Would you mind expanding a bit more on that, Sanjay? What did you experience? The interview has been edited for length and clarity. It's very unique, not just in Chicago or in the U.S., but probably unique in the whole world in terms of how it's laid out. Thats the degree I had. 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. Business school in the U.S. is a draw for a lot of aspiration, and I succumbed to that draw if you will. 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. : 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. For Sanjay Shah, who made headlines for buying the Trump Tower penthouse in a record deal in Chicago in 2014, life has come a full circle. 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. Sanjay Shah: I was there for roughly two and a half years. Walk us through some of those days. They try to go after high-potential, high-growth, the mature organizations, and we fit the bill on that front. Person A said I should do this, and Person B said I should do this. 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. Sanjay Shah worked for software maker SAP for many years before launching his own software business in 1999, Hoffman Estates-based Vistex. : Yeah. Also, remember, if you need any help whether it is with your fundraising efforts or with selling your business, you can reach me at, Roman Rittweger On Starting His Business At 52 And Raising $100 Million To Disrupt The Health Insurance Industry, He Built Turo Into A $1 Billion Business And Now Is Investing In Startups That Make Humanity More Resilient, Shelby Clark On Building Turo Into A $1 Billion Business And Investing In Startups That Make Humanity More Resilient, Important Things To Look For In An Investment Contract, He Sold His Last Company For Millions And Now Raised $38 Million To Identify The Best Sperm With AI And Improve IVF Outcomes, Gurjeet Singh On Selling His Last Company For Millions And Now Raising $37 Million To Identify The Best Sperm With AI And Improve IVF Outcomes. For the people that are listening, Sanjay, what is the best way for them to reach out and say hi? A lot of our revenue also comes from upselling. Alejandro: Who were these people that you hired? There is no one path to success. 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. Till some months ago, few outside the business circles had heard of Chicago entrepreneur Sanjay Shah. : Wonderful. Constituency allowance Rs 18,000. 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. What was going on through your mind? We've always had a few ideas about what we want to do with the space, but we never really started anything in earnest. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. He was a pioneer and how he went to Congress and convinced them that they should rescue this American icon (Chrysler). What kind of teams do you need? View Sanjay Shah's profile on LinkedIn, the world's largest professional community. 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) . So in your case and in your journey because in entrepreneurship, theres no such thing as a straight line. As part of Vistexs corporate social responsibility initiatives. That is more than a fulltime job in and of itself. : How many employees do you guys have today, Sanjay? I didnt want to give up much equity. : Why did you go about bootstrapping rather than perhaps taking a look at financing the operation? : You guys were bootstrapping this. Then thats how we came to learn of SAP. With all this, the list was small, and we found a great partner who we signed up with. Dubai Police arrest hedge fund trader Sanjay Shah over $1.7bn Danish tax fraud case British financier previously denied charges and said he was working within Danish law British financier Sanjay Shah was arrested in Dubai by police with an international warrant. Per month for his designation as The Chief Minister of Delhi. That really has helped us grow because we started out with SAP North America first. What attracted you to it? So I decided to explore. So those are the challenges. [Laughter] Be a good listener. 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? What was the next thing that youve learned? Then slowly over the years expanded to other regions of the globe. Sanjay Shah Friday June 3 2022 Edit Shah charged that its steering is in the hands of AIMIM leader Asaduddin. About. Sanjay Shah saw a void in the ERP market. Alejandro: Really interesting here. Alejandro: How many employees do you guys have today, Sanjay? In fact, according to Trump&x27;s most recent . So I decided to explore. 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. Vistex also sells its applications to customers who aren't SAP customers. Brazil, South Africa, all countries in Western Europe, Asia, etc. When I decided to sever my ties with SAP, my wife was six-months pregnant with our second child. I wanted to give up a very small portion of it while drawing on their expertise. Right after Pricewaterhouse, you went to General Motors. These are not quick sales. I was an SAP loyalist. : Really interesting here. It's just some people came in a lot earlier than others. Everything was very hunky-dory. Part of the Storycuts series, this short story was originally published in the collection Little Black Book of Stories. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. Alejandro: And you went to Canada. As a self-made man, Sanjay Shah appreciates the importance of giving back. Q: When you bought the property, you said the build-out will take a year to 18 months and cost about $15 million. 