SAP was then making a foray into the U.S., into North America. If you engineer good products and show value, then customers will come your way. What was going on through your mind? : Of course. The buildings were constructed and remain owned by a Turkish company, but Trump licensed his name to the project and continues to derive significant revenue from fees for the use if his name. He has founded Solo Capital, a hedge fund firm which closed in 2016, and Autism Rocks, a charitable organization that raises awareness for autism. : Wonderful. Denmark's tax authority has won its appeal in the UK courts over an alleged 1.5 billion ($2 billion) fraud by Dubai hedge fund trader Sanjay Shah and scores of others. So then what happens after you make the decision. Founder and CEO of enterprise software company Vistex to talk about balancing the benefits and harm of technology. The first type of software in supply chain that was the first of its kind back then. He bought a 36-foot yacht for $500,000 in . Why would you want to unnecessarily tinker with a program that is working so well for the country? I think Im a good listener over the years. When I decided to sever my ties with SAP, my wife was six-months pregnant with our second child. A: Again, politics is not something that I Iike to talk about too much, but this property is still one of the best in the city and I continue to believe that. As part of Vistexs corporate social responsibility initiatives. All of my family and extended family lived in a one-mile radius. How would you differentiate a private equity profile from the venture capital that perhaps the earlier-stage guys that are listening are probably looking at? Sanjay Shah: Thank you. If you want me to help you with your fundraising, just book a call. So our focus is, how can we help our customers succeed even more with our products and offerings? : Correct. His new book is titled Fares, Do Not Sell/Share My Personal Information. They decided to hire me, but they said, The only position we have open for you in Operations is in Canada. I said, Ill take it.. There are so many different stakeholders. How do you build and scale a cloud business? Sanjay Shah formed the Vistex Foundation, which provides grants to non-profits focusing on health, education and basic needs programming, as well as Vistex Endeavor, an employee-focused charity focused on volunteerism. : Again, finding the cheerleaders for you is a huge challenge. We dont have venture funding or angel funding to go launch ourselves in a big fashion to let the world know that were out there. View Sanjay Shah's profile on LinkedIn, the world's largest professional community. This whole Cloud Revolution, we feel that we are a bit behind in this regard in terms of being out there and being perceived more as a company that can do equally well with our cloud offerings. What did you experience? Everybodys journey is unique, and everybodys circumstances are unique. Ellen Milligan , Donal Griffin and Karin Matussek 7 October, 2020 08:42 am IST You hear all these nightmare stories of startups that are doing very well, but theyre not able to project or manage the cash flows and their budgets accordingly. Alejandro: Did you recruit other people like talking of bootstrapping and especially in the early days, who were the initial people you got around you to help you out? As a business owner that helps you, serves you, and it never hurts to be fluent with numbers. Sanjay Shah '89 MBA, tech entrepreneur, founder and CEO of enterprise software company Vistex will be featured at the 14th lecture in the Donald M. Gruhn '49 Distinguished Finance Speaker Series. I wanted to give up a very small portion of it while drawing on their expertise. Sanjay Shah: Initially, for the first year, and a little over a year, it was just me by myself. Sanjay Shah: So, she was a little consumed. Alejandro: Sanjay, in terms of the early employees that you got, those were engineers, or what were some of these people because you were saying that this was . What does the future look like for Vistex? Alejandro: Of course. Im not a big social media citizen if you will, but from time to time, I will check LinkedIn. Thats what explains our existence and our success. Fortunately, I had a view from the inside as well, having been one of the earliest employees of SAP. When we say we listen, listening not just to our employees who are the closest to our customers and have the best product ideas, but also to our customers. What were the immediate steps to bring this to life? Shah's $5 million gift will name the new Vistex Institute for Executive Learning and Research. If youd like to do it, you can do it, but our R&D is in Germany, and youll have to do it here. And I wanted to move back to the U.S. My family wanted to move back to the U.S. : In this case, you guys were bootstrapping. The average being 2 1/2. The Founder, CEO and Chief Architect of enterprise software company Vistex, Sanjay Shah is a global businessman who has bootstrapped the company from its conception to its current role as a vital partner to worldwide titans like Apple, Walmart, 3M, Turner, Dell and Bayer. I was enamored with him and was like, I wonder where he went to school? Then that gave me the funding I needed to do what I wanted to do. Alejandro: Who were these people that you hired? I thought, Wow. Alejandro: How many employees do you guys have today, Sanjay? We were looking for a partner that has the chops, that has the history and the stripes to help us with our cloud journey. We license our software. It is important that we strike a partnership with a very large player that can give you a tremendous amount of reach into the marketplace globally, and SAP was a natural partner for us because they have thousands and thousands of feet on the street. : Yeah. They used to call it Platinum Consulting, where we go and help troubled SAP projects across the globe. Person A said I should do this, and Person B said I should do this. Alejandro: Why did you decide to all of a sudden bring outsiders into the mix? You and your wife are aligned. You need a lot of patience as well when youre selling into the enterprise. Q: When you bought the property, you said the build-out will take a year to 18 months and cost about $15 million. