Managing a Public Relations Firm for Growth and Profit

Foreword xiii Thomas L. Harris Preface xvii PART I: INTRODUCTION---THE REAL WORLD OF PUBLIC RELATIONS FIRM MANAGEMENT What Is a Public Relations Firm? 3(8) Is It a Firm or an Agency? 6(1) On Being Successful 7(1) Your Basic Responsibilities 8(1) Marketing and Managing Your Firm 9(1) Profile 1: Cathy Ackermann 10(1) What Is an Agency Principal? 11(16) Professional Experience and Skills 12(2) Personal Dedication and Resiliency 14(1) Management Interest and Skills 14(1) Marketing and Sales Interest and Skills 15(1) Take the Good with the Bad 16(2) The New Business Game 18(1) PR Firm Principals I Have Known 18(2) Things You Should Never Say 20(1) The PR Agency Principal's Prayer 21(2) Profile 2: Richard Blewitt 23(4) PART II: MARKETING YOUR FIRM FOR GROWTH Anatomy of an Agency Search: How the Game Is Played 27(12) The Beginning 27(1) The Situation 27(1) The Search 28(9) Another Ending 37(1) Footnote 37(1) Profile 3: Joe Boyd 38(1) Developing a Marketing Plan 39(14) Assess Agency Strengths and Weaknesses 40(1) Evaluate Service Potential 40(1) Examine Market Potential 41(1) Consider the Profit Potential 42(1) Analyze Competition 43(1) Develop a Unique Strategic Position 44(2) DNA Branding for PR Firms 46(2) How Does Your Firm Stack Up? 48(3) Profile 4: John Charleston and Lyle Orwig 51(2) Communicating to Prospects 53(18) Be Visible 54(1) Write and Speak 54(1) Treat Employees and Applicants Well 55(2) Use Business Contacts 57(1) Communicate Regularly 58(1) Focus Your Marketing Program 59(11) Profile 5: Herbert Corbin 70(1) New Business Rules 71(8) Croft Rule Number One: Never Work in the Dark 71(1) Croft Rule Number Two: Never Put Your Prospect to Sleep 72(1) Designing a New Business Campaign 73(2) Self-Marketing Campaign Elements 75(2) Profile 6: Roger Fischer 77(2) New Business Secrets 79(24) Ten Ways to Build Business 79(1) How David Can Beat Goliath 80(3) Seven Secrets to Sell Service 83(1) Questions to Ask Prospects 84(2) The Killer Questions That Prospects Ask 86(2) Ten Ways to Ruin a New Business Presentation 88(3) Mistakes That Prospects Make 91(1) Things I've Learned About Successful Agency Pitches: Tom Harris's Secrets 92(2) Ten Reasons Why PR Should be Part of Every Marcom Program 94(1) Benefits Provided by a PR Firm over Internal Staff 95(2) Twenty-Five Reasons to Walk Away from a Prospect 97(1) What About Those Clients You Can't Stand---Do You Need Them? 98(2) Profile 7: Michelle Flowers 100(3) New Business Singular Truths 103(10) Truth Number 1: The First Encounter with a Prospect Is Critical 103(1) Truth Number 2: A Prospect's Agenda May Not Be As It Seems 104(1) Truth Number 3: The Importance of Culture Compatibility Cannot Be Overestimated 105(1) Truth Number 4: The Prospects' Priorities Are Seldom the Same As Yours 105(1) Truth Number 5: You Must Be Able to Accept and Bounce Back from Rejection 106(1) Truth Number 6: Be Patient---Winning New Clients Takes Time 107(2) Profile 8: Tom Gable 109(4) PART III: MANAGING YOUR FIRM FOR PROFIT Serving the Client 113(18) What Do Clients Want? 113(1) Providing Outstanding Client Service 114(2) Client Service Audits Provide a Record of Achievement 116(3) Measuring Client Satisfaction 119(1) Keep Satisfaction Surveys Simple 120(2) Understanding the Prospect's/Client's Needs 122(3) Establishing New Accounts 125(2) Dealing