As Vice President - Chief Sales and Marketing Officer I led the marketing-oriented sales growth of a high-tech software start-up from near zero sales in 1998, to a $4.5M run-rate with 20% earnings in 2002. Sustained sales growth of 450% in 2000 and 300% growth in 2001 were achieved through a combination of direct sales and managing overseas sales channels.
More recently, recruited to restructure business development for a software business unit of the acquiring company. Post acquisition, led test products software sales with average quarter-on-quarter sales growth of 20% and average revenues growth of 9% from 3Q01 – 3Q02. Proven sales team building and leadership skills essential for high revenue growth start-up companies. Experienced in the operations and planning necessary to take entrepreneurial environments from inception through acquisition.
2001 - Present
DIRECTOR, BUSINESS DEVELOPMENT for major Semiconductor Automation Company
During the acquisition I was recruited to lead the newly formed Test Products Group in the interface software business unit of the acquiring company. My initial responsibilities were twofold: 1) lead day-to-day operations, with P&L responsibility, of the newly formed software group, and 2) lead the integration of software products into the global sales organization. As sales of products ramped, I was able to take on the broader responsibility of leading the business development of software products for the business unit.
With the product development team largely intact post-acquisition, my primary goal for the group was to maintain product development focus, while minimizing the impact of integrating into a larger company. With minimal interruption, The product development team maintained its focus and released two major upgrades and two new products during its first year. Timely releases and new product offerings were key to solidifying products market leader position: market-wide name recognition, 75-80% commercial market share, and acceptance by 75% of the new semiconductor factories and 90% of the top equipment suppliers.
To achieve post-acquisition sales and revenue goals, I had to quickly gain the mind share of a global sales organization while competing with numerous new products gained through previous acquisitions. Through a strategy of sales meetings, product positioning seminars, and the constant feeding of qualified sales leads, the global sales organization quickly ramped, and within 9 months of the acquisition was responsible for 85% of product sales. With concise packaging, easy to sell pricing and licensing models, and relatively short sales cycles, our products quickly became a sales team favorite. During a cyclically depressed 1st year, quarter-on-quarter sales growth of products averaged 20%, while revenue growth averaged 9% for the first three quarters post-acquisition.
1999 - 2001
VICE PRESIDENT, SALES AND MARKETING for a Software Start-up Company
When first introduced in January of 1999, the start-up had just finished its initial product development, but was a struggling division of ConneXsys Engineering, and was actively looking for a buyer. Working with the management team, including the two founders, I was hired as a consultant to perform a market analysis on a new software product for the semiconductor equipment market. Market research showed a strong potential to dominate a niche software segment, with moderate competition, in a market that could grow to $25M in 2-3 years. Subsequently, I accepted the position to lead sales and marketing, as the management team executed an employee buyout in April 1999.
The sales and marketing plan focused on a new manufacturing technology, while employing a pull strategy, whereby semiconductor manufacturers purchased the software and required their equipment suppliers to do the same. The key to success was positioning the fact that the software solved a bigger problem than the testing of semiconductor equipment. The software products provided an assessable means by which manufacturers and their equipment suppliers agreed on the level of compliance to requirements. Since an average semiconductor factory has $1B of equipment, the potential savings to both manufacturer and supplier was compelling. As a result, revenues climbed from near zero to a $4.5M run rate with 20% earnings in 2001. Sales execution was through a combination of direct sales domestically and overseas sales channels, which used VAR partners and distributors. Overseas sales in Europe and Japan accounted for 50% of the $2.1M revenues in the first half of 2001.
Marketing activities such as tradeshows, seminars and website promotions, were complemented by extensive inbound marketing to semiconductor manufacturers and industry standards organizations. Through a series of seminars and workshops critical testing requirements were learned and partnerships necessary to drive industry-wide acceptance were forged. In two years the software products captured 75%-80% of the new semiconductor factory market.
Early 2001 the management team and board of directors decided to pursue an offer. I led the assembly of the acquisition team and co-led the negotiations that resulted in a $5.35M offer based on 12-month trailing revenues of $2.6M. The acquisition was a purchase of assets whereby the acquirer assumed all liabilities, including a $750K debt.
