SM: We talked about the organization, pricing strategy and how to scope out the technology and market. Anything else? PC: The other principle I think is critical is to hire outstanding people. That is the absolute key; those are the people who are going to make it. You have to spend time recruiting the best people that exist. This is all important.
Then, after you hire them, you must train them. I believe in an extensive training program, teaching the new recruits knowledge of the technology, the products and the markets, we would put them through a several week training program for that and spent a lot of energy on that. We had a final exam in my office, and we would have about a dozen of the trainees. We actually flunked out a few people. Not a lot, because we were so careful in whom we hired, but a few flunked. Hiring the best people and keeping them is important. You have to offer proper stock option plans and salary to attract the best people.
So, you must have technology, market, people, and you must be devoted to the customer. It is not just a question of selling the product. You have to teach them how it works, you have to be there all the time, you have to flatter them, you have to know more about their business than they do. It is old fashioned selling along with great knowledge of the products and the business.