How Understanding Business will Further Your PR Potential
Having an understanding of business processes can go a long way in optimizing your success as a public relations professional.
Whether you work in corporate communications or an agency setting, understanding how your organization or your clients make and spend money will help you to better understand your role within the organization and to share business news on behalf of your client. Understanding a company’s financial investment will give you the chance to truly assess your work and find opportunities for taking advantage of available resources. This will also put you in a position to explain the value of PR to those that never understood your job.
This all begins with developing your business acumen. Gaining an understanding of how an organization operates is imperative to understanding their business, but you then must have the business literacy to effectively communicate your views and ideas for how the company can get the most out of its PR efforts. You may not be personally responsible for managing your company’s balance sheet or determining the quarterly budget, but understanding the process will help you better understand the organization’s outlook. Thankfully, there are several ways that PR professionals without business backgrounds can gain a better understanding of business processes.
How to learn
- One of the simplest ways to build your business acumen is by seeking guidance within your organization. Spending more time with your business-minded colleagues will test your existing knowledge of business processes while providing opportunities to better understand other roles within a company.
- Getting into the habit of reading and discussing business news is another way to familiarize yourself with the business world. Keeping an eye on publications like The New York Times, The Wall Street Journal, Forbes and Business Insider will provide plenty of learning opportunities. This shouldn’t be too difficult for PR professionals that already extensively monitor news outlets to stay on top of their game.
- There are also plenty of online resources for professionals with busy schedules. YouTube has plenty of tutorials and informational videos that feature industry professionals explaining the world of business for those without a business background. If you are looking for more extensive business training, consider taking online classes from a local university.
There are plenty of opportunities to better familiarize yourself with the ins and outs of a business. By taking the time to learn more about what all goes into your clients’ businesses and how PR fits into the plan, you’ll find yourself in better positions to elevate clients’ PR efforts.