1998 - 1999
KRONOS, INC.
Waltham, MA
SENIOR PRODUCT MARKETING MANAGER
I was recruited by the VP of the Manufacturing Systems Division to lead a development team responsible for the next generation manufacturing execution system (MES) software application for Kronos. Since Kronos had been losing market share in the shop floor control market for a couple of years, I was specifically tasked to develop a complimentary MES application to Kronos' flagship labor management application. Until the MES project was canceled at the end of 1998, I led the marketing and engineering product team and was responsible for business plan development, product requirements definition, and the selection process for a third party development partner.
After the cancellation of the MES project I assisted in the marketing research of a web-based labor management project that used the 'Voice of the Customer' research method. This market research method emphasizes discovering customer needs while minimizing pre-conceived solutions dictated by either customer's desires or internal solutions. The web-based application was introduced in late 1999, and although lacking in full functionality in its first release, the new web-based labor management solution became an instant hit with Kronos' enterprise customers.
1992 - 1998
FASTECH INTEGRATION, INC.
Lincoln, MA
PRODUCT MARKETING AND APPLICATION SALES SUPPORT MANAGER
I was first presented to FASTech Integration in 1991 as a candidate to lead the software Application Sales Support Group. After the position was filled internally, I joined this exciting start-up, as a member of the Application Sales Support team. FASTech Integration presented unique opportunities as this rapid growth start-up took a market leader position on its way from $3M in revenues in 1992 to revenues of $25M in 1997.
1997-1998 PRODUCT MARKETING MANAGER
After seven years in applications sales support, I was asked to lead product-marketing activities for FASTech's flagship software application, FACTORYworks. I was responsible for all marketing activities as FACTORYworks became the fastest growing MES application in the market. Key to the rapid growth was positioning FACTORYworks' modern architecture while establishing the application partners to fill the gaps inherent to a new software application. I established the FASTconnect ISP program for complimentary 3rd party applications needed to complete our whole-product strategy.
1995-1996 CORPORATE APPLICATION SALES SUPPORT MANAGER
Reporting to the VP of Sales and Marketing, I led the Corporate Application Sales Support Group responsible for the technical support of worldwide sales and services. The corporate sales support group complimented regional sales organizations by coordinating corporate-wide technical sales support, product training, and product launch activities. As technical liaisons for the customer, application engineers ensured that internal marketing and engineering organizations addressed customer feedback from pre-sales opportunities and post-sales training.
1994-1996 EUROPEAN APPLICATION SALES SUPPORT MANAGER
While based in Germany, I provided technical sales support and post-sales support activities for Western Europe. I was responsible for the technical development of local distributors, partners and FASTech's German office. Led the implementation team for Siemens semiconductor factory in Dresden, Germany and assisted in opening the FASTech GmbH office.
1992-1994 Application Engineer - Responsible for key account management, product training and consulting for Northeast customers as a member of the Eastern Sales team. Key account sales and management strategies let to exceeding sales revenue targets three years running.
1988 - 1992
MEGAMATION, INC.
Princeton, NJ
MANAGER OF APPLICATIONS SALES SUPPORT
Upon completion of the consulting contract, I was hired as the 7th employee of Megamation, Inc, a provider of robotic automation systems for manufacturing. At the time I joined, Megamation had just finished a seed round of financing, had revenues of less than $1M and the most innovated manufacturing robotic system on the market.
I was initially responsible for application software development of automation information systems that featured the Megamation robot. As Megamation grew to about 25 people, revenues over $4M and an IPO, I was asked to lead the Application Sales Support team. Reporting to the VP of Sales and Marketing, I was responsible for the technical support of pre-sales and post-sales activities, including technical assistance and customer training.
PRIOR EXPERIENCE - Eight years of technical research in the fields of aerospace and scientific research with multiple technical publications.
EDUCATION:
1981 Master of Science, Mechanical Engineering, Rensselaer Polytechnic Institute, Troy, NY.
1979 Bachelor of Science, Mechanical Engineering, Rutgers Engineering College, New Brunswick, NJ. |
