“Duh, so what is the next step?” So our IR/PR firm has been in biz for nearly 10 years and people still ask that question. Even those who have called previously. Some for years. Really? So what is the next step if you are trying to be a customer of an accounting firm, financial advisor, wealth planner, stock broker, attorney, an advertising firm, or a financial public relations firm? (like ours)
You need to hire them, that’s what. In writing. It’s staggering that people still need to be explained something so obvious in the 21st century. Until you take into consideration 2 factors. First, people don’t read anymore. At best they glimpse or scan.
What is the next step for being a customer of our IR/PR firm is disclosed on our company website, blog feed, and at the top of the 19 Facebook finance-topic groups we host and at http://www.Facebook.com/Globalcrossroadscapital.
The second reason it doesn’t dawn on some people that they would need to actually hire people in writing is because some people are accustomed to exploiting labor into working for free. Prime example is film producers. Don’t believe me? Type ‘non-paid film jobs’ in the subject line of FB and see how many groups you get.
Now film producers would try to get you to believe they are doing those with no experience a favor by getting them to work for free. But the Nevada Dept. of Labor website prohibits this. Even tipped jobs must receive minimum wage. I recall my first full-time job at the age of 17 I had NO experience either but yet I still received $150 a week + room & board + work clothing + vocational training + work transportation + medical care + college matching funds.
In closing, here is what 4 different people say (including 1 from Barclays Capital) about working for free and/or debunking the myth about there being no cost or ‘skin in game’ requirement for fund-raising in the real world; http://SinCityfinancier.wordpress.com/2013/05/03/quotes-from-linkedin-com-the-fees-construed-as-up-front-should-not-be-taken-out-of-context-1st-few-if-any-investment-bankers-or-banks-will-grant-funds-without-fees-in/.