Value Drivers

Brio360
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Corporate executives, entrepreneurs and authors discuss corporate finance strategies, growth tactics, leadership journeys and other management topics to drive value creation.

  1. 12 THG 11

    From Complexity to Clarity: Making Diagnostic Imaging as Easy as Booking an Uber

    This episode features an interview with Elan Adler, the founder and CEO of OneImaging, a nationwide diagnostic imaging network dedicated to making medical imaging faster, more affordable, and more transparent. Adler, leveraging his background in radiology operations and technology sales, explains that the company was founded to address the common problem faced by patients who lack fundamental information—such as the lowest cost, insurance coverage compatibility, appointment availability, and quality of service—when referred for an exam like an MRI or CT. The current system is complex, often resulting in patients having "no clue what the price is" until they receive a bill, and appointments are frequently booked without prior authorization approval, contributing to a high same-day cancellation rate of 25% in the market. OneImaging disrupts this by transforming the patient experience into a simple consumer interaction, likened to booking an Uber or Airbnb, complete with price transparency and choice. The company focuses on leveraging technology to automate processes, including reaching out to members via text during the prior authorization process to guide them directly to booking. For employers, OneImaging is an attractive solution because medical imaging is the second most used service in healthcare by volume (after prescription drugs) and represents 8% to 18% of a commercial health insurance plan's total spend. The company's financial model guarantees a one-to-one return on investment, ensuring that employers cannot lose money by implementing the solution, which can translate to tens of millions of dollars in savings (EBITDA) for large companies. By streamlining the process, OneImaging has significantly improved patient adherence, raising the T30 completion rate (exams completed within 30 days) from 45-50% up to 80%, thereby improving clinical outcomes. Looking ahead, OneImaging is deploying newly raised capital to focus heavily on product enhancements, such as creating a centralized repository for all patient images and establishing on-site imaging centers for large corporate clients. The CEO attributes the company's competitive durability to its "tech company first" approach and the network effects inherent in its two-sided marketplace. Key Takeaways OneImaging targets a crucial area of corporate overhead: Health insurance plan spending is the second largest line item of overhead for a company after salary and wages. Medical imaging services, which constitute 8% to 18% of a commercial health insurance plan's total spend, offer a high-leverage opportunity for reduction. CFOs should recognize this overlooked area, which can translate to tens of millions of dollars in direct savings (EBITDA) for larger companies. The business model eliminates financial risk for the employer: OneImaging generally does not make money unless they save the client money. For budget predictability, the solution can be purchased as a subscription with a guarantee of at least a one-to-one return on investment, making it "impossible" for a client to lose money. The target is to create a 2.7% to 3% reduction in the entire healthcare spend. A "tech company first" mindset, even in healthcare, is crucial for efficiency and competitive durability. OneImaging actively invests in product and engineering to automate processes that typically rely on faxes and manual effort. This automation is essential to eliminate pain points like the massive information loss during prior authorization and the 25% same-day cancellation rate prevalent in the market. The focus on product experience directly improves adherence and health outcomes, which minimizes costly downstream complications. By simplifying the process to be like booking an Uber or Airbnb, OneImaging has dramatically increased the T30 completion rate (exams completed within 30 days) from 45-50% up to 80%. Higher adherence ensures employees receive timely diagnoses and follow prescribed care pathways, reducing future high-cost events. Finally, long-term durability is achieved by integrating solutions that create network effects and a natural moat. By doing the "hard work up front" on technical integrations, the company makes the product more seamless and automated, increasing utilization and ensuring that new entrants would offer a product "so far below in quality from a price perspective" that it is not worth the effort. Chapter Summary (00:01:03) The interview begins by introducing Elan Adler, founder and CEO of OneImaging, a nationwide diagnostic imaging network aiming to make medical imaging faster, more affordable, and more transparent. Adler, drawing on his experience in radiology operations and technology sales, realized the need for the company when people close to him consistently sought answers regarding the lowest cost, insurance compatibility, appointment availability, and quality of imaging services. (00:02:53) The current process for arranging an imaging appointment is inefficient and complex: ordering providers typically name only one or two facilities, often owned by the same employer. This system results in patients having no knowledge or choice, leading to stress, lost clinical data during prior authorization, and a high same-day cancellation rate of 25% due to issues like lack of approval or improper prep. Patients have "no clue what the price is" until they receive a bill afterwards. (00:05:32) OneImaging addresses this inefficiency by fundamentally fixing the lack of visibility and optionality in the market. Adler compares the desired consumer experience to booking an Uber or Airbnb at an airport, where users instantly see multiple options, transparent pricing, and can select the level of service they want. (00:07:30) The company targets a massive, yet often overlooked, market: imaging services (MRIs, CTs, etc.) are the second most used service in all of healthcare by volume after prescription drugs. This area accounts for 8% to 18% of a commercial health insurance plan's total spend, highlighting its financial leverage. Critically, health insurance plan spending is the second largest line item of overhead for a company after salary and wages. (00:11:23) OneImaging's business model is contingent on performance; they do not make money unless they save the employer money. For budget predictability, they can be purchased as a subscription with a guarantee of at least a one-to-one return, making it "impossible" for a client to lose money. The strategic goal is to achieve a 2.7% to 3% reduction in a company's overall healthcare spend (MLR). This solution is implemented by integrating into the prior authorization process, reaching members via text message to direct them to book their appointment digitally. (00:16:24) Newly raised capital is being deployed into product development, including building integrations to host all of a patient's images in one place, and partnering to establish custom, on-site imaging centers at corporate wellness campuses. The company rigorously tracks the T30 completion rate (exams completed within 30 days of the order). Through product improvements and consumer focus, this rate has been substantially increased from an initial 45-50% to 80%, thereby improving patient adherence to care. (00:30:09) To maintain a competitive edge, Adler prioritizes building the "absolute best product" by committing to automation, seamless integration, and running the organization as a "tech company first". This hard work creates a "natural moat" supported by network effects. Adler draws inspiration from entrepreneurs who built revolutionary products and challenged entrenched industries, citing figures like Elon Musk, Steve Jobs, and Travis Kalanick.     Resources: https://www.oneimaging.com/about-us       Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com   Follow our host:           Peter Ho https://linkedin.com/in/peterhocm     Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

