THE ENTREPRENEUR
out there from large IT companies and from ‘mom and pop shops’,” Beggs points out. “We are still small in the UK – Boots’ IT depart- ment is larger than we are.” Organic growth has still got huge potential, not only in Ireland but also in the UK where Helix is a niche player supplying 30 centres of excellence for chemotherapy and cancer care. “We are also becoming involved in online mail order pharmacies which are growing in pop- ularity for repeat medication and sensitive treatments. Those pre- scriptions are the ones that you don’t want to be waiting for in a pharmacy by the corn plasters.” Beggs believes that mail order pharmacies will, over time, estab- lish a foothold in the Republic of Ireland. “It could take five years to become popular here because there are a number of legislation issues,” he says. Helix employs almost 100 people and he is quite open-minded about educational qualifications when recruiting staff. “We don’t have a policy of hiring graduates although we have some nurses. Most of our employees come to us with Leaving Certificate and we help them with further education after they join us.” At least one member of senior management besides Beggs has completed an MBA at UCD.
Education junkie “I have become an education junkie myself and have just completed a diploma in intellectual property,” he admits. “I suppose a PhD is next. I used to think education was just a box that you ticked. Now I believe that education – like travel – really broadens the mind and alerts you to possibilities.” Asked whether his sales and marketing experience was an impor- tant factor in his success, Beggs maintains that he is a salesman and marketer at heart rather than, say, an accountant. “I suppose every entrepreneur is capable of being a salesman. Negotiating skills are also critical.’’
Access to capital and a decent balance sheet are key to success for a business, he argues. Like Michael Smurfit, he agrees that equity is blood but he stresses that proper shareholders’ agreements are vital when taking on new partners. “We have never looked just at the price when dealing with venture
capital,” he says. “In fact we have gone with the least advantageous deal in order to bring in people to our team who understood the industry and could identify possible acquisitions.” Beggs also advises budding entrepreneurs that the best way to
achieve success is by being focused. “We have never been tempted to move outside of healthcare software,” he says. And finally, what is his advice for those young entrepreneurs?
“Don’t underestimate the importance of continuing education,” Beggs replies. “It’s not just ticking boxes on your CV. It provides the adrenalin to succeed in business.”
UCD BUSINESS CONNECTIONS 25
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