Herring Group Austin
Analysis, Leadership and Change
for Companies in Transition

Highlights - Start Up Companies

In addition to being the CFO of a venture capital backed start up, I have served the CEOs and investors of numerous start ups.  Highlights from these engagements follow.

Business Model Change

I met with an entrepreneur who was beginning to commercialize his technology.  We discussed his business goals as well as his personal goals.  Based on these goals, I described several commercialization options, including designing his own device or simply deploying his technology on another device.

We developed the business model and financial projections.  The client received two term sheets from venture capital firms.

Biotech Go To Market Strategy Change

One client was commercializing some licensed technology.  The client’s original go to market plan was to develop a laboratory medical device and obtain FDA approval.  This strategy would require significant capital and virtually no ability to generate revenue prior to FDA approval.  After gaining an understanding of the company’s technology, applications, and markets, I suggested an alternative business model.  While the company was in the expensive FDA approval process, the company could deploy the device in its own laboratory and have physicians send samples to the company’s laboratory for testing.  Since the company was selling test results, not a medical device, the FDA approvals were much easier to obtain.  With this intermediate business model, the company could generate revenue, demonstrate efficacy and build demand for the device as it was seeking full FDA approval.

Biotech Commercialization

Worked with client to develop commercialization strategy for technology licensed from a US government laboratory.  My contributions included:

  • Identifying, researching, sizing and prioritizing commercial markets
  • Developing the business model
  • Drafting the business plan and financial projections
Start Ups, Entrepreneurs

Representative Services - Companies in Transition