6 Tips To Consider Before You Sell Your Agency - Clodagh Higgins

If you've decided to sell your agency, to make the process more successful, you should take a few steps to get prepared before you start. This may include conducting market research, preparing financial statements and developing a sales presentation to showcase all that your agency has to offer potential buyers.

Clodagh Higgins is talking about six tips you should consider before selling your agency:

1. Get All Your Processes and Procedures in Place: Before you sell your agency, it's essential to ensure everything is working as smoothly and efficiently as possible. Get all internal processes and procedures up-to-date so the potential buyer can see that the company is running efficiently from day one.

2. Create A Pitch Deck: A compelling pitch deck is an effective way to present the business to prospective buyers. Ensure all key information such as financials, team size, customer testimonials, technology stack and future plans are communicated clearly.

3. Don't Tell Your Team Until the Deal is Done: Unless it's absolutely necessary, try to keep your team in the dark about the potential sale until it has been finalized. This will help to maintain morale and prevent unnecessary stress or anxiety from affecting their work performance.

4. Prepare for Long Sales Process: Selling an agency can be a long and complex process that may take months, even years, to complete. Therefore, you should mentally prepare for this timeline ahead of time so that you don't feel overwhelmed when negotiations are dragging on longer than expected.

5. Engage A Coach & Get Consultancy: Engaging a professional coach with experience in selling agencies pays off. They can provide advice and guidance throughout the process, ensuring you stay focused on driving a successful outcome. It would be best if you also got professional consultancy to ensure all legal aspects are taken care of when it comes time to sell.

6. Have An Exit Strategy: Having an exit strategy in place will help you feel more prepared for whatever happens after the sale goes through. Consider how much of your equity stake you want to sell, what kind of continued involvement you are looking for and which options you prefer if the deal falls through.

By following these tips before selling your agency, you'll be better positioned to make informed decisions and maximize the value out of any potential sale.

Listen to Clodagh Higgins to learn more about what you should know before selling your agency. Here is an introduction from her article in the Agency Growth Book:

"Selling your agency on your own can be a full-time job and a challenge alongside running your day to day operations in your agency. Before you jump into the deep end, there are a number of steps you can take that will help you make this process as smooth as possible. When you think you're ready to sell your agency, take a few deep breaths, and enjoy the journey."