Company Position, 2nd Quarter 2010

One thing we’d like to start doing a little more is to post information about how the company as a whole is progressing, what we’re looking at, and where we’re going.

Obviously there will be things that we have to keep quiet, such as our plans for world domination (oops!) or commercially sensitive work, but by and large a lot of information will generally need to be published in the future.

The reasons are simple – by being open about our position we can help keep our clients informed.  They are genuinely interested to know where we’re going, what product plans we have, and the services we currently offer.  I’m not going to drill too deeply into the information but provide an adequate enough overview.  I’ll try to stick to the same format and release information on a quarterly basis.

Amount (£) Change on previous year (%)
Sales 67,641.51 +448
Full Time Employees* 4 +100
Contract Employees 1 n/a

* Equivalence used – two part-time employees working 37.5hrs count as one employee.

As can be seen, turnover has increased massively in a year, and far beyond what the change in headcount would lead you to expect. In effect we’ve learned to do more per person. Some is down to certain efficiency measures, including moving to a quieter and more productive work environment, but one of the biggest changes is due to us working out exactly what we should be charging on jobs. We tended to underestimate the scale of most jobs and effectively halved our hourly rate. This is an experience thing – you never realise how complex some projects can be until you try them.

Intellectual Property Growth

Another key area of growth has been our IP portfolio. With a number of very successful site implementations behind us, we have developed a number of innovative solutions to complex business problems. Whilst first projects, where we develop new IP, often make us no money, subsequent projects of a similar type can bring us significantly improved margins. We expect this to continue feeding our future growth.

Trimming the Fat

We’ve also started to shed some projects. We still like to create free GPL projects, but we now look far more closely at our strategy around it. Do these projects enhance our standing in the community? Do they bring in any support money? Often the answer isn’t quite as positive as we’d have hoped and, as a consequence, we have already started to wind down our project. We will keep hold of the brand and may build something new with it in the future, but for the time being the income earning parts of that site will be divested back to the original interconnect/it brand.

The Future

We are planning to release some developer plugins to help people achieve more with their WordPress installations. Most will be sold as premium offerings, with the possibility of creating stripped down versions for free download.

We will be developing our training business using some of the latest technologies available.

We will be offering creating some high end products for WordPress, possibly as fully hosted solutions.