From Fast Track to Fast Track

Rolling at the forefront of software innovation, Daniels alum has thrived with fast-growing companies

For many in the software space, joining up with a company just before it catches a wave of phenomenal growth represents the pinnacle of a career.

For Jim Legg (BSBA 1986), latching on to such explosive opportunities is a way of life. As president and CEO of Thycotic, a cybersecurity firm based in Washington, D.C., he’s enjoying his sixth rocket ride since he left DU shortly after graduation.

First there was Computer Associates, which in the mid 1980s was just laying the groundwork for the infrastructure software behemoth it was to become, followed by BMC Software, which grew from 250 to 5,000 employees in the five years Legg was there. Two startups followed: PentaSafe, which expanded to more than 300 employees over seven years before it was acquired, and Idera, which followed a similarly rapid seven-year growth curve before it was purchased. A three-year stint as CEO at PHDVirtual concluded with the company being acquired, after which Legg moved into his current role.

“Being part of startups and smaller companies is a ton of hard work and a grind, but it can be extremely rewarding to grow to a level of accomplishment and market share while building something you can be proud of,” Legg said. “My education has helped me as DU was a great school where I learned a lot and it prepared me for the business world.”

In light of his track record for aligning with companies on an upswing, Legg has identified five characteristics for evaluating any opportunity that seems compelling:

1. Focus on the company’s technology. Since change is constant, it’s critical to find a good product in a good market where you can build solid sales, channel and distribution modes around that technology. It must have the potential to grow rapidly if it’s going to sustain growth.
2. Behind every good company is a group of investors that works in tandem with management. Legg said he’s worked primarily with two investment banking firms over the last 20 years and adds that they’ve offered invaluable guidance on his companies’ strategic direction and his career.
3. You’re only as good as those around you so you need a great team. Hire the best people and develop relationships built on trust. Half of Legg’s team has worked with him for 10 years and his sales and marketing leads have worked with him for 20-plus years at four different companies.
4. Find the right market niche. Avoid slow growth, already mature markets. Thycotic was a $10 million company when Legg arrived in 2015 and he said it will soon be a $100 million company. The company’s technology is a critical component to the security infrastructure behind each of its 10,000 customers worldwide.
5. Innovation is essential. Constantly developing and building new products quickly is important in today’s fast-moving, extremely competitive marketplace.

“I consider myself lucky and blessed to have had the opportunities I’ve had, but some of the luck came through happenstance and some I created,” Legg said.

Interestingly, Legg’s Daniels degree featured an emphasis in real estate and construction management, but upon graduation, the Denver native found that the commercial real estate vacancy rate was running around 20 percent in his hometown. Fortunately, an interest in computer sciences allowed him to reinvent his career path relatively easily, although he’s remained intrigued by real estate and land development.

Such interests, however, largely remain on the back burner as he steers Thycotic through the increasingly critical cybersecurity landscape. Ultimately, he sees the industry growing as large as the pharmaceutical and health care spaces.

“If you think the next war will be fought with soldiers, it’s not,” he said. “Everything is around cyber and hackers, and making sure data and information stays secure and safe is never going to go away. It’s the next frontier.”