Are you interested in working in the public relations space? So far this year, 57,416 public relations firms operate in the U.S. That’s up 4.6% from 2022, says IBISWorld.
While you could find a job at one of the PR firms in your neck of the woods, another option is starting up your own business.
It can be as easy as finding some relevant assignments on one of the many online freelance job platforms.
Around 50% of all small businesses in the U.S. are home-based. That statistic rises to 60.1% when considering businesses with owners but no employees.
If you love problem-solving, networking, strategizing, and helping others achieve their goals, a PR-based home business is worth considering.
A niche within that space that’s worth considering is technology. And if you go that path, it wouldn’t hurt to get some practical experience at an established tech PR agency to learn the ropes.
Continue reading for five steps to start a home-based PR firm and maximize upside potential.
1. Learn the Ropes
You’ll find the process easier if you have some first-hand experience at a PR firm.
Otherwise, you need to conduct extensive research and talk to as many industry professionals as you can to learn the ropes and avoid common pitfalls.
Growing pains are part of the life of any home-based business owner. And regardless of how much you prepare, you’ll make some missteps.
But you’ll want to avoid the apparent faux pas as much as possible since they can jeopardize your success.
2. Learn About the PR Tech Industry and the Players
If you want to operate in a specialty niche like tech PR, you must learn about the niche and the players in the space.
Remember that you’ll be competing against other tech PR firms, so knowing who’s who is essential if you’re going to win over clients.
When observing the lay of the land, you can better define and communicate your unique value proposition.
That’s the secret sauce that makes you the go-to person for companies looking for tech PR agencies.
3. Build Up Your Network
Whether a small fish in a small pond or a large pond, you need a professional network. Finding and nurturing industry connections and partnerships is essential.
Starting a home-based business doesn’t mean you’re an island unto yourself. You must build your brand and establish industry cred by developing a strong network.
You can further your objectives by following thought leaders in the tech PR space on social media, sharing helpful content, contributing to discussions, writing guest articles, making guest appearances on podcasts focusing on the tech PR space, and being an active participant in industry-specific groups on Reddit, LinkedIn, and Facebook.
4. Invest in the Tools of the Trade
When working from home, you’ll likely be a team of one. You can’t do everything yourself, so you’ll need tools and equipment to be more efficient and productive.
It’s a good idea to invest in a website. You don’t have to go all out — a simple single-page website resembling an online business card is better than nothing.
Consider that seven to eight in 10 people look for companies online before deciding whether to purchase. So, you’re already at a competitive disadvantage if you don’t have a website.
It would be best to consider things like a productivity suite, project management tool, accounting application, teleconferencing solution, computer, printer, and more.
5. Find a Good CPA
A good accountant is a must if you’re serious about starting a business. You can ask questions, get answers, and set things up correctly.
Starting a home-based business has tax implications you don’t want to violate. An accountant can guide and enable you to make informed decisions, so you go about things correctly.
If you want to start a tech PR agency and operate it out of your home, you’ll have a lot of hard work ahead of you.
That’s one reason it’s best to have some experience and contacts before starting your own business.
But with the right strategy and hard work, you can start a niche or boutique PR firm and build a loyal client base.