The Mixx Creative Group: A Case Study in Growth through Acquisitions, Certification, Strategic Alliances, and Merger
The world of small business can be tough, with intense competition, fickle customers, and economic uncertainty. To survive and thrive, businesses need to find ways to efficiently enter new markets, expand their customer base, and increase their offers without creating them themselves. One way to do this is through acquisitions, which help diversify the portfolio of products or services, reduce risk, and make the business more resilient to changing market conditions. However, there are risks involved as well, such as cultural fit issues, legal and regulatory compliance challenges, operational problems, loss of key personnel, and excessive debt. In this case study, we will explore how The Mixx Creative Group, a strategic creative agency, has grown from version 1.0 to version 4.0, through acquisitions, certification, strategic alliances, and the recent merger with Captain Creative Group.
The Mixx Version 1.0: A Strategic Creative Agency Is Born
In 1997, long before others realized that a strategic creative agency could build a business by connecting brands with diversity, equity, and inclusion (DEI), Robyn Streisand did. Streisand saw the opportunity to serve underrepresented communities, whether they were women, LGBTQ, African American, Asian, Hispanic, or other marginalized groups. Mixx’s core competency became helping brands bridge the gap between their messages and their target markets by using research to reveal new insights into what and how to communicate. The Mixx then quantified the return on investment (ROI) on the campaign.
The Mixx Version 2.0: Growth Through WBENC and NGLCC Certification
The Mixx growth strategy changed when Streisand became a strong supporter of certification. Streisand, a woman-owned business, discovered that being certified as woman-owned could help the agency break into bigger accounts and compete for RFP opportunities. Streisand’s agency received certification from the Women’s Business Enterprises National Council (WBENC) and the National Gay and Lesbian Chamber of Commerce (NGLCC). Certification helped The Mixx version 2.0 grow and access new markets. Streisand realized that certification played a crucial role in getting contracts from big corporations. Streisand also understood the importance of corporate America and the government in helping underrepresented entrepreneurs grow their businesses.
The Mixx Version 3.0: Growth Through Strategic Alliances
In 2014, Streisand launched the first certificate collective for LGBTQ, minority and women-owned businesses, called Titanium Worldwide. Titanium was created as a growth strategy for The Mixx. Titanium offered consulting, strategy, marketing, communications, creative, execution, media, engagement, technology, and analytics. Agencies were certified diverse by the WBENC, the National Minority Supplier Development Council (NMSDC), or the NGLCC. The spending from any corporation counted toward the corporation’s supplier diversity goals. Titanium had 23 independently owned and operated agencies under its umbrella that took an audience-centric and human-centric approach to marketing. Corporations that wanted their agencies to be lean, agile, profitable, and streamlined showed interest in Titanium. The merger with Captain Creative Group is another step towards growth that started with the formation of Titanium Worldwide.
The Mixx Version 4.0: Growth Through Acquisition
Operations of The Mixx and Captain Creative Group were complementary. Streisand and Captain Creative Executive, Lisa Foti, had worked together for years, collaborating on inclusivity and creativity. Foti’s agency had industry experience in experiential events, marketing communications, and production design for life sciences, technology, and consumer brands. The two agencies had put relationships first and had worked together before. They shared an audience-centric and human-centric approach to marketing. Streisand saw the opportunity to acquire Captain Creative Group and took the chance to do so. The Mixx Version 4.0 was born.
The Advantages and Risks of Acquisitions
Acquisitions have many advantages, such as giving businesses a way to enter new markets efficiently, expand their customer base, and diversify their portfolio of products or services. Acquisitions also help businesses reduce risk and make them more resilient to economic uncertainty. However, there are risks involved in acquisitions as well, such as cultural fit issues, legal and regulatory compliance challenges, operational problems, loss of key personnel, and excessive debt. To make sure acquisitions work, due diligence is needed to reveal potential issues, legal, regulatory compliance, and financial issues.
The Importance of Certification
Certification plays a crucial role in getting contracts from big corporations, especially for underrepresented entrepreneurs, minorities, and women-owned businesses. Certification helps these businesses build their brands, establish thought leadership, and create visibility. WBENC, NGLCC, and NMSDC are certification agencies that certify businesses that are 51% or more owned and operated by women, LGBTQ, African American, Asian, Hispanic, and other minority groups.
The Advantages of Strategic Alliances
Strategic alliances help businesses reduce costs, enter new markets, and access new technologies and talents. Strategic alliances help businesses gain access to new customers, improve production and distribution, and increase their ability to respond to changing market conditions. Certified collectives like Titanium Worldwide help small businesses access big corporation contracts and show suppliers how to achieve supplier diversity goals.
The Recent Merger between The Mixx and Captain Creative Group
The merger between The Mixx and Captain Creative Group is the latest move towards growth that started with Version 1.0. The merger of the two complementary businesses further strengthens the company’s core competency in serving underrepresented communities, whether they are women, LGBTQ, African American, Asian, Hispanic, or other minority groups. The merger helps The Mixx and Captain Creative Group share resources, operations, talent, and technologies. The merger shows that collaboration, relationships, and trust are the keys to growth in today’s uncertain business environment.
