Steele goes back to his entrepreneurial roots

December 13, 2000
LocalBusiness.com

One of the tech community's networking kings has landed a new job, but promises to remain a fixture on the city's social scene.

ATLANTA, Dec. 13 (LocalBusiness.com) -- Ricky Steele is a well-known name in Atlanta's technology community and a familiar smiling face at almost every networking event in the city.

The networking king, who has been drumming up business for PricewaterhouseCoopers for the past two years, is moving on to a new venture next week at Korn Ferry International.

After building a string of four businesses that were eventually either sold or acquired, Steele, 48, was introduced to the technology community when he joined his younger brother Robert's software company in 1994. Although the company disappeared in 1997, Steele was hooked on technology and already immersed in the scene.

From 1997 until he joined PricewaterhouseCoopers in 1999, Steele worked as a consultant. He was hired by the Business and Technology Alliance (BETA) in 1998 by then-president Kent Antley to study the state's three primary technology associations: BETA, Women in Technology (WIT) and the Southeast Software Association.

Steele interviewed key industry leaders and put together a report recommending that a new technology association be formed to encompass the three separate groups and hopefully give them more clout in the industry.

That combined association, of which Steele helped author the original business plan, is now known as the Technology Association of Georgia (TAG).

Steele then worked as a consultant for ComStar until a headhunter contacted him in September 1998 about a position with PWC. Steele joined the accounting giant in January 1999 as director of its technology division.

At PWC, Steele helped start the quarterly "Shaking the Money Tree" event that is now famous among the city's entrepreneurs and investor community. The series, which began in May 1999, is now in its eighth quarter and serves as an informal forum for entrepreneurs to meet with potential investors.

"It's the only event that truly brings emerging growth technology people together with the VCs, investment bankers and large angels in the community," he said. "There is no better event for seeing the right people. It's not a normal industry event. There are no service providers in the room. Just press and the people with the money."

On Monday, Steele will move to his next venture as a principal at Korn Ferry International in the executive search firm's advanced technology practice.

"I've been an entrepreneur all my career. I enjoy building and starting new ventures," he said. "Even with my own companies, as soon as they became successful I hired a leadership team to come in and take care of the day-to-day so that I could do what I enjoy -- building relationships and rallying the troops."

Now, Steele hopes to do more than just attract business. He wants to sit on boards and serve as an advisor to some of the young companies he's seen over the past two years.

"At PWC, once I got a relationship going I was out of the picture. I'm not an accountant. It's the dedicated team at the firm that is the secret sauce," Steele said. "Because of the independence rules in accounting, I couldn't sit on any boards or invest in any company PWC served. Now, I have that ability and freedom."

Steele said that when he signed on with PWC he was trying to build market share for the firm with emerging growth technology companies. Now that the firm is one of the biggest in the tech space, he feels that his role had become less entrepreneurial. At Korn Ferry, Steele will have a chance to return to his entrepreneur roots.

"This is an entrepreneurial business in a large public firm," he said. "I will also be involved with servicing the client -- not just sales. It gives me a chance to be more intimately involved with my clients and take them through the entire business process."

Steele added that "PWC is still tattooed on my heart," and that he has no plans of dropping off the city's social circuit.

"I enjoy the interaction -- I'm a people person," he said. " Even though I'm selling a different type of service and might not be at the OK Cafe three times a week hearing business plans, I won't give up my booth. I'll meet with more midstaged companies now, but I want to stay in touch with early-stage companies."

"Life is about building relationships and I have built some great ones," Steele said. "I want to help as many people succeed as possible. I believe it is one of my roles in life. I want to be a facilitator to help others be successful -- whether it be through introducing them to the right accountant, lawyer or VC."

EXECUTIVE: Richard E. Steele, Jr.

AGE: 48.

EDUCATION: Columbus State University.

CURRENT POSITION: Principal, Korn Ferry International.

PREVIOUS POSITION: Director, PricewaterhouseCoopers LLP.

PROFESSIONAL ORGANIZATIONS: Technology Association of Georgia, Atlanta Venture Forum, TiE.

FAVORITE CHARITIES: Atlanta's Table, Hospitality Helping Hands, High Tech Ministries.

FAVORITE MOVIE: Mr. Holland's Opus: "You change lives one day at a time over a lifetime."

FAVORITE BOOK: "Fresh Wind, Fresh Fire" by Jim Cymbala.

MOST USEFUL WEBSITE: www.pwcmoneytree.com or www.pwcerc.com.

FAVORITE RECREATIONAL WEBSITE: www.pollstar.com.

HOBBIES/SPORTS: Volunteering at Hands on Atlanta or The Atlanta Community Food Bank. "My motto is: if you can't play a sport, be one," Steele said.

WHAT KEEPS HIM AWAKE AT NIGHT:"I worry about the bright, hard-working men and women who have great ideas that will never get funded because of the excesses of 1999 and early 2000," he said. "I pray that they understand that timing is as important as product and that they will pick themselves up and get back into that game."

MOST IMPORTANT LESSON: "You make a living out of what you get; you make a life out of what you give." -- Winston Churchill

FIRST JOB: "A bat boy for the Columbus Yankees AA franchise in 1965 in Columbus, Ga.," Steele said. "I was paid $2 a game and got to hang out with future major league players -- what a deal."

LAST VACATION: Family vacation to San Antonio.

NUMBER OF HOURS WORKED PER WEEK: 60+.

FAMILY: Steele lives in Marietta with his wife, Beth, and three kids: Richard Everett III (19), a freshman at UGA and honor student; Andrew (16), a sophomore at Wheeler High School in Marietta; and Rebecca (13), an eighth grader at East Cobb Middle School.

BIGGEST ACCOMPLISHMENT: "Staying married for 21 years for sure," Steele said. "Outside of that, I helped start Atlanta's Table in 1986. We take prepared foods from restaurants, hotels and caterers and distribute it to soup kitchens, battered women's shelters, Project Open Hand and other feeding ministries. In 1986, we handled 40,000 pounds of food. This year we will move 500,000 pounds of food and there are now over 140 programs like this across the world."