Many CEOs and Founders avoid the limelight because they’re busy building their businesses. They work IN their business with a focus on increasing revenue and profitability. Specifically, they are busy developing new products, serving more clients and customers, setting prices, increasing efficiency, and doing other things to build their business. These are all crucial things required for business success; however, CEOs and Founders may overlook the importance of working ON their business to increase value and to make it attractive to a potential future investor or buyer.

One way to work ON their business and increase value over time is through earned media. Think of the Top 100 lists, Ernst & Young Entrepreneur Of The Year Award, Inc. Female Founders 100, and Chamber of Commerce ATHENA Leadership Award. These are a few examples to get you thinking.

Earned media differs from paid media, including advertising or company branding, also called owned media. Earned media includes articles by media outlets and interviews with company representatives. Winning awards is one way to generate positive earned media for your business.

Awards help grow your brand, which enables you to build trust with your potential clients.

To win awards, you need to apply. Now is not the time to be shy or humble. Instead, be strategic and proactive.

Apply for the right industry awards. Enter your company in national, regional, and local contests to win awards. Get you and your business some recognition.

You don’t have to do the work yourself, assign responsibility to someone in your company, or hire a public relations firm.

Earned media is an untapped goldmine that can boost your exit value. Earned media increases your personal and business brand value while building your client base. People prefer to do with people they know, like, and trust.