December, 1986. Harts Corner, Glasnevin
I found the photographs this week, worried I had lost one in particular. Turns out I had put it away so safely I could not find it.
Anyway, here it is. On the back it says “Feb ‘87, started trading in December, ‘86, sold in February ‘89, bought Navan July ‘89”
This is where my business story starts, at the age of 23, on 6th December, 1986.
It was a failed, locked up shop unit with a 2 bed apartment overhead. My brother Pat and I worked like mules to build it up from ground zero, from zero turnover to a healthy one within 12 months.
We traded from 7 am to 12 pm, not very common in 1986, built the turnover up well, and sold it on at a nice profit in early 1989.
Then I went to Navan in July 1989 and bought this property on Flower Hill.
Did quite well there, too, but my dad wanted to retire from his petrol station business in Enfield, Co. Meath.
So I sold Navan and bought the filling station business in Enfield in 1996 and spent a lot of money developing it: new convenience store, new branding, new deal with the oil company, new tanks, equipment, pumps, car wash, etc.
I had a young family and the hours of work and commitment in retail are savage. Retail, if you are running the show yourself and the buck stops with you, is relentless and genuinely 24/7.
I had also bought a small shop and building at Seapoint avenue, Blackrock, Co. Dublin and was trying to develop and run this at the same time.
So I eventually sold it in 2006 and went into property development. I bought a site in Edgeworthstown in Longford and built a block of 8 apartments.
Down through the years I had been buying and selling property, flipping shops, houses, a little bit of renovation and improvement but this was the first time I was building from scratch.
So I managed the build myself, hired a teleporter and learned how to drive it, engaged the services of sub contractors and was involved in a race against the clock.
Just as I was coming to the end of the build and getting ready to launch the apartments the signs in the economy were bad, even though there was some hopelessly misguided talk of a ‘soft landing’.
We all know what happened next: the economy crashed and nowhere was the effect more pronounced than in the property game.
I lost everything. Wipeout.
When the tide goes out there is no fighting it. You are stranded. Just ask Sean Quinn or Tony O’Reilly or any of the other wealthy individuals who ended up being wiped out by the property crash.
When I say I lost everything I mean everything material or financial. I was healthy and had a great family and even though I hadn’t a cent to my name and massive debts I had two things going for me:
- A good attitude
- A willingness to work hard
So I went back to college to study law. I went to Griffith college and studied full time for about 4-6 months.
I spent the days in my garage at home and the nights in Griffith attending lectures.
I sat the 8 FE1s-the entrance exams to the Law Society-and scraped a pass.
In all 8 subjects.
So then I became an apprentice solicitor and qualified after the usual period of apprenticeship and professional practice courses in the Law Society.
Now I have my own solicitor’s practice here in Enfield, Co. Meath.
And the funny thing is my office is only about 200 yards from the filling station. I even buy my milk for the tea there, sometimes.
It’s funny walking across the forecourt on a morning to buy a litre of milk for the office and getting a flashback to 20 years previous-for example walking across the tanks I can remember vividly getting down on my knees at least twice a week to dip the tanks.
Or the little office in the shop in which I spent a lot of time dealing with the problems of a growing business. Or the flower beds around the place-they were my doing.
And the property I refer to above at Blackrock , Co. Dublin? I sold it to my younger brother who in turn sold it to my older brother and I am now acting in the conveyance of this property, some 20 years later.
Talking about going full circle.
What you have read is most of my origin story; I have actually left out parts. For legal reasons.
Building your brand
If you are starting or growing your business it is a good idea to use your origin story-your back story. Everyone has one.
And it helps grow and build your brand. Some brands appear to have something intangible that makes them more attractive to would be customers or clients.
One of these hidden characteristics is an origin story.
Think Ray Kroc, the milkshake salesman, building McDonalds and his origin story as a seller of milk shake machines and what he noticed on his travels, particularly the success of the McDonald brothers restaurant.
Think about Phil Knight starting Nike. Or Richard Branson and his beginnings in business.
Or Howard Schultz who was instrumental in growing a small coffee shop in Seattle, Washington called Starbucks into a global corporation. Or the college students who started Google.