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. We consider ourselves fortunate in having been able to arrive some of that. Alejandro: What was your biggest learning or lesson from working with them? I was able to sell my services and sell my time. Under Sanjay's leadership, Vistex has grown into a global organization dedicated to transforming how businesses across multiple industries bring their products and services to market by taking control of mission-critical processes. So walk us through the process of how you came up with this idea, and how did you incubate it all the way to fruition? : We have a very demographic process. Sanjay Shah, founder and CEO of Vistex, is photographed Dec. 8, 2014 in the penthouse atop the Trump International Hotel and Tower he owns. : What were some of the key ingredients that you were looking for in a partner? I come from a family of traders and accountants. Employees at Vistex, Inc. rate Sanjay Shah higher than employees at Innovative Interfaces rate James Tallman I believe that if you engineer great product, and then dovetail or piggyback on top of a huge, successful go-to-market organization like SAP has globally, then that would be the recipe for success. The number of players has increased, and the customers buying skills have increased tremendously. You need a lot of patience as well when youre selling into the enterprise. Sanjays approach to building it and letting them come, The fun and challenges of bootstrapping your startup, How to grow yourself as a leader every day, : Alrighty. : No, Im not, but I plan to soon. One is I think I have learned to be a better listener. As we would bootstrap, I think it was important I realized that having because we are not spending as much on sales and marketing. I guess I'm a small example of that. It was a German software company that had been around for 20 years already by the time they came to North America. I was an SAP loyalist. Alejandro: You brought this up to 250 million in revenue without taking any type of investors. But there are a lot of players out there. I was changing my disciplines significantly. Theres not always just one decisionmaker in such a large company, especially when we rely on them as our go-to-market partner. Then slowly over the years expanded to other regions of the globe. I did have a word with her, and she thought Id lost my mind because as you can imagine, being one of the first employees of SAP, I had a very good package with them including some stupendous stock options, which I would have to get rid of or liquidate. And you need professional sales help. He gets a salary of around 72 Thousand Rs. And if you got any value either from this episode or from the show itself, share it with a friend. Part of the Storycuts series, this short story was originally published in the collection Little Black Book of Stories. Thank you, Alejandro. Perhaps it should be neither, and I should do what Sanjay said would work better. : Very cool. [Laughter] Be a good listener. We were able to land a couple of accounts in the year 2001. Then from what I hear, it seems it was more you build it; you build something great and something that people would like to use, and then theyre going to come. What kind of teams do you need? They were engineers. Sanjay Shah '89 presents a symbolic check to Lehigh President John D. Simon '19P and Georgette Chapman Phillips, the Kevin L. and Lisa A. Clayton Dean of the College of Business and Economics. Sanjay Shah: It got me a chance to be on the shop floor and to see how things are built and put together. : Did you recruit other people like talking of bootstrapping and especially in the early days, who were the initial people you got around you to help you out? Alejandro: So originally, Sanjay, you were born in Mumbai, India. This is only one story. So weve been able to constantly grow, not just for a product footprint, but also our customer footprint as we continue to invest. Chicago filmmaker Jennifer Reeder looks at the awards season nominees so far where did all the women go? Our customers tend to be larger companies, so perhaps we sold to one division, and then another division comes across, another geography for the company comes along. I was able to sell my services and sell my time. VISTEX CEO AND FOUNDER SANJAY SHAH. That was a very marketable resource. They try to go after high-potential, high-growth, the mature organizations, and we fit the bill on that front. A few weeks ago, the Indian-American CEO of Vistex donated $5 million to his alma mater, Lehigh University, in Pennsylvania, from where he completed his MBA 25 years ago. So I decided to explore. I also went to college right there, and my college also happened to be a mile away from where I lived. The idea was for me to start it, and then depending on how it goes, and once I would get my first couple of accounts, then think about bringing on additional folks. Hello everyone and welcome to the DealMakers show. See How I Can Help You With Your Fundraising Efforts. Sanjay Shah: The biggest bump in the journey has been this whole Cloud Revolution that customers no longer want to buy software and then run it themselves in their IT shops. Alejandro: In this case, you guys were bootstrapping. Vistex Asia-pacific Private Limited's Corporate Identification Number is (CIN) U72900MH2003PTC142888 and its registration number is 142888.Its Email address is chirag.shah@vistex.com and its registered address is UNIT NO C R 12TH FLOORNIRMAL BLDG 241/42 BACKBAY RECLAMATION NARIMAN POINT MUMBAI MH 400021 IN . Around for 20 years already by the time they came to North.! 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