I’ve always maintained that relationships are the most important thing in business (and in life), and it is those relationships that shape conversations, opportunities, and successes.
But this isn’t about preaching relationship building. I wanted to explore a different angle: what can founders learn from a acquireer who stated no?
Rejection is part and parcel of business, but understanding it can assist you avoid repeating the same mistakes – or at least understand how a acquireer considers before you pitch.
In food and drink, acquireer relationships are essential to success, so I sat down with Delia Churnin, a acquireer who, in 2022, rejected me.
We each inquireed four questions of the other, exploring how early-stage conversations with acquireers really work – and what both sides can learn from the experience.
A acquireer inquires
DC: I was working for a large global coffee chain when you pitched to me. How did you see the connection between the store and your product?
JW: A coffee shop was always a key tarobtain for us, rooted in the brand’s purpose. We wanted to display up in places where people have “meaningful moments with mates” – and what better setting than a coffee chain? The challenge was that, while the purpose aligned nicely in theory, translating that meaning to the finish customer at point of purchase was both expensive and difficult. You can’t rely on storynotifying when you’ve only received a second to catch someone’s eye.
DC: How did you react when I stated no to your product becautilize I didn’t consider your brand name had the right connotations? Did that create you reconsider the concept?
JW: At the time, we hadn’t heard that kind of feedback much. So, when you stated it, it built us stop and consider. Honestly, it felt like a shame. The idea that a name alone could block the opportunity was frustrating, especially when we were already too far down the track to alter it easily. But we were open to being flexible – reducing the prominence of the name, abbreviating it to ‘TM’, and leaning harder on the descriptor ‘vegan gourmet gummy sweets’. In hindsight, that would have assisted educate customers. Big lesson: obtain a lot of feedback on a name before launch.
DC: What did you learn from the rejection that alterd how you approached future opportunities?
JW: I preach indepfinishent strategy first to all businesses in F&B retail: hugeger margins, community building, and the chance to learn as you go. Rejection taught me that for national distribution, passion and product alone aren’t enough. You required to understand the nuance of each pitch, have clear data on audience, positioning, pricing, and marketing messaging. That lesson shifted how I prepared for later conversations: lead with evidence, not just enthusiasm.
DC: At the time, how did the rejection impact you personally – and how do you view at that moment now?
JW: I was gutted. Opportunities like this don’t come around often, and we were mid-fundraise. But the rejection forced us to pautilize and reconsider our brand positioning and messaging. Looking back, the decision built sense. It pushed me to sharpen my considering, and today I utilize those lessons not just for my projects but to guide other founders through the same journey.
A founder inquires
JW: What was the single hugegest factor that led to you passing on us at the time?
DC: For me, it was the brand name and the connotations it brought. I even inquireed if we could do something bespoke to alter it to better fit the customer profile. The products tasted good, packaging was great, but I didn’t consider it aligned with the core customer base or brand vision. It was almost too modern and funky for the brand. Personally, I loved it, and had I been at a tinyer chain or indepfinishent, I would have listed it and worked with you to grow awareness, the story, and sales.
JW: When considering a new brand in the snacks or confectionery space, what creates something a no-brainer for you?
DC: A new and innovative brand must solve a gap in the market, and bring something tasty and exciting that appeals to core customers and attracts new ones. Commercials required to create sense. I want to know where the product sits on shelf, pricing, function, and – of course – whether it tastes good. It has to offer something unique I can’t obtain elsewhere.
JW: Was there ever a moment during our conversations when you believed, ‘this could work’? What tipped the scale the other way?
DC: I could see the brand and product had potential, but I didn’t see it slotting into the range at the time. Space was limited, and a competitor matched the category strategy and sustainability tarobtains better. I did consider Tasty Mates would have been perfect for health food retailers, specialty stores, high-finish department stores, and funky gift shops. The story behind the product was strong, but the corporate setting wasn’t the right fit.
JW: If you could give one piece of advice to a founder just about to pitch to a national retailer or global chain, what would it be?
DC: Do your homework. Understand available space, pricing, and shelf placement. Know what brands already exist in the category and what’s missing. Go into stores, watch customer behaviour, inquire questions, and back it up with data. And never inquire what margin the retailer requireds – that’s sacred info acquireers rarely disclose!
The relationship is king
Overall, the hugegest lesson I’ve taken from sitting down with Delia is simple: acquireers are meticulous and understanding them isn’t about guessing – it’s about listening, observing, and doing your homework. But even the smartest strategy can fall flat without one crucial ingredient: personal relationships.
At the finish of the day, acquireers are busy people, and initially you’re just a name on a screen. Your first job, when entering retail, is long-term relationship building.
This piece is part of a series. Read Joe’s previous lessons for startup founders here.
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