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PR firm owner gives away company worth $1.8m

The founder of a global communications firm has decided to give away his company to anyone from “starry-eyed graduates” to “well-seasoned” executives who are up for the challenge.

Simon Cohen, founder of Global Tolerance, has launched a campaign to give away the company, which is valued at between $900,000 and $1.8 million.

The deal includes 95% ownership, $18,000 in cash, taking on established relationships with clients in the US and UK, company assets and 10 years’ worth of business contacts. Cohen himself will stay on board for one year to support and advise the new company owner.

But the big question is why? Why would anyone simply give away a business they have spent time, blood, sweat and tears on building, and which is known for dealing with clients such as the Dalai Lama and the Prince of Wales?

In this video, Cohen says becoming a father is a whole new step – one which has made him realise his role as a “guardian” as opposed to owning something.

“People ask me about ‘your child’, ‘your daughter,’ I don’t really feel that sense of ownership that she’s ‘mine’. She’s her own person. She’s her own entity.

“What I do feel is a deep sense of stewardship, a deep sense of responsibility,” he said, adding this approach is what led him to want to find a new leader for his business.

http://vimeo.com/88634812

The new owner of Global Tolerance will have the opportunity to “restart” the company, which has been on sabbatical for a year after Cohen took time to look after his daughter.

He admits on his website that this approach is raising a number of questions, and will require someone with a sound entrepreneurial approach to take the reins with limited funds.

“It’s a restart, with the motor already running,” the website states.

Go here for the full description of the position.

And read more about the details and Cohen’s reasoning in a Q&A session.

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