How to Lose a Business in 10 Days
A cautionary tale for the newly crowned business owner
There’s something intoxicating about buying a business.
The keys.
The EFTPOS machine.
The “Congratulations!” text from your accountant.
You walk in feeling like the lead in your own corporate rom-com. You’ve signed the contract.
You’ve got the vision board. You’re ready to make it yours.
And then… You accidentally lose it in ten days.
Not because the numbers were wrong.
Not because the market collapsed.
But because ego walked in before strategy.
Here’s how it happens — and how to make sure it doesn’t.
Day 1: Boss Mode Activated (Before You’ve Earned It)
Nothing says “new owner energy” quite like walking in and rearranging the furniture —
metaphorically and literally.
Cardinal Rule #1: Get to know the staff before you try to lead them.
Your team isn’t just payroll. They are the memory of the business. They know the
customers, the suppliers, the quirks, the shortcuts, the history.
If you go in asserting dominance before building rapport, you don’t gain authority — you
lose trust.
Leadership isn’t announced.
It’s earned.
Spend the first week listening more than speaking. Ask questions. Learn names. Understand
dynamics. Be human before you’re hierarchical.
Day 2: Assuming the Numbers Tell the Whole Story
Settlement is done.
You’ve seen the P&Ls.
You’ve calculated the margins.
You think you understand the business.
But here’s the trap.
Cardinal Rule #2 (the real one): Don’t manage only from the spreadsheet.
Numbers tell you what happened.
They don’t tell you why.
Why does that one customer order triple on Thursdays?
Why does that supplier give priority stock?
Why does the team roster look “inefficient” but somehow always work?
When new owners manage purely by margin in the first week, they cut muscle thinking it’s
fat.
Before you optimise the numbers, understand the story behind them.
Day 3: Rebrand. Renovate. Reinvent. Repeat.
You bought it. So naturally… you want to change it.
New signage.
New uniforms.
New menu.
New systems.
New vibe.
Slow down, Susan.
Cardinal Rule #3: Don’t change anything until you understand why it exists.
Every process, every supplier, every “we’ve always done it this way” has a backstory.
Sometimes it’s outdated. Sometimes it’s brilliant.
But you won’t know which is which if you haven’t sat in the seat long enough.
Observe first. Adjust later.
Day 4: Cutting Costs to “Make Your Mark”
Nothing feels more powerful than trimming expenses in your first week.
Cancel this.
Renegotiate that.
Drop the “unnecessary” subscription.
But here’s the danger.
Cardinal Rule #4: Don’t confuse cost-cutting with leadership.
Some expenses aren’t costs — they’re glue.
That extra staff member on a busy shift?
That long-standing marketing spend?
That slightly higher-priced supplier who never lets you down?
Sometimes the cheapest decision is the most expensive long-term.
Efficiency should come after understanding — not before.
Day 5: Making It “All About You”
There’s a difference between evolution and takeover.
Cardinal Rule #5: Don’t rush to personalise everything.
Customers didn’t fall in love with you.
They fell in love with the business.
Its tone.
Its product.
Its culture.
If you storm in stamping your identity everywhere — especially in established brands
customers can feel displaced.
Not everything needs your signature.
Sometimes stewardship is more powerful than ownership.
Day 6: Supplier Swap-Out Frenzy
“I’ve got a better guy.”
“My friend can do it cheaper.”
“I prefer this product.”
Cardinal Rule #6: Listen to customer behaviour, not just your personal taste.
Suppliers are relationships, not just invoices. They often carry loyalty, credit history, priority
service and negotiated terms built over years.
Change suppliers recklessly and you risk:
Product inconsistency
Delayed deliveries
Damaged credit accounts
Confused customers
Data first. Emotion second.
Day 7: Forgetting Who Pays the Bills
Cardinal Rule #7: Win over the customers like you’re dating them.
When ownership changes, customers notice.
They’re watching:
Is the quality the same?
Are the staff still happy?
Does it feel different?
This is the time to overdeliver.
Be visible.
Be gracious.
Be present on the floor.
Handle complaints personally.
Respect is not transferred in a settlement statement.
It’s earned daily.
Day 8: Paying Suppliers “Whenever”
Want to quietly destroy credibility?
Miss supplier payments.
Cardinal Rule #8: Pay early, or at the very least on time.
Suppliers talk. Credit departments remember. And your reputation in an industry forms
quickly.
Strong supplier relationships mean:
Better terms
Priority stock
Flexibility when cash flow tightens
Access to new products
Your first few months set the tone. Make it one of professionalism.
Day 9: Ignoring the Culture Shift
The fastest way to destabilise a business?
Create uncertainty.
When staff don’t know:
What’s changing
What’s staying
Whether they’re secure
Morale drops. Productivity dips. Gossip grows.
Communication is oxygen in a transition.
Without it, everything suffocates.
Day 10: Forgetting You Bought a System — Not a Blank Canvas
Here’s the truth no one glamorises:
You didn’t buy a startup.
You bought a functioning ecosystem.
There is a rhythm to an established business. A pulse. A pace.
Your role in the first 90 days is not to redesign the heartbeat.
It’s to stabilise it.
Growth can come. Innovation can come. Expansion can come.
But not at the expense of foundations.
The Real Way to Keep a Business After You Buy It
If you want to avoid losing it in ten days:
Lead softly before you lead strongly
Observe before you optimise
Protect culture before you impose personality
Respect existing relationships
Overcommunicate
Honour financial commitments
Buying a business is exciting.
Keeping one?
That takes humility.
And if there’s one thing I’ve learned from watching hundreds of transitions…
The businesses that thrive aren’t taken over.
They’re cared for.