Here are some random musings of a PR firm owner:

· Every year, I say the same thing right about now – as long as newspapers are published, TV stations are airing, and news is being reported, we as a PR agency will work during the holiday season.  In fact, with snow causing extensive flight cancellations, there are now many more opportunities available for guests who would not otherwise be booked.

· The beauty of working in Public Relations is you really wont know what your day looks like until you arrive—this is even more true at a PR agency.

· There is a consensus amongst reporters that they have the right to inquire about whatever they want. I agree, they do. But, on the other hand, people/companies have the right to push back and say “No, we will not allow you access to this information.”  Here at 5WPR, we do a tremendous amount of crisis communications work for companies, brands and individuals. Most of these clients we cannot name and we often turndown requests from reporters, knowing they will run negative stories…

For example:

To assume, as this article does, that allowing a reporter access to privileged information will result in a positive outcome is not only inaccurate, it’s naive.  It seems more likely that the organization mentioned in the article realizes they are doomed to negative coverage, and therefore they see little value in disclosing more information to an individual with malintentions. Oftentimes, I agree with this approach.

As an example: There is a producer who has hounded a client of mine 3 years or so in an effort to get an interview. Finally, 3 months ago, he called me and said, “If you don’t give me this interview, I will never contact you again regarding this client”….and my response was, “Promise?”  We all understand that reporters have to try and secure the story. But, why doesn’t the media understand that PR people have to serve and protect our clients in times of crisis?

It’s a real winter day here in NYC…. And we toil away at our desks here at this PR firm.

Ronn Torossian

5WPR

I hosted a networking event today. In attendance were a plethora of executives and professionals, including dentists, lawyers, consumer goods and real estate pros.  As I sat around the conference table surveying the crowd and assessing the discussion, I was reminded how hard it is to be an entrepreneur these days. There is so much responsibility associated with owning your own business and it is a continual struggle and challenge.

Interestingly enough, I met with a new business prospect last night who inquired how I was able to grow 5WPR so quickly.  The answer is hard work, being a straight shooter, and giving everything we have on a daily basis.  In my book, giving means introductions, going the extra mile for your client and going to war for them when they need it.  5W demands this of our staffers— it’s a quality we believe anyone with an entrepreneurial spirit understands and possesses.

These are just random musings on a December day while eagerly awaiting our annual company holiday party tonight.

Ronn Torossian

5WPR

One of the things I have found remarkable about the last few months is how individuals and businesses are reacting to the ongoing economic crisis. It’s a scary time in the world, and the level of tremendous fear people have is simply amazing.

I spent significant time this weekend with a number of close friends who all admitted considerable losses in business, and they’ve all coped in different ways. The most successful of these people, I believe, are coping by working harder, saving any money they can, and adapting to the world which now exists. The most successful entrepreneurs have learned to adapt and understand the need to communicate clearly.

Of course, after frank discussions with friends about how tough it is, I opened a paper this morning to read that same friend say in the media how much better things are…but of course I know what he’s saying publicly isn’t the truth.

What one says to the media is interesting for me to read (for non-clients), as there’s an interesting discussion to be had privately about how businesses should posture to the media during times like these.

I believe that when good news happens it should be discussed, but there’s also a time to avoid high-profile media. Cookie cutter answers surely wont work.

Ronn Torossian

5WPR

Ed. Note – This was written last nite…

I’ve been working tremendously long hours these last few weeks, and with the changing economy I’m even more knee-deep in client work than usual.  I am emotionally invested and intensely involved with client work – A 5 hour strategy session today with a major financial client, followed by a 2 hour conference call with a technology media company for example.  The work is fun and challenging, but emotionally and intellectually draining.  Great clients are essential in these times – Great clients who are good, smart people, who allow someone who owns a service business like myself to feel appreciated… and give us that rush (and of course pay their bills on time).

It’s 11:15 PM and I have literally worked nonstop since 7 AM…and on top of that, I have an 8 PM client event tomorrow night, and two client events this weekend, but this is the price I believe is necessary for success.

Owning a PR agency, I am very blessed and thankful for us to be where we are and believe we are very well suited for the days, weeks and months ahead.  Focused, aggressive, hard working, and in the trenches with our clients.  There’s nowhere I’d rather be.

Ronn Torossian

5WPR

This morning I attended a small breakfast networking meeting hosted by a friend and client for 12 real estate and financing CEO’s. As always, I enjoy spending time with smart, successful people, and the most interesting quote I heard was from a hedge fund CEO who said “There’s no such thing as inventory or product.  Every single situation, vis a vis inventory and product, like never before, is an individual consumer.”  That’s a very scary statement for a marketer and means a lot more “hand-to-hand” combat when it comes time to market any product, whether property or loan.  It’s harder than ever when there’s no “box” in which to put the “buyer.”

Separately, in a late night religious course last nite, I learned that the average person’s brain has 60,000 thoughts every single day.  I found this fascinating and will continue to learn how to better process (and act upon) those thoughts.

Ronn Torossian

5WPR

For better or for worse, I have always been brutally honest.  I am hard working, I don’t know any other way. I only take on clients we can do great work for, treat people well and expect the same in return.  It’s sometimes painful being brutally honest in the service industry. 

