Every year the fastest-growing companies in the US are named on the Inc. 5000 list. It honors private companies of all sizes and making the list is a unique opportunity to receive national recognition. The companies are chosen by how fast they grew over a three-year period.
So what are the factors that can contribute to rapid revenue growth?
According to Paul Graham of Y Combinator, “to grow rapidly you need to make something you can sell to a big market. That’s the difference between Google and a barbershop. A barbershop doesn’t scale.”
For a company to grow really big, it must:
- Make something lots of people want
- Reach and serve all those people.
So this is like the problem with that old saying – if you invent a better mousetrap people will beat a path to your door. For that statement to be true certain things have to be in place:
- A large number of people want a better mousetrap
- They know you have it
- They know where the door is
That depends on the reach part of Graham’s explanation. You have to have something lots of people want and you have to reach those people and let them know you have it.
Enter PR. And working with the media.
The media is interested in innovation. They will cover stories about a new product that lots of people want. Editorial coverage of your product or service is the perfect way to reach a large audience – and it’s the most credible way. Learning how to work with the media is an essential skill for any start-up or fast-growing business.
What does the media want from a company? Journalists are working under extreme pressure today. They are looking for stories all the time. The public has developed an insatiable appetite for news. The internet has made it possible to have a constant, 24/7 news deadline. As it happens they’re expected to report it. And the public expects visuals.
The vast majority of reporters say they visit online newsrooms of companies both large and small looking for content.
This is what they expect to find:
- News releases
- Fact sheets
- Expert bios
- Financial data
- Management bios
- Social channels and content
- Story Ideas
- Industry trends
The Online Newsroom
The best way to service journalists and bloggers who can cover your story is to have an excellent online newsroom that offers all these items. Make sure that you post content to your newsroom on a regular basis, so that when a reporter does visit they find current, newsworthy content.
Make the layout easy to use and offer a visually appealing look. A bland page of text links to press releases in PDFs is not helpful for journalists today.
You can get your IT department to build you a newsroom. Most IT folk are technically quite capable of constructing a newsroom The drawback is that they are not PR trained and have never worked with the media, so they won’t know what should be in the newsroom.
WordPress can be used to make a newsroom but it has to be customized. You’ll need to find a talented WordPress programmer who is skilled enough to customize it so it has all th needed features.
The best and fastest way to get a reliable, state-of-the-art newsroom is to go with a hosted newsroom vendor. There are several on the market. Ask us for a demo of the PRESSFeed newsroom.