Patrick McDonald-King: I was a first-time CEO, learning on-the-fly
I started DAX, a production workflow and digital asset management company for the media entertainment industry in 2000 when I was just 30 years old. I was a first-time CEO, learning on-the-fly how to handle the trials and tribulations of operating, raising money for and growing a business. We did our first round of angel funding in 2004 and in 2007, DAX completed a roll-up of three companies to expand into cloud-based asset management.
I had no formal executive training and there was a continuous learning curve
By 2010, DAX stood at about $4 million in revenue and 35 employees. I had no formal executive training and with the growth we were experiencing, there was a continuous learning curve. The former president of the angel funding firm we had worked with in 2004, John Morris, reached out to me at several points over the years to invite me to join his Vistage group. I had a lot of respect for John and we had a great relationship, but each time he reached out, I was not quite ready to make the time or financial commitment.
The combination of John, the group, the speakers – the entire Vistage experience – allowed me to mature as a leader. I wouldn’t be where I am today without Vistage.”
I needed help creating value if I wanted to be acquired by a larger company
By the time DAX went mobile in 2011, we were getting about 75% market in the entertainment industry. We worked with all of the major Hollywood studios, including Warner Bros., 20th Century Fox, CBS, and Lionsgate. I knew that I needed to create additional value and real attraction if I wanted a larger company to acquire us. I needed help. I decided to finally give Vistage a try and I joined John’s group in 2011.
My Vistage group helped me work through tough business challenges
When I joined Vistage, I was the youngest member and had the smallest company at the table, but I felt like I had equally as much to contribute as I did learn. John had brought together a group of dynamic and talented leaders from various industries and backgrounds and we soon knew each other’s businesses inside and out. We worked well together and we were committed to helping each other work through tough business challenges.
DAX got acquired by Prime Focus
In 2013, DAX won an Emmy for transitioning the entertainment industry to a file-based workflow and we also reached over 100,000 users on our B2B platform. It was during this time that I began to seriously pursue an acquisition. In 2014, I sold DAX to Prime Focus, a public media services and post-production company in the Indian stock exchange and I moved over as president of North American operations.
John was an invaluable mentor and coach…
Vistage was extremely valuable during the acquisition
John was an invaluable mentor and coach through it all, helping me navigate business decisions, manage growth and pursue the acquisition. As a Chair, John is smart, well-connected, a great listener and always willing to help. He digests, processes and evaluates the issue at hand and offers a thoughtful perspective. He is direct and cuts to the chase; he will not tell you what you want hear. He has been instrumental in helping me identify recurring problems and holds me accountable to address and correct them.
I stepped in as COO of my fellow Vistage member’s company
In 2018, I exited Prime Focus after four years as president. I took some time off, joined a few boards and did some angel investing and after a year, I decided it was time to get back into the game. I joined EV Connect, a fast-growing software-as-a-service platform that manages a network of charging stations for electric vehicles. The company is experiencing rapid growth, so the CEO, Jordan, who was also a member of my Vistage group, asked me to step in as COO to manage the operations, allowing him to focus on being the CEO and thought leader. It has been a great fit and the perfect next step in my career.
Vistage allowed me to mature as a leader
Vistage has had a positive impact on me, both personally and professionally. The combination of John, the group, the speakers – the entire Vistage experience – allowed me to mature as a leader. I wouldn’t be where I am today without Vistage.
