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Most entrepreneurs at some point experience crises in their businesses, which require crisis communication strategies. The key is developing a crisis management strategy that is up-front about the problem at hand and also focuses on maintaining the firm's long-term viability.
Quality public relations is not a tactic but is an essential part of entrepreneurial success. Investing in public relations builds "return on reputation" (ROR) along with your products' "return on investment" (ROI) to build company value for the long term.
When the author's company was selected to host an event featuring the President of the United States, a lot of hard work was required to pull it off. The PR benefit of hosting such an event, however, was a critical factor in helping fuel the company's continued growth.
Publicity is known as "free advertising" but can be expensive in terms of the time and resources you invest. This article will discuss how to make publicity work for you.
Your basic business strategy and product plan needs to be rooted in an understanding of what it takes beat the competition. To do so, this author says you must have a realistic understanding of what you are up against, and he lays out a method to do smart market research.
Understanding your industry, competitors, and customers is necessary for any entrepreneur. Primary research helps gather specific data, but secondary market research is also helpful. This article outlines fundamental, secondary research resources, which are either accessible online or at your local library.
The author illustrates how a vigorous public relations campaign-more than any marketing effort-helped establish her company's growth track, especially through publicity of the entrepreneur herself and her firm's board of directors.
Shannon Henry, former writer of The Washington Post's "The Download" column, gives advice as a journalist to entrepreneurs about working with the media to generate publicity. This includes researching the publications you're interested in and making sure to give reporters a "news hook" about your firm.
Carving a niche in a specialty business entails listening to customers for specific needs and becoming known in the industry as an expert or insider, says the cofounder of a broker-dealer that serves credit unions.
While it is true that large companies always can afford full market research programs, entrepreneurs running growing companies should know there is a vast array of data and information that can be obtained at little cost and time.
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