For Small Business, Public Relations (PR) is Critical, But Don’t Get Carried Away

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Public relations is very important, without question.  However, as the late 1990’s and other highly hyped periods have proved, “sizzle” alone does not do the trick.  Similar to the absurdity of valuing a company based on a multiple of eyeballs or clicks, was the phenomenon of Internet companies thinking that had become successful when the company CEO was interviewed on CNNfn or CNBC.  In fact, the CEOs I saw that were obsessed with this sort of exposure seemed to be more focused on their own personal fame and coverage, than on the success of their companies.  They were building their “empires” with other peoples’ money, and trying to make themselves famous in the process.  Ego played a very large part in this whole drama, of course.  Don’t allow yourself to be sucked into such pursuits.  Rather, if you’re going to use PR (and you should), use it responsibly, as an augmentation of your traditional sales and marketing program.  Use PR aggressively, as it often has higher credibility than advertising you pay for, and it (sometimes) costs you less cash.  But use it responsibly, and don’t believe that your work is done when you start receiving high-profile media coverage – it has only just begun.

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Paul is a serial entrepreneur, strategic and risk management advisor, marketer, speaker and coach who has dedicated the majority of his career to entrepreneurship, leadership and peak performance. Paul has worked with various entrepreneurial companies in senior management roles and has led the development, review, and selective implementation of several hundred start-up and corporate venture business plans, financial models, and feasibility analyses. He has performed due diligence on and valuation of many potential investment and acquisition candidates. Paul was also the Director of a consulting operation in Wharton Entrepreneurial Programs and holds a Bachelor of Science degree in Economics and an MBA from the Wharton School of the University of Pennsylvania. Paul has lived, worked, learned and traveled extensively in Latin America, Europe, and Asia and speaks and writes English, Portuguese, and Spanish.

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