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Start-up Ireland 2009

by josephkelly on October 21st, 2009
3 Comments



Starting a business in Ireland in the current environment could be described as many things. On one hand it could be called brave, risky, crazy or even stupid, or on the other hand it could be called inspiring, innovative, capitalising and just plain entrepreneurial. So what can be done to ensure that projects are associated with the latter labels rather than the former?

If you possess creative business acumen then at this point in time it may be possible to identify more opportunities than barriers for start-up creation. So if that light-bulb moment does occur while brushing your teeth tonight then what may be a correct course of action to take if that idea remains bright tomorrow morning?

While eating breakfast a couple of key questions should be answered

1. Does the project have serious potential, name a competitor, how did they achieve success?

2. What skills do I, or my team possess to develop this project to beat them?

3. What resources can I use to maximise this projects potential? – Universities, industry professionals, support agencies.

4. Can I and my team realistically do this?

5. Who can I work with to achieve this?

6. When can I sell this and who will buy it?

If breakfast is finished and the answers to the above leave you positively convinced, then the hard work begins. Take a step back, put on the coffee, start working now and decide who you need to meet tomorrow.
So what’s the backdrop to all this. Although certain barriers now exist, these greater challenges should be relished as an opportunity to pounce on. We know that internal growth is going to be significantly limited over the coming years, so when designing new products and services we have to think from an international trading perspective. Now that we’ve figured out that we can’t export property, it’s time to identify real international scenarios that require Irish developed solutions. Focus on the smallest detail, but think about solving external real world problems. We’ve got a lot of work to do to make up for errors made recently so let’s get started.

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Category: Start-ups

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The Author:

CEO at Loopthing.com. Joseph is a young Irish entrepreneur focused on advanced media provision and analysis through the Loopthing social business network. His business views and opinions are wide ranging, and he is always willing to investigate and discover any current business themes of importance. http://www.loopthing.com/

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  • http://www.channelship.ie/blog/ facundo

    Good post Una. Looking forward to the series

  • Anonymous

    This is a great post. I must say a lot of the questions asked in it, have made me do some serious thinking over the last couple of months. Recently I left a large multinational to work on my business full time, and it is a decision I have not regretted. To anybody thinking of doing the same do your research first and then based on that test the water. At the end fo the day your gut instinct will give you a feeling of where to go next. Sometimes it is hard to make that jump, but once you do you will become more focused and clear on what you want to acheive and how you are going to do it. Since I made the leap new doors have opened up, I have made new friendships, and most importantly the direction my business wants to go in is now taking some shape.

  • Anonymous

    For some, it seems to be a kill-joy to answer the questions you posed. No matter, they are crucial to writing a good basic business plan, following through on your goals, and staying focused on why you believe so much in your Big Idea.

    Another plus to answering the questions you listed is it gets everything out of your head. We can get quite muddled and it make it more real when you can see your answers on paper.

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