James Fahy is CEO and co-founder of JustTip, a team tipping platform specialising in cashless tipping solutions, designed for the hospitality industry. JustTip saves business owners the 11.8% PRSI liability on every tip managed through the system, reduces administrative burdens, and brings them in line with tipping legislation.
What are your main priorities and goals in your role?
My day to day my role is predominantly focused on future growth, but as this is a start-up, I am pulled in a million different directions!
What are your biggest challenges as CEO?
As a young CEO the biggest challenge was building validity in the market. JustTip began three years ago when I was 19 years old. When my co-founder Ciara Walsh and I started JustTip, it was like a baptism of fire which instilled the type of company and culture we were looking to build.
How do you keep your team/ staff motivated?
For me, I want the team to want to come to work happy every day and to really enjoy what they do. Looking at the data, most people will spend a third of their life in work, which is a significant amount of time. With this in mind we have begun to build a culture of inclusivity, openness, creativity and honesty. I find that these are the ingredients that have formed our fun and enjoyable, but hardworking team culture. There are tough days, as there are in any company, but on balance, this arguably makes the good days even better. Each day the team works towards a shared goal and with that, they all equally feel the ups and downs. From this culture comes all of our motivation to make this the best company to work at. There’s is a great quote from Peter Drucker that sums up the topic of culture and motivation
perfectly – “Culture eats strategy for breakfast’. Without a motivated team we cannot achieve our goals.
What are the challenges facing the industry going forward?
In my opinion, tips and service charges are a sensitive part of any business, and I don’t see this changing any time soon. For a long time, they have been overlooked, or seen as a grey area. There is an inherent apprehension to change, which proves one of the core challenges in our market. Despite these barriers, JustTip has risen to the challenge with over 10,000 service workers signed up to the platform from businesses across Ireland, the UK and Portugal. The recent legislation changes in Ireland and the UK are the main drivers, alongside the rising costs for businesses to collect and manage tips through the company’s accounts.
What new trends are emerging in your industry?
Looking at the hospitality industry, I can see the shift from manual paper-based tasks to more automated systems. This move has ignited a technology revolution to streamline and increase operational efficiency. The main drivers of this is legislation, similar to what we help to solve in JustTip. Increasing costs continue to spark a need for businesses to reduce waste and all of this is accelerated by a new generation taking over and leading businesses today.
Are there any major changes you would like to see in your sector?
Not necessarily in the sector. However, I would love to see more young founders entering the entrepreneurial space, and for them to receive the support they require. When we started JustTip at 19, we had zero experience and operated solely off gut instinct when navigating our initial product development. Looking back, had we received more comprehensive support from an early age, JustTip would, in my opinion, be a few years ahead of where it is today.
As an employer are you finding any skill gaps in the market?
The job market is an interesting space at the moment. Obviously, AI has exploded which has seen a greater move into that industry. There is definitely a smaller hiring pool when it comes to hiring in start-ups, given the higher level of risk involved compared to multi- nationals. With this risk in mind, the potential upside has brought together a phenomenal team in JustTip, which I am immensely proud of, especially as a young founder.
How has the COVID-19 crisis affected your business/sector?
The monumental move from cash to card during and post-COVID set the stage for JustTip to come to market. I was in a coffee shop, and I wanted to leave a tip but I wasn’t carrying cash. I didn’t trust that the tip would go to staff, and the idea for JustTip just hit me.
How do you define success and what drives you to succeed?
One of our core success metrics at JustTip is the number of active service workers on our platform. This user base is directly linked to tips being deployed. This is money that we help employees collect, and is distributed in an equitable manner. These employees who we support are a clear measure of what JustTip was brought to life for, and a live measure of success.
What’s the best advice you’ve been given in business?
There is no easy option.
As a young founder, I have made enough mistakes to last an entire career! These mistakes usually come from looking for quicker or easier ways to do things. What I have learned is spending money or hiring staff is not a solution, just a short-term remedy to a problem. Heavy lifting is needed to resolve most problems, to ensure a lasting solution.
What advice would you give to others starting out in business?
Trust your gut, trust the process, and don’t rush it. Every founder wants to grow as fast as possible, but unfortunately growth takes time. It’s one day at a time, one customer at a time, and one challenge at a time. From this you have a strong foundation to grow your business without the need to rely on too much investment or others.
What have been your highlights in business over the past year?
The release of the new JustTip Flex mobile device for restaurants. This product was three years of thinking and planning, and months of development. JustTip has been through a hell of a journey over the past few years, but this product release signals a new chapter in our long and winding journey.
What’s next for your company?
JustTip is moving fast with new customers in mainland Europe and further expansion into the UK. We have new faces and investors joining our community which is really exciting. Every day opens up more and more opportunities.
Where do you want your business/brand to be this time next year?
I can’t give away too much, but with legislation change in the UK and an increased demand for tipping systems, JustTip is looking at some strong growth across all our products. We are investing further into our product line and our platform, all to bring a more streamlined experience for our customers. These updates alongside the market opportunity would indicate a bright future for JustTip!
What is the best book you’ve ever read (non-business) and why?
I’d have to say the best non-business book I’ve read is “Grit: The Power of Passion and Perseverance” by Angela Duckworth. This book really lit a fire under me! Duckworth dives into the magic combo of passion and perseverance, showing that sticking with it beats talent any day. Plus, the practical tips on how to build grit in yourself and your team are gold.
What is your favourite hobby and why?
Growing up I have always played rugby. Many injuries later I am still playing, but sometimes struggle with the time commitment. So as everyone seems to be doing in 2024, I started running, with my first marathon under my belt in June!
What is your mantra for life?
You only get one shot at life!
I feel that the world today is continuously looking for the next big thing or instant gratification. We tend to miss moments in life, big and small, looking ahead at what is to come. The ups and downs of running a start-up has definitely made me appreciate enjoying the smaller moments in life.
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