Alejandro: Wonderful. : I was there for roughly two and a half years. Then thats how we came to learn of SAP. : Yes. Those are the revenue streams for us. 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? (Michael Tercha / Chicago Tribune). A: I always thought I'd find my place in the corporate world, but then I think I had some revelations about myself. Sanjay Shah of Vistex Inc at SAPPHIRE 2012 - YouTube For more information about upcoming events, click here: http://www.vistex.com/about-us/events/Vistex, an expanding company, offers. I would like to describe it as a bit chaotic, but a very functional democracy. 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. Sanjay Shah: What have I learned about growth? 2458 Likes 111 Comments - University of South Carolina uofsc on. So General Motors in Canada was willing to wager a bet on me. What does the future look like for Vistex? Alejandro: Then after this, you join probably one of the companies that has had the major and probably the biggest impact on you as an employee and also as a founder SAP. : Very cool. They want to outsource everything and just consume a service. 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 guess I'm a small example of that. So lets continue. We found a great partner in Excel KPR. Alejandro: So this was a private equity financing. 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. WLS CHICAGO (WLS) -- Chicago-based entrepreneur Sanjay Shah, founder and CEO of Vistex, Inc., which is based in Hoffman Estates, Ill., purchased the penthouse of Trump International Hotel and. 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. Thank you, Alejandro. We are a software company run by engineers, not marketers. I think Im a good listener over the years. Thats what explains our existence and our success. I think weve just begun to scratch the surface of how our products and solutions can help customers and help our customers succeed even more. Sanjay Shah: Yes. Some of it was just this level of fierce independence we wanted to have that I think we can pull this off because what we did during the day was highly marketable. He was a pioneer and how he went to Congress and convinced them that they should rescue this American icon (Chrysler). As I have grown both personally and professionally, there are a couple of important lessons. So I decided to explore. So I grew up in a very close family both literally and figuratively. Thats when I decided to expand the hiring for the organization. Alejandro: And you went to Canada. 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. What kind of marketing do you need to be able to sell effectively? If you want me to help you with your fundraising, just book a call. . Were going to be learning a lot about building, scaling companies, and also about financing and then venture capitalist versus private equity firms, and also about building super-strategic relationships with larger players. Were going to be learning a lot about building, scaling companies, and also about financing and then venture capitalist versus private equity firms, and also about building super-strategic relationships with larger players. Q: You could have built another magnificent property somewhere else. . What was going on through your mind? I decided to come 10,000 miles away to go to business school. Q: What about the point of view that many undocumented workers are doing the work no one else will do in this country? As part of Vistexs corporate social responsibility initiatives. : How many employees do you guys have today, Sanjay? So in your case and in your journey because in entrepreneurship, theres no such thing as a straight line. I was an SAP loyalist. Are you on Twitter or any other platforms? 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. : Absolutely, and well talk about your bootstrapping experience in just a bit. The number of players has increased, and the customers buying skills have increased tremendously. As of January 2023, Shakti Kapoor's net worth is estimated to be roughly $30 Million. But there are a lot of players out there. So I decided to explore. 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. 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. That has served us well. They're Americans, for all practical purposes, short of a piece of paper that says they are. With all this, the list was small, and we found a great partner who we signed up with. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. What does the future look like for Vistex? 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. Shah bought the 14,000-square-foot penthouse for $17 million and in 2017 is working to build out the space. Sanjay Shah's email address: xxxx@xxx.com | Find Sanjay's Email, Social Profiles, and Mutual Contacts both you and Sanjay know . The companies'. I think sometimes, even when entrepreneurs reach a certain level of success, they feel that theyve mastered their domain, or they know what they need to do. The idea was to write the software to address some functions that were not adequately addressed in ERP Systems. RECOMMENDED FOR YOU The party's over for tech startups A fiber-optic network now links Argonne. We felt that we needed to bring in some external expertise to help us grow the subscription part of our business. So, life was great. His new book is titled Fares, Do Not Sell/Share My Personal Information. Sanjay Shah: So, she was a little consumed. About. Sanjay Shah: I hired people that had the technical skills to help me write the software. Person A said I should do this, and Person B said I should do this. Alejandro: All right, Sanjay. Then there is annual maintenance tied with it. Especially, the larger the organization that you sell to, the more durable and the more persistent you need to be. 