3 Things I Learned in my First Year as a Start Up

moneysherpa turns one today, which set me thinking.

What did I learn in our first 12 months?

LMC 9709
Mapping out our first year

It’s been a very big year for us, we have over over €30 Million of mortgages in our pipeline, we’ve started to make headway into other finance products and we have big B2B partners now secured.

To be frank, I’m surprised at how far we have come in such a small space of time.

That’s just the tip of the iceberg though, looking back I feel I’ve been learned more in the last 12 months than in the previous 20 years of my career. Here’s my key takeaways from a whirlwind year.

1) Ask and People Will Take A Chance on You

The level of trust and support we have had from Investors, Suppliers and Employees has been overwhelming and without it we simply wouldn’t have been able to get moneysherpa off the ground.

  • Investors – Based on nothing more than a good story, we got substantial backing from key angel investors and the Local Enterprise Office to put the fundamentals to make the business a success in place.
  • Suppliers – A number of key suppliers agreed to discount their rates or even work for free for us based on relationships and the promise of future business.
  • Employees – Most of all we found some rock star employees who were prepared to give up their corporate pay check to play a key role in building something bigger.

2) It Sure Is Scary Being Out On Your Own

Yes there is no one to interfere with your decisions.

But, that means there is absolutely no one else to blame when those decisions backfire.

Plus the stakes are super high. These are your customers, your employees, your investors and almost certainly your life’s savings all bound up in the success or failure of the company.

This all makes you all too aware of how fragile running a start up actually is.

You are always vulnerable to changes in the market, changes in regulation or your own miscalculation.

Performing the high wire act of balancing the investments you need to make to fuel future growth against your current cashflow is probably the scariest thing of all.

3) Start Up Time is ‘Lumpy’

Unlike corporate time, where your work rhythm is marked out by quarterly results, management reports and the regular patterns of corporate life, start up time operates in fits and starts.

There are incredibly intense bursts of activity when you are building the next technology drop, launching a new product or expanding the team.

But, when you deliver on that activity your business looks so different than it was before, you have no choice but to take the time to get to know it all over again.

Moving onto the next thing before you do this will almost certainly mean you make a wrong move. This means there are times when there is literally nothing to do, but wait and think.

I’ve learned to enjoy it and resist the urge to do something for the sake of it.

In my view thinking is generally underrated.

What’s Next?

The last year has been nothing like any other part of my career.

I realised I can only really compare founding a start up with my experience of being a parent.

  • Not having a clue what you are doing
  • Never sure you are making the right decisions
  • Constantly worrying what happens next

Mostly though, being incredibly proud that you are playing a part of shepherding something new and exciting into life!

You can read more about moneysherpa here.

Leave a comment

Get your FREE mortgage switching guide

Save big with our 26 page downloadable switching guide & tips straight to your inbox

Daire McConnon - mortgage sherpa lead

Need help with your mortgage?

No hassle, in a 15 minute call our mortgage sherpa team will guide you on the journey. 

They will help you borrow, find you the best deal and make the paperwork painless.

Best of all, they are free as they are paid for by the lenders.

Why Us?

Save €25,000 On Average

Start Saving in 6 Weeks

100% Free

100% On Line

Suzanne Powell
Suzanne Powell
14/03/2023
Lovely to deal with. Sound, honest, unbiased advice with no pressure. They'll tell you what is genuinely best for you. Would highly recommend.
Lee Palmer
Lee Palmer
09/03/2023
Great service. Highly recommended. Couldn't speak more highly of Gavin and team for making the whole experience as seamless as possible. Thanks all who were involved.
Eve Quigley
Eve Quigley
26/02/2023
Cost of living challenges, seeing prices increase daily on everything from utilities, basic essentials and services made me re-evaluate my outgoings and where savings could be had. That included my mortgage, every article I read recommended reaching out to a mortgage expert. I have no regrets in contacting Moneysherpa, I contacted three experts and only they responded. Having delved into the world of mortgages, done my own research I knew my best option would be to stay with my present provider and fix my rate, they concurred and by doing so ultimately wouldn't have made a financial gain on my ask but were still willing to share their invaluable expertise with me and that counts for a lot. They were professional, knowledgeable and offered me sound advice. I have since recommended to family/friends. Thank you Nikki and your team, I appreciate your time and words of wisdom. Best wishes to you and your company.
David O'Shea
David O'Shea
17/02/2023
Daire and the team helped me with a recent mortgage switch. Fantastic service from my first call with Daire through to completion. If you are thinking about switching mortgage then the first thing you should do is contact these guys. I am so glad I did!!
Julie Gleeson
Julie Gleeson
03/02/2023
I was delighted with the service I received from the moneysherpa team. So efficient, friendly and on point with everything. Highly recommended them.
James Grace
James Grace
02/02/2023
I used Moneysherpa when switching my mortgage provider at the end of 2022. Petrina was very helpful when detailing the different options available and working through the process. The online platform for uploading all the various documentation is very user friendly and clearly lists out what is uploaded and still outstanding. Louise then took over for the drawdown stage and answered any questions we had. I would definitely recommend Petrina and the team to anyone planning on switching their mortgage.
Gary Meade
Gary Meade
25/01/2023
Great to see a “modern” mortgage service in Ireland. Everyone knows a mortgage application can be extremely time consuming and document heavy but with everything being “online” made such a difference. Highly recommend Petrina from discussing our options from the outset and any curve balls that came our way during the process. Damian (jacobs law) and Niki in Money Sherpa. Highly recommend. Thanks everyone
Dara Gannon
Dara Gannon
16/01/2023
Had a very informative consultation with Kinga who answered all our questions and gave us sound and impartial advice. Top class service. Thanks!
Brian Carpenter
Brian Carpenter
20/12/2022
Great service...a pleasure to deal with & very prompt with responses to any queries. Would recommend to anyone.
Edwin Nienhuis
Edwin Nienhuis
20/12/2022
Very good service by the MoneySherpa team in helping us switch our mortgage earlier in the year. First an introduction call, explaining the service and next steps in detail followed by the creation of a personalised portal where you can upload all your documents and track the mortgage application process.
More great insider tips from the sherpa moneysherpa
  • Why I founded moneysherpamoneysherpaAfter 20 years creating B2C products and services for big corporates, I’ve launched a startup, moneysherpa. Empowering people to take control of their money. Here’s why.

Get Your Free
Mortgage Switching Guide!

Save big with our 26 page Ultimate Switching Guide and tips straight to your inbox