Most agency owners I talk to assume acquisitions are the fastest path to scale. More clients. More revenue. Bigger numbers.
But here’s the truth from someone who’s been there: When we were building a $100M agency, we looked at more than 300 agencies. We only purchased 18.
Why so few? Because buying an agency is never just about multiples or top-line growth. It’s about culture, leadership, systems, and long-term value.
Here’s what I learned:
● Culture Eats Numbers. If the values don’t align, it doesn’t matter how attractive the financials look. Integration will cost you more than the deal is worth.
● Leadership Readiness Matters. Without a bench of leaders who can carry the weight post-acquisition, the deal will drag your organization instead of lifting it.
● Not All Growth Creates Value. Some acquisitions look good on paper but add little—or even subtract—from your long-term agency value. Bigger isn’t always better.
It’s tempting to bolt on growth for the sake of growth. But in practice, it’s the disciplined, strategic deals—the ones you walk away from 9 times out of 10—that actually build lasting value.
For agency owners, the lesson is simple:
be selective, be strategic, and focus on value, not volume.
That’s how you build something that lasts.
More thoughts below.
And if this resonates, consider starting with our Legacy & Market Readiness Blueprint here.