Bernard Liautaud, founder of Business Objects, shares his story and explains how he went through ups and downs while building a company eventually sold to SAP for $6.8b. It’s always useful when an entrepreneur is transparent about his struggles. There is much to learn in hard times.
“[Business Objects] market value went from USD150 million to USD1 billion in two years, but after a botched product launch in 1996, it collapsed to less than USD100 million. ‘We moved the business to California, changed half the management team, introduced new products and slowly rebuilt our credibility with investors and customers. We returned to profit and the share price rose from USD3 to USD300 in two and a half years as sales climbed to USD1.5 billion.”