Protecting Assets, Media, Roll-Ups & a DEEPER Dive Into the Basics
This Week On How2Exit podcast Chatting With An Attorney About Protecting Assets, Conversations With My Media Partner on Content and Her other Project a Chocolate Roll-Up. DEEPER into the Basics.
Together with ITX M&A Marketplace - click here to sell your MSP Company (Sponsor)
Gia Cilento is an acquisition entrepreneur and a co-founder of a couple of projects that Ron Skelton is working on. In this conversation, Gia shares her origin story and how she got into the space of acquisition entrepreneurship. She started her own project when she was only 8 years old and wanted to make some money for her family. She eventually made her way into corporate and then book publishing and also started her own marketing agency. She loves the challenge of being deadline driven and enjoys working for herself.
Gia Cilento was looking for ways to pivot her business during the Covid-19 pandemic and found Billy Jean's marketing and Roland Frasier's Epic Ethical Profits in Crisis program to be inspiring. Gia and Eric partnered up to acquire a company called Relevant Tools, which had been an email service provider for around 20 years. The company was in distress and Gia and Eric had to figure out how to pivot to make the company competitive in the saturated market of email marketing SaaS companies. They eventually settled on a micro niche of parks and rec departments, focusing on membership management and event registration. Gia feels like they have come up with a great solution and that there is not a lot of competition in this niche.
Ron and Gia are discussing Gia and a separate team’s project involving chocolatiers and chocolate makers. Chocolatiers create Bon Bon's from bars and nuggets that the chocolate makers create from raw cacao. Gia explains that the chocolate makers create the bars and nuggets, which are then melted down and turned into Bon Bon's by the chocolatiers. They also create their own recipes for their specialties, adding different flavor and ingredients to their creations. Ron and Gia then joke about the difference between a Tootsie Roll and real chocolate.
Ron and Gia chat about The Hub Newsletter and why they are building it. Listen Here: (49:00)
Read our notes on this interview: 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
For an Awesome source of information and great articles on buying, growing, and selling a business, check out: Acquisition Aficionado Magazine’s Latest Issue (Sponsor)
Joe Prencipe is an M&A Attorney who was originally interested in litigation but ended up working in the field of M&A. He started at the number one international M&A law firm, Freshfields Bruckhaus Deringer, which specializes in cross-border, massive international transactions. Joe enjoys the sophisticated and complicated nature of the work, and the transactions are often in the news.
Joe has lived in Japan and speaks Japanese, and currently runs his own M&A firm, along with owning some businesses. He finds there is a lot of value in his experience in M&A for smaller deals, due to his background of working with Wall Street banks and private equity. His focus is now on M&A with some fun side projects.
Joe Prencipe advises that when considering the sale of a business, an M&A attorney should be consulted from the beginning of the process. An M&A attorney is not the same as a general business attorney; they have much more expertise in the area. An attorney should be consulted to act as a sounding board and provide guidance and advice on the process of selling a business. They can also provide information on what has caused people to fail at selling their business in the past. There is no need to pay substantial fees to an attorney until the agreements need to be drawn up.
Listen Here: (58:46)
Read our notes on this interview: 11 Lessons We Learned About Protecting Assets and Risks in M&A by Interviewing Joe Prencipe
Attention Business Brokers, Advisors, Acquisition Entrepreneurs, and SMB Owners!
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Founding Member Shout-Out
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This week’s “DEEPER” Dive: A Return To The Basics. I asked Artificial Intelligence To Teach Me How To Buy A Business, and The Results…. Wow…
I’m sure you’re thinking, how can basics be DEEPER, If I were sitting on your side of the keyboard, I’d be thinking that exact thing.
At the time, I created the interview with AI. (a combo of Jasper and ChatGPT), I had interviewed over 100 experts, authors, lawyers etc, and over 250 business owners.
I created the interview as a test, now I’ll admit, I got great results partially, if not greatly, because I knew enough to ask the right questions. The result, well I’ll let you see for it for yourself.
Let’s just say, I’ve copyrighted it and I’ll likely be publishing it as a book after a bit of editing.
P.S. I took the results and had another A.I. fake my voice and give the ChatGPT a voice, you can watch or listen here.
E84: Can AI Replace Mentors & Gurus - Asking ChatGPT to Teach me How To Buy A Business - How2Exit
Read the full article (draft of a 40 plus page book) with a paid account by the Author, Ronald Skelton click the share below and tag me in your share to get a paid account for a week, refer 3 people (DM me who you got to sign up), and get a paid account for 90 days. Get 10 signups - FREE FOR A YEAR.