Want to Run Your Own Business? There’s a Book for That

So, the time has come and you want to be your own boss. Maybe you’ve been forced into this because of a company’s downsizing or maybe you would rather work from home to have additional freedom. If you do a Google search, you are sure to find a ton of links to books and seminars to assist you along the way.

I’ve been contemplating my own future, so when I had an opportunity to read Richard Walsh’s book, “The Start Your Own Business Bible,” I jumped at it. If you are even close to thinking like I am, this book is worth a read.

Walsh breaks down each business into how much you will need to start, with statistical information at the beginning of every entry. It shows you potential earnings, start-up cost, advertising, and the bottom line, to name a few.

Since this a PR-centered blog, let’s focus on our fine field. Walsh estimates the start-up cost for a PR business is between $5,000 and $10,000. What I liked the most though was Walsh’s “Bottom Line Advice.” He hit it right on the head when writes:

“As a solo practitioner, you’ll start with small projects and gradually expand your network and contacts to take on more complex campaigns. PR is not just about ‘liking people.’ It’s a demanding profession that requires excellent verbal and written communications skills, as well as the ability to network effectively with clients and media representatives.”

I also liked the fact that Walsh mentions that to gain credibility in the industry, a solo practitioner should consider becoming accredited with PRSA.

By the way, if you are looking to be a marketing consultant, Walsh estimates you’ll need the same cost as it would be for a PR business.

Overall, I found what I read from Richard Walsh’s book to be concise and incredibly helpful. Most importantly, it gives the reader a realistic expectation. There are no false realities.  The book is well worth a purchase.

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  • Very timely post Jason, as I am contemplating this jump sometime in the future.  Appreciate the candid review and I have added this to my growing list of books to read this summer.

    • Thanks John. It’s a great resource (in my opinion) for anyone even considering their own consultancy or starting their own “shop.” 
      There’s so many books out there that really just talk at you. This one is a terrific, honest guide.

  • Todd Nelson

    I haven’t read this, but I’m glad there’s one out that that devotes a piece specifically to the PR business. There wasn’t one around like this when I started my own business in 1995.

    I did a business plan and all that, and there were a lot of books out there that talked about how to run a business, but one of the things they forgot to mention was that as a solo practitioner, you have to spend half of your time looking for business, half of your time doing the work and then the other half of your time managing the business (your the janitor, computer repair guy, payroll and file clerk, bookkeeper, maintenance guy, and at time, your own intern, too).

    I’ll freely admit I’m not the most organized person in the world. And something that talked about how to run/manage the business would have been very helpful to me….how to set up a bookkeeping system (with accounts, etc.) for a PR business, how to set up and maintain a filing system. You can hire someone to set those things up, but if you’re just starting out, let’s face it, whether you want to or not, sometimes you have to do those things, and maintain them, yourself.

    So, when you’re considering a business and talking to people in the industry, don’t forget to talk about those mundane issues of business management. They can sink you if you neglect them.

    • Todd,

      Excellent points. You should write a guide.

  • You may want to update author’s name on your post. It’s Wallace not Walsh. No wonder I couldn’t find under Walsh. It looks like a great resource. Thanks for sharing.