I have always been a tremendous believer in niche marketing, both vis a vis building my business and day to day client work.

Last night I attended a religious event that reminded me of this fact.   The crème de la crème of young, wealthy Hebrew speakers in the US came out for an intimate 8-hour dinner last night, followed by a 5 hour ceremony today.  Meeting very successful people who believe in similar ideas and come from similar backgrounds as me, I felt the credence and value of niche marketing.

My firm develops a significant portion of business among niches.  For example, we are the only top 50 PR agency owned by anyone under the age of 45, so we focus on 45-and-under business owners.  We have grown quickly by becoming expert in many unique niches, whether the urban marketplace, a targeted mom and baby division, our extensive representation of physicians, a cache of beverage brands, or Israeli-owned businesses.  Of course, we also do a ton of generic business, but often times, winning accounts is about knowing about which niche of brands (or business owners) you can win, and positioning yourself as the leading expert in that niche.

While they may be smaller in comparison to the mainstream marketplace, many different niches taken together add up quickly.  Even without the benefits of economy of scale, profit margins can be higher.

Ronn Torossian

5W PR

Being a boss and owner of a company is a huge responsibility, one which requires being tough and making difficult decisions regularly.  To this day, employing 75+ people is major pressure.

Today I received a call from a major crisis client, one who pays us a major fee solely to keep his company out of the media.  He urged me (to put it mildly) to tell a reporter in no uncertain terms to screw off.  This reporter was poking around endlessly, telling people half truths and straight-out lies about our client in an attempt to get sources quoted for a story.  A previous story by this same reporter had no named sources and many allegations.  I understood why this client was very upset.  So, of course, I harshly approached this reporter, instantly turning into “the bad guy.”  He was poking around in a kind way, and once we got tough, we were the “bad guys.”

Whether it’s (soon to be) President Obama banning reporters who didn’t endorse him from his plane, or the Fox News PR machine being harsh on critics, often times tough PR people are portrayed as not knowing how to deal with the media.  But in fact, these “tough guys” are perhaps the most effective PR people when it comes to difficult issues.

Same goes with owning a business and running a company: being tough isn’t easy.  But it doesn’t mean that there isn’t a modicum of fairness.  Being fair is vital to being tough, both as a business owner, and particularly when it comes to issues and crisis PR.

I complain sometimes to my closest outside business advisor about how difficult it is to run a business.  He reminds me, “If it was easy, everyone would do it, and everyone would be successful.”

Ronn Torossian

5W PR

These past few weeks have been tremendously busy. Case in point: I ate my breakfast at 5:30 p.m. twice in the last week. These are trying times as an entrepreneur, and they require more focus than ever before. Demands on one’s time and on every penny a PR firm charges a client for results require PR professionals to be even more attentive than usual.

As a business owner, I’ve learned — and now understand more than ever before — how easy it is to criticize. (As my closest friend constantly says, “The boss is always an asshole.”) The longer I am in business, the more apparent that is.  I have always been a person who believes one’s energy and aura influences them, which is why a few fellow under-40 entrepreneurs and I have been rotating offices for dinner once a week (Monday night till after midnight) to review business planning, concepts, ideas, and of course, due to this environment, problems. Sharing with people who understand management as entrepreneurs as well as those who strive for more and refuse to lose are people I need to be surrounded by. Business 101 tells us to always surround yourself with people whom you enjoy and respect.

Separately, as a PR professional, I’ve seen the media so consumed by the economy and the election that it has forced all PR professionals to — at the very least — do their best to adapt their pitches to an environment that has little space for anything other than the most pressing news. There are many new angles to consider and focus on, and as the media landscape continues to rapidly change, the challenge as a PR agency is to stay ahead of the curve.

Last, as my assistant noted earlier today, my blog would be so much more fun if I wrote down more details regarding my day, but secrets can’t be told. That said, here are a few highlights of a whirlwind day:

-Started the day by dining at a NYC power breakfast location with someone who is sure to be a major behind-the-scenes power player if a certain someone is elected president. (He required a face-to-face discussion rather than a conversation on the phone.)

-Rushed to a meeting on the Upper East Side with a client to discuss a revolutionary product he created.

-Met with one of the richest people in the world. (This was my second meeting in 10 days with a person on the Forbes 400 list of richest Americans.)

-Was called to my rabbi’s office for a meeting with a business contact he promised to introduce me to.

-Finally reached the office at 2:30 p.m. or so and dealt with many different issues.

But, to write more specifics than this is the difference between a philosopher and someone who owns a business. Or perhaps it’s the difference between the bush leagues and the big leagues: That distinction is apparent when working extra hours during times such as these.  It’s always fun…but it’s tiring and challenging.