    43 phút

  2. 1 THG 10

    Layering Capital from Sponsor Equity to Permanent Debt with Greg Saunders

    This interview features Greg Saunders, CFO of Coast Energy, discussing the complexities of scaling solar, storage, and microgrid projects for commercial real estate portfolios, a sector he notes is exciting but prone to risk, complexity, and surprises, likening the environment to "riding the roller coasters". Saunders, who has a background in specialty finance and clean energy financing, highlights that the CFO has a front-and-center role in product design due to the granular financial structuring required for these capital-intensive projects. Coast Energy's ability to optimize both the cost and flexibility of capital is supported by strong private equity sponsors. The company uses approximately five or six kinds of capital, matched specifically to the project stage, from conceptual planning through operation. This financing journey begins with sponsor equity for early-stage conceptual funding, design, and marketing. As projects advance, they utilize a development debt facility (a 1–2 year term typically covering 55%–70% of costs at an 8%–10% interest rate), followed by a construction line of credit (18–24 months) once the project is de-risked by permits and entitlements, covering 70%–80% of construction costs. Finally, as the asset becomes operational, permanent debt (7 to 10 years, or up to 25 years for applicable programs) and tax credit financing are secured. Permanent debt is sized conservatively (40%–60% of asset cost) based on the Debt Service Coverage Ratio (DSCR), typically 1.2 to 1.6, to ensure a cash flow cushion. Together, the permanent debt and tax credit financing cover roughly 90% of the project cost and are used to take out the construction loan. The federal Investment Tax Credit (ITC) and depreciation policies, leveraged by tax equity investors (often large banks seeking a strong after-tax return), are key to lowering the overall cost of capital. A central element of Coast Energy's success is its "zero capex model," which removes the $2 million to $5 million upfront cost barrier for commercial property owners. Customers benefit from lower, predictable energy costs through a Power Purchase Agreement (PPA)—often a 20-year contract—where they pay 10% to 25% less than utility rates . For Coast Energy, this creates long-term, high-credit-quality cash flow streams that are highly valued by investors . Property owners highly value this stability, which also improves their property's Net Operating Income (NOI), translating immediately into increased property value when multiplied by the capitalization rate. To manage the inherent variability of project development, which can range from six months to several years and be complicated by utility upgrades and tangled permitting processes, Saunders emphasizes the necessity of financial agility and portfolio diversification. Risk is mitigated by geographic diversity and diverse off-takers (e.g., utilities, multi-family, healthcare), which de-risks cash flows and increases the company's long-term value to potential acquirers. Key Takeaways for Other CFOs • Build Sophisticated Scenarios: Due to the variability of project development and construction timelines (often delayed by utilities or local permitting), financial planning and forecasting must include sophisticated scenarios to prepare for and react to the accumulation of things that could "go sideways". • Prioritize Capital Flexibility and Cost: When leveraging strong financial backing (e.g., private equity sponsors), actively optimize both the low cost of capital and its flexibility; these two goals are often "diametrically opposed," as the lowest cost capital may come with restrictions and covenants that limit product adjustments. • Match Capital to Project Stage: Employ a layered financing approach (up to 5 or 6 types of capital) where the duration and cost of capital are matched to specific project stages, from sponsor equity for early development, through short-term development and construction debt, to long-term permanent debt and tax equity once operational. • De-Risk Through Diversification: To make cash flows valuable to investors and build a resilient company, actively seek geographical diversity and diversity among off-takers (customers), such as utilities, commercial property owners, multi-family, and healthcare organizations. • Understand Counterparty Intent: In financial negotiations, prioritize understanding what truly "makes them tick," such as specific risk concerns (e.g., delinquency or repayment before maturity). Knowing their core priorities allows you to navigate a "win-win solution" that respects their needs while ensuring your sustainable product delivery. • Commit to Hard Work: Recognized as an "enduring constant," there is "no substitute for hard work," requiring CFOs in fast-growing companies to commit fully to the business, often involving long hours   Chapter Summary (00:01:03) Greg Saunders, CFO of Coast Energy, discusses scaling solar and microgrid projects for commercial real estate. He notes the CFO's integral role in product design due to complex financial structuring. He describes the industry as exciting but full of complexity, risk, and surprises, likening it to riding the roller coasters. (00:04:07) Supported by private equity, Coast Energy optimizes capital cost and flexibility, recognizing that the lowest cost capital often imposes restrictive covenants. The company uses 5 or 6 types of capital, matching the cost and duration to the specific stage of the project. (00:07:21) The capital pathway starts with sponsor equity for early design, followed by a development debt facility (1–2 years, 8%–10% rate). Once permits de-risk the project, a construction line of credit (18–24 months) covers 70%–80% of costs, paying off the earlier development debt. (00:09:54) Projects transition to permanent debt (7 to 25 years) and tax credit financing. Permanent debt is conservatively sized (40%–60% of asset cost) based on a Debt Service Coverage Ratio (DSCR) of 1.2 to 1.6. Tax equity investors, often large banks, utilize the Investment Tax Credit (ITC) and depreciation policies to lower the overall cost of capital. (00:15:19) The zero capex model removes the $2M–$5M upfront barrier for commercial property owners. Customers gain predictable, lower energy rates (10%–25% less than utility rates) via a Power Purchase Agreement (PPA). For Coast Energy, this generates long-term, high-credit-quality cash flows that improve property Net Operating Income (NOI). (00:21:29) Due to variable timelines caused by utility delays and permitting, financial forecasting requires building sophisticated scenarios to anticipate issues a year or two out. Risk mitigation involves diversifying projects geographically and across off-takers (e.g., healthcare, multi-family). Saunders emphasizes understanding counterparty priorities in negotiations to find win-win solutions and that there is no substitute for hard work.   Resources: https://www.coastenergy.com/   Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com   Follow our host:         Peter Ho https://linkedin.com/in/peterhocm       Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

