PR firm owners do many things exceptionally well. They create unique and effective campaigns for clients to drive earned media, which is becoming increasingly vital in the media-marketing ecosystem. They put out brush fires before they turn into full-blown crises. They pitch stories to the right reporters to get their clients’ messages in front of the right audiences.
But when it comes to how to spike profitability, drive valuation and reduce overservicing, most PR firm owners face huge challenges. They get the “creative” aspects of their role, but often are overwhelmed by the financial aspects, and many owners look upon improving their balance sheets and P&Ls as the business equivalent of getting root canal sans anesthesia.
Failing to put their financials front and center can cost PR firm owners dearly. It retards growth and stifles valuation, so if and when owners are ready to sell they may find themselves wanting for buyers. But even if they have absolutely no intention to sell—and are in it for the long haul—owners need to change their mindset so they have a laser-like focus on growing their top and bottom lines and improving their net worth.
That’s where Gould+Partners “BUILD TO SELL” Program comes in.
Our proprietary program is designed to help PR firm owners strengthen their financial management and perfect their checkpoints on billing and utilization—just two of the key elements for running a profitable PR firm.
By signing up for the management coaching program we’ll help your firm fine-tune the keys to profitability and valuation. We focus on the following areas:
- Net Revenue
- Labor Costs
- Operating Costs
- Billing and Utilization benchmarks and goals
- Reducing Overservicing
- Key Executive Retention
- Financial Statement presentation
- Legal protection
- Exit Planning & Increasing Seller’s Appeal to Buyers
- M&A Process
Markets are fluid. Opportunities abound for PR firm owners. But they won’t be able to capitalize on them unless they dramatically improve their financial management. Our “BUILD TO SELL” Program is the key step toward making that happen.
If you are interested in taking control of your firm’s financial management and maximizing value to your firm we would love to talk to you.