Break-even is the new strategy for success in business, according to business mogul and RTE Dragon, Sean Gallagher, of Smarthomes.ie Speaking on Newstalk radio this week, Mr Gallagher advised people in business not to waste time worrying about what has not happened, and instead to concentrate on dealing with what they have and the resources available to them.
“People are worrying so much about what might happen but my advice is don’t worry about what hasn’t happened, just deal with what you have. The challenges we face and obstacles we overcome are what define who we are.”
Commenting on how his own businesses are performing, Mr Gallagher revealed that like many others he too is struggling but he is happy to at least to be breaking even.
“Break even is the new being in profit,” he said.
Welcoming the move away from property wheeling and dealing that characterised the Celtic Tiger years, he added: “We weren’t manufacturing anything during those years - we were just selling houses to each other and that doesn’t make money. But now we’re back to basics and I welcome that.”
Mr Gallagher, who said his focus now is on helping entrepreneurs get back to work, reserved special praise for those brave enough to invest in start-up businesses. “It takes three-to-five years for a business to take off. Those starting off in business now deserve great credit.”
