Sales is the Key to Building Large Companies, Says Veteran Executive Gary D. Kennedy

Kennedy addresses Utah executives at Utah Technology Council (UTC) breakfast event

SALT LAKE CITY – June 13, 2006 - "Revenue can cover a multitude of sins,” says Information Technology veteran Gary D. Kennedy. “With enough revenue, a company can always buy itself time. But if revenue falters, the company’s only remaining option is to execute perfectly.”

Kennedy shared his insights with high tech and life science industry executives at a Utah Technology Council (UTC) breakfast event in Salt Lake City this week.

Gary D. Kennedy was one of the first 10 professional employees of Oracle Corporation, serving in a variety of management positions including President of Oracle USA. Kennedy currently serves as officer and/or board chairman of numerous technology companies in Utah and elsewhere including his current position as president and CEO of Utah’s health informatics company RemedyMD.

In his remarks, Kennedy advised executives to use sales-centric principles to help their companies succeed.

“The most essential trait a CEO must possess is passion,” Kennedy says, “The ability to transfer one’s passion is most fully and successfully exhibited in sales.”

Kennedy noted that in his experience, every successful CEO is a consummate salesperson as well. He maintains that successful CEOs have a respect and even a reverence for sales. Using Larry Ellison, Oracle CEO, as an example, Kennedy noted, “Larry Ellison was always the best salesman at Oracle”.

In the early days Oracle suffered from a myriad of problems in late delivery and customer satisfaction, Kennedy noted, but the company’s best asset was its tremendous ability to sell. With sufficient revenue, the company was able to assuage its most egregious customer problems and buy itself the time to refine its longer term business plan.

Kennedy also advises companies to make the finding, hiring and compensation of top-notch salespeople one of their primary goals. He notes that approximately half of the salespeople he has ever hired are people he has sought out and hired away from other companies. In most cases they were not looking to change jobs. In selecting salespeople, he asks candidates to describe the characteristics they would look for in hiring other salespeople. He listens to their responses and looks for individuals who value intelligence, energy, and an eagerness to address tough challenges.

Kennedy counsels companies to focus most heavily on the value proposition they offer to customers. Companies should be able to move quickly past the question of “Would I be interested in this?” and on to “Yes, of course I’m interested, so how can you prove that it works?”

Finally, Kennedy advises all executives to ensure that they really believe in the products they’re selling, and are offering value propositions they can personally feel very passionate about. “If you don’t have passion about the product you’re currently selling, it’s an absolute sign that you should be somewhere else.”

For more information about upcoming UTC events, readers can visit www.utahtechcouncil.org.

About Utah Technology Council
As the premier professional organization for Utah's 3,700- plus technology companies, the Utah Technology Council (UTC) exists to form closer relationships with industry and community leaders, develop superior management talent, sharpen professional skills and help gain access to capital. For more information on UTC, please visit www.utahtechcouncil.org.

Agency Contact:
Cheryl Snapp Conner
Snapp Norris Group
T) 801 208-1100

UTC:
Richard Nelson
T) 801-568-3500

| 7/13/2006 3:23:03 PM | 0 Comments