The 6 Types of Agency Buyers: Who They Are and What They Really Want | EP 14
Release Date: 10/13/2025
Turning Every New Client Opportunity Into an Agency’s Compounding Asset | EP25
The AgencyHabits Podcast
Most agencies treat client work as a series of one-off transactions. But the most successful firms treat every engagement as an investment that compounds over time. In this episode, hosts Peter Kang and Sei Wook Kim introduce the concept of engagement yield: the tangible and intangible value that extends far beyond the invoice. They break down the four components of engagement yield; proof, leverage, relationships, and referrals. And explains how agencies can systematically capture this value. Peter and Sei Wook share practical strategies for turning client work into lasting assets: from...
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Why Peter Wrote a Book on Holding Companies | EP24
The AgencyHabits Podcast
In this special episode, host Sei-Wook Kim interviews Barrel Holdings co-founder Peter Kang about his new book, The HoldCo Guide: How Entrepreneurs Structure and Build a Holding Company That Lasts. Peter shares the organic journey that led him to write the book, from scaling a single agency to building a multi-agency holding company, and why no existing resource fully addressed the topic. He breaks down the core concepts every entrepreneur should understand: the spectrum between capital allocator and operational HoldCos, the critical balance of centralization vs. decentralization, and the...
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Breaking Down Agency Employee Compensation | EP23
The AgencyHabits Podcast
Compensation is more than just a number. It’s a strategic tool for attracting, retaining, and motivating talent. In this episode, hosts Peter Kang and Sei-Wook Kim unpack the full spectrum of employee compensation in an agency setting. They start by acknowledging that while pay is crucial, it’s not the only factor. Culture, management, challenging work, and company trajectory all play vital roles. From there, they dive into the core components: base salary (and how to set competitive, geographically-aware bands), benefits (health insurance, 401k, PTO, and creative perks), and both short-...
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Annual Checkup: 9 Markers to Diagnose Your Agency’s Health | EP22
The AgencyHabits Podcast
Most agencies only seek help when something is broken. But by then, the problems are often systemic. In this episode, hosts Peter Kang and Sei-Wook Kim shift the conversation from reactive fixes to proactive health. They introduce a holistic “annual checkup” framework, mapping nine critical agency functions to body parts and their vital signs: from positioning (vision) and client trust (heart rate) to revenue stability (blood pressure) and risk resilience (immune system). Drawing from their experience building and scaling Barrel, Peter and Sei-Wook explain how to spot early warning signals...
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Evolving from Managing Projects to Growing Accounts | EP21
The AgencyHabits Podcast
Growing from single-project engagements to managing multiple, concurrent work streams is a major turning point for any agency. In this episode, hosts Peter Kang and Sei-Wook Kim unpack the structural shift required to turn this complexity into a sustainable competitive advantage. Drawing from their own hard-earned lessons at Barrel, they dissect the common pitfalls like team silos, client misalignment, and leader burnout, that can derail multi-faceted accounts. Peter and Sei-Wook break down the three critical roles needed for success: Account Leadership for strategy and relationships, Program...
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How Agencies Should Think About and Manage Risk | EP 20
The AgencyHabits Podcast
In this episode, Peter Kang and Sei-Wook Kim break down how agency owners should think about risk, not as isolated problems to react to, but as ongoing exposure that needs to be actively managed. Using a simple risk matrix, they explain how to prioritize risks based on likelihood and impact, and why high-impact risks deserve disproportionate attention. They then walk through nine of the most consequential risks agencies face, from founder burnout and partner misalignment to legal exposure, cash flow insolvency, client concentration, and strategic drift. For each, they share practical ways to...
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Learning From Other Agency Owners | EP19
The AgencyHabits Podcast
Great agencies are not built in isolation. In this episode, Peter Kang and Sei-Wook Kim explore the transformative power of community and peer learning for agency founders. The hosts share their personal journey from working in a silo to actively seeking mentorship and joining dedicated communities, revealing how these connections helped them avoid blind spots, gain crucial perspective, and accelerate their growth. Peter and Sei-Wook break down specific communities that have been instrumental to their journey, including Bureau of Digital, Society of Digital Agencies (SoDA), and Collective 54....
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Why Agencies Rely on Referrals But Few Treat It as a System | EP18
The AgencyHabits Podcast
Most agencies say they rely on referrals, but few treat them as a system. In this episode, Peter Kang and Sei-Wook Kim dismantle the "hope-based" approach to referrals and lay out a strategic framework for building a consistent pipeline. Drawing from the book The Referral Code, they redefine referrals as a transfer of goodwill and share actionable tactics for intentional referral generation. Peter and Sei-Wook cover how to identify the right people to ask, the critical importance of timing your ask within a "state of appreciation," and how to craft effective, open-ended questions. They also...
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The Six Levers of Profitable Client Engagements | EP17
The AgencyHabits Podcast
Profitability is the lifeblood of any agency, yet it can feel elusive. In this episode, Peter Kang and Sei-Wook Kim move beyond surface-level tips to reveal the six fundamental levers that directly impact the bottom line of every project, retainer, and service program. They break down how pricing, staffing, engagement design, scope management, reusable IP, and automation all interlock to create or erode healthy gross margins. Drawing from their experience across the Barrel Holdings portfolio, Peter and Sei-Wook share candid examples of where profitability leaks and provide a practical...
