The reason why most strategies (80%) fail is execution. I would start by stressing this concept. For sure the PE firm identified a strategy to make the target grow before acquiring it. So, your action plan has two core macro-steps:
- Communicating the strategy and the change;
- Implementing the strategy.
In terms of communication, it’s important to make everyone in the company aware of the change and committed to it. You’ve to create the momentum and keep it high (eg., through interviews with colleagues, banners on the walls, newsletter, etc.)
At the same time, you have to start implementing your plan. On the one hand, by focusing on your clients, in order to increase revenues, on the other one, by focusing on internal operations and supply chain management in order to improve your cost structure.
This is the general framework I’d suggest you adopt. The specific actions will depend on the strategy proposed by the PE firm.
Best of luck!