Devolution doesn’t mean “opposite of evolution.” It’s actually a much more interesting and complex concept that business people better understand right now. The truth is devolution is the process of transferring power from a central government to local units. >>>
SM: What came after Brightwork /McAfee?
GG: I ‘retired’ to Bozeman, Montana in 1995. I used to vacation in Montana when I was a kid. I did some backpacking trips there. I decided to retire there because I thought it would be a good place to raise my family. >>>
SM: What were your revenues at Brightwork?
GG: Ultimately it grew to $10 million a year in revenues.
SM: What are some nuggets of knowledge you took away from Brightwork?
GG: Brightwork was my first entrepreneurial endeavor and I had a steep learning curve. >>>
We have just started publishing The Montana Mogul, an interview with RightNow CEO Greg Gianforte, who has bootstrapped an over $100-million-a-year public company headquartered in Bozeman, Montana. >>>
Greg is a serial entrepreneur and author of Bootstrapping Your Business. He was awarded the 2003 Ernst and Young Entrepreneur of the Year. His current company, RightNow, was founded in 1998, had an IPO in 2004, and has passed $100 million in revenue.
SM: To start, let’s talk about your background.
GG: I am an engineer. My undergraduate degree is in electrical engineering and my masters degree is in computer science. >>>
SM: Did you enter the competency arena organically or through acquisitions?
KP: We moved into the competency area by acquiring some libraries. The ITG Competency Group library is, in our view, the largest standalone productized library of competencies. >>>
In the recap mode, here’s a list of the top 20 serial entrepreneurs I have spoken with:
* Philippe Courtot – a very young 63-year old CEO of Qualys. >>>
SM: What are you using your IPO proceeds for?
KP: We continue to favor a philosophy of growth with internally generated cash. We are using IPO proceeds mostly to acquire small companies that are good strategic fits with our product line. I am probably one of the few people you talk to who thinks going public is great. >>>