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Irvine, CA
The
Challenge:
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Undifferentiated
software product competing with strong substitutes,
including in-house solutions and for-sale software
employing alternative methods to meet same need.
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Company was selling
product rather than solution, discounting its strategic
importance, and giving away installation and maintenance
services.
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Selling direct only.
No partners or reseller channel established.
The
Solution:
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Change company name,
to reflect true value proposition, and advertise to
executives rather than technical user prospects.
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Create Vision Industry
Partner (VIP) program and sign up 28 reseller partners
worldwide in less than two years.
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Partner with IBM
Global Services; sponsor 1996 Olympics in Atlanta using
software to power real-time scoring reports.
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Split software into
modules, to extract maximum value; increase sales price
from $30K average, to $100K.
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Create entry-level
feeder product based on flagship software.
The
Results:
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Increased annual
revenue from $6m to $28m in under 24 months, for a
CAGR of 215%.
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Named to Deloitte & Touche's
Fast 50 and Inc. 500 Fastest Growing Companies lists
four years in a row.
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Sold company for
$65m cash in 1999.
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