Latest news with #agency
Travel Weekly
3 days ago
- Business
- Travel Weekly
20 questions to ask a travel agency seller
Mark Pestronk Q: There is another agency in my community that I want to acquire. With my attorney's help, I have already drafted a nonbinding letter of intent with the key business terms, which I expect the prospective seller to sign. I have also reviewed the agency's financials, tax returns and key contracts. Now, I need to have my attorney draft the actual purchase agreement. To enable my attorney to do the best job, what information do I need to ask the seller for now? A: Here are 20 questions for the seller that will help your attorney zero in on all the legal issues and draft a good agreement: 1. What is the agency's full legal name, and where is it incorporated or organized? 2. What are the owners' full legal names, and how much does each own? 3. Is there an agreement among the owners, and if so, what does it provide for? 4. Are the owners related to each other? 5. Who are the agency's officers, directors or managing members? 6. Are there any other companies that are under the same or partly the same ownership? 7. Are there any nontravel-related lines of business within the company? 8. Does the agency have any debts or liens on its assets? 9. Does the agency have any employment or IC agreements that can't be terminated at will? 10. Does the agency have an ARC appointment? 11. Does the agency have a GDS contract, and if so, when does it expire? 12. Does the agency have an office lease, and if so, when does it expire and how much is the security deposit? 13. What other contracts does the agency have that cannot be terminated in 30 days or fewer? 14. Does the agency hold client deposits, and if so, how much are they? 15. Are there any future bookings that will require a buyer to pay out of its own funds (e.g., cruise group deposits paid in advance of collecting from clients)? 16. Which key employees will be retained, for how long, for what compensation, and what duties will they have? 17. Is there any threatened or actual litigation, and if so, what are the details? 18. Are there any other obligations not in the ordinary course of business? 19. Why does the owner want to sell? 20. When would the owner like to close the transaction? Once the agreement is drafted and is acceptable to the seller, you will need to get lots more information to add as exhibits to the agreement, such as lists of tangible assets, contracts, employees, ICs, top clients, top suppliers, client receivables and accrued vacation and other pay. You will also need to add financial statements, along with a warranty that the financials are correct. Finally, in the typical agency acquisition, commissions that are unpaid as of closing will often be automatically deposited into the seller's bank account. If the purchase agreement provides that you get any of this money, you need to list those commissions plus a commitment for the seller to remit them to you after closing.
Forbes
23-05-2025
- General
- Forbes
3 Ways To Reclaim Your Agency In Relationships, By A Psychologist
Reclaiming your sense of agency in relationships is all about showing up as yourself fully. ... More Unfiltered, unperformed and unmuted. Many people come to therapy wondering, 'How did I end up feeling so far from myself?' This internal disconnect can also sound like, 'I don't know what I want anymore' or 'I feel like I'm always performing.' This disconnection from the self usually doesn't come from one big moment. It's often the result of small, repeated choices wherein you find yourself saying 'yes' when you meant 'no' or being the person who always adjusts. Over time, you stop checking in with yourself, maybe because you feel like it doesn't matter anymore. You focus so much on keeping things smooth around you that your own thoughts and feelings start to fade into the background. A sense of agency, according to research, is defined as the feeling that 'I am the one who is causing or generating an action.' In relationships, however, agency is more about making choices. It's about knowing that your needs and voice have value and that you matter. If you've started to feel disconnected from yourself in a relationship, it may be time to check back in. Here are three strategies to help you reconnect with yourself and show up in your relationships with more clarity and honesty. We often assume that if there is harmony in our relationship, it must be healthy. This is a common assumption among individuals who've grown up in homes where love felt conditional or conflict didn't feel safe. In a dysfunctional family set up, staying agreeable often becomes a way to stay connected, even if it means disconnecting from yourself. But research shows that not all 'giving' in relationships comes from the same place, and not all of it supports our well-being. A two-part study on unmitigated communion (UC) — the tendency to prioritize others while neglecting one's own needs — distinguishes between self-oriented and other-oriented motivations behind this behavior. While both involve putting others first, self-oriented UC is driven by anxiety, shame and a fear of abandonment, reflecting a negative view of the self and a compulsive need to please. Interestingly, the study found that people high in self-oriented UC experienced instability not only in their human relationships but also in their relationship with God. This meant that they also experienced anxiety about being rejected or unloved even by a higher power. This suggests that when our urge to care for others is driven by insecurity, it undermines our very sense of being worthy of love. The study's findings are an invitation to understand the deeper 'why' behind our actions in relationships. Ask yourself: 'Am I acting from genuine care or from fear, guilt or a longing to be accepted?' Instead of jumping to a quick 'yes' in relationships, experiment with responses that give you room to breathe. For example, 'I'll need a moment to think about that' or 'Can I get back to you?' It may look like a small shift but it creates a significant space to notice whether your agreement is coming from connection or from fear. And that awareness is the first step toward more grounded, authentic ways of relating. Many of us