Summary
The Mixx Creative Group is a case study in how to grow a business through acquisitions, certification, strategic alliances, and merger. The Mixx started as a strategic creative agency that helped brands connect with diversity, equity, and inclusion. The Mixx then grew through WBENC and NGLCC certification, strategic alliances like Titanium Worldwide, and acquired Captain Creative Group to form The Mixx Version 4.0. The Mixx’s growth shows the importance of certification, strategic alliances, and integrating complementary businesses through merger. The Mixx’s journey shows that relationships, trust, and collaboration are keys to growth in today’s uncertain business environment.
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Do you want to grow your small business? acquisitions It can help you efficiently enter new markets, expand your customer base, and increase your offers without creating them yourself. Helps diversify your portfolio of products or services, which reduces risk and helps your business be more resilient to economic uncertainty.
but there is risks, also. There may not be a cultural fit between the two companies. The due diligence process may not reveal potential issues, including legal, regulatory compliance, and financial issues. The acquisition can be poorly executed, leading to operational problems and the loss of key personnel. The purchase can be expensive, leaving the acquiring company with excessive debt.
Robyn Streisand, CEO of The Mixx, a strategic creative agency, began to grow through the acquisition of complementary businesses. He reduced his risk by buying companies he had worked with for years. Creative Captain Group was his second acquisition.
The Mixx Version 1.0: A Strategic Creative Agency Is Born
In 1997, long before others realized that a strategic creative agency could build a business by strategically connecting brands with diversity, equity, and inclusion (DEI), Streisand did. Interest in DEI grew, as did The Mixx.
Interestingly, Streisand thought that certification as a woman-owned business was for IT staffing and office furniture companies, not creative enterprises. “[Back then,] there weren’t many companies that knew what certification was or meant, especially in the media and marketing communication space,” he said. But his client, Greta Davis of Time Warner, for whom he was developing his first vendor diversity program, He asked him to certify himself, and he did so.
The Mixx version 2.0: growth through WBENC and NGLCC certification
Since then, she has become a strong supporter of certification. You have to come to the table to be considered for a contract with a big company, and that’s not happening enough for LGBTQ and women-owned businesses. Corporate America and the government have an important role to play in helping underrepresented entrepreneurs grow their businesses.
Growth through certification became version 2.0 of Streisand’s The Mixx.
“Mixx’s core competency is serving underrepresented communities, whether they are women, LGBTQ, African American, Asian, Hispanic,” Streisand said. Campaigns can be aimed at internal or external audiences. Mixx builds the bridge between brand and target market by digging into research to reveal new insights into what and how to communicate. The Mixx then quantifies the return on investment (ROI) on the campaign.
The Mixx version 3.0: Growth through strategic alliances
In 2014, Streisand launched the first certificate collective LGBTQ, minority and women owned businesses called Titanium Worldwide. Titanium was created as a growth strategy for The Mixx. “We were asked to compete for RFP opportunities and we got knocked out in the first round because we were too small,” Streisand said. The collective was version 3.0 of The Mixx.
The agencies are certified diverse by the Women’s Business Enterprises National Council (WBENC), the National Minority Supplier Development Council (NMSDC), or the National Gay and Lesbian Chamber of Commerce (NGLCC), and any spending counts toward a corporation’s supplier diversity goals. Capabilities include consulting, strategy, marketing, communications, creative, execution, media, engagement, technology, and analytics. Each agency operates with a shared mindset and a common way of working together.
“For the first three or four years, we were the shiny toy,” Streisand said. “The RFPs were coming in from left to right.” The brands focused on multicultural marketing. Before you knew it, Titanium had 23 independently owned and operated agencies under its umbrella. A few years later, Titanium gained its first agency of record (AOR).
Now corporations want their agencies to be streamlined, more profitable, lean and agile. From an operational perspective, doing this with independent companies required a lot of work. Streisand began to understand why creative agencies buy other agencies.
The Mixx Version 4.0: Growth Through Acquisition
Mixx and Captain Creative Group were doing a lot of work together. “We are two agencies that put relationships first,” Streisand said. “For 26 years, The Mixx has been working to help create the world we want to live in, to help brands realize that DEI is not just a moment in time, but a movement. Founder and Director Captain Creative executive Lisa Foti and I have been lifelong friends and collaborators on inclusivity and creativity.”
Captain Creative brings industry experience in experiential events, marketing communications and production design for life sciences, technology and consumer brands. Both agencies take an audience-centric and human-centric approach to marketing.
Streisand is the visionary. His talent is to see what is in the way. Foti’s core competencies are operations, resources, team building and scalability. “We were doing a lot of work together, and it just became the natural evolution of our relationship.”
“Robyn came to see me at the end of last year and said it made sense for us to work more closely,” Foti said. “I was basically working part time for my company and part time for Titanium and The Mixx. It’s an opportunity to work together to create something bigger.”
“I love working with the Mixx team and the members of Titanium,” said Foti. “It’s a match made in heaven.” Everyone can do what they love to do and what they are good at. And the icing on the cake is that it’s an opportunity to collaborate with like-minded people, people you know and trust. “I was confident in bringing my clients and team to The Mixx,” she said.
Integrating the systems and technology of two different companies takes work. But it hasn’t even been six months since the merger and they’re about 85% there.
How are you growing your business?
https://www.forbes.com/sites/geristengel/2023/06/07/business-acquisition-a-road-to-success-for-small-business-growth/amp/
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