When Steven B. Achelis was in San Francisco in 1981, he noticed that his retired father was tracking the sales of various stocks using a ruler and pieces of paper.
Believing there should be a more efficient and easier way to track stock trends, Achelis purchased an Apple computer and some software from Dow Jones & Co. From that humble beginning, Achelis went on to found his own company, Equis International, 3950 S. 700 East, a company that provides software to aid people in making decisions about their investments.At the time Achelis visited San Francisco, he was a heavy equipment operator in Jackson, Wyo., and the maintenance shop foreman for Jackson Hole Ski Corp.
In 1982 the stock market took a dramatic rise, and by using the software as a guide he bought and sold stock. By 1983, he had parlayed a $20,000 initial investment into $100,000.
He quit his Jackson job, moved to Salt Lake City and started taking classes at the University of Utah, all the time writing software to keep track of stock trends.
He and his wife, Denise, a certified public accountant and controller, formed Computer Asset Management in the basement of their Kearns home.
In early 1984, he suddenly realized the software programs he was writing could help people with their investments. Thinking of his father, Achelis said the world is full of people who want to control their investments.
He went to a computer trade show in late 1984 to show off his software called The Technician, and although people seemed to like it, he couldn't quite get the message out. He sold a few programs, ran small ads in financial newspapers but didn't have much success.
In 1985, Achelis released his second program, MetaStock, which added more capability and multiple graphic windows. It wasn't long before the company's future was assured.
In April 1986, after reviewing 26 different computer programs and picking The Technician and MetaStock as the editor's choice, PC Magazine featured the company on its cover. "The phone began ringing off the hook, and we had to hire three additional people," said the 37-year-old Achelis from his office, which features his products prominently.
Since 1986, the company has grown about 35 percent annually and the products have been upgraded several times. That same year the company leased 2,000 square feet in the Decker Lake Industrial Park, later expanding to 4,000 square feet.
Achelis changed the name to Equis International in 1988 to better reflect the fact that his software now goes to 70 foreign countries. Achelis says the word Equis has no particular meaning, but it could represent equity.
In August 1991, the company moved to the 700 East location where it now has 10,000 square feet and 38 employees. The company also has six programmers in other states who work from their homes.
The third program from Equis, called The Downloader, was released in 1986 and allows people to gather information from other programs via the telephone, modems and satellites. A fourth product, Pulse, came along in 1989. It's a program for the active investor and keeps track of what they purchase, the buying and selling prices, and how much the user made on the sale.
Each of Equis' programs come in graphic-loaded boxes that are nice enough to sit on desks because they are so colorful. Included are manuals on how to use the software and on how to invest. The software is updated every year and tested by a variety of people, Achelis said.
Equis has 100 user groups around the world, each sharing tips on how to use the software. Realizing that people need more than just computer programs, Achelis started Equis University, a source where people can learn more about computers and investing.
Equis University publishes a catalog that features Equis products but also lists programs from other companies. The company has 30,000 registered customers who have purchased 100,000 of the software programs.
Achelis said his programs are ideal for teenagers, single parents and disabled people who can sit home and try to make money through investments. He recalled how a gasoline station attendant in Southern California used Equis software to win an investment contest.
In addition to sales, Equis has a customer service program to answer questions about the software. Most of the company's sales are outside Utah and come through direct mail.
Achelis said the reason his company has received several awards is his employees. He believes in good communication, and Angela B. Foote, marketing director, said Achelis is a good motivator. The employees are continually trained to keep up with the changes in software technology. They receive bonuses for reaching certain goals.
Foote said besides Equis paying for trips to Maui, Cancun and the Caribbean for Equis employees and their spouses, Achelis one time rented a bungee jumping platform for an hour.
Equis employees also pool their own money and have formed an investment club. They use the company products to make their investments.
The obvious question to ask Achelis is whether someone using Equis software programs has complained about losing money in the stock market or other investments. He said nobody has blamed any losses on the software programs.
When all is said and done, Achelis said, the software is only a tool. "It doesn't make the decisions."