Started with some words on current situation and recent comments from Mary McAleese which showed rare leadership (rare from anyone in the political space). She said continue to grow, continue to scale and keep aiming to expand outside of Ireland.
From Colm, focus on the recovery. Have absolute belief that you will suceed. Realex have made fundamental changes in last 2 years to move into being an international business.
He then spoke about successful Irish Internet businesses who sell some of or a majority of their services overseas. Directski.com, avvio.com, cartrawlor.com, chainreactioncycles.com (who employ 270 people and who doubled t/o in the last 6 months'ish). Ezetop.com who do not operate in Ireland at all (phone topups for expat communities in other countries).
Realex continue to increase their monthly turnover and have record months.
He gave example of a new service they have just launched for Virgin Atlantic on Tuesday - a global opportunity for them.
Spoke about the Leadership For Growth program with EI, wasn't sure about it going in (he failed his Leaving and did not have faith on Academic learning).
Some of their internal building
Strategy Statement:
Goal, Scope, Competitive Diff, Logic
Values:
Behaviours (their 60 staff took part in the development of their values over a 2 day workshop). Why is this important - because the values dictate how the people behave, their approach, how they do their job. Colm reckons this is a key differentiator in a technical service space.
Some of their values: security, innovation, careers not jobs
He spoke about having people in place who are relevant for where you want to be in 2 years time. Hence Russion Lunches.
He finished off with Internet Growth Alliance where a number of entrepreneurs wanted to build something to support Irish Internet businesses who want to scale. www.alliance.ie
He thanked his colleagues and friends on Realex.
Great talk, grounded and inspiring.
Q. How to enter new countries
A. They serve a common business Market regardless of location. And service it with local presences.
Q on issue of getting merchant ID's
A Colm spoke about risk of CC's and the issues that causes. In other countries they have started to work with credit transfers used to pay and initiated by the account holder - push not pull. He hinted that such a product will happen in Ireland (this year?)
Q what in Ireland exists to support an early stage Internet business
A Colm said it is fragmented and there is a need to challenge businesses earlier in the growth cycle.
Keith
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