unconsciously take on roles in our relationships that aren't explicitly assigned to us, but are shaped by our early childhood or other relational experiences. Examples of such roles could be that of the peacekeeper, the caretaker or simply put, the one who always says 'yes,' just to keep the peace. However, the problem is that the longer we perform these roles, the more enmeshed they become with our identity, making it harder for us to step out of them without resistance. Over time, others might come to expect us to show up in those familiar, accommodating ways. And because it feels predictable and probably even rewarded in certain relationships, it's easy to settle and believe that that's what you bring to the table in a relationship. Research, however, shows how this can drain your emotional reserves. A 2019 study published in Personality and Social Psychology Bulletin drawing on self-determination and family systems theories, found that while our need for closeness can predict healthy behaviors like being accommodating, this only leads to better relationships when autonomy is also high. This means that connection feels good when you're allowed to be yourself and make decisions for yourself. Without autonomy, even intimacy can start to feel like pressure or performance. So, if you find yourself over-accommodating, ask: Breaking these patterns isn't easy and often means disappointing others or disrupting dynamics that have been in place for a long time. But that discomfort is part of the growth necessary to redefine the connection without breaking it or losing yourself. When your sense of agency begins to take a hit, it doesn't always announce itself with big, dramatic moments. More often, it shows up as quietly as a vague numbness, a growing disconnection from yourself or the feeling of moving through life on autopilot. It's almost as if you are living for others, instead of simply co-existing. You'll know this is happening when you start adjusting your tone, softening your truths, reshaping your identity or downplaying your needs constantly — all to keep things comfortable for others. A series of studies published in the Journal of Happiness Studies, exploring the concept of the 'Authentic Inner Compass' — a person's sense of clarity around what truly matters to them in terms of core values and goals — found that individuals with a strong authentic inner compass experience greater vitality, higher self-esteem and lower levels of depression over time. But more importantly, it found that well-being was most strongly tied to 'behavioral self-realization,' or the extent to which a person lives in alignment with their inner compass. In other words, it's not just about knowing what you believe. It's about having the freedom and willingness to act on it. So, reclaiming agency requires more than just setting boundaries with others. It begins with telling yourself the truth and noticing when your choices are designed to avoid discomfort instead of expressing who you are. A simple self-inquiry practice can help you get started. For one week, keep a record of the moments you: Be gentle and non-judgmental with yourself while noticing these patterns. At the end of the week, reflect further: 'If I weren't protecting anyone else's comfort, what would I have said or done differently?' The moment you begin asking, 'Is this true for me?' instead of 'Will they approve?' you're not just reclaiming agency; you're reinforcing the very psychological structures that support long-term well-being. Wondering how often you show up as your real self in relationships? Take the research-backed Authenticity In Relationships Scale test to reflect.
CTV News
23-05-2025
- CTV News
Music talent agent among the dead in San Diego plane crash
Watch The co-founder a talent agency and two of his colleagues are among the dead after a plane crashed in a residential neighbourhood in San Diego.
Fast Company
21-05-2025
- Business
- Fast Company
Why hiring in-house might be your worst business decision
'We doubled our marketing team, and still fell behind.' That's what one founder told me in January, frustrated after months of hiring, onboarding, and budgeting…only to lose ground anyway. In 2025, the old formula of 'more people equals more results' just isn't working. Let's face it, traditional hiring is broken. It's costly, time-intensive, and built for a world that no longer exists. Training takes months, and even the best employees can't be experts in everything. And scaling up or down? That's nearly impossible when your budget is tied to headcount. That said, full-time employees are still the heart of any great company. Their creativity, dedication, and drive are what push businesses forward. So, what is a leader to do? That's where the right agency comes in. Not to replace your team, but to amplify it. An agency partner keeps your business agile and efficient, filling in gaps without replacing your team. Instead of overloading in-house employees, an agency can bring specialized expertise exactly when and where it's needed, without adding overhead. 5 reasons to amplify your team with an agency Here's why teaming up with an agency could be the right move in 2025. 1. Access to a dream team When you work with an agency, you're not gaining just one person, you're tapping into an entire squad of experts. Need killer copy, smart SEO strategies, or top-notch data insights? They've got you covered. Building a team like that in-house takes time and money, but an agency delivers it all, with minimal onboarding. This means your employees can focus on the big picture goals while the agency handles the specialized execution that drives results. 2. Smarter spending Hiring is expensive. Salaries, benefits, equipment, training…it adds up fast. Then there's turnover— 46% of employees plan to job hunt in the next three months, and replacing an employee costs about 50% of their annual salary. That number jumps to 100% for higher-level roles. Agencies, on the other hand, come with clear, predictable costs. They're not about cutting corners; they're about making smart investments. You get the best of both worlds; high-level expertise without the financial risk of full-time hires. 