De la diligence raisonnable au jour 100 : notre guide pratique de création de valeur

The first 100 days set the tone for any investment. At Icône Capital, we focus on a short list of moves that protect cash, align teams, and accelerate growth—without overwhelming the organisation.

Why a 100-Day Plan?

A concise 100-day plan reduces uncertainty, builds momentum, and anchors everyone on measurable outcomes. Our framework has three phases:

1. Pre-Close: focus the diligence on the few levers that matter.
2. Day 1–30: stabilise and align governance, data, and cash.
3. Day 31–100: execute targeted growth and efficiency initiatives.

Pre-Close: Focused Diligence (No Boil-the-Ocean)

• Confirm the thesis: unit economics, churn/retention, pricing power, capacity constraints.
• Value-creation shortlist: 5–7 initiatives with owners, milestones, and rough EBITDA impact.
• Risk register: 8–10 operational, regulatory, and FX risks with mitigation owners.
• Integration light: capture a baseline for reporting and systems; defer heavy capex until the data supports it.
• People view: identify the top team’s strengths, gaps, and immediate retention needs.

Deliverables by signing: a one-page investment thesis, a draft 100-day plan, and a preliminary KPI dashboard.

Day 1–30: Stabilise & Align

Day 1 is about confidence: the business continues smoothly, staff feel informed, and cash is controlled.

• Governance on rails: set the board calendar and committee charters; align decision rights (who decides what and when).
• Single source of truth: stand up a weekly KPI dashboard covering sales pipeline, cash, production/service yields, and customer health.
• Cash discipline: 13-week cash-flow forecast; procurement thresholds and payment approval matrix; inventory focus.
• People clarity: confirm roles for the top team; issue retention letters for critical talent; schedule weekly exec reviews.
• Pricing hygiene: map SKUs by margin; freeze unprofitable discounting; introduce guardrails for special terms.

Communication cadence: a Day-1 town hall, weekly exec meeting, and a monthly business review with the board.

Day 31–100: Execute the Plan

With data and cadence in place, we activate the value levers agreed pre-close.

• Sales operations: define ICP (ideal customer profile), tighten CRM stages, set stage-by-stage conversion targets, and run weekly pipeline reviews.
• Pricing & mix: introduce price ladders, minimum order values, and SKU rationalisation to lift contribution margins.
• Cost & yield: renegotiate top suppliers, reduce scrap/rework, and fix bottlenecks that limit throughput.
• Working capital sprints: DSO reduction (collections playbook), safety stock rules, and slow-moving inventory actions.
• Tech enablement (light): practical CRM/ERP improvements that improve data capture before full system replacements.
• Pragmatic ESG wins: safety checklist, an energy audit with <24-month payback items, and a vendor code of conduct.

What Success Looks Like by Day 100

• Visibility: on-time monthly pack with reliable KPIs; no surprises on cash.
• Focus: 2–3 growth bets funded and measured; 2–3 efficiency initiatives tracking to run-rate impact.
• Accountability: each lever has a named owner, milestones, and an impact estimate tied to incentives.

The Operating Pack We Install

• Monthly business review: P&L, cash, balance sheet, variance analysis, and a one-page dashboard.
• Quarterly strategy review: progress on the investment thesis, risks, and resource allocation.
• Board materials: decisions required, options considered, and clear recommendations.

Note: Timely and simple beats perfect and late. We prioritise decisions supported by reliable data.

When a Build-Up Makes Sense

Selective M&A can compound value—when it reinforces the core.

• Shared customers or inputs: cross-sell potential or purchasing scale.
• Operational headroom: the team can integrate without breaking day-to-day execution.
• Cash profile: integration costs and working-capital spikes are planned and funded.
• Simple integration thesis: one or two synergies you can measure within 12 months.

Example 100-Day Milestone Map

How Icône Capital Partners With Operators

• Liquidity with continuity: smooth transitions that protect the business and the founder’s legacy.
• Hands-on support: pricing, sales ops, cash discipline, and operating efficiency—implemented with the team.
• Governance that scales: clear roles, cadence, and an operating pack that drives decisions.
• Regional growth: pragmatic expansion across West Africa when the playbook and leadership are ready.

Prochaines étapes

Interested in a confidential review of your Day-100 priorities?

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