Timings

00:15 - Scene 5.1 None of your business

04:55 - Discussion between Mike and Russell

09:20 - Duty of Confidentiality

10:45 - Obligations in a business

12:00 - Openness with competitors

13:05 - Family in business and confidentiality

15:30 - Intellectual Property (IP)

17:12 - Digital Confidentiality

20:03 - Tip #1 - Understand your obligations

20:51 - Tip #2 - Breaking a confidence process

21:23 - Tip #3 - Put security measures in place

21:57 - Tip #4 - Train your people on the privacy rules

22:03 - Tip #5 - Plan for a Breach

23:02 - What's next?

Useful Information

Confidentiality (@06:40)

Confidentiality in the workplace: What you need to know - Article (DirectLineForBusiness)

How employers can protect confidential information - Article (PersonnelToday)

The importance of confidentiality in the workplace - Article (Hiscox)

Defining Professional Confidentiality in practice (@09:20)

Ethical Principles and Code of Professional Conduct - Document (UKCP)

Ethical Framework for the Counselling Professions - Article (BACP)

Accounting Professional standards - Document (AAT)

Code of Professional Conduct or HR/Personnel - Document (CIPD)

Policing Code of Ethics - Document (College of Policing)

The Police (Conduct) Regulations 2008 - Schedule (gov.uk)

Top tips for ...(@20:03)

Know what you need to keep confidential

Establish policies, processes and procedures to define what you do

Protect the information

Train the team in the requirements and the rules you've established

Define what to do WHEN a breach occurs

Basic Technological Security ...(@21:23)

Cyber Essentials - Site (ncsc.gov.uk)

Episode script

None of Your Business None of Your Business

CONTINUITY: Jakob has been unexpectedly invited to Nero’s for a midweek evening meal. Nero waits at the door as Jakob walks from his car to the house.

NERO: (incredulous bellow) 2 and a half million quid! Two and a half MILL-E-ON What the hell man?

JAKOB: “Man”? Never heard you use that before – what are you yelling about?

NERO: You are in to Sydeline to the value of 2 and a half million pounds already. With no revenue on the books!

JAKOB: How the hell do you know that?

NERO: Zelda told me at lunch.  It was all I could do to stop myself falling off my chair.

JAKOB: What the…

NERO: It would have been cheaper for you just hand me the DB5 and go build yourself a new one from scratch

JAKOB: (irritated) Can we go inside please?

NERO: Had better, you probably need a drink and a lie down

JAKOB: humph

NERO: Take a seat Jake

JAKOB: Its… Oh stuff it.  What in gods name did Zelda tell you?

NERO: She gave me a full update on the works at the unit, the product line, the whole nine yards.  I was impressed until she showed me the balance sheet.  Honest to goodness I nearly swallowed my gold tooth

JAKOB: Firstly, I’m not happy about this.  I will have to talk to Zelda about this breach of confidentiality.  Secondly, it’s none of your business how I go about making your daughter a successful business owner.

NERO: It is when I’m your friend too

JAKOB: Well, yes, I guess.  However, things are a little different now – we’re in competition both in the product marketplace and..

NERO: (interrupting) I gave up on that product line you know

JAKOB: I know, I know, but Zelda is confident she can iron out what you couldn’t

NERO: And my 12 person product development team

JAKOB: Yes, yes and them

NERO: And my marketing team, sales team and manufacturing people

JAKOB: Yes, yes, yes… All them too

NERO: Honestly I wish she’d piped up at the time (tongue in cheek)

JAKOB: I bet… Anyway, we are in competition

NERO: ish

JAKOB: ALRIGHT! We are looking to compete with you …ish AND we have a wager

NERO: And you fancy my daughter

JAKOB: Yes, no.  That’s not the point

NERO: Asked her out yet?

MUM: Oh hello Jake, so lovely to see you.  Is Zelda with you?

JAKOB: Hi Mrs Zero, lovely to see you too.  We

Some business confidential information is leaked from the company. How, who, and what is the impact?

It’s easy to be relaxed about privacy rules in business dealings in this supposedly transparent and open world. Should Jakob and Zelda be worried about Zelda’s dad knowing the inner workings of Sydeline? How important is confidentiality in business?

Mike and Russell discuss privacy rules, company and personal information confidentiality.

