The first 100 days: how commercial leaders drive value in PE-backed businesses

Stepping into a leadership role in a private equity-backed business is very different from joining a traditional corporate.

Expectations are high, timelines are shorter and commercial leaders are often expected to demonstrate impact quickly. Understanding why marketing leaders fail in PE-backed companies and how to avoid the wrong hire can also help new leaders establish the right priorities from day one.

For commercial leaders such as Chief Marketing Officers (CMOs), Chief Revenue Officers (CROs) and VP Growth leaders, the first 100 days should focus on delivering complete transformation.

This time is for building confidence, establishing credibility and demonstrating that the marketing function can contribute to the wider growth plan and investment thesis.

The most successful commercial leaders balance quick wins with longer-term transformation. They understand where value will be created, align closely with key stakeholders and build a roadmap that supports sustainable growth throughout the investment hold period.

While every business is different, the most successful CMOs, CROs and VP Growth leaders often approach their first 100 days in three phases:

• Days 1-30: Understand the business, build relationships and identify where value will be created
• Days 30-60: Deliver quick wins that build credibility while shaping longer-term transformation
• Days 60-100: Build a commercial roadmap that aligns the marketing function with the wider growth plan and investment thesis

Why the first 100 days matter in a private equity-backed business

PE-backed portfolio companies operate at pace. This focus on operational improvement and value creation.

Whether the objective is accelerating growth, improving profitability or preparing for an eventual exit, commercial leaders are expected to make decisions that contribute to enterprise value from an early stage.

That doesn’t mean delivering every initiative immediately. Boards, PE sponsors and operating partners typically understand that meaningful transformation takes time. But they do expect evidence that the right priorities have been identified, the marketing strategy supports the wider business objectives and there is a clear plan for delivering value.

The first 100 days often shape how a new commercial leader is perceived. Strong early decisions build confidence with stakeholders and create momentum that can carry through the rest of the investment lifecycle.

First 30 days: understand before you make changes

The temptation to make immediate changes can be strong, but the most successful commercial leaders spend their first month building understanding before introducing significant transformation.

The objective is to understand how the business creates value today, where growth opportunities exist and how the marketing function can contribute more effectively.

Typical priorities include:

• Understanding the investment thesis and wider growth plan
• Meeting key stakeholders, including the CEO, CFO, operating partner and leadership team
• Reviewing the current marketing strategy and commercial operating model
• Assessing pipeline contribution, revenue performance and customer lifetime value (LTV)
• Understanding how the marketing and finance functions work together
• Identifying immediate risks, opportunities and capability gaps

This period is also an opportunity to understand the organisation’s culture, decision-making processes and reporting expectations. Strong relationships built early often make later transformation significantly easier to deliver.

Days 30-60: identify quick wins while planning long-term transformation

Once a clear understanding of the business has been established, attention can shift towards creating momentum.

The strongest commercial leaders distinguish between improvements that can deliver immediate value and initiatives that require a longer-term transformation programme.

Quick wins might include:

• Improving pipeline contribution and lead quality
• Strengthening sales and marketing alignment
• Refining marketing metrics and reporting
• Optimising campaign performance
• Improving pricing or customer segmentation
• Increasing visibility of commercial performance through stronger board reporting

These initiatives help build confidence that the commercial strategy is moving in the right direction. At the same time, longer-term priorities should begin taking shape.

Building a more connected commercial organisation is increasingly important.

Long-term transformation may include:

• Evolving the commercial operating model
• Repositioning the brand
• Redesigning go-to-market strategy
• Strengthening technology and data capability
• Restructuring the marketing function
• Building a more scalable growth engine

The key is balancing immediate progress with initiatives that will continue creating value long after the first 100 days.

Days 60-100: build a value creation roadmap

By this stage, stakeholders should have a clear understanding of both your priorities and the opportunities ahead.

Rather than presenting a long list of disconnected initiatives, the focus should be on developing a commercial roadmap that links activity directly to value creation.

This roadmap should clearly define:

• Strategic priorities
• Ownership and accountability
• Investment requirements
• Success measures
• Short and medium-term milestones

For many private equity-backed businesses, this roadmap becomes an important reference point throughout the hold period, helping leadership teams align commercial investment with the wider investment thesis.

What metrics do boards and investors actually care about?

One of the biggest adjustments for commercial leaders moving into a private equity-backed business is recognising that success is rarely measured through marketing activity alone.

Boards and investors are typically interested in commercial outcomes and how marketing contributes to enterprise value.

While priorities vary between businesses, the metrics most commonly discussed include:

• Revenue growth
• Pipeline contribution
• Conversion rates
• Customer acquisition cost (CAC)
• Customer lifetime value (LTV)
• Forecast accuracy
• EBITDA contribution
• Enterprise value drivers

Strong board packs help translate these metrics into clear commercial insight. Rather than simply reporting activity, the most effective commercial leaders demonstrate how marketing investment is supporting growth, improving performance and contributing to long-term value creation.

Common mistakes during the first 100 days

Even experienced CMOs, CROs and VP Growth leaders can lose momentum if they focus on the wrong priorities.

Common mistakes include:

• Trying to change too much before understanding the business
• Focusing on marketing activity rather than commercial outcomes
• Failing to align the marketing strategy with the investment thesis
• Working in isolation rather than collaborating with the finance function and wider leadership team
• Waiting too long to communicate progress with stakeholders
• Measuring success using marketing metrics rather than business outcomes

Avoiding these pitfalls helps build credibility while creating a stronger foundation for sustainable growth.

It’s also worth recognising that every business is different. What delivers value in one portfolio company may not be appropriate in another. The most successful commercial leaders adapt their approach to the organisation’s maturity, growth ambitions and investment priorities rather than following a fixed playbook.

Looking beyond the first 100 days

Your first 100 days are an opportunity to demonstrate that you understand where value will be created and building confidence that the business is moving in the right direction.

The most successful CMOs, CROs and VP Growth leaders combine commercial judgement with disciplined execution.

Organisations focused on hiring sales and marketing leaders to drive PE-backed growth are increasingly looking for leaders who can:

• Balance early impact with long-term value creation
• Understand the investment thesis
• Align closely with stakeholders
• Create a marketing strategy that supports sustainable growth throughout the investment lifecycle

Whether joining a permanent role or stepping into an interim or fractional CMO position, many private equity-backed businesses use executive search to identify commercial leaders with experience delivering value creation in high-growth environments.

Get in touch today to discuss your career goals in private equity.