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Managing the Start-up
Estonia 2009
Rémi Walbaum
www.venturelab.ch - une initiative de l'Agence pour la promotion de l'innovation CTI
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Remi Walbaum
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Remi Walbaum
Passion
Independent
Risk
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Remi Walbaum 5 T’s
Experience sharing
Cokin: Travel autonomy
De Vere: Timing is critical
Axe: Talk the customer language
Le shop Try not to educate
Fleur de Pains Turn upside down
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Plan
Management ? Finance Timing Information Organization Team Finance Crisis Management Tools
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Management
Control Vs Out of Control
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Management Key Words
Anticipate
Prepare
Care for People
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What is your role ?
Fulfill the Mission
Stick to the Objectives
Jump barriers
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What is your role ?
Put people in movement
Including yourself…
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Finance
Secure Finance
Burn Rate
Cash Flow
Payrolls first
Sales Funnel
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Timing
Milestones
Monitor Market Movements
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Information
Essentials infos to run the Business
Communication channel Internal External Formal Informal Frequency
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Organization: Corporate governance Organization
Communication
Rules
Be flexible, plan for change
Professional as of day 1
Say what you have in mind
Design the model that suits your business
Board
CEO
R&D Test and production
Marketing and sales
Admin & HR
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Team: Plan
Assess needs
Competing for people
Internal versus external resources
Build a team
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Team: Asess Needs
Role of the Founder's)
What other skills are key to the business
When do you need those skills?
When can you afford them ?
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Team : Competing for people
Reward risk takers
Fight for the good Resources
Efficient people operational tommorrow
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Team: Internal vs External resources
Advantages of external resources
Drawbacks of external resources
Case by Case
• Variable cost • Focused expertise • Fast / available • Committment level
• High unit cost • Loss of internal expertise • Relative Priority • Committment level
Legal
Accounting Planning Logistics
Technical Dev
Sales
Marketing
Specific cases
Research
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Team: the Process
Identify Required Profiles
Induction Motivation
Performance Review,
Promotion Resignation
Recruitment
Legal and contractual
Compensation Dismissal
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Team. When it works
Inattention to
Results Avoidance of
Accountability
Lack of
Commitment
Fear of
Conflict
Absence of
Trust
From
The Five Dysfunctions of a Team
” by Patrick Lencioni, Copyright 2002 by Patrick Lencioni Reprinted with permission of John Wiley & Sons, Inc.
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Crisis Management
Handle it
Look after yourself as well
Analyze with others
Decide
Apply
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Crisis Management
Never attempt a turnaround with a team of people you do not know.
Get reliable information Cash, Cash, Cash Focus on customers and prospects. Communicate, all the time. When you cut back, make sure you cut enough
Make a list of what is critical to survival and what's just "nice to have".
Don't leave any skeletons in the closet.
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Company“DNA” is made by its team
The entrepreneur is the cornerstone of the company’s culture Give the tone and spirit of the company Communicate Know that everything you do does communicate
Team interaction models to culture
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People
Eg: Fleur de Pains Votre Responsable
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Management Tools
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What are management tools ?
The key information you and your team needs to
Invest time in defining early What information ? When you need ?
The key to anticipation
Figures What you can’t measure, you can’t manage
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The Management cockpit
Strategy should not be revised often Decisions are 200 times per day
The entrepreneur @ the heart of this process
Show the way
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The Management cockpit
A must…like in a plane. ;-)
All necessary indicators to make a decision and follow them up.
That relates and reminds you, your strategy.
Requires constant discipline
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The Management cockpit
Output
Decision process
Differentiate intuition from facts
Sharing information or not
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The Cockpit infrastructure
Identify flows of information Information flows vary according to the company’s size Build the necessary IT infrastructure
Personnal management
The Cockpit
Finance
Marketing and Sales
Human Ressources
Production Project
Management
Others
Consolidation area For the Pilot only
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The Management cockpit
Design your own management cockpit and KPI, based on the same general concept
Set time apart to do it regularly
Keep the strategy visible Control the info flow
Then Decide … Action Communication
Tools Dr George’s book Excell sheet Netsuite.com …
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Personal management
Use the personal effectiveness tools Prioritize the issues (Urgent –
Important matrix)
Monitor yourself like you monitor your staff
Check your own efficiency Integrate your own situation
(conditions, week cycle) Health evaluation
Build and Maintain the NETWORK !
Tools
Mind maps Free:
mmpersonal30-2e.exe Commercial: Mindjet (+
Gyronix for projects) To do lists
Act – Outlook Plaxo Online (Xing,, …)
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Time Management Matrix
Not urgent Urgent
Leadership Planning Empowering Visioning
Reactive Crises Deadlines meetings
Important
Waste Trivia Junk mail Busy work
Deception Interruptions Email Phone calls
Not important
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Seven habits of highly effective people
1. Be proactive - act or be acted upon 2. Begin with the end in mind- lead yourself to your
personal vision 3. Put first things first – organize and execute around
priorities 4. Think win/win – always seek mutual benefit 5. Seek first to understand, then to be understood –
empathetic listening and deep understanding 6. Synergize – discover creative alternatives in
collaboration with others 7. Renew yourself – physical, mental, social, and
spiritual nature
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Finance
Monthly P&L
Indicators Cost of good sold Burn Rate Cash flow Debt ratio
Results YTD (Year to Date)
History of business
Tools Accounting software
External accountant
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Marketing and sales
Pipeline Quality and quantity
Conversion rate Retention rate Process time for contact to
cash in Start your Customer
Relationship Management (CRM) from day 1 5 top customers !
Business Intelligence Competitors Market
Tools Excel table CRM solutions Salesforce.com,
eCRM.com, …
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Human Ressources
HR Administration (salary, …)
Headcount Missing / opportunities Training Competences – skills
Productivity ratio Quality ratio Personality assessment
Climax scale
Tools Chamber of commerce /
Insurances / Accounting firms offer HR management for salary,
Insight discovery Personality test
Strength finder team (education.gallup.com > Strengthfinder !)
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Production
Production level KPI per business
Project management Ressources Deadline Budget
Identify and share knowledge
Tools Intranet Groove (P2P intranet) Egroupware.com Alextra.com,
Companyintranet.com, …
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Others
IP issues
Innovation process
… Any relevant issue for your business R&D Rate Risk Evaluation Number of contacts made …
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The trivial many situations or problems (80% of the time expended) produce 20% of the results
The critical few situations or problems(20% of the time expended) produce 80% of the results
Plan your time to concentrate on the most productive activities
The PARETO time principle
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Make sure you enjoy what you are doing
If not the others will notice and adapt
Have Fun doing it…
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Thank you for your attention