Many Type-A personality types find their way into entrepreneurship, lured by the idea of being the boss. And given the detail-oriented and creative nature of the public relations profession, PR entrepreneurs find themselves at the mercy of a double-edged sword. On the one hand, our Type-A /take charge/make it happen personalities allow us to get tons done.  But our somewhat control-freakish entrepreneurial tendencies also hinder us: we often keep our projects on a short leash.

But keeping projects close doesn’t serve us in the long run because we end up spending loads of time on mundane tasks that we can’t bill for.

Lately I’ve been pondering the subject of growth, and what’s needed to make growth a reality for a service-based entrepreneur.  For many public relations and marketing pros, and now social media specialists, not only are we charged with managing client projects from start to finish, but we’re also responsible for handling the day to day operations of running a business.  We’re the mailroom, accounting department and janitor. We are the community relations person and publicist for our  practice, and it falls on our shoulders to get the word out about the business. Read the full story

To say that economically, things are rough around here would be an understatement, and at this point also a cliche. For entrepreneurs, things are tougher than they once were, no question. But that’s not to say that there aren’t still opportunities for marketing and PR professionals to turn a profit.

It’s really tempting to get so excited about the prospect of a new client that you underbid yourself. Not to mention the dynamics of this recession. You might start thinking “Wow, things are really tough right now, and I’m sure they can’t really afford my normal rate. We’re in a recession. Let me lower my fees, so that I can close the deal, just this once…”

But you’re never going to turn a profit if you don’t get paid what you’re worth. And you can’t get paid what you’re worth if you hedge every time someone says they can’t afford you. Furthermore, that will really come back to bite you once this recession is over. Your clients (who didn’t know you were doing them a favor) will think that you’re only worth the peanuts that you charge.

Scenario: You meet with a new client. You absolutely love them. They love you and you’re both giddy about working together. You promise them a proposal/quote for your services and they tell you they’re looking forward to it. You go home, happy and start slaving over the proposal. You painstakingly detail the scope of work and deliverables. You decide how long all of this will take, outline the budget and break down your fees. You submit the proposal and wait. Read the full story