The third and final conference took place in the Helix on the 12th of February 2019. This conference was by far my favourite of the three as being a Business studies student, I myself hope to one day create my own business or be involved with a start-up. I found it helpful to see an insight into what it takes to create a successful business and what steps are needed in order to get your business off the ground. This conference was organised terrifically with a wide variety of speakers.
The Speakers were as followed:
- David Pollard (Rehab Group)
- Lewize McCauley (Exit Entry)
- Lousie Murphy (Cyc-Lok)
- Maura McAdam (DCU)
- Shealagh Brady
- Martin McVicar (Combilift)
- Ross Keogh (Keogh’s)
- Dr Eric Clinton (DCU)
- Rosy Temple (Magee 1886)
- Orla Stafford (Jackford’s Irish Potato Gin)
- David Maloney (Intel)
- Barry O’Callaghan (Rise Global)
The line-up of speakers was diverse with each one having different backgrounds and experience in all areas. As an aspiring entrepreneur I felt as though I walked away from the conference with valuable skills and knowledge I will use in my career. The main focus of this conference revolved around 3 main topics 1. Early stage start-ups, 2. Upscaling and 3. Family business.
Lewize McCauley Crothers (CEO and founder of Exit Entry)
Early stage start-ups
Lewize was the first speaker to really intrigue me. Grabbing the audience’s attention with a screen full of numbers she explained her journey and how she ended up where she is today. Lewize is clearly a very driven person with a keen interest in business. Not only does she share part of her name with Rosa Parks but, in my opinion, she is a true representation of what it takes to be a successful entrepreneur. Having started her first business selling jeans in Russia at fifteen to working with well-known fashion designers, such as Jasper Conran and opening her own cat boarding kennels it is safe to say Lewize has had quite a journey regarding her career.
The biggest take home from Lewize’s discussion was that it’s good to fail and try again and that the reality is that this generation of graduates will face numerous job changes throughout their life. Forbes states that “the average worker will now have on average 15-20 jobs in their lifetimes”(Meister, n.d.) compared to previous generations who tend to stay in the one job. Lewize is an accurate representation of this statistic having spent her life chopping and changing down different paths. With the ever changing business environment it is important that future entrepreneurs and graduates work towards building up a skills base that applies across a number of different fields. The future is about adaptability and change.
Having sat through the previous conferences, there has been a significant emphasis placed on lifelong learning. With each new venture Lewize has undertaken she has grown and striven to make her next business more successful. Her new Company Exit Entry, which connects students and their skills to organisations seeking employees is already a hit. Having received half a million in funding from Enterprise Ireland there is no doubt this idea has huge potential to grow into a multi-million website.
One thing in particular that stood out to me about Lewize was her willingness to take risks, a characteristic all successful entrepreneurs should possess. “Taking risks and business growth go hand in hand”(“Why Entrepreneurs Must Take Risks,” 2016) according to the Australian Institute of Business. “In the competitive business environment, that exists today, those who are willing to risk position themselves as leaders, while others get left behind”(“Why Entrepreneurs Must Take Risks,” 2016). Having this characteristic is what distinguishes you from others. When I graduate, I have to remember that in order to become a leader rather than a follower, I must be willing to take risks and fail.
Lewize was a fascinating speaker who proved that regardless of what career background you come from, if you have passion and an idea you can be successful.
Louise Murphy (Sales director and founder of Cyc-Lok)
Upscaling
Apart from sharing the same name as Lewize, both women shared similar characteristics. Louise is also a risk taker, having left her job in pharmaceuticals after seventeen years to pursue a joint business venture with her husband. Cyc-Lok is the future of bicycle security using smart solutions to solve a problem faced in every country globally, that being bicycle theft. With 66% of bikes being stolen in Dublin and the number of people cycling to work in decline because of this, Louise and her husband came up with an idea and found a niche in the market.
Niche marketing can be described as “a marketing tactic deployed to target a specific market segment which is unique”(“Niche Marketing – What is Niche Marketing ?,” n.d.). By finding a niche, businesses can gain success in a market quickly. With so many similar products on the market these days companies must seek a unique selling point when creating their ideas. Failure to do so can result in a fruitless company and an unfavourable profit percentage. Us business graduates must think outside the box and come up with fresh concepts to flourish in this environment.
Both Louise and her husband have achieved great results with a 43% increase in the number of employees cycling to work in companies where their product had been installed. Recently there has been a surge in promoting sustainability and big corporations are becoming more aware of being socially responsible.With “businesses under the spotlight like never before” (“From reaction to purpose: the evolution of business action on sustainability | Innovative sustainability | The Guardian,” n.d.) regarding environmental goals and guidelines, Cyc-Lok took this as their opportunity to grow their start up and profit from the current environment.
With the launch of “sustainable development goals” (“From reaction to purpose: the evolution of business action on sustainability | Innovative sustainability | The Guardian,” n.d.) by the UN in 2015 Louise launched her company that same year. I learned from Louise in order to succeed in such a tough business environment one must recognise market trends forming and create a business plan with them in mind. By supporting businesses like Cyc-Lok, large companies are creating a more sustainable environment, encouraging their employees to live healthier lifestyles and have a better image in the public eye.