And ask yourself this: when did you last, or ever, see an ad for Starbucks or Google? Starbucks and Google are just two brands who have grown without huge or any advertising spend because of their origin story and the ability to attract true believers.
What’s your origin story?
P.S. Some of what I have learned is to be found on my YouTube channel and SmallBusinessLawIreland.com.
If you have an interest in employment law in Ireland EmploymentRightsIreland.com contains a good deal of free information which you may find useful, and my solicitor’s practice website is BusinessAndLegal.ie
Brilliant Terry fair play to you a real trooper. Elaine
Thanks Elaine 🙂
Well done Terry.I read your blogs regularly,great business signposts, keep up the good work.I have forwarded some of you articles to others interested.Takes courage to do what you did.Willie Dillon
Thanks Willie.
Absolutely fascinating! Compared with yours, my story is boring.
What triggered your interest in law to make you want to qualify as a solicitor?
Peter, thanks.
I had tried everything else!
Ah no, I have always had an interest in law but missed out by 1 point when I did the leaving cert. I didn’t repeat because I was in boarding school and couldn’t wait to get out!
Pure genius well done terry not afraid of hard work nearly a thing of the past
Thanks Ger, for the kind comment. If you keep showing up and plugging away things, sometimes, can happen for you.
Impressive Terry, talking to you we never guess you ‘ve been trough so much. You need it courage to accomplish all this things in life.
Congratulations!!!
Maria
Thanks, Maria, for your kind words.
Fantastic Terry. I often wondered how your life went as you were an unusual solicitor. I got wiped out myself in the recession and never quite recovered materialistically but my relationship with God vastly improved. God doesn’t value our lives by what we own or how successful we are outwardly. John 3:16
Hi Terry,
You say you hadn’t a cent and massive debts after 07, so wondering how you kept your house and paid off those massive debts? Just curious. I have a fascinating story about property from boom to bust if you ever wish to know as you walk the Canal at lunchtime. My brother pumped petrol for your Dad about 1972,he became wealthy later, but I didn’t.
John,
I studied law intensively over a short period of time, passed the entrence exams (the FE1s) to the Law Society, became an apprentice solicitor, and started a new career.It has worked out pretty well.
Where are you from originally?
Hi Terry , your story is so inspiring and encouraging….. so glad I read it . I am at that point in life where I have lost my financial security. Reading what you have shared and the one lesson you learnt gives me true hope !
Thanks 😊
Thanks 🙂
I’m not sure how I started getting emails from you but I’ve always been interested in industrial relations and so on. I like the cases you explain in your emails that you deal with. The background story is fascinating in itself. I never thought I’d hear the “Gorry” details, excuse my bit of humour. Anyway, well done, to say the least.
Thanks Patrick
Really all Inspiring
Thanks Muhammad
You are the epitome of grit and determination.
Well done and continued success and happiness to you.
Thanks 👍
Your career started when I was born. It takes a lot of grit and determination to actually re-start from zero like you did in 2008. Well done sir. I’m sure that everyone around you draws a lot of inspiration from your life and and the way you turned it around despite steep challenges.
Thanks 👍
Hi Terry, Your videos are brilliant. I especially like the last one about the therapeutic benefits of making videos.
I have been interested in making videos for some time.
Anyway keep up the good work.
New York city viewer from Co Kerry
Thanks a lot 👍
Hi Terry, I really enjoyed your coverage of the Magnier case .
On seeing you on that motorcycle, I was wondering what age you are , I realize years ago I used to have a motorcycle.
Coverage from that is definitely exciting.
I live in Vancouver on very easy to get all this coverage now on YouTube.
I drive through Enfield frequently going home to County Roscommon
Regards
John O Beirne
John,
Thanks.
I am the wrong side of 60!
Amazing life …just shows you what hard work and commitment can achieve.
Only stop for the racing 🙂
Thanks 👍
Hi Terry ,
Re’ your ‘cat-uation’ smell etc from previous tenant in the apartment for which you got your keys last week… cut onions in half and leave two or three in each room . They will soak up the bad smell if you have to leave the windows closed.
Best of luck Sir !
I had a similar time with tenants who I provided new induction hobs, wooden sheds , new beds etc for .
Philip
I read your blogs regularly. Your a mine of information. I see you still practise.Do you take on new clients?
Yes, sure do.