Tuesday, May 19, 2020
Smart Advice
This column offers smart advice for PR practitioners who might be thinking of going out on their own. Avoid debt and acquisitions that don't directly increase your revenue from clients. One doesn't need a fancy desk, an office suite and a receptionist until big enough to need them for client service. I recall a practitioner who told me he had gone out on his own, rented a plush office suite and promptly ran out of money. He went broke and bankrupt. He understood with hindsight that he shouldn't have done what he did, but it was too late. This was a man who had demonstrated skill to build accounts and keep clients happy. It was sad to see him working in an office as just one more "hired hand." It is hard to give up the amenities of an established organization, but those who want to make it on their own understand quickly that they must. There is always a temptation to buy "stuff" that will make one's life easier, but don't do it unless it directly helps in generating revenue.
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