Timings

00:15 - Scene 4.1 A Matter of Equity

05:28 - Scene 4.2 The Devil and the Angel

06:52 - Scene 4.3 It's Katherine Kash

09:25 - Discussion with Dan Orasnjak

09:48 - Lang Bennetts Introductions

11:04 - Organisational Structures

14:30 - Share allocation

16:00 - Equity

17:48 - Angel Investors

19:25 - Investor exit strategy

20:11 - Partnership and Shareholder agreements

21:32 - Lessons: Sole Trader tax return planning

24:15 - Lessons: Enterprise Investment Scheme traps

26:00 - Top tips for Start-ups

27:40 - Research and Tax Credits

28:32 - What's next?

Useful Information

Organisational Structure (@11:04)

Choosing the right business structure - article (gov.uk)

Shares and Equity (@14:30)

Setup a private limited company - page (gov.uk)

Investors (@19:25)

EIS - Enterprise Investment Scheme - page (gov.uk)

SEIS - Seed Enterprise Investment Scheme - page (gov.uk)

Angel Investment Network - Site (angelinvestmentnetwork.co.uk)

The difference between angel investment and venture capital - article (virginstartup.org)

Top tips for those thinking of starting a business (@26:00)

Know your market

Prepare Profit and Loss forecasts

Understand your cash flow

Plan for your tax

See a professional sooner rather than later

Know where you are going

Episode script

A Matter of Equity The Devil and the Angel It's Katherine Kash A Matter of Equity

CONTINUITY: Zelda and Jakob meet, once again, in her temporary office at the Dog and Bone.  Zelda sits staring intently at the screen of a brand-new laptop.

JAKOB: Morning Zelda, thought I’d find you here… You found any premises yet?

ZELDA: I’ve been negotiating with dad on the vacant industrial unit he has on the Bunkum Industrial Estate

JAKOB: And how has that been going?

ZELDA: Well, he keeps mentioning money and I keep reminding him that I’m his only daughter and I’ve never asked for anything… Like this!

JAKOB: And his response was…

ZELDA: He knocked 20% of the rental price

JAKOB: Well, that’s not bad

ZELDA: To £5000 a month

JAKOB: Holy smoke! What size is this place?

ZELDA: I think he said 12 and half thousand square feet

JAKOB: (Choking) So, you haven’t been to see it yet! Let me have a chat to him about it.  I am a bit concerned that you are aiming too big as a start up.  Why would you need all that space?

ZELDA: Well, the product needs a lot of people in manufacturing.  Automating it with machinery will reduce the space needed but adds more expense.  Look, I have been working out the options (passing her mass of paper work over the table)

JAKOB: You have been busy… (Flicking through the first pile). I think I need to introduce to you one of my team, Katherine.  She’s my money whizz and can help you put a realistic finance plan together.

ZELDA: Oh that would be great…  That will be weight off my mind.

JAKOB: Katherine will help you put it together, not do it for you.

ZELDA: Oh, ok… I’ve got other things to do, but I guess th..th..that’s fine

JAKOB: That brings me onto another matter.  I’m ready to register Sydeline with Companies house and we need to decide on the shares

ZELDA: Well, 1 share for me…  That’s it isn’t it

JAKOB: Ok, right… So… What about me?

ZELDA: (Sweetie) You’re my Angel?!

JAKOB: Yes… Yes I am.  (Dwelling on the way Zelda said it) OK, let’s put it another way.  What are you putting into the business

ZELDA: 110%

JAKOB: Money-wise!

ZELDA: Oh, well… I could put my savings in, thats about 18,000

JAKOB: Riiiiight! What about your apartment?

ZELDA: Dad bought that for me

JAKOB: I know, but you’re lucky to not have a mortgage on it then – you could put that on the table too – you are serious about this business aren’t you?

ZELDA: Yes, yes, absolutely.  Oh heck, I thought you and dad would help me get going!

JAKOB: Well your dad hasn’t handed the key of that industrial unit over for nothing so I would suspend that idea for a while.  And, as you said, I’m an Angel Inve

Investor Jakob wants to help, and has the money… but what will he get in return? Then there is the business finance setup planning – who are you going to call? And, how much for premises!

Russell dumps Mike in preference for Dan Orasnjak from our accountants, Lang Bennetts. Dan provides some financial insights to starting and running a business and points out where Sydeline are not taking the best approach!

