| |
| |
|
Small Business Information |
|
|
|
Public Relations: Antidote for Small Business Failure
When small businesses fail, the wreckage is often assigned to undercapitalization, among other mistakes. Seldom is failure attributed to a lack of effective communications that might have modified the behavior of sales prospects in a positive way, thus averting bankruptcy. In my view, raising money for new businesses is a skill best left to others, but smart, aggressive communications is not. As the entrepreneur, you cannot rely on your financing source to create the broad public exposure your business needs if it is to survive. Ideally from Day 1, you must take the lead in this vital effort accepting the fact that good results come only after careful planning and implementation of a realistic and workable public relations strategy. Before you achieve real growth and prosperity, your target audiences must not only become aware that your company exists, they must be motivated to take action. Doing something about how your business is perceived means a well-planned public relations program that can reach, persuade and move those prospects to action. At the root of it all, is a simple truism we all know but tend to forget: people act on their perception of the facts. If the small business owner is to have an effect on those perceptions, he/she must deal with them promptly and effectively. So the question for you, Ms. or Mr. Small Business Wannabe, is, have you thought about some of the unattended perceptions out there that could nudge your fledgling business closer to bankruptcy than success? Perceptions that, if left unattended, may well result in actions that run counter to those you and your banker may desire? For example: * If sales prospects are unaware of your product or service, you will not get them as customers. * And if those customers don't remain convinced of the value of your product or service, you lose them. * If employees believe you don't care about them, productivity suffers. * If a minority person believes you discriminate when you don't, a host of unnecessary problems may ensue. * If community residents don't perceive your business as a good place to work, you have employee hiring and retention problems. * If insurance carriers perceive you as a bad risk, they don't provide the business coverage you need. * If journalists are suspicious of your motives and you don't convince them otherwise, you get "bad press." * If business people believe what some competitors say about you, that joint venture you want so badly may not come about. * And, as you grow bigger, if government regulators believe your products are not completely safe, sales will almost certainly be negatively affected. Obviously, small businesses have limited resources. Still, there are certain cost-effective activities you can undertake to reach your target audiences. And considering the survival nature of this topic, while some expense is involved, you may wish to research nearby public relations professionals willing to partner with you during the early days of your enterprise. Together, you may move in this direction: First, rank your external audiences as to importance. For example, #1 customers; #2 prospects; #3 employees; #4 local and trade media; #5 your local business community; #6 community leaders, and so forth. Second, as time permits, interact with members of each audience and jot down their impressions of your business, especially problem areas. This will help you set your public relations goal. Third, prepare tailored messages that not only provide details about your product and service quality and diversity, but address problems that surfaced during your conversations. Fourth, consider the most effective means for communicating each message to each audience. This may include everything from simple meetings, briefings and news releases, to media interviews, facility tours and special promotional events. How will you know that your efforts are changing perceptions for the better? Over time, you should notice increased awareness of your business, a growing public perception of the role your business plays in the community; and, of course, growing numbers of prospects. Such results are tracked by speaking on a regular basis with people among each of your key audiences, by monitoring print and broadcast media and by interaction with key customers and prospects. Remember what is at stake - nothing less than the survival of your business! So, keep an eye on what's most important, and remember that people in your community or marketing area behave like everyone else - they take actions based on their perception of the facts they hear about you and your business. And that means you must deal promptly and effectively with those perceptions by reaching and persuading them to your way of thinking, thus moving them to take actions that lead to the success of your business. Please feel free to publish this article and resource box in your ezine, newsletter, offline publication or website. A copy would be appreciated at bobkelly@TNI.net. Robert A. Kelly © 2005. Bob Kelly counsels, writes and speaks to business, non-profit and association managers about using the fundamental premise of public relations to achieve their operating objectives. He has been DPR, Pepsi-Cola Co.; AGM-PR, Texaco Inc.; VP-PR, Olin Corp.; VP-PR, Newport News Shipbuilding & Drydock Co.; director of communications, U.S. Department of the Interior, and deputy assistant press secretary, The White House. He holds a bachelor of science degree from Columbia University, major in public relations. Visit: http://www.PRCommentary.com; bobkelly@TNI.net