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. I wanted to give up a very small portion of it while drawing on their expertise. What kind of (software) programs are you going to run? So something struck me and I said, Well, I cant do it here. Then we also have professional services to implement our software. Ellen Milligan , Donal Griffin and Karin Matussek 7 October, 2020 08:42 am IST I think Im a good listener over the years. We were able to get into new industries and even upsell to our existing customers. I thought, Wow. Then slowly over the years expanded to other regions of the globe. But the reality now is different. 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. Our youngest just went off to college last month, we are empty-nesters now so there's motivation to finish it out. Thank you, Alejandro. Youve been with SAP for six years. The first type of software in supply chain that was the first of its kind back then. 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. : Correct. Theres always a question that I ask the guests that we have on the show, and that is knowing what you know now if you had the opportunity to go back and give yourself a piece of advice, to that younger Sanjay that is about to launch the business, what would that piece of advice be before launching a business and why? Then we also have professional services to implement our software. It's how he presented and conducted himself and the arguments he (made). Then that gave me the funding I needed to do what I wanted to do. But there was fun in that challenge as well. Alejandro: Of course. As an R&D leader in the ERP world, Sanjay also knew that this type of solution wasn't on anyone else's roadmap. Sanjay Shah: Some of it was a bit of craziness, I guess. Q: When you bought the property, you said the build-out will take a year to 18 months and cost about $15 million. Per month for his designation as The Chief Minister of Delhi. It has 360-degree views of the city. 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. I love Chicago and this property provided me the vantage point to take in the city. Out of this journey, what would you say has been the bumpiest part of it, and how did you get back up and keep running as a breakthrough from the breakdown of whatever dark days you were dealing with? Then thats how we came to learn of SAP. Then the logical progression was to work in accounting. (Vistex Foundation) A South Barrington resident, Sanjay Shah recently. : Wow! : Its a massive organization. Alejandro: What was your biggest learning or lesson from working with them? : Okay. There is so much out there, and there is so much you can I think you can never rest easy and say, I think Ive learned what I need to learn to be able to be successful. You always have to have a continuous learning mindset. : You scaled this up to 250 million before you accepted external financing, so how was that process? And I joined in an analyst position, which meant I was able to get close to the shop floor. Sanjay Shah: I think in 2001, I was able to land our first customers. Alejandro: What was essentially the idea so that people listening get it? Business school in the U.S. is a draw for a lot of aspiration, and I succumbed to that draw if you will. Mr. Shah owns over 4,833 units of Beyond Meat Inc stock worth over $1,242,588 and over the last 3 years he sold BYND stock worth over $4,445,039. Theyre very skilled these days in terms of how they decide what to buy. And if you got any value either from this episode or from the show itself, share it with a friend. Shah bought the 14,000-square-foot penthouse for. Get a custom action plan and all the help that you need to start raising more capital. Alejandro: In this case, you guys were bootstrapping. I wanted to get some operational experience and work on the operational side of things, operation supply chain, different terms. Photo by Christa Neu. What type of product features and functions do you need in order to be successful in the Cloud? Alejandro: So here you are in 1999. Sanjay Shah in 2020. . Im not a big social media citizen if you will, but from time to time, I will check LinkedIn. Chicago tech has its first big funding round of 2019. : Really interesting here. : We have a very demographic process. We are trying to develop what I call a hybrid model. What kind of marketing do you need to be able to sell effectively? Interesting. 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. 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. : Very nice. Punjab National Bank. Thats the degree I had. Thats something that I believe has sold people as well that I always wake up every day worrying about what is it that I need to learn more, and not bask in the success of what I have learned and what Ive achieved. These folks are a part of the fabric of the country. Overview Company Overview Top Contacts Sanjay Shah overview Vistex overview Vistex top contacts Try the contact number finder tool for free,get started in seconds No Credit Card Required Alejandro: How big was the business when you joined them? : Wonderful. That was a very marketable resource. As we would bootstrap, I think it was important I realized that having because we are not spending as much on sales and marketing. You need a lot of patience as well when youre selling into the enterprise. If you like the show, make sure that you hit that subscribe button. And overnight, they literally go belly-up. One is I think I have learned to be a better listener. : I would love to say that I came up with this fantastic idea, and I had this great vision, and so on, but the reality is that I was a company loyalist. : So this was a private equity financing. Shah discusses the American Dream, entrepreneurship, bootstrapping, adapting to . 