Facebook gives people the power to. I think private equity can offer a lot of operational expertise and a lot of go-to-market expertise. Posted on December 3, 2020 by Sanjay Shah: Correct. 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 . 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. What worked for one person may not necessarily work for you. Thank you, Alejandro. I decided to come 10,000 miles away to go to business school. So something struck me and I said, Well, I cant do it here. Alejandro: Wonderful. Listen to what everybody has to say. In the 1980s and 1990s, he teamed up with Asrani and Kader Khan as the comical team in over 100 films. : You scaled this up to 250 million before you accepted external financing, so how was that process? As a business owner that helps you, serves you, and it never hurts to be fluent with numbers. Our youngest just went off to college last month, we are empty-nesters now so there's motivation to finish it out. So quite an accomplishment. Dubai: Dubai Police arrested Sanjay Shah, the main suspect in the biggest tax fraud and money laundering case in Denmark. Is that right? Im not a big social media citizen if you will, but from time to time, I will check LinkedIn. You spend time in classrooms learning about things, but spending time on the shop floor learning how actually products are put together, how they are transported, how the logistics work in terms of the distribution networks of large companies. Especially, the larger the organization that you sell to, the more durable and the more persistent you need to be. In 2012, Donald Trump opened a twin tower structure in Turkey under the brand name Trump Towers Istanbul. Sanjay Shah's Gift Combines Vision and Execution. Sanjay Shah: No, Im not, but I plan to soon. 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? What were some of your biggest takeaways because now, you have your own company, but I think that being able to work with such a massive player and understanding the dynamics and how they worked, Im sure that many of those lessons youve applied to how youve built and scale your own business. Sanjay Shah: Correct. : We have three distinct revenue streams. I didnt want to give up much equity. As a business owner that helps you, serves you, and it never hurts to be fluent with numbers. I was able to sell my services and sell my time. What were some of the early days like? Then that gave me the funding I needed to do what I wanted to do. A: It's the pinnacle of all properties in Chicago. Sanjay Shah: Yeah. Contact: Mr. Alex Dehnert Communications Manager Vistex, Inc. 2300 Barrington Road, Suite 550 Hoffman Estates, IL 60169 Phone: 847-490-0420 alex.dehnert@vistex.com SOURCE Vistex, Inc. That helped definitely. So without further ado, Id like to welcome our guest today to the show. You need to find cheerleaders in an organization such as SAP if you want to rely on them to be your go-to-market partner. Is that right? My advice is, dont follow any advice. I thought, Wow. I think Im a good listener over the years. : Very cool. Happy to be here. Also, remember, if you need any help whether it is with your fundraising efforts or with selling your business, you can reach me at [emailprotected]. Alejandro: Very cool. So General Motors in Canada was willing to wager a bet on me. 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. Thats how I was able to bootstrap. Tell us, after this presentation then you speak with your wife or with your family, and you still have to think about the idea of going at it. : Why did you decide to all of a sudden bring outsiders into the mix? Shah bought the 14,000-square-foot penthouse for $17 million and in 2017 is working to build out the space. : Then, all of a sudden, the idea of perhaps starting your own business starts to become more tangible and have more color. Those are the revenue streams for us. PHOTO VIA VISTEX. : What happened after that was because I was a very marketable resource at SAP, I helped start what is called the highest echelon of professional services at SAP. Sanjay Shah: It got me a chance to be on the shop floor and to see how things are built and put together. Hello everyone and welcome to the DealMakers show. So then what happens after you make the decision. Shah bought the 14,000-square-foot penthouse for $17 million and in 2017 is working to build out the space. And I lasted a full six months and decided that I didnt want to be a professional accountant. And if you got any value either from this episode or from the show itself, share it with a friend. : I hired people that had the technical skills to help me write the software. We didnt have any salespeople on board, so we were engineers doing all of the selling ourselves. : Yes. So, life was great. Sanjay Shah is a tech entrepreneur, Founder, CEO & Chief Architect of Vistex, making sure it all adds up for our customers. Different propositions, private equity being a different proposition as innovated. Yes, he owns a business software company, Vistex Inc ., which is estimated to be approaching $200 million in annual revenue. Fortunately, I had a view from the inside as well, having been one of the earliest employees of SAP. It turns out that it was a great time to liquidate my stock options because I did that in 99, just before the big crash following. Shah