Timings

0:27 - Scene 2.1 Like a Dog with a Bone

5:54 - Discussion

6:02 - Naming a company

7:42 - Structuring an organisation

11:43 - Business Banking

12:20 - Social Media

14:30 - Business Advice Books

17:17 - Other advisory services

17:45 - Business Networking Groups

Useful Information

Company naming, structure and business operations setup (@6:02)

Search the UK Companies House Register

Business Name Builder (Spotify)

Multiple keyword domain checker (NameMesh)

Domain Search (InstantDomainSearch)

Coming up with a company Name (VistaPrint Blog)

The Psychology of Colour in Branding article (HelpScout)

Foreign Word Safety *Not Secure*

Trademark Register Search

Choosing the Right Business Structure article (CompaniesHouse)

Small Business Money Saving Article (MoneySavingExpert)

Social Media Courses (@12:20)

The Six o'clock Club Events (Eventbrite)

Recommended Books and magazines (@14:30)

Start with Why by Simon Sinek

The 7 Habits of Highly Effective People by Stephen R Covey

The 8th Habit: From Effectiveness to Greatness by Stephen R Covey

Who Moved My Cheese: An amazing Way to Deal with Change in Your Work and in Your Life by Dr Spencer Johnson

The Intelligent Investor: The Definitive Book on Value Investing – A Book of Practical Counsel by Benjamin Graham

The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas Stanley & William Danko

Zero to One: Notes on Start-Ups, or How to Build the Future by Peter Thiel

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T Kiyosaki

Six Thinking Hats by Edward De Bono

The E Myth: Why Most Small Businesses Don’t Work and What to Do About It – Michael Gerber

The Art of Thinking Clearly: Better Thinking, Better Decisions by Rolf Dobelli

The Richest Man in Babylon by George S Clason

WIRED magazine

Other places for Advice & Guidance (@17:17)

Local Enterprise Partnerships - Growth Hubs

Gov.uk Starting a Business Guidance

Business Support (HM Government) - Starting a business

Business Networking Groups (@17:45)

Cornish Partnerships (Eventbrite)

Cornwall Business Forum (Website)

The Six O'Clock Club (Eventbrite)

Episode script

Like a Dog with a Bone Like a Dog with a Bone

CONTINUITY: We’re back in the Dog and Bone pub.  Zelda comes to the table where Jakob is sitting and passes him his Whiskey and Ginger. 

JAKOB: Thanks Zelda – I bet your head is spinning with ideas

ZELDA: Yeah it is… Well kinda… Well I’m flummoxed really.  I don’t know where to start

JAKOB: Have you done any research into starting a business?

ZELDA: I read “Start with Why” by Simon Sinek

JAKOB: And learnt…?

ZELDA: That I don’t like reading much

JAKOB: And…?

ZELDA: That I need to understand why I want to run my business… and that is to become rich and respected

JAKOB: Ok! I’m not quite sure thats what Mr Sinek envisioned. Any other insights like what steps to take next

ZELDA: I need to work out the What and How or the How and What… One or the other.  Have you any advice?

JAKOB: Well, I’ve helped many companies by mentoring their founders through… (Interrupted)

ZELDA: I need money… Lot’s of money to buy offices, manufacturing space, stock, hire people, you know

JAKOB: (bit stunned) So you know what your business does now then?

ZELDA: Nope, not a clue.  Didn’t a famous man say “Build it and they will come”

JAKOB: Well Kevin Costner said it in the film Field of Dreams – Jim Morrison may also have said something like it in Waynes World 2?

ZELDA: No, no, no a famous person said it…

JAKOB: umm, God said it to Noah about the animals coming to the ark?

ZELDA: That’s the one… God knows what he’s talking about, right.

JAKOB: If you believe that kind of thing… But do you think that’s a good strategic approach?

ZELDA: Strategy! STRATEGY! You sound like my dad. You’re

Diving into launching the business, by starting in partial competition with her father, Zelda considers some brave steps. However, striking up a business relationship with Jakob means having to make some sacrifices.

Mike and Russell, from Gydeline discuss how to prepare for starting a business and what skills are needed to do it well. The tools and support required are covered along with some ideas on naming an organisation.

