-- Posted Thursday, 22 September 2005 | Digg This Article
Chief Executive Officers (CEO’s) of Junior Mining Companies and of most major companies (mining and otherwise) with a staff of five or more people have their hands full. For companies with five or fewer employees, the task is even more daunting. Usually, these CEO’s are busier than a long tailed cat in a room full of rocking chairs. They have innumerable fires to put out on a daily basis, and as importantly, new projects to discover, the staff to direct, shareholders and customers to appease, press releases to create, and funding to initiate.
As normal fare, these people deal with the Projects, the Funding, the Promotion, and the Public.
I should think that is a full plate for any manager. And yet there is always more to do! For the sake of CEO’s, staff, shareholders, and customers alike, I should like to put forth what I believe are the Eight C’s of quality company interaction with your particular community or shareholder base.
To wit, they are:
1. Communication:
Keeping your community informed of all the news and pertinent information affecting your company. Learning how to communicate and when to communicate is as important as what you are communicating.
2. Clarity
It is vital to keep that communication clear. Don’t muddle it up with extraneous prose, facts, and antidotes that confuse your readers. Your average investor is always struggling to keep up with the latest technological reports, statistics, and press releases. They are as clear as mud to geologists (sic) but extraordinarily difficult for a lay person to comprehend. The easier it is to understand, the more they appreciate it and the more it builds their confidence, especially the confidence to invest in your company. Esoteric is not a benefit in these types of situations.
3. Credibility
It is important to keep the communication truthful and credible. Minimal “spin” should be the order of the day. Some spin may be necessary and at times even necessary; but please, most people are not dummies. They fully understand when you are trying to sway public opinion. Some of the biggest mistakes I’ve seen companies make is in treating their shareholders as the aforementioned dummies. If you gain a reputation as a straight shooter, it will serve you well; especially when you need it most which is in times of crisis.
4. Concise
Keep it short and sweet; this is an age when people don’t or won’t find time to read long-winded correspondences and articles. Unfortunately we all are developing shorter attention spans because life seems to become busier by the day. KISS is not a bad way to go. Keep it Short and Sweet or as I learned it “Keep it Simple Stupid”! This is a lesson I personally am still learning!
5. Continuity
I believe this to be one of the most important ones in so far as the Junior Mining Companies are concerned. Different CEO’s have different styles. But your shareholders need and sometimes even demand a good deal of hand-holding and the more information they have, the more they feel they are in control. Press releases once every five or six months sends the message that we don’t care or don’t have time to address your needs. I know it’s expensive to release them—it can run up to five thousand dollars “a pop” depending upon which vehicles you use and how large your database is. I know there are often times when there is simply not enough material information pertinent to company activities to warrant a release. I know how “tight” and restrictive the Exchange Guidelines are as far as any promotional orientation is concerned. But all of this is not significant to shareholders who are waiting for news and not knowing whether they’ve made the correct decision investing in YOUR company. Keep news flowing on a very regular and continuous basis, even if it’s about less than earth shattering events.
6. Creativity
This brings us to creativity. There are many different ways to say the same thing and there are many different vehicles out there in “media land” in which to say it. Find a way to communicate with your shareholders. Perhaps a release to your database can be just as effective as an official Press Release. If necessary, utilize a third party vehicle (agency/independent analyst) after asking your shareholders if they’d like to be on this third party list. Look, I know most of you feel as though your hands are tied, but there are ways to be creative and to get your message, news, image, and logo out in front of the public. Web site ads (otherwise known as banner ads) are very effective when combined with articles about your projects and activities. They also have a cumulative effect. Web ads are not so much about the “now”; they are about the future recognition of your organization. When your company discovers or does something significant, people have trust in the fact that you are a familiar face. There are many ways to be creative—don’t settle for the “same ole same ole”. I would also encourage your staff to be creative and reward them for those creative ideas.
7. We will add a few others for your Consideration!
Complete, Courteous, Candid, Competent, Control, and Careful. I will allow you to fill in the blanks on these six additional C’s. However, we are talking about telling the complete story as candidly and as courteously as possible. You want to be in control with your news and information; releasing it when it suits your purposes and not because there is a crisis on the table. Be careful to follow these guidelines because if you forget even the simple ones, they can come back to haunt you.
8. Connection
This last one, Connection, is without a doubt the most important one. You are trying to connect with your investors, shareholders, friends, media, and other entities interested in your company and your activities. You want to connect with them for a myriad of reasons, not the least of which is getting your stock price higher and elevating the profile of your company. Making the connection is establishing trust and you establish trust by utilizing integrity. Follow the C’s whether in news dissemination or personal contact and make that connection for a better understanding of your company.
I hope I followed my own advice and made a connection with you.
Until the Next Time,
D. Stewart Armstrong
Consultant to the Junior Mining Sector
consulting@seacoastpub.com
-- Posted Thursday, 22 September 2005 | Digg This Article