continues to lead the organization that helps global titans such as Apple, Walmart, 3M, Viacom, Intel, and Bayer improve revenue and margins. These are not quick sales. I got an MBA in finance. What worked for one person may not necessarily work for you. What does the future look like for Vistex? [Q&A: Beam Suntory CEO rides whiskey boom at home and abroad ], [Q&A: FCB Chicago ad agency CEO says big ideas still work on little screens ], [Q&A: Shinola looks to bring manufacturing back to the U.S., and stakes a claim in Chicago ]. I said to myself, If I work the first shift selling my services, then Ill be able to use that funding to develop what I need to develop on the second and third shift. Thats quite a significant amount of employees. Are you on Twitter or any other platforms? What attracted you to it? In 2004 he gave up his Kenyan passport and flew to the United Kingdom on a British Overseas citizen passport which permits temporary entry but not residence.He was then sent back to Kenya where he staged a 13-month protest, living in the international area of Nairobi airport between the departure lounges and the immigration desks. Its important to stay grounded and be a good listener. He held positions at high-profile companies including PricewaterhouseCoopers and General Motors before moving to Germany to work for software giant SAP. So I decided to explore. When you continue to deliver value for your customers, then they see it. Chicago tech has its first big funding round of 2019. What was the next thing that youve learned? Obviously, one step in the wrong direction can be fatal. So then what happens after you make the decision. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. I think getting the firsthand experience was critical. 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? But there are a lot of players out there. We have a relatively flat organization. For the people that are listening, Sanjay, what is the best way for them to reach out and say hi? Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. Sep 28, 2020 On June 26, 2012, Trumps sons Donald Jr and Eric were in the Philippines for the groundbreaking of the 150-million (P6.33 billion in 2012) Trump Tower Philippines, a 56-story residential building.. the trump tower is owned by Donald Trump hes a VERY rich dude hes old too Is Liam charmer a billionaire Yes he is and now he is a multi - billionaire. Lets just say that. : Again, finding the cheerleaders for you is a huge challenge. Constituency allowance Rs 18,000. So those are the challenges. I was fascinated and intrigued by the software. The whole business paradigm has changed as I described. Thats our vision. But there are a lot of players out there. I decided to come 10,000 miles away to go to business school. And overnight, they literally go belly-up. Sanjay Shah On Going From Zero To $250 Million In Revenue Without Taking Any Outside Investment. Sanjay D Shah Addresses. Alejandro: So originally, Sanjay, you were born in Mumbai, India. : Very nice. They want to outsource everything and just consume a service. So I ended up taking a job at Pricewaterhouse as a staff auditor right after I graduated from grad school. Sanjay Shah, founder and CEO of Vistex, is photographed Dec. 8, 2014 in the penthouse atop the Trump International Hotel and Tower he owns. Enterprise sales require a lot of persistence and a lot of fortitude to stay in the race for the longer term. How about if I move to the U.S. and develop it by myself, and if it works, you help me take it to market? So Im an entrepreneur by accident because if they had said, Yes, you can develop it even while youre in the U.S. I probably might still be with SAP. Alejandro: In this case, you guys were bootstrapping. Sanjay Shah: We have three distinct revenue streams. The movie won six Filmfare Awards and was critically acclaimed at the Austin . My first two hires are still with me and still with the company. Alejandro: What was essentially the idea so that people listening get it? CEO, and Chief Architect, Sanjay Shah, is the WINNER of the 2019 Ernst & Young (EY) Technology Entrepreneur of the Year Midwest Award. But even despite that, there are enough challenges when youre working with an organization the size of SAP. Right after Pricewaterhouse, you went to General Motors. 00:00:00 00:37:40. Exactly, especially if you intend to bootstrap, I think you have to have a good accounting streak in you. Home / Companies / News / Salaries increase for top mutual fund CEOs. Going back to what you were saying that you were bootstrapping this and doing a couple more shifts that you used to do, at what point do you say, Now, I can finally jump on this fulltime? Sanjay Shah: Thats a good question. The average being 2 1/2. Sanjay Shah is the founder and CEO of Vistex which is an enterprise software company, providing solutions to drive customer growth and partner relations. Expenditure allowance: Rs 4,000. Alejandro: Very cool. They were raised here. It has 360-degree views of the city. : In this case, you guys were bootstrapping. If you like the show, make sure that you hit that subscribe button. That has served us well. I think private equity can offer a lot of operational expertise and a lot of go-to-market expertise. Then that gave me the funding I needed to do what I wanted to do. They used to call it Platinum Consulting, where we go and help troubled SAP projects across the globe. 