Start-up cost: $5,000–$10,000
Potential earnings: $35,000–$75,000
Typical fees: $50–$75 per hour; a bid-per-job basis could range anywhere from $500–$15,000 or more; a monthly retainer would be in the range of $1,000–$5,000
Advertising: Networking and personal contacts, speeches before business or community groups, volunteer work for non profit organizations, telemarketing, a high-end Web site with portfolio of client work and glowing testimonials
Qualifications: Strong communication and telephone skills, assertiveness and persuasiveness, ability to deal effectively with abstract concepts, high energy level
Equipment needed: Computer with Internet access, printer, fax, desktop publishing software, telephone headset, multiple phone lines with call-forwarding and conferencing features, office furniture, business cards, letterhead, envelopes, cell phone and subscriptions to online press release distribution and tracking services
Staff required: No
Hidden costs: Slow starting time; expect two years before profit
What You Do
As with so many other fields, the demand for PR is growing. At the same time, corporations are cutting their public relations staff s down to a few good, but extremely overworked, people. Work is definitely being farmed out, so public relations are ideal for a home-based business. Relationships with clients take time to develop, though, and depend in part on your network of contacts in the media. When a small company has a breakthrough new product, when advertising is too expensive, when an organization needs to get its message across to the public, or when a negative situation occurs that needs a positive spin, your PR services can be invaluable. To attract media attention and interest, you will need outstanding writing and speaking skills, a healthy dose of creativity, awareness if what the different types of media (trade journals, the nightly news shows, and so on) are hungry for, and an ability to put all the pieces together. It’s fun, yet tough to do well unless you’re an animal at networking with influential media types.
What You Need
A very well-equipped office is a must, and you will need to present yourself and your business at the level of polish and professionalism you are selling for your clients. Expect to spend at least $4,000 on your office and equipment; bill at least $50–$75 per hour for your expertise. Don’t forget to reserve some of your best PR work for yourself. Invest in some creatively produced collateral materials (brochure, business cards, and Web site).
Keys to Success
For creative, dynamic, and above all energetic people, public relations are a wonderful field. If you thrive on relationships with many different individuals and organizations and love the stimulation of constant change, you should consider making PR your business. As a solo practitioner, you’ll start with small projects and gradually expand your network and contacts to take on more complex projects. Not everyone has the skills and attributes to make a success of PR, although many people are out there trying. You will need to produce results. Realize that your business will take tremendous time and effort to grow. Marketing your own services must be a priority even as you complete one project after another for your clients. Media representatives can be fickle; getting publicity for your clients will require new angles and ideas each time to catch the media’s attention.
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