with People Who Always Want a Deal 127(2) Profile 9: Steve Haweeli 129(2) Management Strategies for Success 131(10) Develop a Practical Long-Range Business Plan 131(1) Establish Reasonable Realistic Growth Goals 132(1) Develop a Strategic Position or Market Niche 133(1) Conduct an Ongoing Marketing Program 134(1) Establish a Reputation for Innovation, Creativity, Strategic Savvy, and Meaningful Results 134(1) Encourage and Ensure High Staff Productivity 135(1) Track Individual Client Profitability 136(1) Charge a Fair and Adequate Price for Your Services 137(1) Control Costs 138(1) Use Your Time Efficiently and Productively 138(2) Profile 10: Jonni Hegenderfer 140(1) Managing Time and People 141(12) Prioritize Problems and Opportunities 141(1) Do It Now 142(1) Deal with Paper 142(1) Use Time Well 143(1) Manage Staff Productivity 144(1) Allocate Staff Resources 144(4) Delegate Responsibility and Authority 148(3) Profile 11: Anne Klein 151(2) Systems and Procedures 153(28) Client Agreements 153(5) Establishing Client-Agency Expectations 158(2) Relationship Covenant 160(1) Technology in PR Firm Management 161(2) Cost Accounting ``The Gospel According to Harry'') 163(1) Time Reports 164(2) Time and Billing Systems 166(4) Setting Hourly Rates 170(3) Reporting to Clients 173(2) Agency Performance Audit 175(2) Ratio Analysis: A Measure of Firm Solvency 177(2) Profile 12: Marina Maher 179(2) Forecasting Income and Managing Profitability 181(26) Forecasting Factors 182(1) Managing Profitability 183(1) The Five Most Popular Ways to Lose Money 184(4) Live Within a Realistic Budget 188(2) Tracking Profitability 190(9) Universal Rates Universally Unloved 199(3) ``We Have Met the Enemy and He Is Us'': Pogo's Warning 202(3) Profile 13: Phil Morabito 205(2) Client Budgeting 207(8) The Client's Needs 207(1) Surprises Kill a Budget 208(1) The Ten Biggest Budgeting Pitfalls 209(1) The Budgeting Process 210(3) And in the End 213(1) Profile 14: Carl Mueller 214(1) Recruiting, Training, Retaining Employees 215(30) Hiring Smart 215(3) Recruiting Good Employees 218(5) Ten Questions to Ask to Find Good Employees 223(1) Twin Mistakes Agency CEOS Make 224(3) Flushing out Good Candidates with a Testing Service 227(2) Training, Motivating, and Retaining Employees 229(9) Professional Employer Organizations Come of Age 238(6) Profile 15: David Paine 244(1) Managing Good and Bad Times: Growth and Recession 245(12) Systems to Help Manage Expansion 247(2) Resource Allocation Matrix 249(1) The Philosophical Approach 250(1) The Bad Days Cometh 251(4) Profile 16: Steven Parker 255(2) Crisis Planning for PR Firms 257(10) Disaster Planning 257(4) Dealing with the Loss of an Owner 261(2) When Employees Violate Noncompete Agreements 263(2) Profile 17: Bob Schenkein 265(2) The Rise of Procurement and the Fall of Profits: Winning in Procurement-Led Buying Processes 267(8) A Bit of History 267(1) And Even More Recently 268(2) Winning in Procurement-Led Buying Processes 270(3) Profile 18: Andy Stern 273(2) Fiscal and Physical Checkups 275(6) End of Year (Probably December) 275(1) First Quarter 276(1) Second Quarter 277(1) Third Quarter 277(2) Profile 19: Mike Walker 279(2) Planning the Future of Your PR Firm 281(12) Mergers and Acquisitions 281(6) On the Other Hand 287(1) Profile 20: Bob Walt 288(1) And In Conclusion: New Year's Resolutions 289(4) Index 293