Situation

The owner of a profitable PR agency in the Southwest began thinking about succession and hired us after sitting in on one of our Webinars. She had taken the initial steps to put in place an ownership transition plan by offering minority shares to a couple of top managers, but had no idea how a long-term plan would play out, or what she should do next.

The TobinLeff Solution

We structured a plan that would enable the firm’s two senior managers to acquire the firm through a three-phase process, with minimal outlay of personal cash by the acquiring partners. To accomplish this, the firm needed to continue to grow and maintain its profit level. So we rolled up our sleeves, did a SWOT analysis, researched the competition, and facilitated the development of a strategic plan which resulted in, among other initiatives, repositioning of the firm, a new website, the acquisition of a design practice, and strengthening of the firm’s digital capabilities. The firm has remained on-track since then, as proven by our annual plan reviews.