cfo in a start-up environment – dealing with creativity, structure and changes -phil huber
TRANSCRIPT
![Page 1: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/1.jpg)
CFO in a Start-up environment – Dealing with
Creativity, Structure and Changes
![Page 2: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/2.jpg)
Clear concepts Motivation & Integrity
Passionate
Management
Human Resources Production Engineering Sales
Operations
Creative - Structured Dynamic - Conservative Reassessment
Start-Up
Computer Science Project management IT-innovation management Data structuring
IT
Business plan modeling Financial rounds
Controlling & Reporting IR, Legal & IP
Finance
Corporate Governance Management Accounting
Business & Industry Marketing & Operations
Business
Administration
Phil Huber
![Page 3: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/3.jpg)
Concept developed in California, US
Company Founded in Switzerland in 2006
Company Mission
Improve patient lives and drive-down health care costs by
providing innovative implantable pump systems
to manage fluid overload within the body
3
![Page 4: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/4.jpg)
The automated low-flow ascites pump system is
an intelligent pump, charging device and patient monitor
What It Is How It Works
alfapump &
catheters
smart charger
remote data
monitoring
4
![Page 5: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/5.jpg)
Product platform: Fully implantable battery
powered pump system
that continually collects
and moves excess fluid
Have identified four key fluid management markets that
can benefit from an automated pump system therapy
Fluid Overload due to End-
Stage Renal Disease
Fluid Overload due to
Congestive Heart Failure
Ascites Independent of
Underlying Disease
Chronic Pleural Effusion
Target Fluid Management
Patient Conditions
5
![Page 6: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/6.jpg)
Creativity
„An essential aspect of creativity
is not being afraid to fail. “ Edwin Land
„Creativity involves breaking out
of established patterns in order to
look at things in a different way.“ Edward de Bono
![Page 7: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/7.jpg)
Creativity – a “SWOT” analysis
Market advantage
Analyze
Check costs
„OUTCH“
Opportunity:
right product
Threat:
wrong product
Strength: drives innovation
Weakness: drives resources
![Page 8: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/8.jpg)
• Keep the big picture – the market in focus
• Watch where the money and time is spent
• Evaluate; i.e. Quality Control uses the 5W Method
Creativity – what can a CFO do?
![Page 9: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/9.jpg)
Structure
„…The higher your structure is to be,
the deeper must be its foundation. “ Saint Augustine
„Structure is more important than
content in the transmission of
information.“ Abbie Hoffman
![Page 10: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/10.jpg)
Structure – the focus changes
Research
Development
Clincal
Regulatory
Quality
Manufacturing
Commerical
![Page 11: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/11.jpg)
Structure – changes affect all levels
Structure
Company
Organization Processes
![Page 12: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/12.jpg)
• Build an organization for the future
• Budget the changes, keep forecasting
• Hire overqualified
• Fill gaps with consultants
Structure – what can a CFO do?
![Page 13: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/13.jpg)
Changes- Restart Today
„If you find out, that you are riding a dead horse,
…“ Tribal Wisdom of the Dakota Indians
![Page 14: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/14.jpg)
Changes
„If you find out, that you are riding a dead horse,
…“ Tribal Wisdom of the Dakota Indians
![Page 15: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/15.jpg)
Changes
Right Strategy Wrong Strategy
CONTINUE
STOP
Type I error
Type II error
![Page 16: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/16.jpg)
…quite human reasons not to stop a project:
1. Against intuition
2. Admitting failure
3. Remaining uncertainty
4. Sunk cost bias
5. Bad risk / reward profile
![Page 17: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/17.jpg)
Changes – allow them
- Error detection means survival
- Personal integrity
- Safes money
- … and last but not least
![Page 18: CFO in a Start-up environment – Dealing with Creativity, Structure and Changes -Phil huber](https://reader030.vdocument.in/reader030/viewer/2022020307/55c46833bb61eba3478b4817/html5/thumbnails/18.jpg)
Changes
„You are never too old to set another
goal or to dream a new dream.“ C. S. Lewis
18