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. Those are the revenue streams for us. Get Contact Info for All Departments Vistex Org Chart Sanjay Shah Founder, Chief Executive Officer, and Chief Architect 6 6 Youve been with SAP for six years. Alejandro: How big was the business when you joined them? So weve been able to constantly grow, not just for a product footprint, but also our customer footprint as we continue to invest. I think that has been a bit of a challenge for us having built a business on licensing software and all the follow-on revenue that comes as a result of that has been a bit of a bump for us. There are many paths to progress and success. : No, Im not, but I plan to soon. : What have you learned about growth, Sanjay? Photo: Antonie Robertson/The National. Sanjay Shah left SAP to establish an entirely new category of enterprise software known as Go-to-Market programs designed to help businesses solve complex business problems. Alejandro: You brought this up to 250 million in revenue without taking any type of investors. : Of course, at General Motors, we were one of the first companies to use whats called MRP, material requirements planning. 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. We found a great partner in Excel KPR. : I was living in a form of a bubble. : So originally, Sanjay, you were born in Mumbai, India. So in having a degree in finance and having work experience in accounting is not exactly something that would draw potential employers for an operations position. I love Chicago and this property provided me the vantage point to take in the city. I was able to sell my services and sell my time. 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 come from a family of traders and accountants. If you can leave a review as well, that would be fantastic. : Thats interesting because you have, obviously, the school of thought of you sell it, and then you figure out how to build it and deliver. That is more than a fulltime job in and of itself. Antonie Robertson / The National The National Jun 03, 2022 Listen In English We were able to get into new industries and even upsell to our existing customers. Sanjay has been instrumental in creating an entirely new category of business software called "Go-to-Market" programs and has charted a visionary path for Vistex that transcends the "business as usual" mindset. Then slowly over the years expanded to other regions of the globe. Tell us, after this presentation then you speak with your wife or with your family, and you still have to think about the idea of going at it. So what kind of challenges were you guys dealing with? "We are excited to. : Absolutely, and well talk about your bootstrapping experience in just a bit. For more than 20 years, Sanjay Shah has led the company, a pioneer in transforming how organizations take their products and services to the marketplace through trade, channel and vendor programs, pricing, performance incentives and rights & royalties. 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. He funnelled his wealth into property across London, Hong Kong, Dubai and Tokyo, Shah said, amassing a portfolio that he put at about 70 million pounds. We provide the technology that helps customers take their products and services to the marketplace. So lets continue. They try to go after high-potential, high-growth, the mature organizations, and we fit the bill on that front. So quite an accomplishment. Sanjay Shah: Yes. Sanjay Shah: I hired people that had the technical skills to help me write the software. : To expand on the listening, before we go to the second one, on the listening, how do you, for example, like with employees or when youre going out to fundraise, what is the process of first in-taking the information and then being able to digest and react proactively about it? Alejandro: So here you are in 1999. Indeed. An Indian immigrant, Sanjay Shah bootstrap story began when he left Mumbai, India to attend Lehigh Universitys business school, earning his MBA in 1989 at the age of 21. He gets a salary of around 72 Thousand Rs. Alejandro: And in terms of enterprise sales, Sanjay, that you were eluding to, what are your biggest takeaways from enterprise sales because its a beast. Earlier on, I thought I knew how everything was supposed to work, and I had the recipe and the solutions to all of the companys problems. I believe that if anything, you should know that you should always learn to learn. His new book is titled Fares, Do Not Sell/Share My Personal Information. Sanjay Shah: So, she was a little consumed. I would like to describe it as a bit chaotic, but a very functional democracy. Plus it has very high ceilings, anywhere from 16 to 21 feet. 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. So again, working with SAP, such a gigantic organization has its set of challenges, and there have been several lessons learned. The program is a global series of events that celebrate visionary, dynamic founders and entrepreneurs that . What is private equity? Alejandro: Even though you didnt want to be a professional accountant, Im sure that having a good grasp on the numbers has made a difference for you. Alejandro: Very cool. 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