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. I didnt want to give up much equity. Sanjay Shah Vistex.com is a company and has headquarters in Hoffman Estates, IL. 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. When I decided to sever my ties with SAP, my wife was six-months pregnant with our second child. But even despite that, there are enough challenges when youre working with an organization the size of SAP. Start Free People Search A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Directory of Profiled Business People: Sanjay Shah Sgrignuoli, Philip - Shahait, Mohammed > Shah, Ruskinarxon - Shah, Sayad > Shah, Sanit - Shah, Sanjaykumar > Shah, Sanjay 1-25 of 525 Contacts 1 That helped definitely. Alejandro: Very cool. We found a great partner in Excel KPR. I was enamored with him and was like, I wonder where he went to school? Get Contact Info for All Departments Vistex Org Chart Sanjay Shah Founder, Chief Executive Officer, and Chief Architect 6 6 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. Right after Pricewaterhouse, you went to General Motors. Our youngest just went off to college last month, we are empty-nesters now so there's motivation to finish it out. There are so many different stakeholders. : So, she was a little consumed. Q: Has the current political climate affected your feelings about the property? Sanjay Shah: Im happy to say that over the past 20 years of our existence, weve always grown every single year despite having been through two recessions. Sanjay Shah: So, she was a little consumed. What kind of teams do you need? Thats right. Once you have built a platform already, how do you accelerate growth versus venture capital is, Do you believe in my potential? These are not quick sales. And if you got any value either from this episode or from the show itself, share it with a friend. We have people all over the globe, Vistex employs all over the globe and selling in virtually every geography. A dark tale about the nature of stories themselves. Sanjay Shah: It got me a chance to be on the shop floor and to see how things are built and put together. So quite an accomplishment. Those are the revenue streams for us. Sanjay Shah '89 MBAtech entrepreneur, founder, CEO, and chief architect of international enterprise software giant, Vistexjoins us on this episode of Lehigh University's College of Business ilLUminate podcast. Oh, he went to Lehigh.. They were engineers. What did you experience? We want more growth, more customers, a larger solution footprint. 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. Who are you going to accept (as customers)? I was one of the spearheads of that. Then that gave me the funding I needed to do what I wanted to do. For 20 years, Vistex has achieved unprecedented year-over-year growth without outside funding. If you engineer good products and show value, then customers will come your way. You need a lot of focus and dedication and a lot of persistence. Growth is hard, [laughter] to say the least. So something struck me and I said, Well, I cant do it here. Please subscribe to unlock this content. : What have I learned about growth? How are you even going to sell it? The first type of software in supply chain that was the first of its kind back then. Listen to what everybody has to say. Vistex Hoffman Estates IL 60010, United States Get Sanjay's Email (it's Free) Takes 5 seconds to join, no credit card required. What type of selling skills do you need? We are trying to develop what I call a hybrid model. All of my family and extended family lived in a one-mile radius. 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. : Yes. Its long. What does the future look like for Vistex? There are so many different constituencies at SAP to find the right balance to bring all of these together for hem to cheer for you. : You brought this up to 250 million in revenue without taking any type of investors. Home / Companies / News / Salaries increase for top mutual fund CEOs. Chicago filmmaker Jennifer Reeder looks at the awards season nominees so far where did all the women go? 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. 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. Then PricewaterhouseCoopers. As I said, I was living in a bit of a bubble. So in your case and in your journey because in entrepreneurship, theres no such thing as a straight line. As I have grown both personally and professionally, there are a couple of important lessons. Are you on Twitter or any other platforms? Alejandro: So for the people that are listening . The whole business paradigm has changed as I described. Hello everyone and welcome to the DealMakers show. : The venture guys will probably come on in the very early stages, maybe in years 0 to 5, I would say. Listen to what everybody has to say. : Of course, at General Motors, we were one of the first companies to use whats called MRP, material requirements planning. Alejandro: All right, Sanjay. : I was living in a form of a bubble. You need a lot of patience as well when youre selling into the enterprise. You have these ideas and visions of growth, and then there is reality unless youre exceptionally fortunate. : Initially, for the first year, and a little over a year, it was just me by myself. Sanjay Shah: I think the advice I would give to my younger self is, dont follow any advice. All of my family and extended family lived in a one-mile radius. I think thats when I felt that we were onto something. : Very cool. In many instances, its like a 24-month sales cycle. There are many paths to progress and success. My first two hires are still with me and still with the company. Everybodys journey is unique, and everybodys circumstances are unique. Sanjay Shah in 2020. . 