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How do you define “legitimate”
While out on Facebook today I came across a picture that spoke a thousand words to me. It’s a picture that defines “legitimate” in Utah.
In case you can’t open the link this is a photo of Josh James and John Pestana at the NASDAQ on the day they took Omniture public. That’s legitimate. I stared at that picture for a couple of minutes and it invoked a lot of thought and emotion. Who else is legit in Utah?
How about Josh Coates who recently sold Mozy for a reported $76 million. He raised less than two million in venture capital. A couple of years ago he called out the Utah angel community and was wrongly raked over the coals for it. I wonder if he cares now?Â
That’s legitimate.
American Fork based Move Networks is building the coolest video delivery system on the Internet. Fox and ABC (to name a few) use Move’s system to deliver their shows online. They recently closed more than $40 million in venture capital.
That’s legitimate.
I have another friend here in Utah who runs one of the most successful lead generation businesses in the world. I won’t mention his name because he’s the kind of guy who avoids the spotlight and has just worked hard building a huge cash cow that employees hundreds of people.
That’s legitimate.Â
Jack Sunderlage came out of retirement to run Content Watch after a successful Fortune 500 career. He’s building one of the most promising companies in the state instead of spending his time on the golf course.Â
That’s legitimate.Â
Something else I noticed about the above mentioned people is that they don’t spend a lot of time self promoting. Heck, I don’t think any of the above mentioned people even has a blog. They spend (or have spent) their time building successful businesses that add value and employee lots of people. Somewhere in the process they also made a lot of money for themselves and others. Â
If you’re legitimate you don’t have to tell people. Your actions will speak louder than words.
Chris,
Sorry, but I found this a little late. I agree with your list, but it is way too short. I wonder why consider a CEO who repeatedly loses money at billion dollar companies legit or consider someone who raises millions in venture money (but never makes a profit) legit, but do not give credit to a small time entreprenuer who turns $300-400,000 in profit each year while treating employees fairly.
I think anyone who works harder than their employees and benefits the stock holders, the business, the community, etc., is legit. I would rather own 10% of a $5 million business that is profitable every year than 10% of a billion dollar business that cannot make a profit.
Left by Rand on 01/02/2008@Rand:
“…but do not give credit to a small time entreprenuer who turns $300-400,000 in profit each year while treating employees fairly.”
Who are you referring to? This list isn’t all inclusive.
Remember, there are tax incentives to not being profitable - although that may be a poor reason to some.
Left by Chris Knudsen on 01/14/2008