A prior, casual social relationship with Avation's chairman meant the activist's arrival wasn't a 'cold call.' This established rapport allowed for immediate, constructive dialogue, bypassing the initial hostility common in activist situations and accelerating strategic alignment from the outset.

While most acquirers rely on brokers, platforms like Craigslist or Facebook Marketplace can be a hidden source of off-market deals. Very small, less sophisticated business owners often default to these simple platforms to sell, creating unique opportunities for diligent searchers.

Relying on inbound deal flow is like buying a house in a competitive market. The best deals, like off-market real estate, are found through proactive, direct outreach. This "hard work" of building relationships and creating opportunities leads to better terms and less competition.

To secure a critical partnership with Beyond Meat after another deal collapsed, Emma Hernan didn't use traditional channels. She systematically reached out to every account Beyond Meat followed on social media, correctly assuming this network contained employees or close connections, and successfully landed the deal.

Institutional investors prefer quantifiable data with historical correlations. They struggle to build teams and models around qualitative, evolving 'conversational data' from social media. This structural inability to act on non-quantifiable signals creates a lasting advantage for observant retail investors.

When direct outreach to potential sponsors fails, use unconventional channels. To land a key partnership, Millie couldn't find the right contact, so she messaged the company's customer support. They eventually routed her to the correct person, proving that the "third door" is often effective.

The activist purchased a large, illiquid 20% stake from a motivated seller at a 25% discount to the last traded price. This price itself was far below tangible book value. This 'discount on a discount' front-loads returns and builds in a significant margin of safety before any operational improvements are made.

A specific VC playbook: post a screenshot of text with a punchy, controversial headline. The headline drives viral distribution and outrage, while the nuanced text attracts knowledgeable individuals who then send better ideas and relevant startups, effectively turning social media into an inbound deal-flow engine.

Don't treat your M&A strategy as a state secret. Proactively sharing a detailed deck with bankers and trusted advisors multiplies your sourcing capabilities. This transparency ensures the inbound opportunities you receive are better aligned with your strategic priorities.