About this episode
Despite having distribution at Whole Foods, Kroger, and Safeway, salsa-maker Julie Nirvelli found herself on the brink of bankruptcy. She sent a last-ditch email to four potential acquirers – and you won’t believe what happened next.
Julie Nirvelli started selling her homemade tomatillo salsa in farmer’s markets and quickly translated her grassroots success into contracts with Whole Foods, Kroger, and Safeway that saw her salsa on the shelves of more than 2000 stores.
But things were not as rosy as they appeared.
Nirvelli sold through distributors who took their time to pay and often penalized Nirvelli with unexplained charge backs. Despite the growth of her product, Nirvelli found herself pinched and on the brink of bankruptcy.
Instead of shutting her business down, she sent an email to four potential acquirers who had shown interest in the past…that’s when things got interesting.
In this episode, you’ll learn:
- How the name of your company may impact an acquisition
- About where to find unexpected funding sources
- How Nirvelli went from letter of intent to a closed sale in 2 months
- What she’d do differently if she could rewind the clock
Nirvelli struggled to scale because she had a negative cash flow cycle. She had to buy raw material, design packaging, market her product, and then sit around and wait for her distributor to pay her weeks later. The more she grew, the less cash she had. Growing companies need a positive cash flow cycle, which you’ll create when you complete The Cash Flow Finder tool in The Value Builder System™. Get started for free right now by completing Module 1.
About Our Guest
Julie Nirvelli grew up in an entrepreneurial family and worked in seven family businesses starting when she was 6 years old. Originally from California, Nirvelli moved to Colorado 14 years ago, and in that time started and sold two companies of her own. In January she sold her second company, Winking Girl! Foods, which she ran for 9 years, to Tres Latin Foods. The entrepreneurial spirit has been passed on to Nirvelli’s 10-year-old daughter who recently started her second business (not at the urging of her mother- all on her own).