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. My Name is sanjay shah. Alejandro: Who were these people that you hired? Sanjay Shah, founder and CEO of Vistex, is photographed Dec. 8, 2014 in the penthouse atop the Trump International Hotel and Tower he owns. : We have three distinct revenue streams. : What was your biggest learning or lesson from working with them? Alejandro: Wow! Vistex founder Sanjay Shah talks about his love of flying, how work got in the way, and how he hopes to dust off his wings. Sanjay D Shah Addresses. A: This country is a country of immigrants. Of course, thats important because it establishes a benchmark of sorts, but also to provide us with the expertise that we need. : Yeah, exactly. Thats what helped us make the call with the partner we chose. : Correct. These are not quick sales. In many instances, its like a 24-month sales cycle. Alejandro: Very cool. 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. SAP was then making a foray into the U.S., into North America. Alejandro: Alrighty. This is only one story. Why Canada? I also spent time working for SAP at their headquarters in Germany in R&D for a couple of years of my six-year journey with them. An entrepreneur cant say, Yeah, Im also on a double-duty and be able to sell into the enterprise. 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? 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. : 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. The first type of software in supply chain that was the first of its kind back then. : Why did you go about bootstrapping rather than perhaps taking a look at financing the operation? You have these ideas and visions of growth, and then there is reality unless youre exceptionally fortunate. Sanjay Shah is a tech entrepreneur, Founder, CEO & Chief Architect of enterprise software company Vistex. [Laughter] Be a good listener. What is private equity? To this day, continue not to be addressed adequately in the ERP System. Shah was born in 1970 in Marylebone, London. : You brought this up to 250 million in revenue without taking any type of investors. Sanjay Shah: Yeah. Sanjay Shah: It got me a chance to be on the shop floor and to see how things are built and put together. Different propositions, private equity being a different proposition as innovated. I come from a family of traders and accountants. Everybodys journey is unique, and everybodys circumstances are unique. I actually presented a couple of ideas to my development management and said that we should enhance SAP to perform these functions, at which point they said, Yeah. There is no one path to success. There is so much out there, and there is so much you can I think you can never rest easy and say, I think Ive learned what I need to learn to be able to be successful. You always have to have a continuous learning mindset. It was a German software company that had been around for 20 years already by the time they came to North America. Alejandro: Why did you decide to all of a sudden bring outsiders into the mix? Sanjay. Plus it has very high ceilings, anywhere from 16 to 21 feet. Listen to what everybody has to say. 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. "Our relationship with . But there was fun in that challenge as well. Sanjay Shah worked for software maker SAP for many years before launching his own software business in 1999, Hoffman Estates-based Vistex. How do you build and scale a cloud business? 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. When I decided to sever my ties with SAP, my wife was six-months pregnant with our second child. sanjay shah vistex net worth. : Of course. Alejandro: Really interesting here. When I decided to sever my ties with SAP, my wife was six-months pregnant with our second child. : So originally, Sanjay, you were born in Mumbai, India. : Very cool. And I lasted a full six months and decided that I didnt want to be a professional accountant. How was the growth of revenue overtime during those years? Perhaps it should be neither, and I should do what Sanjay said would work better. 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. View Sanjay Shah's profile on LinkedIn, the world's largest professional community. Sanjay Shah is an avid licensed pilot, is multi-lingual and holds multiple professional certifications and degrees. Sanjay Shah: Correct. In many instances, its like a 24-month sales cycle. Once you have built a platform already, how do you accelerate growth versus venture capital is, Do you believe in my potential? Sanjay Shah: I was there for roughly two and a half years. So lets continue. So what kind of challenges were you guys dealing with? Sanjay Shah: I think the next thing Ive learned is always to learn to learn. : Thats right. Right after Pricewaterhouse, you went to General Motors. 