Over the past 45 days, we invested perhaps 75 hours of work pitching a major company’s PR work.  The CEO personally approached me; we held countless meetings, and were continually promised that an agreement would be forthcoming. Then came two weeks of no replies and a meek email apologizing for budget constraints (which was of course the first question I asked when we got the initial call).  Nevertheless, the CEO promised we would build a relationship and that he had plans to work with us in the future. I built a relationship with these folks (or so I thought), carried out some impressive presentations and devised a strategy for them. The work was enjoyable and I felt I learned a lot from it.

That said, today was approached by a client who wanted to collaborate on a project with these folks. I said sure, I’d be happy to call and help establish a connection. I immediately got the CEO on the phone, who quoted me a price…which was more than what we had been quoted by a sales person who was unaware of a preexisting “relationship.”  Needless to say, we won’t be collaborating with these people…and I feel they took complete advantage of us.

In the service industry, time is money, and too often we don’t receive value for our time.  It’s not fair, and it’s not good business.  All we have is time and we value it. It’s how we make our living.  Value your own time in the PR business.

Ronn Torossian

5WPR

Yesterday I received a call from an old acquaintance of about 10 years, completely out of the blue, requesting a meeting. We spent considerable time together in 2003 when I first started 5WPR, which I remember vividly. We have spoken many times over the years, both personally and professionally, and he’s risen very rapidly in his industry. For someone my age, he has become very high profile, tremendously successful and, other than a few yearly emails, I have admired him from afar.

We met yesterday, simply for him to say “Congratulations” to me.  Someone had mentioned me to him earlier this week, we hadn’t connected in quite a while, and he said “You should be proud of what you have built. I am proud of you.”

We ended up spending quite a few hours together, we discussed the prospects of a future business venture. It was really nice to hear from him, and for me as an entrepreneur, it reminded me to thank people who do good things and who succeed. 

It’s rare for people to appreciate the success of others, and I vow to do it more. Be appreciative of people who succeed – Its much harder than it looks.

Ronn Torossian

5WPR

Sometimes in the midst of life’s daily madness, one overlooks how great it all is, and only in reflecting did I realize how special a day yesterday was.

It started with an 8 AM client breakfast at the Carnegie Deli (yes, its open for breakfast) with one of the country’s leading Evangelicals – An individual with daily access to some of the highest members of the GOP and major Republican influencers in the country; someone whose every word is carefully heeded by the media.  After the 1st hour of work talk, we ended up talking personal issues till 10:30 (I missed a planned conference call, occasionally a necessary sacrifice), and came to the office invigorated, if not late. 

Next - A mid-day new business meeting at one of the largest retail stores in the US.  We are in the running; it was fun and we are hopeful. From there I went straight to a publishing client who is a market leader to trade ideas, review progress and plan a conference. When I first started my PR agency, I would have stayed up hours pontificating on these meetings, but now I ran from place to place – prepared and certainly excited… but more routine.

My last meeting of the day (in between chats with staff, media correspondence and a quick internal financial meeting) was my sitting monthly meeting with one of the leading hairdressers in the US who is a client with whom we have had enormous success, and is someone who continually inspires me as an entrepreneur. 

Finally, I ran home quickly to change and shower, and then to meet a group of former clients visiting from Europe at the Four Seasons. 

Only this morning did it occur to me to stop and say “wow what a great and exciting day.” It was fun, great clients and great conversations – prosperous and something which when I started this business would have been an OMG moment… but now more regular. It’s important to sometimes just stop. Reflect. And be thankful.

This story would be more amazing if I were able to name names… but I can’t…. But it’s all exactly spot on… and whatever your lot is in life, take time and appreciate the great and special things.

Memoirs on this beautiful NYC day in May.

Ronn Torossian

5WPR

This week alone, three clients spoke with me about investing funds in “content creation.” The goal of these campaigns is to grab consumers with attention-grabbing content and subsequently buy their product.   With the changing media, smart entrepreneurs are hiring spokespersons and creating their own content. This gives them the freedom to define the news without losing control to the media’s agenda.

This concept, if done right, will trump trade media outlets and enhance a company’s SEO.  For example, General Electric recently launched an alternative media outlet, a type of hybrid between traditional online news and a blog. This allows them to create their own content, catering to an audience already interested in the material, and provides a forum for consumer engagement and conversation.

In an environment where brands aren’t spending money on advertising, brands have an opportunity to define their industry’s news and trends. For a fraction of the cost, brands can finance their own industry’s media machines. PR 2009.

Ronn Torossian

5WPR

So, today I was quite pleased to learn that we were ranked as the 23rd largest PR firm in the U.S. in the just released 2009′ PRWeek Agency Rankings, a public relations industry magazine.  5WPR, for their 6th full year of operations ranked 23rd in the U.S., with $11,919,546 in revenues.

One of the 25 largest PR firms in the US, Inc. Magazine fastest growing companies, fastest growing PR firm in the US 3 years in a row – These are all accolades we have had in only our 1st 6 years of business.

Am very very proud we rank as one of the 25 largest PR agencies in the U.S.

Ronn Torossian

5WPR