Timings

0:27 - Scene 2.1 Like a Dog with a Bone

5:54 - Discussion

6:02 - Naming a company

7:42 - Structuring an organisation

11:43 - Business Banking

12:20 - Social Media

14:30 - Business Advice Books

17:17 - Other advisory services

17:45 - Business Networking Groups

Useful Information

Resources on company naming and structure (@6:02)

Search the UK Companies House Register

Business Name Builder (Spotify)

Multiple keyword domain checker (NameMesh)

Domain Search (InstantDomainSearch)

Coming up with a company Name (VistaPrint Blog)

The Psychology of Colour in Branding article (HelpScout)

Foreign Word Safety *Not Secure*

Trademark Register Search

Choosing the Right Business Structure article (CompaniesHouse)

Small Business Money Saving Article (MoneySavingExpert)

Social Media Courses (@12:20)

The Six o'clock Club Events (Eventbrite)

Recommended Books and magazines (@14:30)

Start with Why by Simon Sinek

The 7 Habits of Highly Effective People by Stephen R Covey

The 8th Habit: From Effectiveness to Greatness by Stephen R Covey

Who Moved My Cheese: An amazing Way to Deal with Change in Your Work and in Your Life by Dr Spencer Johnson

The Intelligent Investor: The Definitive Book on Value Investing – A Book of Practical Counsel by Benjamin Graham

The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas Stanley & William Danko

Zero to One: Notes on Start-Ups, or How to Build the Future by Peter Thiel

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T Kiyosaki

Six Thinking Hats by Edward De Bono

The E Myth: Why Most Small Businesses Don’t Work and What to Do About It – Michael Gerber

The Art of Thinking Clearly: Better Thinking, Better Decisions by Rolf Dobelli

The Richest Man in Babylon by George S Clason

WIRED magazine

Other places for Advice & Guidance (@17:17)

Local Enterprise Partnerships - Growth Hubs

Gov.uk Starting a Business Guidance

Business Support (HM Government) - Starting a business

Business Networking Groups (@17:45)

Cornish Partnerships (Eventbrite)

Cornwall Business Forum (Website)

The Six O'Clock Club (Eventbrite)

Episode script

Like a Dog with a Bone Like a Dog with a Bone

CONTINUITY: We’re back in the Dog and Bone pub.  Zelda comes to the table where Jakob is sitting and passes him his Whiskey and Ginger. 

JAKOB: Thanks Zelda – I bet your head is spinning with ideas

ZELDA: Yeah it is… Well kinda… Well I’m flummoxed really.  I don’t know where to start

JAKOB: Have you done any research into starting a business?

ZELDA: I read “Start with Why” by Simon Sinek

JAKOB: And learnt…?

ZELDA: That I don’t like reading much

JAKOB: And…?

ZELDA: That I need to understand why I want to run my business… and that is to become rich and respected

JAKOB: Ok! I’m not quite sure thats what Mr Sinek envisioned. Any other insights like what steps to take next

ZELDA: I need to work out the What and How or the How and What… One or the other.  Have you any advice?

JAKOB: Well, I’ve helped many companies by mentoring their founders through… (Interrupted)

ZELDA: I need money… Lot’s of money to buy offices, manufacturing space, stock, hire people, you know

JAKOB: (bit stunned) So you know what your business does now then?

ZELDA: Nope, not a clue.  Didn’t a famous man say “Build it and they will come”

JAKOB: Well Kevin Costner said it in the film Field of Dreams – Jim Morrison may also have said something like it in Waynes World 2?

ZELDA: No, no, no a famous person said it…

JAKOB: umm, God said it to Noah about the animals coming to the ark?

ZELDA: That’s the one… God knows what he’s talking about, right.

JAKOB: If you believe that kind of thing… But do you think that’s a good strategic approach?

ZELDA: Strategy! STRATEGY! You sound like my dad. You’re not like my da

Diving into launching the business, by starting in partial competition with her father, Zelda considers some brave steps.

However, striking up a business relationship with Jakob means having to make some sacrifices.

Mike and Russell, from Gydeline discuss how to prepare for starting a business and what skills are needed to do it well. The tools and support required are covered along with some ideas on naming an organisation.

Diving into launching the business, by starting in partial competition with her father, Zelda considers some brave steps.

However, striking up a business relationship with Jakob means having to make some sacrifices.

Mike and Russell, from Gydeline discuss how to prepare for starting a business and what skills are needed to do it well. The tools and support required are covered along with some ideas on naming an organisation.

What’s the worst way to start a business? A challenge, a bet, out of irritation? Zelda gets cheesed off with the way her dad runs Zeros Heros and receives bad advice from Bob and some unexpected help from Jakob.

Mike Saville and Russell Cosway from Gydeline introduce the first episode of the Blue Sky Stinking podcast and discuss topics raised, including, worst way to start a business, good reasons for starting a business, getting sound advice and benefiting from mentoring and coaching.