Warren Buffett’s 10 rules for public relations

A woman happy tyhat the rules of PR success have worked for her. Warren Buffett is a reputable billionaire and philanthropist, but he’s also known as one of the most successful investors of all time. His entrepreneurial interests started at a young age and landed him the sixth spot on Forbes World’s Billionaire List.

As the CEO of Berkshire Hathaway, he rescued the corporation from failure in 1965 and fashioned it into what it is today: a thriving multinational conglomerate company. Although hard work was a part of the equation, Buffett discusses other key factors that molded his life to be a success in this Youtube video.

You may be wondering, “If Warren Buffett used these details to prosper, how can I implement his advice into the world of public relations?” We are here to answer that question!

Taking inspiration from project-management.com, we adapted their Top 10 Rules for Success. Here are 10 tips to gain and maintain success in public relations:

#1. Find your mission

Establishing the purpose of your company will create a cohesive environment to conduct business, which won’t be successful if the only goal you have is to make money. Think of your ideal customer and client. What do they need and how can you help make their life easier? Clients should be aware of the services you offer, and you can hire employees who are knowledgeable and qualified to assist them.

#2. Put effort into hiring

In the interview process, it’s important to confirm that your potential employee’s values align with your company’s core values. Buffet recommends that you look for integrity, intelligence, and energy during the interview process. Additionally, hiring individuals with well-rounded news and social media skills is essential in today’s PR climate.

#3. Be honest

Clients may think they know what is best for their company. However, you have the experience and understand how to effectively spread their message and build brand awareness. There will be times where you have to tell a client no. Your honesty and expertise will impress them, if asserted appropriately. Trust your abilities and recognize that it’s better for both parties’ reputations to follow your recommendations.

#4. Stay updated

Being aware of current events and trends can help strengthen your skills as a PR practitioner and assist you in better serving your clients. Listening to podcasts, watching the news, and being active on relevant social media platforms are a few examples of ways to stay informed on the latest news and trends in public relations and your clients’ industries.

#5. Have a crisis communication plan

A crisis can arise at any moment, so it’s crucial to be proactive and have a plan already in place. This plan should aim to limit the damage done to a company’s reputation and can define the positive or negative direction the business moves in once the crisis is over.

#6. Get to know your competitors. What are they doing right?

An analysis of competing PR agencies can reveal successful strategies that you can apply when working with your own clients. Additionally, competitors can teach you about the different media outlets that are covering your market.

#7. Schedule for productivity

All of your clients want to be assured that they are a priority, so structuring each day to achieve optimal productivity is a must. Purchasing a planner or utilizing organizational apps on your mobile device are a few simple ways to maximize your work efficiency.

#8. Think Creatively

Presenting unique ideas to clients will communicate that you will go above and beyond for the success of their company and make you stand out. Even if an initial proposal isn’t implemented, others may take inspiration from your words and propose a concept that is equally special but more suitable.

#9. What does success look like in your company?

Achieving success can demand acquiring a specific amount of new clients or earning a certain amount of profit. Whatever it looks like for your company, it’s important to outline this to your colleagues so they can establish personal goals that will aid the company to reach its overall objective of success.

#10. Care about your colleagues

PR is a team sport and it takes employees across multiple departments to get projects completed for clients. Forming amicable relationships with your coworkers is important. Demonstrating that your colleagues’ time and effort is valued will encourage them to work harder and give you assistance if you’re ever in need.

Caroline is a rising senior at the University of Alabama and is pursuing a bachelor’s degree in public relations. Her interests include connecting with new people and content creation.