Although Cyc-Lok was founded only four years ago, their business is making huge waves with larger corporations after being picked up by Apple and trialed in their offices in Cork. They are now expanding in conjunction with Apple to bring their bike locking devices across the ocean to Apples offices in California. This is a huge achievement for an organically grown business. Cyc-Lok expanding proves how we no longer can think about our only market being Ireland, we must think global and about upscaling if we want our start up to be successful. Louise highlighted some of the points which had been discussed in the previous conference “Get Digital” about how in order to compete with other companies they must think and plan as to not rely on Ireland being their sole marketplace.
Louise’s talk was very factual and informative. She kept the audiences attention throughout and provided a new understanding about the future of security and how technology will enhance it.
Ross Keogh (Keogh’s Potatoes)
Family Businesses
Coming to the end of the conference Ross Keogh from Keogh’s Potatoes in Rush came on stage. Ross was by far my favourite speaker of the whole conference as I found him engaging and relatable. It was evident from Ross speaking that Keogh’s was a family grown business in the heart of the community. Ross explained how he, his brother and cousin were now in charge of the day to day running of the business. Although they were next in line to take over, they had to prove themselves to their fathers with new ideas and plans set in place to where they would take the business in the coming years.
Ross highlighted how for a business to remain successful they must be innovative and keep up to date with the market. “Innovation is vital in the workplace because it gives companies an edge in penetrating markets faster and provides a better connection to developing markets, which can lead to bigger opportunities”(“Why Innovation Is Crucial To Your Organization’s Long-Term Success,” n.d.). After Keogh’s sales falling during the recession due to people travelling and branching out to more exotic foods than traditional, they knew they had to reinvent the brand to remain competitive and profitable.
They decided to branch out beyond just potatoes to items such as crisps and popcorn. A key factor to their success now was their ability to recognise that their current business model was not working. Like all businesses in this day and age they had to quickly adapt to the needs and wants of consumers. This message was echoed by all speakers on the day of the conference and is something all students in the audience should remember when facing the job market after graduating from DCU. If you fail to adapt and reinvent your brand you will not achieve your potential or desired results.
The Keogh’s business has remained extremely competitive and continues to go from strength to strength having attained huge contracts with some for the leading airlines worldwide such as Emirates. Ross Keogh was an excellent speaker who came across as extremely humble. He showcased how an Irish run business could hold such a large part of the market share and how if you work hard enough your dreams can become a reality.
Conclusion
Leaving the final conference, I had a new found understanding of what it takes to create and run my own business. One thing that stood out to me across the whole conference was that each individual who stood on the stage were passionate about their ventures and weren’t afraid to make mistakes and fail. Some tools for success to note for the future is the ability to recognising niche markets is important, finding innovative ways to reinvent your brand is vital and sometimes you have to be willing to take risks int he world of business. I hope one day when I graduate from DCU I will be even a fraction as successful as any one of the speakers who stood before me across all three conferences.
References
blackpixels. (n.d.). Let’s Get Started. Retrieved February 26, 2019, from http://www.memegen.com/meme/pwvcbb
Brandpoint’s refreshed brand for Keogh’s Crisps goes back to its Irish roots. (2017, October 23). Retrieved February 26, 2019, from https://www.creativeboom.com/inspiration/brandpoints-refreshed-brand-for-keoghs-crisps-goes-back-to-its-irish-roots/
Cyc-Lok – Access Controlled Modular Bike Parking Lockers. (n.d.). Retrieved February 26, 2019, from https://www.cyc-lok.ie/
DCU Home | DCU. (n.d.). Retrieved January 3, 2019, from https://www.dcu.ie/
From reaction to purpose: the evolution of business action on sustainability | Innovative sustainability | The Guardian. (n.d.). Retrieved February 26, 2019, from https://www.theguardian.com/innovative-sustainability/2017/oct/31/charting-the-course-of-sustainability-in-business-from-the-1960s-to-today
Keogh’s | Crisps | Potatoes | Snacks | Grown In Ireland. (n.d.). Retrieved February 26, 2019, from https://www.keoghs.ie/
Meister, J. (n.d.). The Future Of Work: Job Hopping Is the “New Normal” for Millennials. Retrieved February 26, 2019, from https://www.forbes.com/sites/jeannemeister/2012/08/14/the-future-of-work-job-hopping-is-the-new-normal-for-millennials/
Niche Marketing – What is Niche Marketing ? Niche Marketing meaning, Niche Marketing definition. (n.d.). Retrieved February 26, 2019, from https://economictimes.indiatimes.com/definition/niche-marketing
Why Entrepreneurs Must Take Risks. (2016, January 28). Retrieved February 26, 2019, from http://www.aib.edu.au/blog/entrepreneurship/5-reasons-entrepreneurs-take-risks/
Why Innovation Is Crucial To Your Organization’s Long-Term Success. (n.d.). Retrieved February 26, 2019, from https://www.forbes.com/sites/forbescoachescouncil/2017/05/08/why-innovation-is-crucial-to-your-organizations-long-term-success/#7a5730a13098
Dara's Dice Diary 