9-Fig CEO on Exits, Leadership, and THE most important asset in business

Hey there, and welcome back for another bite to chew on,

We hope you're having a fantastic weekend with your loved ones and are ready to spend the next 2 min and 16 seconds with us.

In this week's newsletter, we talk about learnings from our conversation with Simon Belsham from The Healing Company.

In case you don't know The Healing Company, it's a 9-figure roll-up of Health & Wellness companies such as Your Super and Chopra Global (by Deepak Chopra)

If you haven't yet given the full episode a listen, we highly recommend you listen to it right after this email. Click here to listen.

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Now back to the newsletter…

What The Healing Company looks for when acquiring brands

The best way to figure out what a potential acquirer is looking for is by asking them and then building with that in mind.

So that's what we did (on behalf of all of us)...

Here are the three main things Simon Belsham looks at when evaluating the attractiveness of a company.

1) Product, product, & more product

In today's environment, plenty of sh!t products only exist for a few years and then slowly die out.

And…

No matter how good you are at marketing or operations… if you have a lousy product, you'll be in for a tough ride.

Besides that, it has also become more accessible than ever for competitors to copy and paste your product.

Therefore, you need some form of "protection" for your brand.

This can come in many forms, such as the uniqueness of your brand identity, patents, uniqueness of formula, etc.

2) Mental and physical availability

The second factor that Simon looks at is whether they can help increase the mental and physical availability of the brand.

For example, this could be through a retail or distribution strategy.

According to Simon, every consumer brand should go after an omnipresence strategy to maximize their mental and physical availability to the end consumer.

3) Founder team & alignment on the future vision

We won't go too in-depth with this one, as it's common sense, yet still super important

Collaboration vs Setting Direction

One of the hardest things to balance as a leader/founder is figuring out when you should collaborate with your team and find a "consensus solution"

And…

When you should listen to their input but still say "This is what we're going to do, like it or not"

It's a tricky balance to manage because even though we'd all want to, we can't run a business entirely on a "consensus solution"

As a leader, your job is to steer the ship in the right direction.

And sometimes, that means making unpopular choices.

So here's a Sunday bite to chew on:

Are you making too many consensus decisions in your company?

Your most important asset

Every ambitious person, whether an entrepreneur or not, can quickly get caught up in pursuing more, more, more.

And as a result…

They destroy their greatest asset (themselves) and achieve less.

The lesson from our conversation with Simon is that the most important thing to remember is always yourself…

Because

If you don't sleep well, you can't perform at your best

If you don't exercise enough, you can't perform at your best

If you don't eat well, you can't perform at your best.

So, let this be your reminder to look out for yourself and your health so that you can actually achieve more at work.

Tool of the week

If you haven’t been asleep the last year or so, you’ve probably heard that your brand needs a Mobile App

But what’s all the hype about?!

It’s simple…

A Mobile App helps you create a stronger relationship with your customers & give them a better shopping experience…

Which ultimately leads to a higher LTV (A lot higher. In fact 2x higher for Obvi)

Which is what we all want, right?

So stop beating around the bush. The first step of a good retention strategy starts with a Mobile App.

Our preferred provider is TapCart, who’s offering you up to 2 months free if you mention that we sent you

PS: All sponsors that we recommend are companies we use ourselves at Obvi, and companies who we’ve seen great results with. We will never, and have never recommended a company we haven’t used ourselves