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Posts Tagged ‘Law’

Why I started the Donut

I’ve always found small businesses compelling – what makes them work and the challenge of going it alone are to me the most interesting questions in business. And after 19 years of running my company, BHP, I admire SMEs more than ever.

Running your own show is tremendous fun, especially if you know what you’re doing and can manage the 101 challenges that come your way every month. Which is where BHP content comes in.

We’ve been producing our expert how-to guides, sponsored by blue chips and government organisations, for nearly two decades. But, of course, as an entrepreneur, I wanted something new to do. In a (rare) idle moment online, I scouted about for a really good marketing website for small businesses. There wasn’t one.

So we decided to do it, launching on 20 April 2009. We built small and medium-sized enterprises (SMEs) their own site with everything they needed to make their marketing thrive. Founding partners Google and Royal Mail backed us all the way, as have our ever-growing list of sponsors such as Vodafone and Yell.  

What we’ve achieved in a year

As well as Marketing Donut, we launched two more Donut websites to cover starting up and law. We’ve just announced that the fourth site to launch will be IT Donut, scheduled for the week commencing 23 August.

We use 300 top people to provide the expert advice on the Donuts, but, for me, the real experts are also the users. Before we started work, we asked people running small businesses what they wanted from a site. They told us they needed fast, practical and accurate answers to their questions. The Donuts give SME managers that, free. Tools, templates, checklists, the lot: plus the news their business needs to know.

All the Donuts report live on major small-business happenings – we were the first business advice site to break news of the rise in minimum wage on Budget Day. MyDonut, the e-newsletter, now goes out to tens of thousands of people a month – next year numbers should top 100,000. (This is in addition to the 300,000 subscribers to the SME newsletters that we publish for our clients. Life at BHP is one big deadline.)

Since the launch a year ago, the Donut sites have fast become a key player in the UK small-business scene. Our Twitter accounts have over 40,000 followers and our Twitter team picked up two national awards last year.

Local versions of marketingdonut.co.uk, startupdonut.co.uk and lawdonut.co.uk are syndicated to our partners, both nationally and in the regions. Thirty-five organisations already have their own Donut websites and more are coming on stream every month.

The Donut is a strong business model, because it is a win-win for everyone involved. Crucially, BHP had already invested several years building up the strategic relationships and the content before launching the first website. As with most successful SMEs, we always knew that the Donut project would not be a sprint to success, it would be a marathon.

2010-2011: what’s in it for you?

As we expand the core “answers to your questions” pages of the Donuts, we will continue to cover news and key topical issues for you. For instance, this month the Law Donut explains how to cope with recruitment and redundancy as the economy remains fragile, as well as what to do when all your staff want time off for June’s World Cup.

We’re currently building the IT Donut, which will be a comprehensive resource for demystifying IT, troubleshooting and trading online. It will become the first place any small business turns to when they have a tech problem that needs sorting fast. We’re currently recruiting experts who will rid us all of pesky IT stress forever, I hope.

We’ll also be providing a local service for users, thanks to our partners. Law firms, chambers of commerce and enterprise agencies are all getting involved. This is really exciting, as it gives users the best of all worlds – a huge library of constantly updated advice from experts throughout the UK, combined with local content.

An SME owner’s work is never done, so I’m signing off to tackle the above. Before I go – thanks to you, our users, and all our partners and experts, for a great year.

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There’s a dilemma when you are starting a company. There are lots of boring essentials like company formation, VAT, Data Protection Act, employment law and, depending on which industry you are in, a host of other legislation. Yet complying with these doesn’t help you to sell anything, build a customer base or most importantly turn a profit.

It’s incredibly difficult to find the balance between being too gung ho about regulations (with risks starting at inconvenience and ending in prison), or over egging things, with a bigger risk of business failure. Hovering around are lots of professional advisers with fees to match – that’s the accountants, lawyers and consultants. Unfortunately it’s hard for them to be entirely impartial as their business is about charging fees.

Here are my top tips for getting this balance right.

  1. First you need to understand the issue. You need to know what laws may apply to you. Books and the web are the cheapest forms of education along with free seminars from Business Link or professional advisers offering free consultations in the hope of getting your business.
  2. Then make sure you stay legal with the minimum of work and elaboration. Remember your principle aim is to serve customers, not produce a gold encrusted employment or health and safety manual.
  3. Be appropriate. If you work in an industry that is potentially hazardous, then actually health and safety is the top priority. If you are selling cuddly toys over the internet, just make sure they don’t contain dangerous substances or harmful parts.
  4. Until you are cash positive, don’t worry about issues that can wait until tomorrow.
  5. Once you know that the business has a future and you can afford it, start employing the professionals to help.

When you’re starting off, anything that isn’t directly related to making sales or pushing the business forward is an irritant. But completely neglecting other issues can cause huge frustration when you are forced to comply; it can also substantially reduce the value of your business or may even cause its demise.
It’s different if you are well capitalised and have had previous business success. But if this is your first start up, then these tips are well worth a thought.

Chris Barling, Actinic

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