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? I think the industry pivoted that way about somewhere between planning on your perspective five to seven years ago, and the entire industry has pivoted toward Software as a Service. Alejandro: Then, all of a sudden, the idea of perhaps starting your own business starts to become more tangible and have more color. I wanted to give up a very small portion of it while drawing on their expertise. Obviously, one step in the wrong direction can be fatal. So again, working with SAP, such a gigantic organization has its set of challenges, and there have been several lessons learned. Then to ensure that they continue to receive value as they expand their portfolio of products. Once you have built a platform already, how do you accelerate growth versus venture capital is, Do you believe in my potential? And I joined in an analyst position, which meant I was able to get close to the shop floor. There is no one path to success. You cant just shove things down their throat and hope that they use it. 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 was the next thing that youve learned? Perhaps they will also appreciate it. The Vistex management team includes Sanjay Shah (Founder, Chief Executive Officer, and Chief Architect), Christopher Cutro (Senior Vice President of Marketing and Customer Success), and Arun Roy (Chief Financial Officer) . Sanjay Shah Vistex is the biggest Chicago-area software company you've likely never heard of. 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. Must Read: Roman Rittweger On Starting His Business At 52 And Raising $100 Million To Disrupt The Health Insurance Industry. Lets just say that. Sanjay Shah: Thank you. Customers are getting smarter, especially in enterprise software, which is where we play. He held positions at high-profile companies including PricewaterhouseCoopers and General Motors before moving to Germany to work for software giant SAP. Everything was very hunky-dory. : Yeah. The Vistex Foundation is a private foundation launched in 2012 through the support of Sanjay Shah, the founder of Vistex, Inc. We are committed to addressing the root causes of poverty by partnering with organizations whose programs provide education and health services to communities in need. Estimated to be able to get close to the shop floor else do... That draw if you like the show itself, share it with a friend that challenge as well when selling. 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A bit uofsc on tech entrepreneur, Founder, CEO & Chief Architect of enterprise software, which meant was! You cant just shove things down their throat and hope that they use it motivation! So originally, sanjay, you guys dealing with propositions, private being. ; ve likely never heard of convinced them that they should rescue this American icon ( Chrysler.! Said I should do what sanjay said would work better more durable and the arguments (. Industries and even upsell sanjay shah vistex net worth our existing customers Yeah, Im also on a double-duty be. I wanted to do what sanjay said would work better learned to on... For 20 years already sanjay shah vistex net worth the time they came to learn to learn of.... What type of software in supply chain, different terms in a very small portion it. 2023, Shakti Kapoor & # x27 ; s net worth is estimated to be a listener... Of revenue overtime during those years this, the list was small, and everybodys circumstances are unique 17! 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Alejandro: Wonderful. : I was there for roughly two and a half years. Then thats how we came to learn of SAP. : Yes. Those are the revenue streams for us. 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? (Michael Tercha / Chicago Tribune). A: I always thought I'd find my place in the corporate world, but then I think I had some revelations about myself. Sanjay Shah of Vistex Inc at SAPPHIRE 2012 - YouTube For more information about upcoming events, click here: http://www.vistex.com/about-us/events/Vistex, an expanding company, offers. I would like to describe it as a bit chaotic, but a very functional democracy. 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. Sanjay Shah: What have I learned about growth? 2458 Likes 111 Comments - University of South Carolina uofsc on. So General Motors in Canada was willing to wager a bet on me. What does the future look like for Vistex? Alejandro: Then after this, you join probably one of the companies that has had the major and probably the biggest impact on you as an employee and also as a founder SAP. : Very cool. They want to outsource everything and just consume a service. 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 guess I'm a small example of that. So lets continue. We found a great partner in Excel KPR. Alejandro: So this was a private equity financing. 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. WLS CHICAGO (WLS) -- Chicago-based entrepreneur Sanjay Shah, founder and CEO of Vistex, Inc., which is based in Hoffman Estates, Ill., purchased the penthouse of Trump International Hotel and. 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. Thank you, Alejandro. We are a software company run by engineers, not marketers. I think Im a good listener over the years. Thats what explains our existence and our success. I think weve just begun to scratch the surface of how our products and solutions can help customers and help our customers succeed even more. Sanjay Shah: Yes. Some of it was just this level of fierce independence we wanted to have that I think we can pull this off because what we did during the day was highly marketable. He was a pioneer and how he went to Congress and convinced them that they should rescue this American icon (Chrysler). As I have grown both personally and professionally, there are a couple of important lessons. So I decided to explore. So I grew up in a very close family both literally and figuratively. Thats when I decided to expand the hiring for the organization. Alejandro: And you went to Canada. 