PPP Lesson Learned: Build a Solid Banking Relationship

Our three surveys on the financial impact of the coronavirus crisis made one insight clear. Whether it be a global, national or regional bank is not what matters. What matters is that it be with a bank and banker that knows you, that knows your firm, that understands the cash needs and seasonal flows of your…
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Surviving the New Recession

The U.S. business world is facing a plunge into unchartered waters. None of us can foresee the bottom or estimate the number of months it will take to rebound. As the PR industry decides the best course ahead, I’ll offer some suggestions based on benchmarking the industry for the past three decades of good times…
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Managing Employees Working Remotely

With the coronavirus pandemic, many employers are having their staff work remotely to avoid spread of the virus. Managing remote employees is a new phenomenon for some, so here are some guidelines that may be helpful. Be certain that your team understands that their role remains unchanged, and the same metrics of success still apply….
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Looking Back 20 Years in 2020

It was June 2001. Google was just a pup and Facebook and Twitter hadn’t yet been born. People were still consuming and advertisers were still purchasing print media. As far as creative services firms were concerned, buyers had a clear delineation between marketing and PR shops. June 2001 was also when I sold my CPA…
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Post-Merger Integration Plan Critical for Long-Term Success

The PR transaction has closed. The buyer wires a multi-million-dollar transfer into the seller’s bank account. The staff members of both buyer and seller are notified. The press release announcing the deal has been distributed across the business wires online, sprinkled with quotes regarding a “win-win” for both firms, and, naturally, “new digital and marketing…
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Because of 4 a.m. – The Excellence of Kobe Bryant

This blog was posted by my friend & colleague, Dr. Aerial Ellis, regarding the tragic helicopter crash death of Kobe Bryant and his 13 year old daughter, Gianna. I believe Dr. Ellis sends a valuable message to all of us.- Rick Gould  Excellence is the result of a prosperous, well-lived and fulfilled life. The excellence…
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What PR Firms Can Learn From the WeWork Debacle

Several years ago, I was a guest speaker at two WeWork “Lunch & Learn” seminars, discussing mergers and acquisitions and strategic planning to a diverse group of businesses gathered at the office-sharing company. I was impressed with the WeWork model. It was a collaborative, fun environment, encouraging people to network and cross-refer business opportunities. The…
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PR Agency Valuations are Worth the Investment Now More than Ever

Some things never change. Almost five years ago there was chatter in the PR space that agency valuations are not worth the time and money.  At the time, I vigorously disputed the notion and explained in great detail why that’s a bad idea. Unfortunately, those comments by the same individual have reemerged, and I feel…
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3 Reasons Why PR Firms Should Hire a Financial Watchdog

The news that a former PR executive has been arrested and charged with defrauding his last two firms in excess of $2 million should serve as an alert for PR agency owners who want to get a better grip on their internal control & expense reimbursement practices and avoid becoming victims of employees who cross…
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Recession-Proofing Your Firm before Recession Strikes

Although no one at this moment knows for certain it will happen, the press is actively talking about the possibility of a large downturn in the economy over the next year or so. If it occurs, it will likely be a recession, which would have a major impact on the continued success of most public…
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Bigger is Better – But Not “Too Big”

We have been consistently advising PR Agencies to grow their top line for maximizing value, as long as they maintain bottom line consistency, targeting 20+ percent. But there is a footnote to this advice. Being “too big” may actually decrease the payback. The sweet spot for PR firms has been the $10-$25 million net revenue…
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