MORE RESOURCES:
Small-Business - Google News |
|
|
|
RELATED ARTICLES
Joint Venture Your Way to Extraordinary Sales! You know what makes me really happy? Drinking a Starbucks latte while doing my grocery shopping at Safeway. Getting my Godiva fix at Barnes & Noble. Common Sources of Financing for Small Business The choice of financing is an important determinant of whether a product reaches the market, or whether an existing business can survive. The choice of financing is an important part of being an entrepreneur and business owner, and the ability to raise cash when you have no or limited history takes skill and creativity. Grants vs. Contracts Commonly folks have asked me what the technical difference is between a contract and a grant. The difference is not about the dollar value or who the buying entity is nor the kind of work being done. How to Give Informative Talks Why should you do informative talks to smaller groups?Informative talks to smaller groups allow you more intimacy with the audience. You will be able to more closely connect with their needs and their responses to your speech. Arranging Your Fundraiser When deciding to host a fundraiser for your company or organization there are many fundraising ideas available to you for choosing. The most popular fundraising ideas range from chocolate, magazines and candles to candy and much more!When picking your fundraising product be sure to pick a product that will have a good mark up and will be an easy sell. How to Profit from Business Consulting Opportunities Business consulting opportunities might be just what your are looking for in a home based business.What do you do? Do you possess a mastery of your career? Are you articulate and able to convey ideas clearly? If so, you may be the perfect candidate for providing business consulting services. Outsourcing and Virtual Assistants: Small Business Saviors Work smarter, not harderWhat is one of the best ways to work smarter without working harder? The answer is outsourcing. Whether you need occasional or ongoing assistance, outsourcing can save you money and time. Where Can People Find Information About Starting A Business? Approximately 200,000 new businesses are started each year. More people are expected to start a business for themselves this year than ever before. Top 10 Lessons for Small Business Success - As learned From My Twin 3 Year Olds Small business success is very similar to learning to walk, talk and spell. The basics have to be understood before moving on to the next step. Are You a Small Business Casualty? When a person knows and knows not that he knows. Teach him. 5 Tips for Hiring a GREAT Bookkeeper Bookkeeping?the "dreaded" word is something we all have to worry about. Business owners rarely go into business to deal with the financial aspects of running a business. Designing a Franchise Training Program If you intend to franchise your company you will need to design a bullet proof training company for your new franchisees. This is above and beyond the training program you will design for them to administer to their new employees. ADH Will Make Your Life More Productive & Your Life More Profitable What is a Virtual Assistant?? A Virtual Assistant is that indispensable element of your office staff - a professional that provides high quality administrative services in a highly scalable, value added format.? A Virtual Assistant is not an employee of your company, but rather an independent 1099 contractor who can work either by the hour or by retainer. Will Adding a Car Wash to Your Fast Lube Add Additional Crime to Your Facilities? Car Wash Crime in the Hood. Apparently not everyone is with us and certainly not everyone considers this to be a clean business. Obtain Maximum Results For Your Small Business Through Better Time Management Most small business owners are faced with so many responsibilities and an unbelievable workload throughout the day. Mainly because of the many different roles that we have to play. How Do I Choose The Right Business Opportunity For Me? First you have to start with knowing your budget and how much you can afford to spend on a business opportunity. There are ways of starting a business opportunity online for as little as $50 as an affiliate; this figure goes all the way up to $1 Million dollars with a McDonalds restaurant. FTC Adding to the Franchise Rule Last summer the FTC put forth a report and then asked for comments on modifications of the franchise rule. There has been no real significant changes since the 1970's, but lots of opinions and case law along the way. Growing Your Small Business Through Alliances and Joint Ventures -- Beyond Cold Calling, "Warm" Calling and Sending E-mails --Many Solo Entrepreneurs work from a home office. Our only connections to the outside world are the internet / e-mail and the telephone. Bad Regulators Cost Small Businesses When a regulator finds a target to go after to collect fees to insure next years budget, often it is a small business. In fact the definition of a small business includes what normal people might even think of as a medium sized business. Starting a Small Business: Balancing Risk and Reward In a perfect world, starting a small business would be risk free, but just as with everything else; the degree of risk determines the value of the reward.According to the National Commission on Entrepreneurship, at any given time, 6% to 9% of the United States adult population is involved in planning for a new business.
|
|
|
|
|