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Scaling Your Agency Beyond $2M | EP 16
The AgencyHabits Podcast
In this episode, Peter Kang and Sei-Wook Kim dissect why agencies hit the $2M and what you can do to break through. They explain how founder-centric systems that work at a smaller scale become the primary constraint to growth, leading to breakdowns in client delivery, team management, and financial visibility. The hosts share actionable solutions, from improving onboarding and implementing debrief processes to strategically hiring for your weaknesses and deepening financial rigor. They also introduce the Agency Systems Playbook, a framework of five core systems that drive a scalable agency....
info_outlineIn this episode, hosts Peter Kang and Sei-Wook Kim break down the complex landscape of agency acquirers. They map out the six primary types of buyers, from individual entrepreneurs to massive strategic networks, explaining the distinct motivations, financial structures, and long-term goals for each.
Peter and Sei-Wook provide a clear-eyed view of what it's like to sell to each buyer type, covering everything from highly leveraged individual purchases to the synergy-driven deals of strategic acquirers and the financial engineering of private equity platforms. They also delve into the nuances of management buyouts, employee ownership plans (ESOPs), and the "permanent capital" model of independent holding companies like Barrel Holdings.
For any agency owner considering an exit or simply curious about the acquisition game, this episode offers an essential guide to understanding who might be on the other side of the table and how to align your own goals with the right buyer.
Key Moments
1. Mapping the acquirer landscape: Why not all agency buyers are the same.
2. The Individual Buyer: Buying a job, financing with SBA loans, and the risks/rewards of high leverage.
3. The Strategic Buyer: The pursuit of synergy, higher multiples, and the reality of brand integration.
4. Private Equity Platforms: The roll-up strategy, multiple expansion, and operating on a 3-7 year timeline.
5. The Independent HoldCo: The "permanent capital" model focused on long-term compounding and decentralized operations.
6. Management Buyouts: A gradual ownership transfer to the next generation of internal leaders.
7. Employee Ownership (ESOPs): Preserving legacy and culture through employee stock ownership plans.
8. Where Barrel Holdings fits: Our philosophy on long-term ownership, autonomy, and sustainable cash flow.
Real Talk Takeaways
1. Individual buyers are often "buying a job," using heavy debt to acquire a business they can operate and grow themselves.
2. Strategic buyers pay premiums for synergy, but be prepared for your brand and culture to be absorbed into the larger entity.
3. Private equity is in the business of buying, growing, and selling within a fixed timeline—their incentives are tied to a future exit.
4. Independent holding companies offer a long-term, "permanent capital" alternative without the pressure of a fund-based exit.
5. A management buyout is a stable, gradual way to transfer ownership and reward the team that helped build the business.
6. ESOPs are less about maximizing price and more about preserving a company's legacy and rewarding its employees.
7. The right buyer for you depends entirely on your personal goals for the business's future, your desired involvement, and what you value beyond the check.
Timestamps
00:00 – Intro: The different worlds of agency buyers
01:08 – The individual buyer: Motivations and financial structure
03:36 – The seller's experience with an individual buyer
04:13 – The strategic buyer: synergy and higher multiples
06:32 – Risks of strategic integration and cultural mismatch
08:23 – The seller's role and earnout in a strategic acquisition
10:31 – Private equity-backed platforms and the roll-up strategy
12:35 – The private equity playbook and value creation
13:23 – The seller's experience and "second bite" with private equity
15:30 – The independent HoldCo: long-term capital and decentralized ops
18:07 – Flexibility for the seller in a HoldCo deal
19:46 – Management buyouts: transferring ownership internally
21:25 – Employee ownership (ESOPs): preserving culture and legacy
23:57 – How an ESOP works from the seller's perspective
25:50 – Barrel holdings' philosophy and what we look for
29:23 – Closing thoughts: Choosing the right buyer for your future
Notable Quotes
"Individual buyers... are in many instances buying a job. I think it might be somebody who worked in the corporate environment for many, many years... they wanted something where they had more control, autonomy over their time." — Peter Kang on the motivation of individual acquirers.
"Strategic buyers... think it's a one plus one equals three situation... they're willing to pay higher multiples. And usually, this might be another agency that's bigger or maybe even a network." — Peter Kang on why strategics pay a premium.
"Private equity firms... their job is to acquire, grow, and sell within a three to seven year time horizon. So their intent is to grow value and sell. And I think that's an important distinction here." — Sei Wook Kim on the private equity model.
"In a HoldCo... there's no fund, there's no investors, there's nothing that forces actions in one way or another." — Sei Wook Kim on the flexibility of independent holding companies.
"When agency owners think about selling, usually the focus is on, what's the price, what's the timing... But really, as we've illustrated today, there's so many different types of buyers. So it's understanding, what kind of buyer do you want to build a future with?" — Sei Wook Kim on the importance of choosing the right partner.
Links & Resources
Peter Kang on LinkedIn: https://www.linkedin.com/in/peterkang34/
Sei-Wook on LinkedIn: https://www.linkedin.com/in/seiwookkim/
AgencyHabits Website: https://www.agencyhabits.com/
AgencyHabits on LinkedIn: https://www.linkedin.com/company/agencyhabits/
Barrel Holdings Website: https://www.barrel-holdings.com/
Barrel Holdings LinkedIn: https://www.linkedin.com/company/barrel-holdings/