Sell Your Agency & Get the Best Deal By Checking Your Ego at the Door with Jordan Choo | Ep #771 | Smart Agency Masterclass with Jason Swenk: Podcast for Digital Marketing Agencies | Podwise
This episode explores the process of selling an agency, focusing on the experience of Jordan Choo, a former agency owner. Against the backdrop of many agency owners receiving unsolicited acquisition offers, Choo's sale stemmed from an organic introduction and evolved from a potential partnership into a full acquisition. More significantly, the discussion highlights the importance of removing ego from negotiations, emphasizing a business-transactional approach rather than an emotional one. For instance, Choo's clear understanding of his agency's EBITDA multiple facilitated a smooth negotiation process. As the discussion pivoted to post-sale integration, the importance of a well-defined integration plan and clear communication regarding roles and responsibilities emerged as crucial factors. In contrast to Jason Swenk's experience of a lack of clarity post-acquisition, Choo's proactive approach to negotiating his post-employment engagement is presented as a best practice. Ultimately, the episode underscores the significance of understanding one's "why" when building and selling an agency, emphasizing the need for a clear vision to guide growth and ensure a successful exit strategy. This means that agency owners should carefully consider their long-term goals and align their business strategies accordingly.
