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A Monthly Journal for Venture Partners and Enterprise Software Executives
October 2004
In This Issue
Venture Profile: Jay Hoag, Technology Crossover Ventures
CEO Spotlight: Bob Zangrillo, NorthStar
Are You Bowling With a Banana?
Internal Service Delivery Should Run More Like a Business
Software M&A Insights
Executive Job Listings
Software Sales Jobs
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Visit: www.SoftwareSalesJobs.com for more information or to request a demo.
Venture Profile: Jay Hoag, Technology Crossover Ventures
By Angel Mehta, Managing Director, Sterling-Hoffman Executive Search
For a technology-focused venture capital firm founded in 1995, Technology Crossover Ventures has displayed the kind of investment discipline that would make Warren Buffet proud, refusing to chase the dotcom startups that defined the the bubble years. Instead, the fund focused on its core competency of expansion stage deals, investing in the likes of Ariba, OpenText, Actuate, and RealNetworks - well after the seed-stage risk had passed, but still in time to reap huge returns for it's Limited Partners. Angel Mehta, Managing Director at Sterling-Hoffman, talks to TCV co-founder Jay Hoag about the irrelevance of a person's bank account, and the biggest misconception about late-stage investors.
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CEO Spotlight: Bob Zangrillo, NorthStar
By Angel Mehta, Managing Director, Sterling-Hoffman Executive Search
For years, the financial services industry has been by far the biggest consumer of enterprise technology, and NorthStar is betting that the most significant paradigm shift of all is yet to come. Angel Mehta, Managing Director of Sterling-Hoffman, chats with NorthStar's Chief Executive Officer Bob Zangrillo to talk about the evolution of wealth management, the irrationality of entrepreneurs, and why no software startup should be spending more than $5 million a year to grow.
Read full article >>

Are You Bowling With a Banana?
By Jim Watson, General Partner, CMEA Ventures, and By Tate Holt, Author, Prescriptions for Growth
A good sales plan is like a bowling ball. It's a model of excellent construction; perfectly symmetrical, well-balanced, and weighty enough to produce predictable results when wielded by the right person. Unfortunately, the sales plans used by many software companies more closely resemble bananas. Flawed in shape, size, and composition, they don't roll well and are too soft to knock anything over -- even if they're thrown hard enough to get to the end of the alley. The only good thing about them is that they're soft enough to accommodate three sturdy fingers.
Read full article >>

Internal Service Delivery Should Run More Like a Business
By Scott Hammond, CEO, newScale Inc.
Recent surveys show that IT budgets are on track to increase anywhere from 2% to 8% this year. Good news: the IT spending freeze is over. But rather than investing in "novel" solutions that require massive infrastructure shifts, many organizations are instead leveraging technology to cut costs and improve efficiencies surrounding existing core processes. Internal service delivery -- the deceptively costly business of supplying employees with the tools they need to do their jobs -- is one "core process" now in greater focus for today's forward-thinking companies.
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Software M&A Insights
By Ken Bender, Managing Director, and Allen Cinzori, Vice President, Software Equity Group LLC
M&A valuations continued to range widely in the third quarter, reflecting disparate buyer motives and significant variations by product category. Once again the highest multiples were paid by those buyers seeking to enhance and differentiate their existing offering by adding incremental functionality. Veritas fleshes out its content management offering by acquiring KVault, a leading provider of email archiving solutions, while McAfee plugs a hole in its intrusion prevention offering by acquiring Foundstone, a provider of network vulnerability assessment software.
Read full article >>


Executive Job Listings
8773M - VP of Sales Bay Area
Candidate must have successful track record of sales management within market leading integration software vendor (TIBCO, WebMethods, SeeBeyond, Vitria) and have led a North American sales organization of at least $40m in revenue. The ideal candidate will have a minimum of 7 years senior level management experience and a demonstrable track record of success in rapid growth environments.

8113M - VP of Sales Northeast US
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.

6100K - Chief Executive Officer Boston MA
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.

9111K - SVP of Field Operations Northeast US
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, Siebel, SAP, Oracle, PeopleSoft, etc.

7345K- Chief Executive Officer Bay Area
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 as is extensive domain expertise in the enterprise space, particularly the Finance and Government 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.



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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