What
sets your business apart?
We have developed a highly configurable business management product which can be tailored to suit the day-to-day processes for any small- or medium-sized business. The product is unique in that it allows consultants the ability to deliver functionality which would not be possible without the aid of a .NET developer, customisation without code. On top of this we offer a one-stop shop for small- to medium-sized companies, a flexible business solution, implementing of that solution, daily support services and, finally, hardware needs such as network configuration, to servers, to printers – a one-stop shop. It's like an SME having its own IT department. We sell the software, charge consultancy daily rates to implement it, and an annual fee to support it.
What was the best piece of business advice you've ever received?
The best piece of advice I have ever received is, if you are going to do a job, do it right first time and give it your total focus. Stick to this and you will have happy customers, which means you get paid and you have a business.
What's the biggest mistake you've made in business?
Not believing in my own ability and putting too much trust in people from outside the business, and expecting them to deliver. I would have looked for outside help in how to grow the business, but these people never have the same commitment. Their heart is not in it. Sometimes you have to believe in your own ability and go with your gut instinct; usually it is not far off the mark.
And your major success to date?
Growing the business from absolutely nothing and continuing that growth over the last four years when things got really sticky. Every day, I would estimate that over 20,000 people depend on our products to run their businesses and this is across multiple geographies. We want to continue growing and we are expecting major growth over the next three years, not only in Ireland but also in Britain, Canada, the United States, Australia and South Africa.
Who do you most admire in business and why?
I admire many people in business, from locals like Martin Naughton at Glen Dimplex and John Teeling, formerly of Cooley Distillery, to international people like Bill Gates of Microsoft and Anne Mulcahy of Xerox. All of these people had a focus to grow their companies and have succeeded.
Based on your experience in the downturn, are the banks in Ireland open for business to SMEs?
Fortunately, we are not dependent on bank funding and, to be honest, I would hate to be in a business that is depending on the banks. I think they are portraying a message that they are open for business, but the rules are now so stringent that it is nearly impossible to get funding. To answer your question truthfully, no I don't think they are open for business.
What one piece of advice would you give to the Government to help stimulate the economy?
I think the Government missed an opportunity when the banking sector came crashing down. Instead of pumping billions of euro into the banks, I think there was a need for the Government to look at the banking sector and enter the market, similar to the ICC and ACC banks of the 1970s and 1980s. There is a huge need in the banking sector to have an institution totally focused on small- to medium-sized companies, which can be totally separated from the normal high street banks. It was a model that was very successful in the past and one I think is needed to assist businesses in Ireland to get back on their feet, start employing people and get some confidence back in to the Irish economy.
What's been the biggest challenge you have had to face?
It is always difficult to get your message across to potential customers when you have limited funding.
It is somewhat ironic that an Australian-based company can get your message, like it that much that they travel to Dundalk and do a deal to sell your product across Australia and New Zealand. Yet I could meet someone from Ireland, explain to them what we do and they say: "I didn't know you existed".
How do you see the short-term future for your business?
We want to grow both domestically and internationally as we have a world-class product and have already proven that we can partner with people in different geographies. To achieve this, we have to strengthen our brand to attract both channel partners and end-user companies.
Up until three or four years ago, our business model had stayed the same, but then newer forms of technology such as cloud computing came along. So far, we haven’t seen a major demand from end-user customers to adopt cloud computing but it is taking hold, and we will have to amend our model over the next three years to provide it.
What's your business worth and would you sell it?
Value of course depends on who, if anybody, would be interested in buying our business. It is difficult for anybody to say they would never sell as it all depends on the deal, and if you are happy and content in your mind that the future is clear.
One lesson I have recently learned is that health is the most valuable commodity a person can possess; everything else is exchangeable.
We’ll see what the future brings and we’ll keep trying to grow until someone comes in and tells us otherwise.
In conversation with Fiona Reddan
