Key achievements

• On a tight budget, built a complete team, technology, and product that is thriving five years later.

• Developed, deployed, and patented a pioneering solution to a well-known impediment to Internet services.

Lessons learned

I built a world-class Internet development team that, in just four months, built and deployed the world's first Internet-native Point-of-Sale system for retail use. In the process, we invented and filed for a patent that enables the reliable provision of mission-critical services via the Internet Application Service Provider (ASP) model. The company's pioneering technology was recognized with an achievement award at the 2001 Food Service Technology Conference.

Unfortunately, our timing was poor; we formed an Internet company seeking venture capital at the exact moment when such investments fell out of favor. When I was asked to take over as CEO in 2001, I faced a radically different entrepreneurial environment than I knew from First Virtual. Of necessity I learned a great deal about business economics and survival strategies. I sold a controlling interest in the company in 2002, and the company has slowly grown and flourished since then.