PR is a great business.

Ronn Torossian

5W PR

I had a great discussion with a client (Sakiya Sandifer) today regarding the challenges of being an entrepreneur.  He described entrepreneurs as being much like ducks.  Ducks appear to be floating smoothly and easily across the water at all times, when in reality, underneath the water their legs are constantly kicking, flapping and fighting to keep moving.

As an entrepreneur, one must always appear to be gliding along.  But often, entrepreneurs are pushed and pulled in many different directions.  Being an entrepreneur is very very difficult work, all the time, no matter the perception.

Ronn Torossian

5W PR

I have recently been reading The Week, a publication put out by Felix Dennis of Dennis Publishing (who also publishes Maxim).  The magazine’s simple motto is: “All you need to know about everything that matters.”

The weekly mag provides a review/roundup of the top stories from magazines and newspapers all over the world. That’s a great summary of the news and helps one to better understand how the media is covering stories, which allows PR folks like me to come up with better pitches – I came up with a bunch while reading it.

You can’t read enough if you work in PR, or are an entrepreneur. 

Ronn Torossian

5WPR

Yesterday, I only finally arrived at my office in the afternoon, as I was running around all day.  I have always been the type of person who operates best in the office, behind a desk, working.  Simply old school: rolling up my sleeves and leading by example.  To me, this means being the first one in the office (as much as I can be), and the last one out.
 
All that said, running a company our size these days takes much more than just sitting in my office.  It’s almost like kissing babies on the campaign trail: go see a new clients’ office, meet colleagues for lunch, and network, network, network.  I do well with concrete yes and no, black and white, but as we grow, my role as CEO of this mid-sized PR agency is changing.  I am admittedly learning on the job.  

I always feel like a kid cutting school when I’m not in the office most of the day, even though I am of course working, albeit in a less formal, structured manner.  But decidedly working and working hard.  My continued non-reward of not working at my desk is being harried and nuts in the office, after everyone else has long gone for the day …
 
The joke for me remains whenever anyone asks me on a Sunday afternoon or a Saturday night when I’m heading to work, “But you are in PR – what can you possibly do on the weekend?” Any entrepreneur knows that there’s always work to be done.

Ronn Torossian
5WPR

What a day today was…

It started at 8 a.m. in the 5W PR conference room with a presentation to clients, new business prospects and staff by Hank Sheinkopf.  Hank is a friend and renowned political consultant, who touches major political and business leaders on a daily basis.  I really enjoyed his smart, focused and inspiring perspective on this election and the economy, filled pithy truths like, “This, and most American elections boil down to 500,000 white men in a few states.”  Another take-away I enjoyed was, “Truth in politics doesn’t matter – Victory does.”

One of my favorite parts about owning a successful public relations agency is my ability to interact with people like Hank, who are so well-connected to top segments of business, politics and the like.  To hear Hank tell war stories about political battle is simply amazing and interesting on many different fronts.  He discussed getting a call from then New Jersey Governor Mcgreevey at 8 a.m. regarding his scandal and sitting in the Governor’s mansion and (amazingly) being asked, “Do you think this will be big news?”  Simply amazing and interesting on many different fronts.

After Hank’s talk, I ran to a 10 a.m. meeting with a major client with whom we maintain a very close relationship. We talked about some fun and interesting campaigns they are working on.  Afterward, I reinforced to my staff that during tight times it’s imperative to over-communicate daily activities, pulling out our most creative (cost effective) ideas/pitches and educating clients about our service each and every day.

My noon meeting was a roundtable networking lunch of 25 hand-picked entrepreneurs, from technology to corporate concerns, nightlife conglomerates to non-profit leaders.  Just 25 individuals sitting around the table discussing business (although, of course, the conversation morphed to the economy and politics).

Then, it was back to my office for weekly round-up meetings with my direct reports.  I always want to know first, the worst thing going on in each group. (Is there an employee problem? Client surprise? Top line and bottom line.)

Really a nutty and busy day.  But times like today are always inspiring as an entrepreneur.  I believe the ability to determine one’s future exists for all people.  But successful people just have that something extra

I received an email from a Chabad-Lubavitch Rabbi at the end of the day with a quote I enjoyed, and wanted to pass it along. The Chabad Rabbi of blessed memory in difficult times would continuously quote the saying, “Tracht Gut Vet Zayn Gut – Think positive and it will be positive!”

… .and it’s funny: as I read the quote, I passed by a huge Jay-Z banner which said, “Refuse to Lose.” Which for me, is essentially the same message.

