3Points, Inc. is an investment holding company based in Los Gatos, California. Mr. Krach co-founded Ariba (ARBA on NASDAQ) in 1996, serving as CEO for the first 5 years of Ariba's history and Chairman of the Board for 7 years. Under his leadership as CEO, Ariba not only pioneered B2B, but also grew rapidly to become the dominant global player in the ever-evolving business-to-business (B2B) e-commerce industry. During his tenure as CEO, Mr. Krach took Ariba public, ultimately achieving a market capitalization of $34 billion and becoming one of the fastest growing software companies in history. In honor of his accomplishments in e-business, Ernst & Young named Mr. Krach the 2000 National Entrepreneur of the Year, the same year in which he was honored at the World Economic Forum in Davos, Switzerland, with the Technology Pioneer Award.

With respect to building a successful company, Mr. Krach explained that although it may look easy, it isn’t. The three key factors, he explained, are (1) find the right opportunity, (2) hire great people, and (3) get everyone working as a team.

With respect to building a high performance management team, Mr. Krach used Ariba’s story as a case study. He explained that the key principles you have to follow are (1) set a clear direction, (2) create a safe environment, and (3) continue to raise the standard. To be able to adhere to these principles, Mr. Krach believes you have to establish clear team rules that everyone agrees to live by and be accountable for. These “team rules” are:

• Direct/open/honest communication,

• No idea is a dumb idea,

• Always continue to raise the standard at every level,

• We are a team first, functional specialists second, and

• Hire the best people, especially if better than us.

Mr. Krach also stressed that having high core values is of utmost importance with integrity being perhaps the most important core value.

In conclusion, Mr. Krach stated that company leaders should always remember the five leadership imperatives which include: (1) challenge the process, (2) inspire a shared vision, (3) enable others to act, (4) model the way, and (5) encourage the heart.

The next regular monthly Venture Club meeting will be held on January 8, 2008 at 11:15 a.m. at the offices of Barnes & Thornburg LLP located at 11 South Meridian Street, Indianapolis, Indiana 46204-3535.