “what.”
- Adapt as a founder. Separate ego from enterprise.
- Value leadership as highly as product. It’s the human capital that sustains strategic capital.
For founders and acquirers alike, the lesson is clear: integrations don’t fail because the numbers were wrong. They fail because people were overlooked.
At TechExit.io, we explore these realities head-on. Exits aren’t random events; they’re built through foresight, discipline, and the trust you establish long before a term sheet arrives.
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