10 Things We Learned About Acquisition Entrepreneurship, Acquiring Businesses, When To Pivot, And Roll-Up Industry Selection By Interviewing Gia Cilento -Entrepreneur And Growth/Acquisitions Pro
Here is what my team and I learned from this interview: (These are notes from team members, writers, sometimes AI, and even listeners who submitted what i learned loosely edited and shared here) - If it seems a bit crude, you're reading our notes, so. yeah. -Ron
Concept 1: Start Small And Pivot
Starting small and pivoting is a key part of the entrepreneurial journey, and something that many successful entrepreneurs have done. It is important to start small and then adjust your strategy as you learn more about the industry or market. This is something that Gia Salento, an acquisition entrepreneur and co-founder of a couple of projects, knows all too well.
Gia has always had a passion for working for herself, and started doing so when she was just eight. She saw something in the back of a comic book and decided to pursue it, as she had a lot of younger siblings who needed milk and eggs. After spending some time in the corporate world, Gia found herself in the midst of the COVID pandemic. She decided to take the opportunity to start her own marketing agency, and found Billie Jean’s marketing approach refreshing.
Gia then found Roland Frazier’s program, Epic Ethical Profits in Crisis. This program resonated with her due to her strong belief in ethics and integrity, and she dove into it. She was involved in his second iteration of the online course, which was discussing the small business crisis due to the many baby boomers retiring at the same time. This inspired Gia to help small business owners figure out how to exit their businesses.
Gia and her partner Eric then acquired a company called Relevant Tools. They are still working with the original founder, but had to pivot the company due to the changing market. This is a great example of how starting small and then pivoting can be successful.
Starting small and then pivoting is a great way to get started in the entrepreneurial world. Gia Salento’s story is a great example of how starting small and then adjusting your strategy as you learn more about the industry or market can be successful. It is important to remember that it is okay to start small and then adjust as you go along.
Concept 3: Pivot To Find Success
Gia and her partner Eric Gesinski started a small email service provider. After 20 years of success, they noticed that the competition was becoming too steep and the product market fit wasn’t as strong as it used to be. So, they decided to pivot and focus on a micro niche of parks and rec departments. This allowed them to focus on a specific market, making it easier to create a product market fit.
Gia and Eric then started to dive into the client base, case studies, and how the product could be used. They used AI to help stimulate creativity and Eric’s tech knowledge was a great help. They then started to create videos and campaign collateral to promote their product.
The lesson to be taken from Gia and Eric’s story is that it is okay to start small and then adjust as you go along. You don’t have to have a perfect plan from the start. It is important to be open to change and to recognize when it is time to pivot. It is also important to have a great partner who can bring a lot to the table. Gia and Eric were able to find success by recognizing when it was time to pivot and by utilizing their respective skills.
Concept 3: Roll-Up Potential In Chocolate. Way Better Than A Tootsie Roll
One area that Gia and Eric have identified as having great roll-up potential is chocolate. Chocolate is a popular product that has great market potential. It is a product that can be sold both domestically and internationally. It is also a product that is easy to customize, allowing for a wide range of flavors and products.
To capitalize on this potential, Gia and Eric have identified a few key criteria. First, they are looking for an anchor company with a top line between 15 and 25 million. This company should have the potential for growth through bolt-ons, tuck-ins, and complementary businesses. Additionally, they are looking for companies between 1 million and 5 million top line that can offer retail space and other services. Finally, they are looking for companies that are interested in exiting within two to three years.
Gia and Eric have also identified potential partners outside the United States. These include companies in Canada, England, and Europe. They are open to having some bolt-ons and tuck-ins outside the United States, as long as it makes sense for the anchor company. This could include companies that are involved in bigger companies and can provide references, referrals, or potential buyers.
Overall, Gia and Eric have identified a great opportunity in the chocolate industry. With the right criteria and partners, they can capitalize on this potential and create a successful roll up. With their respective skills and experience, Gia and Eric are well-positioned to take advantage of this opportunity.
