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Most people strive to have one big successful run in their careers. Then, there are people like Bob Cramer, the subject of Inc. magazine's January cover story, who have had a string of hits at the helm of several companies. In "The Secret Life of a Serial CEO," writer David H. Freedman profiles a man who has "piloted six companies to big paydays," all by the age of 48. Freedman takes an interesting approach to the story by chronicling several meetings with Cramer from October 2006 to August 2007 as Cramer was plotting his next career move.
When Freedman met Cramer, Cramer had reached a point where he didn't have to work anymore, having amassed a fortune at his previous gigs--the last of which was at LiveVault, an online data-storage company that was acquired in December 2005 for $50 million. At the time, Cramer's phone was ringing off the hook with offers to take the reins of yet another startup, but he was in no hurry to make a decision. He wanted to do something fun and creative, something "with a little more poetry to it than offline storage or database software."
According to the article, Cramer found what he was looking for in a band-management startup called Nimbit and became its CEO. The company helps musicians manage their bands by coordinating multiple online services such as selling MP3s, CDs, merchandise, and concert tickets. But, as the article details, Nimbit failed to land VC money, despite Cramer's involvement. Nimbit got enough angel money to stay in operation, but Cramer is no longer the CEO.
Freedman writes: "'I fell in love with that company,' he [Cramer] suddenly says, as if it is an explanation of everything that has happened to him over the past nine months, as well as a declaration that it is behind him now, a sort of passing madness." But maybe it's just the law of averages--you can't keep having hits without an occasional miss. Cramer has since become CEO of Tervela, a data-messaging company, which Cramer describes as a "billion-dollar opportunity." In other words, a more certain home run.
Copyright © 2008 Donald W. Reynolds National Center for Business Journalism