I am searching for my next opportunity. I will use this site to record my plans, my findings and ideas.
Here is my current plan:
After investing in and leading SkillSurvey for the last 15 months, I am beginning my search for my next venture. When I joined SkillSurvey, we could not afford to pay salaries to ½ of the team and we were supported for 4 months by my capital infusion of $100K. We were able to raise $2.4 million in funding, build a team, rewrite the product to ensure scalability, launch the solution on the market, grow the revenue 4X, double the subscriber base and build a marquee list of market leading partners: Taleo in Talent Management, Hewitt in Human Resource Outsourcing, Verifications in background screening and many others.
Having made this progress, I came to believe that we could grow faster if we had someone leading the company that had previous success selling into the HCM/Talent Management Space. We have made the transition and I am now serving as a board member and advisor.
So, what am I going to do next?
Find an exciting, executive level opportunity with a high growth technology company in the Philadelphia area where I can channel my energy, knowledge and skills.
There are not enough startups flowing through this area for me to limit my search to CEO positions, unless I start something myself. However, I don’t have the patience to start from scratch again. Therefore, I am looking for a business that has made some progress:
- Have a live Product
- Have revenue generating customers
- Need Leadership help
- $100K in revenue to $100 million in revenue
- Role: CEO, COO, VP Services, VP Sales/Marketing, VP Biz Dev, just not a CFO
- Industry – not that big of an issue, although I prefer business applications over pure technology or consumer plays.
I have really enjoyed working in an company with a niche solution, an ASP delivery model, recurring revenue stream, easy to “try”, low price entry point and automating something that was previously done manually. This formula has always interested me.
So, there you have it.
In 2005, I investigated 43 deals in detail (after screening over 100) to settle on SkillSurvey, so I am sure I will need to add a lot of opportunities to my evaluation pipeline.
Any suggestions would be greatly appreciated.