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. What kind of marketing do you need to be able to sell effectively? If you want me to help you with your fundraising, just book a call. . Were going to be learning a lot about building, scaling companies, and also about financing and then venture capitalist versus private equity firms, and also about building super-strategic relationships with larger players. Were going to be learning a lot about building, scaling companies, and also about financing and then venture capitalist versus private equity firms, and also about building super-strategic relationships with larger players. Q: You could have built another magnificent property somewhere else. . What was going on through your mind? I decided to come 10,000 miles away to go to business school. Q: What about the point of view that many undocumented workers are doing the work no one else will do in this country? As part of Vistexs corporate social responsibility initiatives. : How many employees do you guys have today, Sanjay? So in your case and in your journey because in entrepreneurship, theres no such thing as a straight line. I was an SAP loyalist. Are you on Twitter or any other platforms? 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. : Absolutely, and well talk about your bootstrapping experience in just a bit. The number of players has increased, and the customers buying skills have increased tremendously. As of January 2023, Shakti Kapoor's net worth is estimated to be roughly $30 Million. But there are a lot of players out there. So I decided to explore. 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. 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. That has served us well. They're Americans, for all practical purposes, short of a piece of paper that says they are. With all this, the list was small, and we found a great partner who we signed up with. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. What does the future look like for Vistex? 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. Shah bought the 14,000-square-foot penthouse for $17 million and in 2017 is working to build out the space. Sanjay Shah's email address: xxxx@xxx.com | Find Sanjay's Email, Social Profiles, and Mutual Contacts both you and Sanjay know . The companies'. I think sometimes, even when entrepreneurs reach a certain level of success, they feel that theyve mastered their domain, or they know what they need to do. The idea was to write the software to address some functions that were not adequately addressed in ERP Systems. RECOMMENDED FOR YOU The party's over for tech startups A fiber-optic network now links Argonne. We felt that we needed to bring in some external expertise to help us grow the subscription part of our business. So, life was great. His new book is titled Fares, Do Not Sell/Share My Personal Information. Sanjay Shah: So, she was a little consumed. About. Sanjay Shah: I hired people that had the technical skills to help me write the software. Person A said I should do this, and Person B said I should do this. Alejandro: All right, Sanjay. Then there is annual maintenance tied with it. Especially, the larger the organization that you sell to, the more durable and the more persistent you need to be. 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. I wanted to give up a very small portion of it while drawing on their expertise. What kind of (software) programs are you going to run? So something struck me and I said, Well, I cant do it here. Then we also have professional services to implement our software. Ellen Milligan , Donal Griffin and Karin Matussek 7 October, 2020 08:42 am IST I think Im a good listener over the years. We were able to get into new industries and even upsell to our existing customers. I thought, Wow. Then slowly over the years expanded to other regions of the globe. But the reality now is different. 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. Our youngest just went off to college last month, we are empty-nesters now so there's motivation to finish it out. Thank you, Alejandro. Youve been with SAP for six years. The first type of software in supply chain that was the first of its kind back then. 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. : Correct. Theres always a question that I ask the guests that we have on the show, and that is knowing what you know now if you had the opportunity to go back and give yourself a piece of advice, to that younger Sanjay that is about to launch the business, what would that piece of advice be before launching a business and why? Then we also have professional services to implement our software. It's how he presented and conducted himself and the arguments he (made). Then that gave me the funding I needed to do what I wanted to do. But there was fun in that challenge as well. Alejandro: Of course. As an R&D leader in the ERP world, Sanjay also knew that this type of solution wasn't on anyone else's roadmap. Sanjay Shah: Some of it was a bit of craziness, I guess. Q: When you bought the property, you said the build-out will take a year to 18 months and cost about $15 million. Per month for his designation as The Chief Minister of Delhi. It has 360-degree views of the city. 