Monday, May 20, 2013
Live Q and A with CIT's Kieran Moynihan
Vincent Ryan chairs a conversation with entrepreneur in residence at CIT, Kieran Moynihan
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LIve Q+A with entrepreneur Kieran Moynihan is about to start live.irishexaminer.com #IEstartup -
hi i`m lookin to start my own business and would like any info on getting grants, i would like to know how many places could i apply to and where thanks -
If you have what you think is a great idea and have had a focus group who agree but don't have any funds for investment, what are the best first steps to take -
The following guide was published recently and has proved very successful in guiding start-ups on the state supports available www.enterprise.gov.ie -
Which is more importance for success as entrepreneur, attitude or knowledge? Both? What aspects of each can lead to success?
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Given the CSO figures yesterday that show the domestic economy hasn't grown in the last quarter, do you think enough is being done to encourage people to start their own businesses?
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a question i often get asked is "is there investment out there ?" - yes there is, there is also interest in strong new start-up businesses - you need to get yourself into the position to go engage with the potential investors to attract this investment - key pre reqs are strong business plan, team, some early validation from customers, partners etc.
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A related question is when are the banks going to lend to small and start-up businesses ?
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there are lot's of good initiatives available to people who want to start, but it needs to be very clear what suits which type of business start-up.
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Kieran: Any tips on how to best promote a start-up to its tsrget market on a 'slimline' budget ?
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I think that talking to other local entrepreneurs is key for anyone starting up, find out what local initiatives ahve worked for them. -
Looking to the Incubation Centre's is a good place to find these Entrepreneurs, they all want to help
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hi, i have great idea for business new. how i start up it, do i need irish citzenship or do i need to start?
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When it comes down to it is the business plan thing single most important aspect of any start-up?
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i have seen recent evidence of banks supporting start-up companies but only in those cases where the start-up company is extremely well-organised in terms of a business plan, their team, support from state agencies, strong mentor etc.
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Hi Kieran, wopuld you recommend going on shows like the apprentice or dragons den if you had a great business idea like i do?
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Is there any one skill you would recommend gaining knowledge in prior to starting a business, eg: accounting, etc...
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What do you see as the advantages & disadvantages to doing business in Ireland? We work with a lot of people thinking about starting up here vs other European countries (mainly UK). -
Kieran, I have a part time business that I operate evenings and weekends. I still work full time and to be honest not sure if it will ever be a full time earner. What do you recommend in terms of banking/managing finances - should I set up a business account?
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Kieran: Assuming a business plan in place, a high potential idea 9independently verified) and focused team (albeit small) with some customer interaction or customers on board - how can we approach (even get a list to approach) potential investors, state and otherwise. What are the steps, bets approach etc. Thanks.
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one key area of start-ups is the founders learning fast how to sell properly - sales is the lifeblood of any business and particularly so for start-ups - for various cultural reasons, we haven't had a great attitude to sales and this needs to change to help drive a far larger wave of startups
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Kieran: I think there is a great opportunity for you and your skillset (knowledge, contacts & straight talking) to put a TV/Radio series together. Better than Dragons Den and more useful.
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My definition of sales is "placing value in the hands of a customer at a price they are happy to pay, but at which you ultimately will be profitable" - I was an engineer and learned this the hard way !
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Kieran If we were to sum up your advice in five quick steps, what would they be?
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Would it be expensive to talk to someone to do the business plan properly. My idea is great in principle but not sure how to do a business plan that would be effective
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I am genuinely encouraged by the level of start-up activity out there at present, we need to grow this further but despite the current recession, i still passionately believe we have the talent and work-ethic as a country to dig ourselves out and this needs to happen locally from the smallest 2-person micro business to a high-potential start up selling internationally
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I'd like to thank everybody for their participation in this blog, in particular Kieran Moynihan.
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Today's Irish Examiner guide on business start-ups is online at www.irishexaminer.com