Concept 4: What Makes a Roll-Up Fun
Gia and the roll-up team she’s on started by researching over a hundred different industries, including chocolate. They narrowed down their list to the top five, and chocolate was one of them. Gia was surprised that they chose chocolate, but the profit margins were great and the industry was fragmented, meaning there were a lot of small players that hadn’t been gobbled up yet. In addition, they looked for an industry with a high profit margin and one that was difficult to exit.
The spreadsheet they started with had at least 20 slots for things to choose from. They took it a step further and narrowed it down to 30 slots. Gia also had a spot to test 15-20 different industries against each other. With the right criteria and partners, they can capitalize on this potential and create a successful roll up.
They realized that there were certain challenges in the chocolate industry, such as the logistics of shipping out of the local area and the supply chain. COVID had a big impact on the supply chain, and shipping the end product can be tricky too. Different elements of the chocolate can change the color and texture, and there is a lot of science involved in making sure that the chocolate is shipped correctly.
In conclusion, Gia and Eric have identified a great opportunity in the chocolate industry. With the right criteria and partners, they can capitalize on this potential and create a successful roll-up. With their respective skills and experience, Gia and Eric are well-positioned to take advantage of this opportunity.
Concept 5: Think Outside The Box For Success
Gia spent two years in a mentorship program with Jay Abrahams. A master of out-of-the-box thinking, marketing, cross-selling etc.. They learned a lot about running a business and making sales.
Thinking outside the box is an essential part of success. It requires us to look beyond the traditional and explore new ideas and possibilities. J. Abraham is an example of this. He is one of the best minds in business today and has a keen ability to discern what is going on in any given company. He is able to quickly come up with a plan and provide valuable advice.
Gia has also taken a unique approach to their advisory business. They are willing to work for equity or cash and equity combined, depending on the company and if it meets their goals. This is a great example of how thinking outside of the box can lead to success.
Gia has also identified the importance of having fun in their endeavors. They understand that if something is not enjoyable, it will not be successful. This is why they are looking for partners that they can enjoy working with.
Thinking outside the box can lead to success in many different areas. Whether it is finding a new opportunity, creating a unique advisory business, or simply enjoying the process, thinking outside the box can help us achieve our goals. Gia and Eric are a great example of this and have identified a potential opportunity in the chocolate industry. With their skills and experience, they are well-positioned to take advantage of this opportunity and create a successful roll up.
Concept 6: Create Content
Content curation for mergers and acquisitions (M&A) is an important part of the process. It is essential to identify the right sources of information and to be able to access them quickly and easily. Gia and Ron have identified this need and have created the Acquisitions Hub, a newsletter that provides content curation for M&A. The Acquisitions Hub is designed to provide readers with an easy way to access the latest news, podcasts, events, and social media accounts related to M&A.
The Acquisitions Hub is focused on the small to medium-sized business space and provides content related to deals below the 30 million dollar mark. The newsletter covers news, podcasts, and knowledge-based blog posts about the industry. It also provides readers with a list of people to follow on social media, as well as events related to M&A.
Reading content about an industry is an important part of the M&A process. It helps to identify trends, opportunities, and potential partners. It also allows readers to learn from the mistakes of others and to stay up-to-date on the latest developments in the industry. The Acquisitions Hub provides readers with an easy way to access this information, allowing them to make informed decisions.
Gia and Ron have identified a need in the M&A space and have created a unique solution to fill it. The Acquisitions Hub is an innovative way to provide content curation for M&A and is sure to be a valuable resource for readers. With their skills and experience, Gia and Ron have created valuable resources for readers and are well-positioned to take advantage of this opportunity.
Concept 7: Focus On Fewer Projects, Set Goals And Do Check-Ins
At the same time, Gia and the team are also aware of the importance of focus. They recognize that having too many projects can lead to feeling scattered and overwhelmed. She understands that focusing on fewer projects is essential for success.
To ensure focus, Gia and the roll-up team established a cadence of regular check-ins. During these check-ins, they discuss what they are doing that day, what they have accomplished, and what their goals are. They also set up a 12-week process where they evaluate their progress and reset their goals. This process helps to ensure that they are focused and on track.
