James Gale won IBYE’s Best Start-Up Business from the Local Enterprise Office Cork North and West and received €15,000 investment in his company, Stampowl. He also walked away with the title of ‘Best Young Entrepreneur’ for the Cork North and West region. We chatted to James ahead of the IBYE Regional Final about his experience…
Why did you enter IBYE?
IBYE seemed like a fantastic opportunity to network with other young aspiring entrepreneurs. It seemed like a great opportunity to build a relationship with my Local Enterprise Office. When starting an entrepreneurial journey it is important to take all the help you can get, whether it be the fantastic mentorship and support offered by the LEO’s or the encouragement and feedback offered by fellow participants. Ireland’s Best Young Entrepreneur Competition is more than just a competition, it is an opportunity for young entrepreneurs to broaden their horizons and develop businesses that will go on to improve the lives of many people.
What is the biggest thing you’ve learned from your IBYE experience?
Throughout the IBYE competition I have learnt that failure is a necessary step along the road to success. Failure is in fact pivoting. If something doesn’t work learn from it and take a different approach. If you pivot enough sooner or later you will succeed. Talk to your customers, find out what aspects of your product they like and what aspects they don’t like. Incorporate this feedback into the heart of your business. “Fail forward, Fail Fast”.
How do you plan to use the investment you won?
This investment will help accelerate our growth. We plan to invest a considerable amount into marketing to help us grow our user base at a controlled rate. We will also invest directly into innovating our system. We plan to outsource a couple of aspects of development so we can concentrate our resources on acquiring new customers and building the business.
Any advice to other young entrepreneurs?
You are the captain of your own life. I left secondary school with the goal to start a business but I really had no idea how to go about doing it. Find a problem that really annoys you and develop a solution to combat it. If you want something in life, go get it! You are only limited by your imagination. We have fantastic resources in Ireland for aspiring entrepreneurs, accept the help that is offered! Take every opportunity that comes your way and never give up on your dreams!