By: PRSA Diversity Committee
Panelists share their top tips
Considering going solo? You’re not alone. According to the 2012 census, there are more than 20 million individually-operated small businesses in the United States. And although statistics show roughly 50 percent of businesses fail within the first four years of operation, it would appear for many, the benefits outweigh the risks.
To provide PRSA-Detroit chapter members with fresh, relevant industry news, the Diversity and Inclusion Committee recently hosted a webinar featuring PRSA members and solo practitioners Tatiana Grant, Catherine Ticer and Jerome Espy, who traded in their corporate positions to build their own businesses. All three graciously shared their experiences, including the ups and downs of their journey, during a candid panel discussion.
Here, panelists share a few tips on going solo.
Diversity and inclusion aren’t just buzzwords; when fully embraced, they bring new opportunities to your business. Catherine Ticer, a former journalist and owner of Catherine Ticer Communications, says engaging a diverse clientele keeps businesses relevant, fosters innovation and ultimately broadens your skillset.
Isn’t it a good feeling to call on a friend when you have an issue to work out? Your solo business is no exception. Jerome Espy, owner of Nfinit Integrated Communications, says it’s important to build relationships with other professionals. Creating a network of trusted colleagues you can learn from and rely on for expert advice is a benefit for smaller agencies.
Starting your own business can be a challenge – especially when you have a meager budget to begin with. Tatiana Grant, owner of Infused Public Relations, says in the early stages of startup, Wayne State University law students assisted with establishing her company as part of their semester project. Budding entrepreneurs need to be resourceful so they can take advantage of free and low-cost programs designed to benefit small business owners. To learn more about available resources in your area, visit the Small Business Administration.
Want more great tips from our panelists? Listen to the webinar.
Feature image provided from Pexels