3. Staying ahead of the game The marketing world never stops moving, and you must be ready to pivot at a moment's notice. Agencies, like social media-focused marketing agency Firebelly, are built for this. They constantly test new tools and strategies, so you don't have to. I recently spoke with Duncan Alney, founder and CEO of Firebelly Marketing, about how businesses today can't afford to fall behind. 'As a social media marketing agency, we're focused on staying ahead of the industry's trends and news. Marketing shifts too quickly, and in-house teams are already stretched thin,' Duncan shared. 'Firebelly brings the advantage of real-time insights and adaptability, things that are nearly impossible to maintain internally.' Your team can focus on longer-term growth while your agency keeps you on the cutting edge. 4. Scalability, when you need it Businesses aren't predictable. Maybe you've got a product launch coming up, or maybe it's a slow season. Agencies ramp up or scale back as necessary, taking the pressure off your team. It's like having a safety net that adjusts as you go. 5. Hit the ground running Hiring and training new employees takes time, and sometimes you need results ASAP. Agencies come in ready to go. They bring proven systems, expertise, and results. Instead of waiting months to see progress, you build momentum right away. As a marketer and business owner, I've seen firsthand how agencies can transform businesses ready to level up their marketing. The right agency can bring expertise, speed, and flexibility to the table, working alongside in-house teams. This isn't about replacing your employees, it's about giving them the support they need to shine. Before you post that next job opening, ask yourself: Could an outside partner help you achieve your goals faster and with less risk? In 2025, the smartest way to build from within might be by looking outside.
Forbes
16-05-2025
- Business
- Forbes
How To Never Watch The Competition, And Beat Them Every Time
How to never watch the competition, and beat them every time Business owners waste hours every week checking competitors' websites, stalking their social profiles, and panicking when someone launches something new. This constant comparison leads to reactive decisions, copycat strategies, and that crushing feeling you're always one step behind. An obsession with competition keeps you playing small, focused on incremental improvements rather than creating something genuinely groundbreaking that could change everything. This principle transformed my agency before I sold it in 2021. I didn't fixate on local Birmingham or even UK agencies. I set my sights on global players, creating a business that stood out because it wasn't copying what already existed. Most entrepreneurs track competitors because it feels productive. But the real opportunity lives beyond what already exists. Here's how to win without looking at the competition. Competition-saturated markets are red oceans. Bloody with rivalry where businesses fight over the same customers with similar offerings. Winners sail to blue oceans instead, creating uncontested market space where competition becomes irrelevant. This happens by building something genuinely different, not by obsessing over what others are doing. Your focus stays on solving problems that matter, not outmaneuvering competitors who ultimately don't determine your success. Think bigger than everyone else. Ask your customers deeper questions. Look for a new angle to your marketing, a new solution to an old problem. The answers are everywhere. Your distinctive combination of skills, experiences, and perspectives forms your ultimate competitive advantage. No one else has exactly what you have. When clients occasionally tell me they're going with another provider, I simply think: good for you, that was the right choice. Their business serves a different purpose than mine. You'll win more by doubling down on what makes you different than by trying to beat others at their own game. Your ace cards are waiting to be played. Own your space. Become a master of your field. Get to expert status. When you get really good at doing what only you can do, your clients have no other option. If everyone is using the same industry benchmarks, there's a problem. Comparison becomes king. And that's a trap. For you, the competition, and your customers, it becomes a race to the bottom. A game of one-upping the other. This practice benefits no one. Find metrics that matter beyond the typical standards to go further than anyone else. Measure against your own potential, not theirs. Success means building something extraordinary on your own terms. Create your own definition of excellence that has nothing to do with what others are doing. Instead of fixating on direct competitors, look to adjacent industries or completely different fields. Try other business models on for size. Think about how you'd apply your service in a different category. Go broader with your vision. If you're running an agency, study what software companies, manufacturing businesses, and luxury brands are doing, for innovative ideas. Create service models that stand apart from your industry's standard offerings instead of doing what everyone else is doing. Connect the dots others haven't seen. There are clues in every conversation. I never want to win because someone else failed. True victory comes from being better, period. In powerlifting competitions, I want everyone to have their best day ever and still beat them fair and square. The only competition that matters is between who you are today and who you were yesterday. Are you improving? Track your own metrics, celebrate your own wins, and focus on your own growth. When you're tempted to check what competitors are doing, ask: Will this information help me build something better, or am I just comparing myself? Your journey isn't meant to look like anyone else's. Stay committed to your vision without the distraction of constant comparison. Forget about playing defense against competitors and focus on innovation that makes you unmistakable in your market. Create your blue ocean, leverage your unique strengths, set standards beyond your industry, find inspiration in unexpected places, and run your own race confidently. The competition might be watching you, but you'll be too busy winning to care.
