Duly Noted: PR 2.0 is nothing new in Beverly Hills

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Spent the day meeting and exploring small business sale opportunities with shop owners throughout Beverly Hills yesterday.  Now Beverly Hills, one might think they’re all swimming in money, perhaps have an unrealistic perspective as to what the rest of the world deals with, in regards to operating a small business – not so.  These small business owners are just as down to earth and connected to reality as any other client I’ve ever dealt with.  Sure they’re dressed well and have a keen eye to detail, but at the end of the day, the face the same challenge any other business owner: profitability.  And when your rent is sometimes over $10K per month, it’s not always a 90210 happy ending.

There is one difference in the Beverly Hills mindset.  Image is king.  Good times, bad times, there is no exception and the show must go on.  The store fronts are pristine, the people are dressed well and they are there to elevate their customer’s experience beyond all expectations.  These people are determined to create raving fans and evangelists out of their clientele; PR at it’s finest if you ask me.  However, it’s not traditional PR that is making these places extraordinary.  In fact the media and reporters are rarely around during regular 9-5 hours.  Noooo, this is PR 2.0 or social media’s doing’s.  It’s word of mouth advertising that keeps these shop owners’ businesses top of the mind with their clients.  They’ve been practicing PR 2.0 for decades now and believe me, they know it.
So in speaking with these small business owners (potential sellers for me), I quickly realized that not just anyone can or will be able to buy these businesses.  I must be sure to look for the kinds of buyers who appreciate the value of presentation and “personal” public relations.  My ear must be to the heartbeat of the social media drum and I must pay very close attention to what’s being said;  I must also try to read into what’s not being said in the social circuits too.
I very much look forward to the next six months of focusing on the Beverly Hills market.  I think the culture fits right in line with my latest MBA studies as we’re exploring all the facets of PR 2.0.  TWO reasons to hang out in BH…I’ll take it!
This entry was posted in Business 2.0, business brokering, patty rappa. Bookmark the permalink.

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