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By Angel Mehta, Managing Director, Sterling-Hoffman Executive Search
In the early 90s Saddam Hussein invaded Kuwait, driving the U.S. economy into shambles. In that chaotic environment, Bill Tai thought it would be fun to return to his roots - working with technology startups as a venture capitalist. Since then, as a VC, he has funded over 30 startups with great results - roughly half of his projects have grown to become public companies. Angel Mehta, Managing Director of Sterling-Hoffman, chats with Bill to discuss several subjects - the biggest mistakes that entrepreneurs make when trying to secure venture capital, some of the interesting 'business problems' he has funded, and why startups are fun.
By Angel Mehta, Managing Director, Sterling-Hoffman Executive Search
Secure Computing passed through the litmus test when it was losing $0.50 on the dollar in sales back in '99 and an easy decision would have been to file bankruptcy. But in came John McNulty with loads of Intel experience and turned the company around from losing $0.50 to making 20% operating margins last quarter. Angel Mehta, Managing Director of Sterling-Hoffman, chats with John about how Intel's culture helped him in his salvage efforts, and his whooping 1000 channel partners in the security space.
Innovation is still the key to growth in the high tech business, but it has broader implications than in the past. Today some of the most important innovations are about the business model - how technology is being sold and delivered. Offering Software as a Service (SaaS) via subscription or utility models is reshaping key customer relationships for high tech companies. Along with the technical challenges, there are significant operational issues software executives must fully understand to successfully manage these new business models.
By Sydney Finkelstein, Professor, Dartmouth College's Tuck School of Business and Eric M. Jackson, Vice President, Jackson Leadership Systems
Have you taken the necessary steps to help maintain and grow your software organization's pre-eminent market position? Over the last several years, research has uncovered the key differences between several successful companies that eventually failed in some manner and other very successful companies that have been able to retain and grow their market dominance. The latter can be described as "SMART Organizations," and they regularly track and improve in the Three Pillar areas of SMART Leadership, SMART Strategy, and SMART Process. This article elaborates on SMART Leadership and how to make it blossom in your software organization.
By Jim Mackey, Director of Development, and Liisa Välikangas, Managing Director and Research Director, Woodside Institute
There are limits to corporate growth, which most CEOs will deny. Partly to blame are unrealistic investor expectations: when a company stalls, its market cap falls by 60%. Yet the liability of corporate size is an obvious numerical challenge. For Hewlett-Packard for example, whose 2002 merger with Compaq propelled it to $73 billion in revenue, sustaining the exceptional 17% annual growth rate it achieved over the prior 40 years, would have required adding $12 billion in revenue in '04 and $14 billion in revenue in '05 to put it over $100B today. Actual growth was only half this level slightly outpacing GDP to reach $87B in 2004.
A leading vendor of Supply Chain Management solutions for the manufacturing sector requires a VP Sales that can help the company further develop their foothold in the consumer packaged goods market. Interested candidates must have experience selling into the CPG vertical as well as manufacturing as a whole (process & discrete) with experience overseeing $25M+ in revenue. Early stage company experiences a must.
Early stage front office applications start-up with over 10 referenceable marquis customers and several million dollars in revenue traction seeks a CEO to assemble a professional management team and accelerate company's customer acquisition efforts. Candidates must have exposure to multiple functions within enterprise applications software and a strong enterprise sales background, specifically, a winning track record in securing significant deals on behalf of young companies that are competing against more established category leaders.
A rapidly growing developer specializing in knowledge capture and e-learning solutions with dozens of Fortune 2000 customers requires a Vice President of Sales who has effectively sold both enterprise and departmental software solutions, preferably in the content management, learning management, or business intelligence sectors. Candidates must have successfully led growth in a previous tenure from $10m to $50m in revenue.
Emerging network infrastructure software provider requires a San Francisco based CEO to take the reigns from the founding members and drive growth. A track record in building from under $5m to over $25m is essential and also extensive domain expertise in the enterprise space, particularly the Finance, Banking & Insurance markets. Candidates must have previous senior level executive experience (i.e. CEO, COO, GM) and must have demonstrated the ability to raise funding while crafting a compelling exit strategy.
Our client is a leading vendor of Knowledge Management solutions for mid-market, Government, and Global 2000 organizations. The ideal candidate will have a minimum of 7 years senior level management experience and a track record of success in young company environments, defined as cost-conscious revenue growth from $20m to over $70m. Prior background in selling CRM, PRM or HR applications is highly desired.
Our client, an emerging vendor of PLM & decision support solutions for manufacturers, requires a VP WW Sales to build the sales organization and drive revenue growth. The ideal candidate will have a background selling PLM, SCM or ERP solutions to discrete manufacturers. Experience growing revenues from under $10m to over $50m is also required. In addition, previous success at market leading companies such as: Agile, MatrixOne, PTC, Dassault, i2, Oracle, or SAP would be an asset. Candidate can be located anywhere in the United States.
Our client is a leading vendor of Product Lifecycle Management solutions for the process manufacturing industry. Reporting to the CEO, the VP North American Sales will be responsible for continuing to grow the customer base in North America. Critical requirements include extensive experience selling into process manufacturers (plastics, paints, compounds etc.) and a minimum of 5 years in a VP Sales capacity managing a minimum of $20M in revenue. Early to mid-stage company experience a must.
Candidate must have successful track record of sales management within a market leading network management vendor and led a sales organization from under $5m to over $30m in revenue. The ideal candidate will have a minimum of 5 years of senior level management experience. A track record of securing major enterprise deals on behalf of young companies that are competing against established category leaders is vital.
Candidate must have at least 10 years of enterprise applications sales experience, preferably within front office segment. Ideal candidate will have served as VP of Sales in past, managed at least $75m revenue unit for period of 3+ years, and have at least one successful tenure at market leading ISV such as: Documentum, SAP, Oracle, etc.
A privately held infrastructure software provider requires a VP of Sales that understands how to drive early customer traction. The ideal candidate will have successful early stage company experience, defined as growth from $5-30m+, and expertise in selling complex enterprise solutions to the CIO and CFO. Prior background in selling to the Financial Services sector highly preferred.
To apply for any of the above openings, please send one email to jobs@sterlinghoffman.com. Please include full job titles.
Note: We appreciate all submissions, but only qualified executives will be contacted. All senior sales executives are encouraged to post resumes on www.SoftwareSalesJobs.com
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