Ep 242 Getting PR for Pennies with Mickie Kennedy

11/12/24 • 35 min

Profit Answer Man: Scaling with Profit First & Beyond

Getting PR for Pennies with Mickie Kennedy

In today’s episode of The Profit Answer Man, we are joined by Mickie Kennedy, the founder of eReleases. Mickie brings over 25 years of experience helping small businesses and entrepreneurs increase their visibility and gain access to national media outlets through affordable press release services. From creative writing to mastering the art of the press release, Mickie shares how his journey led him to become an expert in public relations and how businesses can use press releases to grow their brand effectively.

In this episode, you will learn:

The evolution of press releases over the last 25 years and how media consumption has changed.
How small businesses can use press releases to gain national attention at a fraction of the cost.
The importance of telling compelling stories that capture media interest.
How new media, like bloggers and influencers, play a pivotal role in today’s PR landscape.

Key Takeaways:

The Power of Storytelling in PR: Mickie explains how journalists are not just interested in raw data, but in the stories behind that data. A well-crafted narrative is what gets picked up by the media, helping businesses gain the exposure they seek.
Affordability for Small Businesses: Mickie’s eReleases service was created with small businesses in mind, offering them the opportunity to get national distribution through PR Newswire without the exorbitant cost. He emphasizes the importance of making press release services accessible to businesses of all sizes.
The Changing Media Landscape: Mickie highlights the shift from traditional journalists to new influencers, such as bloggers and Instagram personalities, showing how businesses can leverage these platforms for PR.
Best Practices for Press Releases: According to Mickie, a successful press release is one that tells a unique story, resonates with the intended audience, and aligns with the brand’s goals. He also stresses the importance of targeting the right journalists and publications.

About Mickie Kennedy:

Mickie Kennedy is the founder of eReleases, a company that provides affordable press release services for small businesses, authors, and startups. With over 25 years in the industry, Mickie has helped countless businesses gain media exposure in major outlets such as The Wall Street Journal, CNN, and Bloomberg. He holds an MFA in Creative Writing from George Mason University and has a deep passion for storytelling. When he’s not crafting press releases, Mickie enjoys British science fiction and has a Monday night poetry group. He lives in Baltimore County with his family and two feuding cats.

Conclusion:

Whether you're a startup looking to gain media attention or a small business aiming to boost your brand, Mickie Kennedy’s insights into the world of press releases offer invaluable advice. By focusing on storytelling, targeting the right media, and understanding the modern PR landscape, you can harness the power of press releases to elevate your business. Be sure to tune in to the full episode to get all the expert strategies from Mickie Kennedy himself!

Links:

https://www.ereleases.com/plan/

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

Getting PR for Pennies with Mickie Kennedy

In this episode, you will learn:

The evolution of press releases over the last 25 years and how media consumption has changed.
How small businesses can use press releases to gain national attention at a fraction of the cost.
The importance of telling compelling stories that capture media interest.
How new media, like bloggers and influencers, play a pivotal role in today’s PR landscape.

Key Takeaways:

The Power of Storytelling in PR: Mickie explains how journalists are not just interested in raw data, but in the stories behind that data. A well-crafted narrative is what gets picked up by the media, helping businesses gain the exposure they seek.
Affordability for Small Businesses: Mickie’s eReleases service was created with small businesses in mind, offering them the opportunity to get national distribution through PR Newswire without the exorbitant cost. He emphasizes the importance of making press release services accessible to businesses of all sizes.
The Changing Media Landscape: Mickie highlights the shift from traditional journalists to new influencers, such as bloggers and Instagram personalities, showing how businesses can leverage these platforms for PR.
Best Practices for Press Releases: According to Mickie, a successful press release is one that tells a unique story, resonates with the intended audience, and aligns with the brand’s goals. He also stresses the importance of targeting the right journalists and publications.

About Mickie Kennedy:

Conclusion:

Links:

https://www.ereleases.com/plan/

Previous Episode

Ep 241 Creating an Efficient Profit Monitoring System with Jason Kruger

Creating an Efficient Profit Monitoring System with Jason Kruger

In today's episode of the Profit Answer Man, we are thrilled to have Jason Kruger, the founder and CEO of Signature Analytics, join us. With over 20 years of experience in accounting and business advisory, Jason shares valuable insights into how outsourced accounting and CFO advisory services can help business owners optimize profitability, improve financial processes, and make smarter decisions.

In this episode, you will learn:

Why understanding cash flow is critical for small and mid-sized businesses.
How to assess the efficiency of your current accounting processes.
Key strategies to ensure accurate financial reporting.
The benefits of outsourcing accounting to achieve scalability and operational efficiency.