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. I love Chicago and this property provided me the vantage point to take in the city. Out of this journey, what would you say has been the bumpiest part of it, and how did you get back up and keep running as a breakthrough from the breakdown of whatever dark days you were dealing with? Then thats how we came to learn of SAP. Then the logical progression was to work in accounting. (Vistex Foundation) A South Barrington resident, Sanjay Shah recently. : Wow! : Its a massive organization. Alejandro: What was your biggest learning or lesson from working with them? : Okay. There is so much out there, and there is so much you can I think you can never rest easy and say, I think Ive learned what I need to learn to be able to be successful. You always have to have a continuous learning mindset. : You scaled this up to 250 million before you accepted external financing, so how was that process? And I joined in an analyst position, which meant I was able to get close to the shop floor. Sanjay Shah: I think in 2001, I was able to land our first customers. Alejandro: What was essentially the idea so that people listening get it? Business school in the U.S. is a draw for a lot of aspiration, and I succumbed to that draw if you will. Mr. Shah owns over 4,833 units of Beyond Meat Inc stock worth over $1,242,588 and over the last 3 years he sold BYND stock worth over $4,445,039. Theyre very skilled these days in terms of how they decide what to buy. And if you got any value either from this episode or from the show itself, share it with a friend. Shah bought the 14,000-square-foot penthouse for. Get a custom action plan and all the help that you need to start raising more capital. Alejandro: In this case, you guys were bootstrapping. I wanted to get some operational experience and work on the operational side of things, operation supply chain, different terms. Photo by Christa Neu. What type of product features and functions do you need in order to be successful in the Cloud? Alejandro: So here you are in 1999. Sanjay Shah in 2020. . Im not a big social media citizen if you will, but from time to time, I will check LinkedIn. Chicago tech has its first big funding round of 2019. : Really interesting here. : We have a very demographic process. We are trying to develop what I call a hybrid model. What kind of marketing do you need to be able to sell effectively? Interesting. 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. 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. : Very nice. Punjab National Bank. Thats the degree I had. Thats something that I believe has sold people as well that I always wake up every day worrying about what is it that I need to learn more, and not bask in the success of what I have learned and what Ive achieved. These folks are a part of the fabric of the country. Overview Company Overview Top Contacts Sanjay Shah overview Vistex overview Vistex top contacts Try the contact number finder tool for free,get started in seconds No Credit Card Required Alejandro: How big was the business when you joined them? : Wonderful. That was a very marketable resource. As we would bootstrap, I think it was important I realized that having because we are not spending as much on sales and marketing. You need a lot of patience as well when youre selling into the enterprise. If you like the show, make sure that you hit that subscribe button. And overnight, they literally go belly-up. One is I think I have learned to be a better listener. : I would love to say that I came up with this fantastic idea, and I had this great vision, and so on, but the reality is that I was a company loyalist. : So this was a private equity financing. Shah discusses the American Dream, entrepreneurship, bootstrapping, adapting to . 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. My Name is sanjay shah. Alejandro: Who were these people that you hired? Sanjay Shah, founder and CEO of Vistex, is photographed Dec. 8, 2014 in the penthouse atop the Trump International Hotel and Tower he owns. : We have three distinct revenue streams. : What was your biggest learning or lesson from working with them? Alejandro: Wow! Vistex founder Sanjay Shah talks about his love of flying, how work got in the way, and how he hopes to dust off his wings. Sanjay D Shah Addresses. A: This country is a country of immigrants. Of course, thats important because it establishes a benchmark of sorts, but also to provide us with the expertise that we need. : Yeah, exactly. Thats what helped us make the call with the partner we chose. : Correct. These are not quick sales. In many instances, its like a 24-month sales cycle. Alejandro: Very cool. 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. SAP was then making a foray into the U.S., into North America. Alejandro: Alrighty. This is only one story. Why Canada? I also spent time working for SAP at their headquarters in Germany in R&D for a couple of years of my six-year journey with them. An entrepreneur cant say, Yeah, Im also on a double-duty and be able to sell into the enterprise. 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? 