Starting a Public Relations firm can be a very exciting endeavor, but one that will require you to coordinate employees, clients, and the media in order to achieve success. Many people consider the entrepreneurial route, but it is a risky road to take, especially if you don't set yourself up for success. You don't have to sell a unique product, but you should offer a one-of-a-kind service.

Anyone can start public relations firm services with the right attitude and financial backing. Competition will be fierce. You can't expect to put your feet up because it's your own business. On the contrary, you should expect to work very hard in the beginning. Before quitting your full time job in the hopes that you become your own boss and launch public relations services in your area, ask yourself the following:

1. Are you committed? It takes more than just a good idea to launch a public relations agency. It takes time, money and hard work.

2. If applicable, do you have the right partners? Friends are not always good business partners. Vet potential partners as objectively as possible.

3. Have you done your research to make sure there's demand for your product or service? You may have a great idea, but how many others have the same idea?

Action Steps
The best contacts and resources to help you get it done

Start public relations business with credibility and get licensed

All businesses are legally required to obtain some type government license. Other official documents include seller's permits, federal and state employer tax ID numbers and trade name certificates. There are many online resources and state departments that can help you file these documents.

I recommend: The Internal Revenue Service will help you in obtain an employer tax ID number for your business. Business.gov can help you get the necessary federal, state and local permits, licenses, and registrations for starting your business successfully. Use their “Permit Me” tool for efficiency.

Join an association and build industry credibility when you launch a public relations service

As a new business owner, you don't have to go it completely alone. Consider joining an industry association for support. PR organizations bring together professionals with the same goals and challenges. As a member, you'll have access to certification and educational opportunities, not just for you, but for your employees. In addition, you can stay abreast of upcoming networking events, so you can meet industry peers, vendors and suppliers.

I recommend: The Public Relations Society of America includes podcast boot camps, seminars as part of its professional development program. The Council of Public Relations Firms features an online events calendar that offers networking opportunities, including forums, summits and committee meetings.

Partner with reliable employees when you open public relations business

As a business owner, it's imperative that you partner with employees who will contribute to your success. Your employees must be reliable, accommodating and thorough. You want to build a long-term relationship with your staff, and they must also share your interest in pleasing your clients.

I recommend: O'Dwyer's Public Relation News and WorkinPR.com both provide a forum where employers can search for candidates interested in the PR field. You can search resumes, post opportunities, and create an employer account for quick and easy online recruiting efforts.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  When you first open PR agency services, you may decide to balance your own finances. But as your business grows, consider partnering with an accountant who can help you with tax issues and assist you in building a financially sound company.

Publicists are a unique breed. They tend to be extroverted people who can talk to anyone about anything. If you have the gift of gab and a background in communications, a start-up PR firm can be an excellent small business to start. It requires low start-up costs and can grow rapidly from one client to ten. Although starting your own boutique PR firm can be a low-maintenance endeavor, staying in the public relations business takes tenacity and patience. But the results can be worth it. Before you embark on your business plan, make sure you:

1. Have an existing client base or choose your target base by size, geography or industry.
2. Make media contacts by inviting local editors and producers to coffee or lunch and asking how they choose their stories.
3. Join industry groups that provide continued education opportunities and resources.

Action Steps
The best contacts and resources to help you get it done

Make friends, influence people

The key to being a successful publicist is the quality of your media contact list. Build up local as well as national media contacts that cover the industries that you plan to service.

I recommend: Bacon’s Information provides access to information on hundreds of thousands of journalists and editorial opportunities that will help you get targeted results for your clients.

Join public relations industry associations

Joining the right public relations association can put you in contact with other agencies that outsource work to partner agencies. Associations also keep you up-to-date with industry tradeshows, awards competitions and trends.

I recommend: Look into which organization fits your needs; the Council of Public Relations Firms, the Public Relations Society of America and the League of American Communications Professionals.

Media service companies

Familiarize yourself with several news service organizations that allow you to reach large segments of your target media, from internet media organizations to television, radio, consumer magazines and newspapers.

I recommend: PR Newswire allows you to post press releases that target thousands of journalists and trade media outlets. The Gift List provides targeted listings for media contacts including their editorial needs for each gift season. Find additional press release services at Business.com.

Set up your office systems

Before you get started as a flack, you’ll need to set up your software systems and set prices and services.

I recommend: Learn how to price your services, prepare new customer proposals and set up your office systems in the FabJob’s Guide to Become a Public Relations Consultant. To set up your software systems, check out the Business.com list of public relations software providers. PR Tools bundles PR templates, “how-to” guides and resources on one CD. Tools are available in a variety of formats including Word, PDF, Excel, Visio, and PowerPoint.

Subscribe to trade magazines

Keep abreast of industry trends by subscribing to at least one PR trade magazine.

I recommend: PRWeek is the primary trade magazine for the PR industry.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Join your local Chamber of Commerce to get instant access to small business owners who know the importance of good public relations.
• •  While writing your business plan, decide how you will charge your clients—by monthly retainer, project-by-project or hourly.
• •  When finishing an assignment, make sure to provide a results report of what media were contacted and the placements that were achieved. Often times public relations is the first item that is cut on a budget. By providing measurable results, you increase your chances of being retained or rehired for the client’s next project.

Every successful business needs a great marketing strategy, and behind every great marketing strategy should be a public relations firm, or PR firm for short. Public relations firms are more in demand than ever, as businesses have found new markets on the national and international level as a result of new media like the Internet. Starting a public relations firm key terms is the best place to start when considering the launch of a new PR business.

Action Steps
The best contacts and resources to help you get it done

Start-up capital

Start-up capital is the money required for everything needed to start-up a business; minimal capital required for a home-based PR firm is between $3,500 and $11,000 for a computer, printer, fax machine, cell phone, office furniture and a marketing budget.

I recommend: Read more in-depth about what is required to start a home-based PR firm in Entrepreneur Magazine.

Fee structure

A fee structure is the breakdown of charges for specific services performed by a PR firm for a client. The right fee structure is a key to success for not only PR firms but any service-based business.

I recommend: Watch a video on AllBusiness.com on the importance of establishing and sticking to a standard fee structure for a PR firm.

Revenue goals

A revenue goal is the amount of money a business would like to see come into a business, within a predetermined amount of time, and is a very important part of a PR firm business plan.

I recommend: TransMedia Group offers a comprehensive article that includes information on the importance of revenue goals to a PR firm.

Publicity goals

Publicity goals are standards for achieving certain levels of publicity through specific media outlets by a PR firm, but are different for each publicity campaign and need to be pre-determined by both the PR firm and the client.

I recommend: An article on JLMandAssociates.com on successful PR strategies includes some examples of publicity goals.

Press releases

A press release is an announcement of an event, performance or other newsworthy item that is issued to the press by a PR firm.

I recommend: PR Web offers a detailed explanation of what makes a successful press release, as well as press release tips and advice.

Media contacts

Media contacts are business relationships with members of the media that have the power to get publicity for a client through media outlets, such as radio, television or print. Developing media contacts is one of the most important determinants of success for a PR firm.

I recommend: Look through the guide on MediaCollege.com for finding and using media contacts.