The Client Situation
A $4 million traditional public relations firm located in the Midwest was doing high-caliber work with a strong senior staff, turning in decent profits year after year, and enjoying a strong reputation in its market. While the firm had been highly successful, its growth had started to somewhat taper off, and both the owner and management team had become concerned about the increasing competition in the market — particularly by the emergence and aggressiveness of local digital agencies. They believed that a strategic acquisition plan could not only help them spur their growth but also add much needed capabilities to enhance the overall business value, but they had never done a mergers & acquisitions deal before.
The TobinLeff Solution
After we assessed the client's situation and interviewed all of the top managers, our organizational consulting firm concluded that the public relations firm was not yet ready for the strategic acquisition plan they originally thought they needed. We instead recommended that they take time to rethink their own vision and then develop a better understanding of the myriad types of digital agencies that were popping up as their competitors. TobinLeff proposed a two-day strategic planning consulting session with us in order to create a strategic acquisition plan that would properly align with the overall strategic goals of their agency. The end result of combining our firm's Proprietary Value Drivers, a candid SWOT analysis, and other business valuation strategies, led to the profile creation of an ideal acquisition target for them. With this profile in hand, we worked hand-in-hand with the agency, helping them acquire a digital shop with design capabilities, and we are continued to offer them consultation on their phantom stock plans after the deal closed.
Get in contact with the TobinLeff team today to learn if a strategic acquisition plan is best for your business.
