Our Past M&A: A Broken Gearbox
When gears don't connect, the machine fails
SPARK
PASS
The Core Problem
M&A only works when there is a strong, organic core engine. Without it, acquisitions drain resources instead of compounding value.
Our focus is building that engine inside Begin before expecting M&A to accelerate results.
Costly Distractions
Sesame partnership; Begin App (never launched); America's Test Kitchen + Craft (low margins, no new demand); Tutoring (unclear value for our age range); Classes upsell (low adoption, poor economics); Begin memberships (no PMF); Begin brand (low awareness, no breakthrough yet).
Hard Truth
M&A only works when there is a strong, organic core engine. Without it, acquisitions drain resources instead of compounding value.
Our focus is building that engine inside Begin before expecting M&A to accelerate results.
Key Takeaway
Build the organic engine first; use M&A to accelerate what already works.