Gia and the team also understand the importance of trimming down their projects and focusing on the ones that fit together well. This helps to ensure that they are not overwhelmed by too many projects and that they are able to make the most of their time.
Gia’s focus on fewer projects is a valuable lesson for anyone looking to achieve success. Having too many projects can lead to feeling overwhelmed and scattered. By focusing on fewer projects, it is possible to make the most of one's time and energy and to achieve success.
Concept 8: Stay Informed About Diabetes
Gia’s team has a product that was created by a client who facing diabetes, decided to create a recipe for diabetic-safe chocolate that actually tastes good.
Gia and her team’s diabetic chocolate creator client have a formula for Hemp infused chocolate that is both diabetic-safe and tastes good.
Diabetes is a serious condition that affects millions of people around the world. It is important to stay informed about diabetes in order to be able to recognize the symptoms and to take the necessary steps to prevent it.
Diabetes is caused by the body's inability to produce enough insulin or to effectively use the insulin it produces. The symptoms of diabetes include increased thirst, frequent urination, fatigue, weight loss, and blurred vision. If left untreated, diabetes can lead to serious complications such as heart disease, stroke, nerve damage, and kidney damage.
The best way to stay informed about diabetes is to talk to your doctor about your risk factors. Your doctor can help you understand your risk and can provide you with information about how to manage it. Additionally, it is important to make lifestyle changes to reduce your risk of developing diabetes. Eating a healthy diet, exercising regularly, and maintaining a healthy weight can all help reduce your risk.
It is also important to stay informed about the latest research on diabetes. This can help you understand the most up-to-date treatments and management strategies. Additionally, staying informed can help you understand the latest advances in diabetes research and treatments.
Finally, staying informed about diabetes can help you find support. There are many support groups and organizations dedicated to helping people with diabetes. These organizations can provide valuable resources and support to help you manage your diabetes.
Concept 9 Manage Anxiety With CBD Products
One of the latest treatments for diabetes is the use of CBD products. CBD, or cannabidiol, is a compound found in the cannabis plant. It has been found to have anti-inflammatory and antioxidant properties, as well as being an effective treatment for pain relief. Research has also found that CBD may help to reduce blood sugar levels in people with diabetes, making it an ideal treatment for those at risk of developing diabetes.
CBD products can also be used to help manage anxiety. Anxiety is a common symptom of diabetes and can be managed with the use of CBD products. CBD has been found to have a calming effect on the body and can help to reduce stress and anxiety levels. Additionally, it can help to reduce the physical symptoms of anxiety, such as increased heart rate and sweating.
CBD products are becoming increasingly popular as an alternative treatment for diabetes and anxiety. They are available in many forms, such as capsules, tinctures, and edibles. It is important to talk to your doctor before using any CBD product to make sure that it is right for you. Additionally, it is important to research the product to make sure that it is of the highest quality and that it is safe to use.
In conclusion, CBD products can be an effective treatment for diabetes and anxiety. They are becoming increasingly popular as an alternative to traditional treatments and can help to reduce blood sugar levels and manage anxiety. It is important to talk to your doctor before using any CBD product and to research the product to ensure that it is safe and of the highest quality. By taking the necessary steps to stay informed and to use CBD products responsibly, you can take control of your diabetes and manage your anxiety.
Concept 10 Automate Tedious Tasks
Automation is a great way to reduce the amount of tedious tasks that need to be done.
Automating tasks can help to save time, money, and energy, and can help to make life easier.
Automation can be used to automate manual tasks, such as data entry, or to automate complex tasks, such as software development.
Automation can also be used to automate mundane tasks, such as checking emails or scheduling meetings.
Automation can help to reduce the amount of time and effort needed to complete a task and can help to ensure that the task is completed accurately and efficiently.
Automation can also help to reduce the amount of errors that occur during a task, as well as reduce the amount of time needed to complete a task.
Automation can be used in a variety of ways and can help to make life easier and more efficient.
By automating tedious tasks, you can take control of your life and make it easier and more efficient.
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