Have you checked out our other podcast Infinite Shelf yet? Here is a taste of our latest episode: Succession IRL. Listen in with hosts Ingrid Milman Cordy and Orchid Bertelsen and don't forget to subscribe!
There comes a time when every DTC company hits the pause button and asks, “What’s next?” Cue the Patrick Bateman and Kendall Roy mergers and acquisitions quotes. If acquisition does end up being an option, when you cede power as a founder, will you be happy with what the new parent company decides to do? Will your legacy live on?
Secret Sauce
- {00:11:11} “When we're talking about multinational corporations or larger corporations, usually you got to make sure that you've got a healthy business that you can just put your resources against in order to grow.” - Orchid
- {00:16:28} “There's a reason why acquisitions don't have the most fantastic reputation for succeeding post-acquisition. A lot of that is because too much emphasis is put on the acquirer to solve those problems after the fact. My advice is to have the founder or have the people who are running that DTC business think about what is that secret sauce of the company.” - Ingrid
- {00:17:53} “If you're a founder and you're selling, what you also have to be emotionally ready for is if the parent company starts to make strategic decisions about how to use the brand that you wouldn't necessarily agree with because it's not yours anymore. Post-acquisition is not yours anymore. That's why they paid you the money.” - Orchid
- {00:25:44} “With growth comes mass, more mass opportunities. You have to be more approachable, you have to be more accessible, unless you are a true luxury good.” - Orchid
- {00:32:03} “The people that you hire to help you be acquired, is another huge, important decision. They have to know your business and see the vision and see the purpose and be your champion just as much as the founders.” - Ingrid
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