If you’re at home with the kids this half-term are you finding ways to keep them entertained without spending a fortune? Chances are you might turn to a social network or website* to find ideas of what’s on your doorstep and won’t cost you the earth. The UK’s largest online parenting community is Mumsnet and even if you’re not a parent, you’re more than likely to have heard of it, as the views of its’ members often make the headlines, not least when politicians like the Prime Minister, take part in online chats with members.
So why is Justine Roberts our fifth financial hero? Starting out in 2000 when the dotcom bubble had burst, it was difficult for the site to find advertisers. For nearly a decade Mumsnet was ran as a back-room business with both Justine and Carrie Longton spending long hours updating the content with very little pay.
Now with millions of members (the mums tend to stay members even when their children have moved on from early childhood) instead of selling space to the biggest brands, the company has grown gradually but remained true to its values with staff owning and running the business with no outside investors. Any profit from advertising, sponsorship, events and publishing remains within the hands of the workforce, who decide what it is to be spent on. Indeed members and staff decide on the advertising.
This uncompromising approach to ensure the business has remained true to its members and staff, is why we’re naming Justine Roberts as our fifth financial hero. The sound planning and investment in the future of the business chimes to us at QuidCycle an inspirational approach to financial success and longevity.
*Capital at risk with peer to peer lending. Please see our Understanding the Risks page.
Disclaimer: The above information does not replace financial advice. Please ensure you seek independent financial advice before making any decisions regarding your finances. We also recommend that you carry out your own research to ensure that this is right for your own unique circumstances. Please note that we sometimes link to other websites but we cannot be held responsible for their content.
Image by Aechan by FreeDigitalPhotos.net.