To me, at times such as these, anyone who isn’t concerned about the economy lives on Mars.  It’s a tough time, and it requires extra focus.  But successful people dig down further, work harder and make it happen.  As we lead into the weekend, I will end with another quote which I have used before, by Roger Ailes (Fox News): “If you run into people who are negative and always telling you that the cat got run over, and you couldn’t get the car started, and you’ve got a cold, the suits are idiots and life isn’t fair, you know, you need to get away from those people because they will suck you under and hold you down and drown you.”

Just Do It.  Refuse to Lose.

Ronn Torossian

5WPR

By now, many in the PR industry have heard about Jason Calacanis’ comments and thoughts on PR firms.  His recent post on Silicon Alley Insider, “How to Get PR for Your Startup: Fire Your PR Company,” has caused an uproar in PRland and much commentary. 

In general, criticism of PR firms makes sense.  Nearly all PR firms just aren’t that good.  They’re not creative; they’re not strategic; they’re not focused.  Yes, there are a few that deliver great results, but many more that are really terrible.  That’s why at 5WPR we pride ourselves on being starkly different from almost every other PR firm on the landscape.  However, Calacanis’ advice hits a very different nerve as far as criticism goes.  I won’t get into the DNA of his concepts, which have been dissected repeatedly across the internet, but I will say that I disagree.

So naturally, I want to meet him.  I recently asked for an introduction from a mutual friend, and while I have read his blog before, I started to read it more religiously.  In the process, I found a brilliant post on finding new talent that I not only want to commend, but also to emulate. Here’s the meat of the entry:

I hate using recruiters because they typically send you, well, not the best candidates.  The best candidates come from people you know telling you about people who are in good jobs already. As such, I’d like to ask you to send me the top five technology people you know in Los Angeles. Just send me some combination of their names, emails, mobile phone, and where they work. If you want to do an email intro that’s fine too.

I will do all the work in contacting them, and if we hire them and they stay past 90 days I will give you $3,000 cash money. This seems really fair to me since a recruiter would be 3-5x that amount, but the recruiter would–possibly–spend more time doing this. All I’m asking you for is FIVE NAMES.

I couldn’t agree more that the best candidates are those that are well-networked and well-known, not always the ones looking for a job.  They’re the ones who have a reputation for excellence.

I’m looking for these types of people – the ones that exude excellence.  So I’m going to match Jason’s offer: send me the names of the top five public relations people you know in New York or Los Angeles, and I might send you $3,000 to $15,000 in cash.

Email me the names at Ronn@5wpr.com.

Ronn Torossian

5WPR

Every day this week, I walked one block south of our offices to the tents at Bryant Park. Out on the street in front of the Fashion Week tents, lights were flashing and people were gawking. But while some were there for the fashion, I was there to people watch. As a marketer, I’m always inspired by the creative street theater and guerrilla marketing events saturating the Bryant Park sidewalk during Fashion Week. People watching allows me to see trends and make observations first hand. Reading a media report is a far cry from the palpable excitement on the street.

This morning, for instance, I encountered a few cross dressers promoting the Janice Dickinson show swarmed by photographers and a crowd of people. It’s a great example of a low cost, high impact way to capture influencers.

While I won’t reveal here the many successful stunts 5WPR executed for Fashion Week, I can say that street theater and guerrilla marketing are amazing ways for brands to capture mind share and media share at huge events, without incurring huge costs.

If you’re open to big ideas and have a entrepreneurial mindset, you can always find a way to incorporate your brand into the mecca of huge events, without having to pay the multimillion dollar price tag. Whether Fashion Week, The Superbowl or Sundance, 5W PR always finds creative ideas and angles to enter the media landscape, permeate the discussion and penetrate the tastemakers who attend. Brands need to seek creative, winning concepts… and winning sometimes means being outside rather than inside the box. Those who take the biggest risks with their brand often reap the biggest rewards. And by far the most attention.

Ronn Torossian

5WPR

Being an entrepreneur is always exciting, challenging and a real endeavor.  And it’s harder than anything you have ever dreamed of doing.

This week was a particularly tough one.  Each day brought new challenges that kept me at the office, out with clients or at media events until at least 10 p.m.  To maintain sanity during weeks like this one, I wake up early (5 AM’ish) just to run.   Before I turn around, it’s suddenly 3 p.m. and I haven’t eaten at all day.  Yes, a tough week.

I really love what I do, and I think any great entrepreneur has to love his work in order to maintain focus.  There’s such a rush of excitement when things are good.  I love the high highs. This week is one of those weeks where the energy is nonstop.  And now, as it begins to wind down, there’s only one last thing to worry about – the rain forecast for tomorrow’s 5W summer party.

Ronn Torossian

5WPR