Strategic Planning

Kraus: 3 Tips for PR Firms That Want to Promote Women, Spur Diversity

By Matthew Schwartz

When Margery Kraus founded APCO Worldwide in 1984, women didn’t predominate the PR sector—as they do these days—so there was little to no chatter throughout the industry about why it’s important to promote female PR execs to the C-suite. “I had to fight in a different way when I built my own firm because everybody …read more


Women, Leadership and PR

By Rick Gould CPA, J.D.

It’s a gap throughout PR field that could seriously damage the industry’s reputation if it doesn’t change its tune. And fast. We refer to the increasing number of women working throughout the PR profession—among both middle managers and senior account executives—but not necessary in the C-suite. According to the Bureau of Labor Statistics, women hold …read more


How to Integrate the Seller With the Buyer, Post-Sale

By Rick Gould CPA, J.D.

I am often asked why some mergers and/or acquisitions don’t go the way a buyer and/or seller originally thought. There are multiple reasons why a transaction may go awry, of course. For instance, the seller may have a different corporate philosophy from the buyer. Or there may be friction between the two sides regarding how …read more


5 Employee Retention Strategies

By Jon Hainstock

(This blog post is excerpted from an article that originally ran on ZoomShift.com.) Do you have an employee turnover problem? Nearly 70 percent of organizations report that staff turnover has a negative financial impact due to the cost of recruiting, hiring and training a replacement employee, according to the Bureau of Labor Statistics. Adding insult …read more


PR Firms as Parental Units

By Matthew Schwartz

It never fails. When you chat with PR agency owners and C-suite executives about their firm’s culture it takes all of five minutes before they assure you that the biggest asset is “We’re like a family.” Fair enough, but we know all too well that some families are closer than others, particularly when it comes …read more


A Bill of Rights for PR Firms

By Matthew Schwartz

Overservicing among PR firms doesn’t simply mean working for nothing. It’s a lot more costly. That’s because when your firm starts to expand client services—without being adequately compensated—it has a negative effect on the rest of the operation. Indeed, the repercussions for overservicing can make a bad situation considerably worse. Perhaps more so any other …read more


Valuing Your PR Firm ‘As If’ It Were Your Home

By Rick Gould CPA, J.D.

Your home has been good to you. You have invested a chunk of money into sprucing it up throughout the years and the work has paid off nicely. You are ready to sell. As you brace for a sale you remember that tiny crack in the wall near your bedroom and some chips scattering the …read more


The Holmes Report: Independent Shops Fueling PR M&A 

By Matthew Schwartz

The trend of independent agencies dominating the M&A landscape picked up in 2016 right where it left off in 2015. For the second consecutive year independent PR agencies took up most of the M&A space, according to an annual analysis of PR industry deal activity by The Holmes Report. The report, which was released late last …read more


Making Sense of Your Balance Sheet

By Rick Gould CPA, J.D.

For many PR firm owners and C-suite executives it’s often considered the management equivalent of getting root canal: Reading their balance sheet. While a growing number of PR firm owners have gotten more comfortable with reading their balance sheet, there’s still a lot to be desired in terms of owners having a solid grasp for …read more


PR Predictions for 2017

By Rick Gould CPA, J.D.

We were having drinks with a PR firm owner when we started talking about long-term planning. “It’s an oxymoron,” said the owner, stressing that the marketplace is so fluid these days that if PR firms get too far ahead of themselves planning-wise it could be downright counterproductive. The point is well taken. We can’t recall …read more