It's 25 years ago today that I joined Business Hotline Publications (BHP), a tiny publishing company located above a party and fancy dress shop in Clapham Junction, South London.
BHP became Bizhot, then BHP Information Solutions and then Atom Content Marketing in 2013. We've seen the internet's rise to prominence during that time, which has changed things beyond recognition, but through it all we've adapted and kept moving forward.
It's been quite the journey and I've learned many things along the way. In this article are my top ten key business lessons, which may hopefully help other small-business owners and managers.
This picture of some of our team back in the early 2000s makes me realise just how long 25 years is!
Ten key business lessons I've learned from my 25 years at Atom
1 Be obsessive about cash flow
You need a watertight system that enables you to know exactly what's coming in and what's going out at any given time. You should forecast at least three to six months ahead, and you can't afford to bury your head in the sand if cash flow problems look likely – you must take action.
Like any small business, we've had some “sticky” times when cash flow has dominated my every waking moment, but even in the better times, cash flow remains a priority. Sales might be coming in, but that doesn't necessarily equal a healthy cash flow so it's important to review on a regular basis.
2 Don't be afraid to be different or take risks
Back in 2008, small-business advice websites were, well, dull and predictable. "Donut" was our project name for a new series of websites we wanted to develop to offer something altogether different, built around partnerships, collaboration and taking a fresh approach to giving start ups and small businesses the know-how they need to be more successful.
Why not make it the name? American spelling for a company obsessed with accuracy? Meaningless on its own, but, on the other hand, it was different. It attracted attention and brought some much-needed colour to the small-business advice world. We've never looked back.
3 Success is built on strong relationships
I've met some of my best friends (and husband, but that's a different story!) thanks to Atom. As a team, we've shared the highs and lows and ultimately, we've supported each other throughout. Trust, communication, honesty, respect, gratitude and transparency are critical and fundamental to strong relationships and a winning team.
4 You can't shy away from tough decisions
We all know that sinking feeling when something isn't working or going the way you'd hoped. Running a small business often means you have to trust your instinct, carefully consider your options and act quickly and decisively. Having to take difficult decisions is part of it.
5 Work with great freelancers
Alongside our talented, hardworking in-house team, Atom can rely on a brilliant team of freelancers. We've worked with some of them for more than 15 years. This gives us the flexibility to work with the right person for the right job when we need them. Believing that it's always cheaper to keep things in-house can often be a false economy. As a business and leader, know your limitations and reach out for freelance support when necessary.
6 Don't be afraid to change
Until 2008, BHP was invisible to small businesses. Mainly, we created white-label written content for large public and private sector organisations. That changed when we were faced with losing a large chunk of our revenue because of the demise of Businesslink.gov.
So, we had a rethink, which led to us launching the Marketing Donut website with Google, Royal Mail and HP as sponsors. Start Up Donut and the other Donut websites soon followed, and we quickly developed a new revenue stream. Being prepared to adapt quickly and identify new opportunities has always underpinned our success. And it's been hugely rewarding to see the Donut websites – and now podcast – become so successful.
7 Celebrate your wins, big and small
There are the big moments, but, day to day, there are plenty of small wins that shouldn't go unnoticed. One of my favourite memories, back in the day, is of our sales director at the time celebrating a big sale by playing the inflatable guitar outside the old Arding & Hobbs department store in Clapham Junction, while we whooped and cheered from our office window. These days it may be gifs and whooping across Teams, but it all contributes to the feeling of a team working together and driving forward.
8 Say yes and work out how to do it later
Without doubt, maintaining a positive, can-do attitude makes a huge difference when you're running a small business. There have been many times throughout the past 25 years where this has pushed us forward as a business. As long as the opportunity aligns with your vision (in Atom's case, helping small businesses succeed), and it isn't a distraction from your core business, anything is possible!
9 You've got to have a vision
Having a clear vision for your business and setting objectives to that end ensures that you and your team know where you are heading and that you are all pulling in the same direction. It's not the glamorous stuff but monitoring key performance indicators and regular reviews against objectives will keep you on the right path.
10 Enjoy the journey – but remember why you're doing it
I can honestly say there have been very few days where I haven't enjoyed working at Atom. It's been hugely rewarding to see the business grow from a publisher selling factsheet licences on floppy disk through to a content marketing agency running the UK's biggest small-business advice websites and everything in between. We work hard at Atom, but we also know that life is there to be lived and we build our priorities around that.
Copyright 2022. Article written by Lisa Williams, Atom Content Marketing