Episode Details

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training

Could an internal succession be the right choice for your eventual agency exit? What could that sort of deal structure look like in order to ensure you're leaving the agency in the best hands possible? As one agency owner transitioned to out of the agency day-to-day, an unexpected result was an organic exit from the business with an employee buyout.

A shining-star employee with the potential to be a great owner was the buyer in mind. Now the challenge was helping him get to a place where he could make the purchase. Listen to the inspiring story of adaptability and structuring the right deal to sell your agency to the right person.

Eric Holter is the CEO of Cuberis, a specialized web development firm focused on the museum industry. He shares his journey from studying traditional illustration to working in web development and launching his first web company, the reasons he decided to sell and follow other dreams, and how he ended up owning another agency years later.

Eric is also the author of Blazing the Freelance Trail, a roadmap for creatives just getting started that will walk them through five main principles: money, minutes, management, marketing, and motivation and explains their role in creating and running a business.

In this episode, we'll discuss:

• Client diversification for agency survival.

• Building a bridge from employee to ownership.

• The five roles of a CEO.

Apple | Spotify | iHeart Radio

E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.

Eric first entered the advertising world as an illustrator using the traditional methods. He was looking for something new after freelancing for a while and knew his skills in letterpress printing and wood engraving wouldn't pay the bills.

However, in 1995 he was quick to adapt to the new era brought by the internet and started his first business. Back then, all his clients were just scrambling to get a website for their businesses. Finding clients was as easy as sending them an email offering his services. This agency grew quickly to 12 employees and then was hit by two major events throughout the years: the dotcom bubble burst and 9/11, prompting a dramatic downsizing.

Though the agency gradually recovered, Eric ultimately decided to sell in 2013 looking for a fresh start doing some consulting work. He wanted to help business owners learn how to run their business.

One of his clients was Cuberis, whose (then) owner needed guidance in managing the business. What began as a consulting relationship evolved into an unexpected opportunity and Eric eventually purchased the agency. With this, round two of agency ownership began.