By Lynsey Barry:
Five not 10 is three. How is that possible? They say time flies when you are having fun and that is true here.
The last three years have flown by and here we are, about to become a team of 10, with a refreshed business strategy and the realisation that we are not in Kansas anymore. We are a bonafide business, profitable, grown up and only just getting started.
Before we founded Five not 10, Pat and I got a lot of advice about starting a business. Mainly that it was hard work and we would never sleep again! While we inevitably had ups and downs, the first two years were, dare I say, easy. We had a great network to draw from, no office or serious outgoings, and some key employees to help us get out of the starting blocks. We also had two things that I now know are imperative, realism and the need for financial stability.
Wait, what? When you run a business, aren't you supposed to be growing at breakneck speed and chasing revenue at all costs? Well, I would argue that breeds a short-term mentality and we are here for the long term.
In the last few months, we have been thinking about our next three years. It is quite different running and growing a business at the size it is now, and we are stepping up a gear in every aspect of our work. But at its heart, Five not 10 still has the same values and vision we set out on day one. To have a profitable and ethical business, that does proactive and valuable work for our clients, provides a safe, supportive, and exciting career for our team, and allows us to have a good work/life blend.
So, what is next?
In year four we will streamline to grow. We are going all in as a tech B2B agency. We have been pretty much doing that anyway, and by specialising we can build our proposition to suit our clients and prospects even more perfectly.
We are honing our simplicity message, making it more tangible and taking feedback and learnings from our customers to make sure it delivers on its promise.
Building our core PR offer is a priority. Led by our Associate Director Anna, who has brought a new dynamic and vigour to our team in the most brilliant way, we will grow our existing client base and add new technology sectors to our portfolio.
Another key focus is supercharging our content team. This means continuing to offer first-class copy to our PR clients but also to our content-only clients. These clients now make up a considerable proportion of our revenue. Whilst we have embraced AI and the changes it has brought to our business; we have also homed in on the key areas of content that humans create the best, and we are collaborating with our clients more than ever.
And Pat and I are building a new strategy and insights offer. Helping companies set themselves up to deliver ongoing communications campaigns that lead straight back to the objectives of the business.
As PR professionals we know that linking comms back to business objectives clearly and explicitly is when we can make the most difference. However, it is often the part that gets rushed, underfunded, or completely overlooked. We are confident our simple approach will make this essential part of the comms process a no-brainer instead of a nice to have.
So, here’s to year four as a Five not 10er. Thanks as always to our first-class team, our clients and to everyone else who has and continues to support our business. Without you, we would not be living our dream.
And living our dream we are.
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