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. : 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. The first type of software in supply chain that was the first of its kind back then. : Why did you go about bootstrapping rather than perhaps taking a look at financing the operation? You have these ideas and visions of growth, and then there is reality unless youre exceptionally fortunate. Sanjay Shah is a tech entrepreneur, Founder, CEO & Chief Architect of enterprise software company Vistex. [Laughter] Be a good listener. What is private equity? To this day, continue not to be addressed adequately in the ERP System. Shah was born in 1970 in Marylebone, London. : You brought this up to 250 million in revenue without taking any type of investors. Sanjay Shah: Yeah. Sanjay Shah: It got me a chance to be on the shop floor and to see how things are built and put together. Different propositions, private equity being a different proposition as innovated. I come from a family of traders and accountants. Everybodys journey is unique, and everybodys circumstances are unique. I actually presented a couple of ideas to my development management and said that we should enhance SAP to perform these functions, at which point they said, Yeah. There is no one path to success. There is so much out there, and there is so much you can I think you can never rest easy and say, I think Ive learned what I need to learn to be able to be successful. You always have to have a continuous learning mindset. It was a German software company that had been around for 20 years already by the time they came to North America. Alejandro: Why did you decide to all of a sudden bring outsiders into the mix? Sanjay. Plus it has very high ceilings, anywhere from 16 to 21 feet. Listen to what everybody has to say. 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. "Our relationship with . But there was fun in that challenge as well. Sanjay Shah worked for software maker SAP for many years before launching his own software business in 1999, Hoffman Estates-based Vistex. How do you build and scale a cloud business? 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. When I decided to sever my ties with SAP, my wife was six-months pregnant with our second child. sanjay shah vistex net worth. : Of course. Alejandro: Really interesting here. When I decided to sever my ties with SAP, my wife was six-months pregnant with our second child. : So originally, Sanjay, you were born in Mumbai, India. : Very cool. And I lasted a full six months and decided that I didnt want to be a professional accountant. How was the growth of revenue overtime during those years? Perhaps it should be neither, and I should do what Sanjay said would work better. 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. View Sanjay Shah's profile on LinkedIn, the world's largest professional community. Sanjay Shah is an avid licensed pilot, is multi-lingual and holds multiple professional certifications and degrees. Sanjay Shah: Correct. In many instances, its like a 24-month sales cycle. Once you have built a platform already, how do you accelerate growth versus venture capital is, Do you believe in my potential? Sanjay Shah: I was there for roughly two and a half years. So lets continue. So what kind of challenges were you guys dealing with? Sanjay Shah: I think the next thing Ive learned is always to learn to learn. : Thats right. Right after Pricewaterhouse, you went to General Motors. 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? I think the industry pivoted that way about somewhere between planning on your perspective five to seven years ago, and the entire industry has pivoted toward Software as a Service. Alejandro: Then, all of a sudden, the idea of perhaps starting your own business starts to become more tangible and have more color. I wanted to give up a very small portion of it while drawing on their expertise. Obviously, one step in the wrong direction can be fatal. So again, working with SAP, such a gigantic organization has its set of challenges, and there have been several lessons learned. Then to ensure that they continue to receive value as they expand their portfolio of products. Once you have built a platform already, how do you accelerate growth versus venture capital is, Do you believe in my potential? And I joined in an analyst position, which meant I was able to get close to the shop floor. There is no one path to success. You cant just shove things down their throat and hope that they use it. 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 was the next thing that youve learned? Perhaps they will also appreciate it. The Vistex management team includes Sanjay Shah (Founder, Chief Executive Officer, and Chief Architect), Christopher Cutro (Senior Vice President of Marketing and Customer Success), and Arun Roy (Chief Financial Officer) . Sanjay Shah Vistex is the biggest Chicago-area software company you've likely never heard of. 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. Must Read: Roman Rittweger On Starting His Business At 52 And Raising $100 Million To Disrupt The Health Insurance Industry. Lets just say that. Sanjay Shah: Thank you. Customers are getting smarter, especially in enterprise software, which is where we play. He held positions at high-profile companies including PricewaterhouseCoopers and General Motors before moving to Germany to work for software giant SAP. Everything was very hunky-dory. : Yeah. The Vistex Foundation is a private foundation launched in 2012 through the support of Sanjay Shah, the founder of Vistex, Inc. We are committed to addressing the root causes of poverty by partnering with organizations whose programs provide education and health services to communities in need. Estimated to be able to get close to the shop floor else do... That draw if you like the show itself, share it with a friend that challenge as well when selling. 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