Greg Butterfield Discusses Keys to Company Success

Friday, May 01, 2009 12:00PM

SALT LAKE CITY, May 01, 2009 (BUSINESS WIRE) — Fifty percent of new companies fail within their first four years of business, according to Greg Butterfield, managing partner of mentor capital firm SageCreek Partners. Butterfield addressed a sell-out crowd of more than 300 Utah executives at the Seventh Annual Utah Innovations Awards event in Salt Lake City yesterday. Stoel Rives LLP and the Utah Technology Council (UTC) are co-presenting sponsors of the Innovations event that honored 9 winners among a record-setting 113 nominations this year. The event was sponsored by Issimo Productions and Webb Audio Visual Communication.

Utah stands out not only in the skill of our workforce, but in the fact that culturally, our executives are great people to work with,” Butterfield said.

He acknowledged that since his retirement from the position of Symantec Group President in 2008 and the launch of his new consulting firm SageCreek Partners, his team is recognizing more than ever that good technology in and of itself does not ensure business or market success.

More than 156,000 new technology products entered the market in 2005,” he noted. “A year later, only 30,000 of those products remained. To succeed, a company requires a strong and impactful business model to make the technology truly relevant for meeting customer needs.”

Butterfield provided a list of business plan guidelines that is also available from the SageCreek website. Key points include emphasis on the collective strength of the company’s executive team, not on its individual players. Butterfield also noted that strong leaders should be preparing for even stronger successors, and cited the quote by Ralph Waldo Emerson: “Every man I meet is my superior in some way, and in that I learn from him.”

“As the former Chairman of UTC, Greg Butterfield provided the early leadership that was critical in getting our industry in synch,” said Richard R. Nelson, president of UTC. “He has been truly instrumental in getting our current technology companies aligned.”

For a complete list of 2009 Utah Innovations Finalists and winners, readers can visit http://www.stoel.com/innovation/utah_media.asp.

For information on other UTC events, initiatives, or for UTC membership information, please contact Mark Lehnhof at (801) 568-3500.

About Utah Technology Council

Utah’s premier professional association, the Utah Technology Council, has become the essential business resource for life science and high-tech companies seeking to achieve greater success. At its core, UTC exists to foster the Growth of the state’s over 5,000 technology companies, ensure Utah develops the highest Quality Workforce in the nation, and attract an ever-increasing array of Funding. Members join UTC to share insights with industry peers, counsel with government and academic leaders, and receive help from professional service providers and funding resources. To become a member of this “must join” organization, visit www.utahtechcouncil.org or call 801-568-3500 today.

About SageCreek Partners

SageCreek Partners ( www.sagecreekpartners.com) is creating and driving a new category of service: Mentor Capital. Working as a companion to technology companies and their investment partners and boards, SageCreek Partners is comprised of renowned executives in both the U.S. and EMEA: Greg Butterfield, Dwain Kinghorn, Steve Erickson, Tracy Tolbert, Mark Bonham, Volker Wiora and Srinivasa “Venky” Venkataraman, who have led multiple technology companies from launch to industry leadership to successful exit. Instead of money, SageCreek provides the strategic guidance, the mentoring, and even the direct connections (to funding, key hires and merger and acquisition partners) to help emerging and growth companies succeed. For the price of a single executive hire, SageCreek Partners becomes the collective strategy resource for a company’s entire executive team. SageCreek has a proven track record in helping startup and growth companies succeed.

About Stoel Rives LLP

Stoel Rives is a business law firm providing counseling and litigation services to a wide range of clients throughout the United States. The firm has more than 350 attorneys operating out of 12 offices in eight states. Stoel Rives is regarded as a leader in corporate and intellectual property law, energy, natural resources, environmental, and litigation. For more information, visitwww.stoel.com

SOURCE: Utah Technology Council

Utah Technology Council
Judy Young, 801-568-3500
jyoung@utahtechcouncil.org
or
Snapp Conner Public Relations
Cheryl Snapp Conner
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cheryl@snappconner.com