Step Three: Profit

We had a board meeting last week. You can see half of it above via the magic of timelapse. (The half of the table you mostly see consists of Tom and Gary. The half you briefly glimpse is Anne & Ben. You never see me.)

Lots of things were decided. Much exciting news was newsed. But the best bit was this, as detailed in Gary’s CEO memo:

In our second full year of trading we’re very proud to say that we’re profitable. We’re not talking about a lot of money – just single figures as a percentage of our sales. However, it is enough to help ensure we can keep providing the levels of service that our customers seem to really appreciate. It’s also just enough to allow us to invest in developing our service.

We now employ full-time in Glasgow and London a small team of very clever people who are working on new Newspaper Club products. They’re developing ways to convert disparate pieces of useful and interesting digital information into printed formats that make it all a real pleasure to read. 

It’s an exciting time. We really believe that this pretty hoary old medium has a lot of life yet in it. In fact, the potential of newsprint is enormous – but only when it’s usefully integrated with the web. Hold the front page!”

Exciting isn’t it?

There are some changes afoot – me, Gary and Anne are getting new titles, we’ve got plans for new products and we need to talk about investment – Anne’s going to add some more detail on all that later in the week. (Unless you’ve got a few hundred grand going spare, in which case gives us a shout). In the meantime; we’re in our second year of trading, we’re employing great people, we’ve got brilliant customers and we’re making an actual profit. Hurrah.

 

Posted by Russell | Comments (2)

Filed under: developments, running a business

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2 Comments

  1. [...] The Newspaper Club hits profit, continues to expand. [...]

  2. Fri, 10 Aug 2012 at 8:31 pm
    Dan Permalink

    Nice! Well done!

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