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. : Correct. It was a German software company that had been around for 20 years already by the time they came to North America. : Why did you decide to all of a sudden bring outsiders into the mix? In 2012, Donald Trump opened a twin tower structure in Turkey under the brand name Trump Towers Istanbul. How was the growth of revenue overtime during those years? Q: You could have built another magnificent property somewhere else. Never one to accept the status quo. 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. Theyve been around for many years, a very notable firm in the Valley, and a lot of successes to their name. So I ended up taking a job at Pricewaterhouse as a staff auditor right after I graduated from grad school. The estimated Net Worth of Sanjay C Shah is at least $11.9 Million dollars as of 7 June 2021. Thats quite a significant amount of employees. I think Im a good listener over the years. : Then, all of a sudden, the idea of perhaps starting your own business starts to become more tangible and have more color. The average being 2 1/2. Maybe I should trust A more than B, so I should do what A said. No. So something struck me and I said, Well, I cant do it here. 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. 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. 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. My world was within a one-mile radius. Not funding for everything, but it was an atypical path. So what kind of challenges were you guys dealing with? Alejandro: So here you are in 1999. : Some of it was a bit of craziness, I guess. Interesting. Sanjay Shah (born September 11, 1970 in London) is a Dubai-based British businessman. The company was bootstrapped to $250 million in revenue without outside investment. SAP was then making a foray into the U.S., into North America. But there was fun in that challenge as well. This is pretty cool. Thats how I ended up working for them. Plus it has very high ceilings, anywhere from 16 to 21 feet. Contact: Mr. Alex Dehnert Communications Manager Vistex, Inc. 2300 Barrington Road, Suite 550 Hoffman Estates, IL 60169 Phone: 847-490-0420 [email protected] SOURCE Vistex, Inc. Posted on December 3, 2020 by Sanjay Shah: Correct. I got an MBA in finance. Ellen Milligan , Donal Griffin and Karin Matussek 7 October, 2020 08:42 am IST We are trying to develop what I call a hybrid model. Perhaps it should be neither, and I should do what Sanjay said would work better. When you continue to deliver value for your customers, then they see it. They want to outsource everything and just consume a service. Sanjay Shah: Our first challenge was when the dotcom crash came up. Tell us about this. 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? It happens to be associated with the president now it wasnt planned that way, but that doesnt change my mind about finishing the place or eventually spending more time there. I think private equity can offer a lot of operational expertise and a lot of go-to-market expertise. That has been the biggest bump. London's High Court had previously dismissed a claim by Skat, Denmark's tax authority, to hear the case in the UK on the grounds it was . But the reality now is different. : So here you are in 1999. Spotlight Directory Sanjay Shah '89 MBA, Founder, CEO & Chief Architect, Vistex, Inc. Sanjay Shah is a tech entrepreneur, Founder, and CEO of enterprise software company Vistex. 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? You and your wife are aligned. He bought a 36-foot yacht for $500,000 in . : All right, Sanjay. Its also massively matrixed. And overnight, they literally go belly-up. Then there is annual maintenance tied with it. Brazil, South Africa, all countries in Western Europe, Asia, etc. Sanjay Shah is a Dubai-based British-Indian businessman and suspected tax fraudster.He founded Solo Capital, a hedge fund firm which closed in 2016, and the NGO Autism Rocks, which closed in 2020.. Shah is a prime suspect in a case regarding the Danish Government being allegedly defrauded of 12.7 billion DKK for (1.65 billion euros) between 2012 and 2015, part of the CumEx-Files involving . : 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 . Sanjay Shah (CEO, Vistex) talks about recasting their pitch after having grown to over 1,600 employees and 20+ years in the business. They used to call it Platinum Consulting, where we go and help troubled SAP projects across the globe. What worked for one person may not necessarily work for you. Vistex Asia-pacific Private Limited's Corporate Identification Number is (CIN) U72900MH2003PTC142888 and its registration number is 142888.Its Email address is [email protected] and its registered address is UNIT NO C R 12TH FLOORNIRMAL BLDG 241/42 BACKBAY RECLAMATION NARIMAN POINT MUMBAI MH 400021 IN . Sanjay, thank you so much for being on the DealMakers show today. 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. Used by founders around the world to raise millions below month, we are trying to develop I... Is more than B, so I should do what I call a hybrid model lot earlier than.! 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