Key Takeaways

Cash Flow Clarity: Jason emphasizes the importance of cash flow management, especially for small and mid-sized businesses. "Cash flow is often the first pain point," he says. Without proper cash flow forecasting and management, businesses struggle, no matter how much revenue they generate.
Efficient Accounting Processes: Business owners often don’t know if their accounting processes are efficient until they experience issues, such as poor cash flow or inaccurate reporting. Jason recommends creating a process that ensures monthly book closing and timely, accurate financial reporting.
Outsourcing Accounting Services: For companies lacking the resources for a full in-house accounting team, outsourcing can provide the expertise needed without the costs of full-time employees. Jason explains how outsourced solutions can provide next-level financial insights at a fraction of the cost, allowing business owners to focus on growth.
Focus on Reporting: Accurate financial reports are the foundation for strategic decision-making. Jason explains that outsourcing accounting services can ensure timely and consistent reporting, which is essential for tracking profitability and making informed decisions.

Bio

Jason Kruger, founder of Signature Analytics, is an expert in helping businesses make smarter financial decisions. With a background in public accounting, including nearly a decade at Deloitte, Jason brings a wealth of experience to his clients. Signature Analytics, under his leadership, offers outsourced accounting and CFO advisory services to small and mid-sized businesses, providing them with the tools and expertise typically reserved for larger companies. His mission is to help businesses improve their financial health and increase profitability by offering tailored accounting services. Signature Analytics has been recognized on the Inc. 5000 list for five consecutive years.

Conclusion

Whether you're struggling with cash flow management or simply looking to streamline your accounting processes, Jason Kruger provides practical strategies that can transform your business. By outsourcing accounting tasks and focusing on accurate financial reporting, business owners can not only save money but also drive profitability and scalability.

Links:

https://signatureanalytics.com/

https://www.instagram.com/signatureanalytics/

https://www.facebook.com/SignatureAnalytics

Next Episode

Ep 243 Cash Is King with Peter W. Kingma

Cash Is King with Peter W. Kingma

In this episode of The Profit Answer Man, we sit down with Peter W. Kingma, author of CASH IS KING and leader of Ernst & Young LLP’s working capital practice in the Americas. With over 30 years of experience advising global companies on all things cash management, Peter joins us to discuss why cash flow is the true backbone of business success and how business owners can shift their focus from profit-and-loss statements to developing a “cash culture.”

Peter provides actionable strategies for managing the five steps from order-to-cash, improving collections, and boosting cash flow through better customer management. We also dive into the importance of supply chain management and discuss how creating a “Cash Leadership Office” can transform the financial health of any organization.

In this episode, you will learn:

Why Building a Cash Culture is Essential: Peter explains why focusing solely on profit-and-loss statements can lead businesses astray, and how a cash-centered approach ensures long-term financial stability.
The Order-to-Cash Process: Learn the five key steps in the order-to-cash process that businesses must optimize to maintain healthy cash flow and avoid liquidity crunches.
Strategies for Effective Collections: Peter shares five tips for managing customer relationships and disputes to improve collections and cash conversion cycles.
Supply Chain Management for Cash Flow: Discover how better supply chain management can keep your cash flowing smoothly, even during challenging economic times.
Creating a Cash Leadership Office: How establishing a dedicated leadership team to focus on cash flow can enhance your bottom line and allow for sustainable business growth.

Key Takeaways:

Cash Over Profits: Even large companies struggle to manage cash effectively. Business owners must understand that cash flow is more critical than simply showing a profit.
Sales ≠ Profit, and Profit ≠ Cash: Peter emphasizes that even profitable sales can be harmful if cash isn't collected on time. Businesses must prioritize cash flow management alongside sales and profit.
Avoiding Cash Flow Pitfalls: Common mistakes, such as offering long payment terms or failing to consider the financial impact of customer service agreements, can cripple cash flow.
Aligning Teams with Cash Goals: Often, sales teams are incentivized based on revenue, not cash collection. Aligning incentives with cash goals can prevent cash shortfalls and improve business sustainability.

Bio:

Peter W. Kingma is the author of CASH IS KING and leads the working capital practice for Ernst & Young LLP in the Americas. With over 30 years of experience advising global companies, Peter specializes in cash management and working capital strategies across industries such as manufacturing, consumer products, aerospace, and defense. He has contributed to publications like CFO Magazine and CNBC, and is passionate about helping businesses build a cash-centric culture.

Conclusion:

Cash is the lifeblood of any business, and without careful management, even the most successful organizations can run into trouble. In this episode, Peter Kingma provides valuable insights into how business owners, large or small, can develop a cash-focused mindset and manage their operations for long-term financial health. By implementing the strategies Peter outlines, you can ensure your business not only survives but thrives, no matter what economic challenges you face.

Links:

https://peterkingma.com/