Episode 51 That Great Business Show - Fidelma McGuirk, founder & CEO, Payslip
Episode 51 of 'Ireland's best business podcast' -
Westport, Mayo, based entrepreneur, Fidelma McGuirk, founder of Payslip
She explains how she attracted world backers for her rural Ireland based, but globally focussed, business
She was previously involved with the TaxBack company where she set up operations across 21 countries. She moved to Westport in 2015.
Her global customers don't mind where her business is based, as her own customers are multi-located so they don't even think (or ask) where Payslip is based.
They have a strong bias to draw people to the western seaboard to work from there.
They are creating 150 jobs, 30 of which they filled in just two months.
They've raised €12.3 million which should last them for at least two years. She says fund raising is never easy, but they managed to raise their money in just 7 weeks.
She says, "A VC isn't there to run your company" and she explains the importance of finding the right investors, and how to do find them.
The best model for a funding is to get a 'load of no's' early on - rather than having the process long-dragged out.
She talks us through the nitty-gritty of a funding round, warts and all.
Conall and Fidelma chat about how difficult it is to set up your own business and why being in business means it's 'always on'
She wants to build Payslip into a global leader in payroll operations.
She talks about the need for more women role models in business and the need for changes in taxation for founders.
Her 'hire in a heartbeat' - Mark Simons, but she's already hired him. Eventually she opted for Lexi Reese, COO of Gusto and/or she says she'd be 'honoured' if the team at technology investment firm Base 10 would join her team.
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