There are several factors to consider when selling your agency, as well as factors to avoid, like the plague, but it is always beneficial and necessary to get advice from someone who understands what should be considered and when it should be considered. It’s also important to know what you shouldn’t do, and one of the first things you shouldn’t do is sell your company just because it’s failing.
What is Your Rationale?
If you and your agency have been suffering, it might be tough to find a cause to sell, but Robb Bailey has vast experience selling successful agencies and understands that selling a failing organization isn’t a good look. When you try to sell a failing agency, you may find that it has no value because it is failing, and you haven’t made any attempt to help it grow, flourish, and thrive.
Consider the Benefits
Do you have a specific market? A successful business? Is your income regularly higher than expected? These are all fantastic indications that your business is thriving. Whatever is going on in your agency, a favorable perception of your company will make or break your business and potential sale. It is vital to be able to plan and manage your company’s favorable elements. Being able to do so helps you to earn from your agency rather than losing money after a significant amount of time and effort. Nobody hates to be told that their firm is ineffective.
Consider the Consequences
When your bottom line suffers and both employees and customers are unsatisfied, you know you’re in danger. It’s not a good image to be unable to keep your agency running, and don’t be shocked if the amount is less than you expected. Attempting to sell a failing firm would also affect your image in the long term; it will show that you failed with your agency, making others unwilling to let you manage another one. It will also make potential clients fearful of using you as a service provider since they feel you will sell out at any point. Selling a failing company or agency is and always will be a terrible decision.
Other Factors to Consider
Other factors to examine, according to Robb Bailey, include whether or not you are actively onboarding new clients. You should also ensure that you are well-read and studied in your profession, that your business has clearly defined teams, that your clients are satisfied, that your feedback is favorable, and many other things. Scaling a business may be challenging and daunting, but it is worthwhile to persevere through the obstacles in order to bring your firm to a better place before selling. When you sell during a terrible phase, you risk losing a large portion of your company’s potential earnings rather than sticking it out and establishing a wonderful one.
If you’re worried about how to manage your business and help it grow and flourish, go to Robb Bailey’s website to learn more about how he can help you! You never know what your future holds unless you take the necessary measures.