Artwork for podcast Future of Agriculture
FoA 330: 10 Former Guests That Have Been Acquired...and what we can learn from them
28th September 2022 • Future of Agriculture • Tim Hammerich
00:00:00 00:47:57

Share Episode

Shownotes

Visit our sponsor: http://www.CalgaryAgbusiness.com

Over the past couple of weeks, two former guests of this podcast, Vence and TeleSense, have announced that they have been acquired. This prompted a random idea in my head to do an episode called 10 former guests that have been acquired. But I first wondered: have there even been ten yet? A quick scan of previous episodes and a little bit of Googling revealed that there have been at least 10 that have been acquired in some form or fashion.  So I spent a day going back through and re-listening to each of their episodes, researching when they were acquired and by whom, and trying to pull out insights that might indicate what about these companies allowed them to get to the finish line so to speak. That’s what I have to share with you today. 

Vence, acquired by Merck Animal Health

TeleSense, acquired by UPL (Decco Post Harvest)

SWARM Technologies, acquired by SpaceX

Harvest Profit, acquired by John Deere

PastureMap, acquired by Soilworks Natural Capital

FarmlandFinder, acquired by EasyKnock and Growers Edge

CropMetrics, acquired by CropX

CoverCress, acquired by Bayer 

Joyn Bio, acquired by Gingko Bioworks

Cainthus, acquired by Ever.Ag

Insights I pulled from this episode after the obvious of have a great team, a big market, and the tailwinds of trends in your favor:

  • Be hyper focused on customer success
  • Find a model that includes immediate ROI or a quick win
  • Find strategic investors or partners or both as early as possible
  • Be obsessed with getting the product right
  • Create a model for rapid learning and iteration
  • Acknowledge the challenges that lie ahead and be open about them
  • Understand the emotions behind the customer. It’s a business decision, sure, but it’s also a personal decision
  • Try to find models that open up new revenue streams for customers instead of just trying to pitch them on small cost reductions or yield bumps
  • Getting it right takes time - find patient capital and partners
  • You don’t need to disrupt everything, start with a manageable focus where you can really add value
  • Marketing and PR aren’t hacks for lack of traction, focus on the customer and product/market fit. 

That’s my list, what’s your’s? I want to know your takeaways from these 10 companies.  Tag me on Twitter or LinkedIn with your perspectives, or you can always email me at tim@aggrad.com.

Follow

Links

Chapters

Video

More from YouTube