Why benchmarking is good for you

It’s all very well knowing that turnover is vanity and profit is sanity (and of course, that Cash is King), but how do you evaluate whether the profit that you are successfully making – assuming that you are breaking even and making that holy grail of profit on a monthly basis – is as much Read the full article…

Benchmark Bulletin 8 – latest look at creative-business-finances

Benchmark-bulletin-8

In this our 8th bulletin we’ve decided to look at how the profile of your business model changes as the business grows. As ever the data is drawn from our users so it’s real creatives with real businesses that drive both the data and what we do. This bulletin should help you ask questions about Read the full article…

Dude, where’s your benchmark?

As MyCake’s Sarah Thelwall heads over to School for Creative Start Ups today to meet a variety of ambitious entrepreneurs for their cashflow workshop, AND as Global Entrepreneurship Week is in full swing, we launch the 7th Benchmark Bulletin in our five year history. Surf’s Up! In the bulletin we look at where the MyCake Read the full article…

Free or charged for: the MyCake take on this

We’ve been mulling over the Creative Boom article which asked the question ‘Is there a turning tide against free online services?’. Here at MyCake we’ve always thought it important to charge for our main products and services whilst providing either a free trial period or a free ‘lite’ product. Why do we take this position? Read the full article…

Benchmark Bulletin 6: indirect costs that add THE LEAST value during a recession

Well now there’s a subjective question if ever we asked one! So, at the risk of folks pouring scorn on a simplistic view of the world (and lack of appreciation for their beautiful studio/utility bill/accountant) we’d like to propose that the following areas are least likely to add huge value to your business and therefore Read the full article…

Benchmark Bulletin 6: indirect costs that help you earn your way out of recession

Continuing MyCake’s research into how creative entrepreneurs are weathering the recession, we now turn our attention to indirect costs in MyCake Benchmark Bulletin 6 (having covered income and direct costs in Bulletin 5). Using comparisons between the 2008-9 (referred to as 2009) and the 2009-10 (2010 from here on) we look for trends in how creative businesses are reacting to Read the full article…

MyCake Benchmark Bulletin 5: changing cost base in a recession

One of the questions that MyCake is asked on a regular basis is how are creative entrepreneurs weathering the recession? So we dedicated the recent Benchmark Bulletin 5 to answering that question, making comparisons between the 2008-9 (referred to as 2009) and the 2009-10 (2010 from here on) to see if we could spot trends in how creative businesses Read the full article…

A 3D view on benchmarking data using triangulation

The latest MyCake Benchmark data has invited some comment. We asked Iain Bennett, an expert in policy and strategy development for the digital and creative industries in the Northwest, to give us his three dimensional view of the data and its complex message. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ One of the greatest advantages that the MyCake Benchmark Bulletin offers to creative businesses is that the insight Read the full article…