Things we write about
Articles, insights and thought leadership from the Hunter Hawes & Co. team
6 July 2026
Where did all the buyers go?
Agency founders are telling each other that the buyers have gone. In reality the buyer pool has simply changed shape; discreet private acquirers are still buying well-run sub-£5m agencies but no longer announcing their deals.
16 June 2026
Innovate? How the hell do we do that!
Innovation, the noun, freezes people; innovating, the verb, gets them moving. Ben Bensaou's Built to Innovate shows how agencies can turn that shift into a habit, building a second engine before AI forces the question.
1 June 2026
The Chasm Is Opening in the Agency Market. Which Side Are You On?
Market dislocations transfer assets from the operators who can't adapt to those who can. AI is doing it to agencies now. Revenues might still look healthy and maybe nothing feels like a crisis? Read on...
10 May 2026
What is a buyer thinking when I sell my agency?
Buyers don't buy to remunerate you for the past; they're buying your future. Numbers get you through the gate, but it's chemistry that decides the deal, often inside ten minutes. Prepare to be real, not perfect.
4 May 2026
How to beat the zombie business blues: why you should be building assets
Flatlining agencies must build market-based assets first (fame in a tight category), then proprietary IP, and only then diversify. Pushing harder or broadening too early deepens the problem and risks zombification.
26 April 2026
How to beat the flatline business blues: why you should be buying assets
Flatlining in an agency is an exhaustive way to survive. In this article I make the case that almost any profitable agency can acquire to extend the growth stage of it's lifecycle. Next week... I look at building as opposed to buying.
20 April 2026
Improving your agency's EBITDA without cutting creativity
Some agency leaders I meet assume better margin means worse work. That's not my message... quite the opposite. The route to higher EBITDA depends on which kind of agency the market thinks you are, and whether you're brave enough to agree with them.
12 April 2026
Why I lost faith in retainers
An exploration of why the traditional agency retainer model is flawed and how shifting to value-based engagement creates better alignment for businesses.
6 April 2026
Three systems every agency needs to build a better business
Three interconnected systems, growth, operations and management, determine agency value. Growth drives invitations, operations converts them into margin, and management reduces owner dependency, closing the loop back into growth.
23 March 2026
Why would I buy when I can build for free?
Smaller agencies relying on organic growth risk falling behind. M&A offers a faster path to scale, capability, and relevance, but only if done properly. With the right structure, acquisitions can be self-funding, making them accessible, practical, and increasingly desirable.
15 March 2026
Building an agency group through acquisition: where to start
Agency growth through acquisition demands preparation. This piece provides a strategic framework covering acquisition rationale, target criteria, pipeline building, deal structuring and integration, drawn from real-world experience completing eleven agency deals across the Creative, Performance Marketing, and PR sectors.
9 March 2026
Lessons every agency seller needs to hear (Part 2)
One of the most difficult lessons I’ve come to terms with in the last decade is that completing a deal is sometimes the wrong thing to do. Regardless of how good it looks on paper, and whether you’re a buyer or a seller, unless you’re absolutely clear on your motivation to complete, you probably shouldn’t.
2 March 2026
Lessons every agency seller needs to hear (Part 1)
Lessons from the sharp end. How using a buyer mindset helps you build a better agency whether you want to sell or not. This is part one of a two-part series.
23 February 2026
Why I keep telling agency owners not to sell
Since 2022, the market for creative agencies has been brutal. Margins are compressed, clients have churned, and most owners are exhausted. They want out. But wanting out and being ready to sell are two very different things.
16 February 2026
How to structure creative agency earn outs
Earn-outs are one of the most discussed features of creative agency M&A, and one of the most misunderstood. Just this week I was listening to a podcast with two venture capital experts talking about M&A. "Never accept an earn-out," they both agreed. Well, that's that then isn't it. Or is it?
9 February 2026
Preparing creative agencies for successful business exits - sell now or build value first?
Choosing between selling your agency now or building for a bigger exit? Understand the two clear paths to maximise your agency sale value and make the right decision for your situation.
2 February 2026
Who decides how much your agency is worth?
Valuations given to you by brokers, accountants or others are indicative only. The hard truth is; the value of your agency is what a buyer will pay. Luckily, we can influence that.