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Merging, Buying & Selling An Agency : The 3Pipe Journey with Jim Hawker
Manage episode 461286241 series 3638634
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Summary
Jim Hawker, co-founder of 3Pipe, shares his journey of starting and growing the agency over 20 years, including the challenges of mergers, acquisitions, and financial turmoil. He reflects on the evolution of marketing, the importance of strategic growth, and the lessons learned from navigating a significant financial crisis. The conversation culminates in his exit strategy and thoughts on the future of agency growth.
Takeaways
Started 3Pipe in April 2004, the same month as Facebook. The agency evolved from traditional PR to brand performance work. Merging with a paid media agency was a strategic move to enhance digital skills. Acquisitions were driven by the need to fill gaps in service offerings. Navigating financial turmoil was a significant challenge for the agency. The finance director's gambling addiction led to a major crisis. The sale to a technology consulting firm was a strategic decision. The earn-out period was extended due to COVID-19. Reflections on whether to have continued as a traditional PR agency. Understanding new channels kept Jim motivated in his marketing career.
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