Business121 Small Business Newsletter #52

In this week's Business121:

1. The YouTube phenomenom
2. Google Marketing - How to avoid new site frustrations
3. 7 Tips to beat those late payment culprits
4. How to handle the growth of family friendly legislation
5. How to negotiate the meeting 'minefield'
6. October red tape bonanza for small firms
7. Small Online Companies lose out to call centre crime
8. Ageing Job Applicants cannot be asked for qualifications
9. Entrepreneur Funding Workshop - 12th October - British Library
10. Small Firms Summit - London 18th October 2006
11. Testing the market for your food produce

The YouTube phenomenom

If your dream is to start a business and then to sell out to a multi-national for multi-millions in a matter of years, this week's sale of YouTube should give you all the inspiration you need.

If you're not familiar with YouTube, it's basically a website where you can upload your own home made videos and watch video clips that others have created. A pretty simple concept, really!

During the 19 months it has existed, YouTube has seen truly phenomenal growth. According to its own figures, a staggering 100 Million videos are watched on its website every day. Stats from Alexa show that the site is the 8th and 11th most popular website in the US and the UK respectively.

With it reaching such a mass market, it soon became hot property and was snapped up by Google for £1.65 Billion, which is about £800 million in real money, and the equivalent of £1.5 million for every day the business has operated.

With such a massive price tag, you might reasonably expect to see big profits at YouTube, but The Economist estimated that the business was actually losing £270,000 per month!

Many commentators are staggered by the valuation placed on such a young, loss-making company like YouTube. For others (me included), it is confirmation that with the right idea and strategy it's possible to create a hugely successful business.

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Google Marketing - How to avoid new site frustrations
How Google's "sandbox" and the age of a website can conspire to frustrate new website owners, and some tips on how to minimise the pain of marketing a brand new site.

7 Tips to beat those late payment culprits
A financial services company is urging owners and managers to stand firm over unfair treatment and late payment from their larger counterparts. Includes 7 tips to stop late payers.

How to handle the growth of family friendly legislation
Both employers and employees stand to gain when parents see their rights to flexible working extended further than ever through the Work and Families Act 2006. An HR expert provides practical advice for those employing working parents.

How to negotiate the meeting 'minefield'
Modern workplace gatherings are a hotbed of office politics, power struggles and psychological warfare says new research released this week.

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SMALL BUSINESS NEWS
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October red tape bonanza for small firms
A business pressure group is warning that new laws coming into force this month could push many small firms to the limit. Changes in age discrimination laws, fire regulations, the National Minimum Wage and maternity rights will pile the pressure on smaller businesses.

Small Online Companies lose out to call centre crime
Anti-fraud specialists claim small online companies are losing out to overseas call-centre crime, and calls for big business to bring their call centres back to the UK.

Ageing Job Applicants cannot be asked for qualifications
The introduction of the Age Discrimination Act will force employers to rethink their job requirements if these include a university degree or ‘A’ levels.

Entrepreneur Funding Workshop - 12th October - British Library
Entrepreneurs in London seeking information about sourcing funds for growth and developing their business plans are being invited to a morning workshop at the British Library organised by gateway2investment

Small Firms Summit - London 18th October 2006
The Forum of Private Business will host the first ever national summit for private businesses on Wednesday, 18 October 2006 at Central Hall, Westminster where the keynote speaker will be David Cameron, MP.

Testing the market for your food produce
Selling your wares at a farmers' market is an ideal way to get customer feedback before launching a product to a wider audience, suggests this article from the Times.

** For the latest Small Business News, visit http://www.Bytestart.co.uk **

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