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Growth Strategies for Independent Practitioners
1. “Growth Strategies
for Independent Practitioners”
Presented by PRSA’s Independent Practitioners Alliance
October 16, 2011
PRSA International Conference
Jennifer Heinly, MBA
Kelly Jackson Davis, APR
Natalie Ghidotti, APR
2. Section Membership
• Membership is open to any PRSA member
• 230+ members across the country
• Designed to meet the needs of practitioners working independently or in virtual teams
• $60 annual dues
3. Membership Benefits
Networking
• IPA E-Group on PRSA MemberNet
• Linked In and Facebook Groups
• Section event at PRSA International Conference
Website: www.ipa.prsa.org
• Blog
• Member Directory
• Section News and Announcements
• Resources and Information
Professional Development
• 90-minute teleseminars
• Half-Day Virtual Conference
• Master Class at PRSA International Conference
Vendor Discount Program
4. Vendor Discounts
DigiClips
• Broadcast, Print and Online News Monitoring Services
PressKit 24/7
• Discounts on online press kit technology, expert databases and online contact management
Critical Mention
• Real-time, web-based television search and monitoring service
eNR Services
• Discounts on tools for media monitoring and measurement, media outreach and strategic
planning
5. Section Executive Committee
Chair: Program Co-Chairs:
Jennifer Heinly Kelly J. Davis, APR
Foothill Ranch, CA Columbia, SC
Chair-Elect: Katie Coates-Ageson, APR
Natalie Ghidotti, APR Huntington Beach, CA
Little Rock, AK
Sponsorship Co-Chairs:
Secretary/Treasurer: Sara Platte, APR
Ann Videan, APR Honolulu, HI
Mesa, AZ
Carina Bustamante
Immediate Past Chair: Mexico City, Mexico
Jamie Meredith
Savannah, GA Communications Co-Chairs:
Barbara Nash, APR
Membership Chair: Madison, AL
Kristie K. Aylett, APR
Ocean Springs, MS Karen Yarbrough
Huntsville, AL
7. • Founded in Denver in 1989 as a sole proprietorship.
• Evolved today to a virtual firm with partners and
subcontractors. Still a sole proprietor.
• Why this business model works for me.
9. Evolution of Our Business
Model
• Started as sole practitioner in 2004
• Virtual Agency Model
• Team of other creative professionals
• Member of PRConsultants Group
• Acquisition of another PR firm
• Growth to Boutique Agency
10. Things to Consider
BUSINESS SIDE CLIENT SIDE
• Letter of Intent • Will clients move to new agency?
• Due diligence • How will you inform them?
• Accounting • How will you transfer files, knowledge,
• Legal plans, etc?
• Tax implications • Client maintenance and retention
• Contract • Billing, fee structures and client contracts
• Physical location
• Employees of the acquired company
11. Pros & Cons
PROS CONS
• Allows firm to grow • Location challenges (mail, etc.)
• Increase visibility • Take on the identity of the acquired firm
• Combine the strengths of both firms • Differences in work styles, personalities
• Enables addition of employees to • Employee issues
service more/larger accounts
14. Agency Strategic Partnership
• GC provides all PR services to ERI (and GC uses ERI for design work)
• Separate businesses, separate employees
• Base Pay + Profit Share + Overhead Arrangement (supplies, office space, etc.)
• Separate clients, though all ERI clients come under the ERI agency umbrella
• In essence, ERI is GC’s largest client
• PRConsultants Group membership adds a level of expertise to the partnership
15. What to Look for in an
Agency Partnership
• Similar values and work ethics
• Growing agency, yet not so big that there’s already an established PR department
• Creative minds
• Leadership opportunity where you guide the PR arm
• A willingness to be true partners – as business grows, must address the business arrangement to ensure
fairness for all partners
16. Pros & Cons
PROS CONS
• Mixed identities (GC and ERI names, email
• Stable accounts/ongoing business for addresses and business cards)
the independent • Insurance issues (employees with and
• Pulling together the best in the biz to without)
create a successful team approach • Risk of partnership falling through
• Can go for larger accounts that an • Harder to groom your own clients because
independent can’t typically do of the workload of the agency
• Creative like minds to bounce ideas
off and stay fresh
• Design/media services always
available for your clients from
people you trust
17. Jennifer Heinly, MBA
IPA Chair 2011
J&J Consulting
Foothill Ranch, CA
www.jandjconsulting.net
jennifer@jandjconsulting.net
@jenniferheinly
18. Kelly Jackson Davis, APR
IPA Program Co-Chair 2011
Davis Public Relations & Marketing
Columbia, S.C.
www.davispublicrelations.com
kelly@davispublicrelations.com
@davispr
19. Natalie Ghidotti, APR
IPA Chair-Elect 2011
Ghidotti Communications
Little Rock, Ark.
www.ghidotticommunications.com
natalie@ghidotticommunications.com
@ghidotti