Ciaran Marron, chief executive of Activ8 Solar Energies, which was recognised for the first time at Deloitte Ireland’s Best Managed Companies Awards.
Are you a saver or a spender?
I consider myself a saver and a spender, depending on the situation. When I have a specific goal in mind, I am very disciplined about saving and cutting back on unnecessary expenses to reach that goal. However, I also believe in the value of spending on high-quality items that offer long-term benefits or bring me joy. It’s all about balancing thoughtful saving with smart spending choices.
What was the first job you ever received money for, and how much were you paid?
My first job was helping my father with his business, installing milking machines on farms. I was about 10 years old, and I was earning £10 per day. My father now works at Activ8, although I pay him considerably more than £10!
Do you shop around for better value?
For everyday personal items, I don’t usually spend much time comparing prices. However, when it comes to business-related decisions, I always make sure to compare options but I prioritise ensuring that service and quality are not compromised in the process.
What has been your most extravagant purchase and how much did it cost?
Last year, I decided to treat myself to something special and bought a nice car. It was a reward for the hard work, but my wife, Orla, still jokes that it was just a classic midlife crisis purchase. It’s probably the most extravagant thing I’ve ever bought, and while it was expensive, it was also something I had always wanted.
What purchase have you made that you consider the best value for money?
There have been many. To consider the best value for money depends on how much lasting enjoyment or practicality it brings over time, rather than just the price. For me, value comes from how useful or meaningful something is in the long run.
Is there anything you regret spending money on?
I don’t regret spending money on anything but I do regret not spending it on one specific thing. Around 2014, I remember laughing at a friend when he recommended I buy a single bitcoin when the price was around €300. It would now be worth about €55,000.
Do you haggle over prices?
I don’t typically haggle for day-to-day purchases, but when it comes to more significant buys, I enjoy negotiating to get the best deal.
Do you invest in shares?
Not yet. It’s something I’m definitely interested in doing eventually but I’m the kind of person who would need to study the market thoroughly before taking the plunge.
Do you have a retirement or pension plan?
Yes, I do have a pension plan that I contribute to. It’s an important part of planning for the future, ensuring I have some security for retirement while I continue to build my business.
What was the last thing you bought and was it good value for money?
The last thing I bought was a reMarkable tablet, which helps me keep all my notes organised digitally. Previously I would go through notebook after notebook, so this purchase was definitely worth it in terms of efficiency and reducing paper waste. It’s been great for both business and personal use.
Have you ever successfully saved up for a relatively big purchase?
Yes, my wife and I saved up for one of the biggest purchases in our lives – our home. We started building a new home in 2012 and, after four years of hard work and dedication, we completed our self-build project. It was a long process, but incredibly rewarding in the end.
Have you ever lost money?
Yes. We once set up a business as a distributor for products from South Korea. It took a significant amount of investment to establish. Unfortunately, the manufacturer suddenly changed its European sales strategy, which effectively shut down our business overnight. It was a tough lesson in the unpredictability of business.
Are you a gambler and, if so, have you ever had a big win?
I wouldn’t call myself a gambler, but I do enjoy placing a small bet a couple of times a year. I’m a big Formula 1 fan and for the 2022 finale, I accidentally added an extra zero to my bet. Luckily, it was on Max Verstappen, so I ended up with a nice little win!
What is your best habit when it comes to money? And your worst?
My best habit would be my diligence when it comes to big purchases. I’ll do a lot of homework before I commit to a big spend. On the flip side, my worst habit is probably my complete lack of the same when it comes to lower-value items.
How much money do you have on you now?
€50 and a debit card.
In conversation with Tony Clayton-Lea
