How to Increase Agency Valuation By Firing Yourself

<p>Are you too involved in your agency’s operations? Too stuck working IN the business to work ON the business? It's time to fire yourself from some of operations tasks and increase agency valuation. Removing yourself from daily operations is a great way to prepare your agency for an eventual sale and increase its valuation when the time comes. Start by identifying tasks you don't like as well as the ones someone else could do much better.</p> <p><strong>Tom Foster</strong> is the founder of Foster Web Marketing, a digital agency that helps doctors and lawyers get in front of their ideal customers. Clients usually come to them to build their websites, but many choose to also have them handle aspects like website optimization and content creation. After transforming to a fully virtual model, it took an acquisition offer for Tom to realize he needed to change some things in order to increase its value.</p> <p>In this interview, we’ll discuss:</p> <ul> <li>Preparing your agency for a future sale.</li> <li>The different approaches to sale.</li> <li>Firing yourself from your agency tasks.</li> </ul> <h2>Sponsors and Resources</h2> <p><strong>Wix: </strong>Today’s episode is sponsored by the <a href="https://wix.com/partners" target="_blank" rel= "noopener">Wix Partner Program</a>. Being a Wix Partner is ideal for freelancers and digital agencies that design and develop websites for their clients. Check out <a href= "https://www.wix.com/partners/partner-program">Wix.com/Partners</a> to learn more and become a member of the community for free.</p> <p><strong>What's your agency's valuation?</strong> <a href= "https://jasonswenk.com/agency-valuation" target="_blank" rel= "noopener">Get the formula here.</a></p> <h2>Subscribe</h2> <p><a href= "https://podcasts.apple.com/us/podcast/smart-agency-masterclass-jason-swenk-podcast-for-digital/id870206013" target="_blank" rel="noopener">Apple</a> | <a href= "https://open.spotify.com/show/0FiKuRTpkJ7OraCJBUIlr9" target= "_blank" rel="noopener">Spotify</a> | <a href= "https://www.i