THE ACCIDENTAL ENTREPRENEUR “Th is is an adventure book! And don’t believe Gerry’s claim that it was all an accident. It’s a tale of eff ort, enthusiasm and enterprise. Enjoy it.” Senator Feargal Quinn, founder of Superquinn “Gerry Murphy’s book shows vividly a restless entrepreneurial spirit in action, from the regeneration initiatives in his native Churchtown village in north Cork to the audacious establishment of the GreatGas service stations.” Senator Mary White, co-founder of Lir Chocolates “Gerry is a fantastic businessperson. Th is book is both interesting and insightful, a must-read for any business owner. Gerry’s passion, crea- tivity and determination are inspiring.” Bobby Kerr, chairman of Insomnia, founding panelist on Dragon’s Den and radio broadcaster “Passion and integrity are two of Gerry’s greatest qualities, qualities very evident throughout his life and this book. If you aspire to owning your own business, Th e Accidental Entrepreneur will inspire and set you on course.” John Lowe, the Money Doctor THE ACCIDENTAL ENTREPRENEUR How we turned €3,749 into a €100 million business in three years Gerry Murphy Originally published in 2014 by Orpen Press, Lonsdale House, Avoca Avenue Blackrock, County Dublin, Ireland. www.orpenpress.com Reprinted in 2020 by Bruhenny Press, Booney House, Churchtown, Mallow, Co Cork, Ireland www.bruhennypress.com © Gerry Murphy, 2014 Paperback ISBN 978-1-909895-59-1 ePub ISBN 978-1-909895-60-7 Kindle ISBN 978-1-909895-61-4 PDF ISBN 978-1-909895-62-1 Typeset in Minion Pro, 11 pts Cover design concept by Keaney Design and Hayes Design. Please note, some identities have been changed to protect the privacy of individuals and organisations. A catalogue record for this book is available from the British Library. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior, written permission of the publisher. This book is sold subject to the condition that it shall not, by way of trade or otherwise, be lent, resold, hired out, or otherwise circulated without the publisher’s prior consent in any form of binding or cover other than that in which it is published and without a similar condition including this condition being imposed on the subsequent purchaser. Printed in Dublin by SPRINT-print Ltd DEDICATION Th e Accidental Entrepreneur is dedicated to my wife, Dorothy; my daughters, Niamh and Deirdre; and my late parents, Jack (1920–2000) and Nora Murphy (1923–2013). I also dedicate this book to Ailbhe O’Reilly, commissioning editor at Orpen Press; Eileen O’Brien, my editor at Orpen Press; and most especially Jonathan Self, a friend for 28 years since we fi rst met at the International Direct Marketing Conference in Montreaux, Switzerland in April 1986. Without Ailbhe and Eileen’s interest and support and Jonathan’s input, help, advice, research suggestions and encourage- ment, you simply would not be reading this book. GM ABOUT THE AUTHOR Gerry Murphy holds a Bachelor in Financial Services degree from University College Dublin and a Masters in Business Administration from Fordham University, New York, for which he studied at the Irish Management Institute. He also holds an Advanced Diploma in Public Relations from the Institute of Public Relations in Ireland. All his studies were completed as a mature student. Gerry is a Fellow of the Institute of Bankers in Ireland, having worked in banking for 25 years with Bank of Ireland and First National Building Society before setting up the not-for-profit Churchtown Village Renewal Trust in 1997. In 2001 he was named Cork Person of the Year for his ‘visionary rural renewal initiative’. In 2005 he founded GreatGas Petroleum (Ireland) plc. He holds many other non-executive director-ships and works as an international management services provider. Gerry is a former director and chairman of the not-for-profit organisation Guaranteed Irish (a national body promoting the sale of Irish-manufactured goods and services) and former chairman of the European Union’s THERMIE project for Ireland. He was also the executive producer of Bloom, a feature film released in 2004 based on the novel Ulysses by James Joyce. The author’s royalties from the sale of this book will be donated to Churchtown Heritage Society. www.gerrymurphy.com vi CONTENTS Dedication ........................................................................................... v About the Author ............................................................................... vi Foreword .............................................................................................. ix Introduction ........................................................................................ xi Part I: Th e GreatGas Story ........................................................ 1 1 How I Became an Accidental Entrepreneur ........................... 3 2 Cornering the Ballybunion Lettuce Market ............................ 9 3 Confessions of a Secret Signpost Fitter .................................... 14 4 Th e Fundamental Interconnectedness of All Th ings ............. 18 5 Striking Oil .................................................................................. 23 6 Love at First Th ought ................................................................. 28 7 We Could Just Be in Business ................................................... 35 8 In which Everyone Is Surprised ................................................ 41 9 Between the Crispy Duck and the Kung Pao Chicken .......... 47 10 2006: Th ings Become a Little More Complicated .................. 52 11 Decisions, Decisions (Some Good, Some Bad) ...................... 58 12 Under Attack ............................................................................... 64 13 2008: Th e Year of Living Dangerously ..................................... 70 14 Th e Night of the Oilman’s Ball .................................................. 75 15 Where Exactly Are the Cavalry? ............................................... 81 16 When You Don’t Know What to Do, Do Nothing ................. 86 17 Epilogue ....................................................................................... 89 vii Contents Part II: How to Start a Successful Business with Hardly any Money (Even in a Recession) ..................................................... 91 18 Why You Should Read On ........................................................ 93 19 Th e Way of the Accidental Entrepreneur ................................ 97 20 Th e Joy of Business ..................................................................... 103 21 What’s the Big Idea? ................................................................... 107 22 Why a Recession Is the Accidental Entrepreneur’s Friend ... 116 23 How to Start a Business on a Shoestring ................................. 122 24 Th e Ethical Advantage ............................................................... 127 25 Honey, I Shrunk the Business Plan .......................................... 134 26 Creative Ways of Raising Money .............................................. 141 27 Th e Partnership Dilemma ......................................................... 148 28 Th e Extraordinary Benefi ts Associated with Failure ............. 152 29 Th e Gentle Art of Negotiation (and Why It Is so Important) ................................................................................... 155 30 How to Build a Strong Business ................................................ 159 31 Th e Perfect Marketing Plan ....................................................... 167 32 How to Succeed Without Selling .............................................. 179 33 Money, Money, Money .............................................................. 186 Acknowledgements ............................................................................ 190 Index .................................................................................................... 193 viii FOREWORD Th e Accidental Entrepreneur is as much about the author’s attention to detail as it is about becoming successful in business by accident. Equally, it demonstrates the essential characteristic needed to be successful in business, whether by accident or design, which is the unremitting sense of passion for their business activity that all self- made successful entrepreneurs have in abundance. Gerry Murphy, time and again, underestimates himself. Not only does his book illustrate his attention to detail, he is also extremely well organised with extensive knowledge and management skills. Gerry concludes that building a business is a creative activity and says it is one of the most exciting, interesting and all-consuming activities that one can be involved in. It is a lifetime commitment, and, although making a profi t is essential, and a method by which an entrepreneur can measure their success, I agree that it isn’t just about money. Money itself is only a small part of the pleasure derived from being a successful entrepreneur. Gerry sums it up when he says, ‘We are in business because we love it.’ But that is not to say that there isn’t a tide in the aff airs of us all, in the words of Shakespeare, that, taken at the fl ood, leads onto fortune even by accident. Out of events and circumstances which no one could predict or indeed control, arise opportunities that a potential acciden- tal entrepreneur will be the fi