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A favorite moment when I’d meet with agency owners (in-person, pre-pandemic) occurred when I’d casually mention I’d sold my previous agency (four years ago this month). Each time, I’d see an eyebrow raised or note taken.
When we’d wrap up, the owner would often whisper they dreamed of selling their firm and asked how I sold mine.
It’s easy, I’d say, but counter-intuitive: give away a percentage of firm ownership to your best team members – the ones an acquiring firm will want to keep (and most likely had recently failed to recruit away – because they’re an owner). Just try it.
– Chris Schroder, The 100 Companies