by Charles Cohon, President and CEO, MANA
Should I stay or should I go now?
If I go, there will be trouble.
And if I stay it will be double.
So come on and let me know.
The Clash, 1982
Rep members have been calling recently to talk about how to adapt to the challenges of running a small business in a COVID‑19 environment. Many of those calls have ended up as discussions about “Should I stay or should I go?”
The “Should I Stay” group has been saying: “My commissions are down and I need to find a way to replace the income I’ve lost. How can I find a rep firm for a merger or acquisition to make up for that lost income?”
The “Should I Go” group has been saying: “I’ve been thinking about retirement for a long time anyway. How can I find a buyer for my rep firm?”
Whether you are in one of these groups or are just thinking about testing the waters, MANA has the resources you’ll need to make your decision strategically.
- MANA’s “Steps to Rep Professionalism” program in the member area of www.MANAonline.org has 14 carefully chosen articles, reports, and audio/video succession planning resources, including our centerpiece: Valuation and Sale of a Manufacturers’ Representative Business Special Report.
- MANA’s Business Counseling lets MANA members contact us to get objective third-party ideas on how to succeed with succession planning.
- MANA’s Attorney Access membership benefit gets you an annual free half-hour consultation with an experienced, rep-savvy attorney.
- MANA can help you locate MANA rep members that have been in business long enough that the founder might be open to a conversation about an acquisition or merger.
- MANA’s online “Agencies for Sale” ads are free to MANA rep members through June 30, 2021. If you have any questions reach out to Susan Strouse by email at sstrouse@manaonline.org.
Should I stay or should I go? Reach out to MANA, we’re here to help you figure it out!
Charles Cohon, CPMR, is CEO and president of MANA. In 2016 Cohon earned the Certified Association Executive (CAE) designation after completing American Society of Association Executives (ASAE) coursework and testing. Cohon also earned an MBA with honors and with concentrations in strategic management and entrepreneurship from the University of Chicago Booth School of Business, and was founder and owner of a very successful Illinois manufacturers’ representative firm for nearly 30 years before joining MANA.