Art Stevens, Managing Partner, The Stevens Group, APR, Fellow PRSA
If you’re thinking about selling your PR agency then here are ten important questions you should be asking yourself.
1. Have you made a list of reasons why you want to sell your firm?
2. Are you prepared to report to someone?
3. Do you have a realistic sense of the market value of your firm?
4. Will you be able to get alignment from your key senior managers?
5. Have you mapped out your plans for the future? For example, do you plan to retire, or stay on with the acquiring organization?
6. Is your firm in good enough financial shape to be of interest to a buyer?
7. Are you considering how your life might change if you were to sell your firm?
8. Do you have debt or liabilities that would make the sale of your firm more difficult?
9. Have you considered using professional counsel to help you make your decision?
10. Are you really serious about selling your firm? Or do you just want to go through the experience of having discussions with would-be buyers?