    38 phút

  3. 29 THG 9

    Beyond the Emotion: Using AI and Tech to Achieve a Compliant Startup Wind-Down

    Dori Yona, CEO and co-founder of Simple Closure, introduced the platform designed to streamline the difficult, manual, and bureaucratic process of shutting down a startup. Yona's inspiration stemmed from his own experience running low on cash at a previous company, where he found that seeking guidance on dissolution was lonely, and no readily available platforms existed to help navigate the process. He emphasized that the vast majority of startups fail (90% to 93%) and that annually in the US, between 700,000 and one million companies shut down, a number nearly equal to those that incorporate. The interview established the critical need for proper dissolution, noting that failing to handle the process correctly (which involves about 95 moving parts) can lead to severe consequences, including piercing the corporate veil, resulting in personal liability for founders, lawsuits, or fines years later. Simple Closure addresses this by offering a solution that reduces the traditional wind-down time from an average of 9 to 12 months to typically 30 to 45 days. The platform uses technology, including AI agents and automations, to ingest data from cap table and HR systems (like Carta and Gusto), and systematically checks public state databases across all 50 states to ensure a compliant shutdown plan is created and executed. Simple Closure utilizes a partner-heavy go-to-market strategy, working closely with top Silicon Valley law and CPA firms (such as Cooley and Gunderson), as well as integrating with major ecosystem players like Stripe Atlas and Carta. Yona stressed that the decision to shut down is intensely emotional, describing it as "abandoning your child". His main lesson for founders is to avoid "kicking the can" down the road, as delaying the shutdown decision often results in wasting crucial time (6 to 12 months) and capital, sometimes forcing founders to pay out of pocket to achieve final closure. Simple Closure aims to provide peace of mind and help founders move quickly to their next venture. Key Takeways Entrepreneurs should incorporate several crucial lessons regarding company dissolution, viewing it not as a personal failure but as a common occurrence, given that 90% or more of companies shut down. Acknowledge that the decision to wind down is intensely emotional, often feeling like "abandoning your child". However, resisting the urge to "kick the can" down the road is vital, as delaying the shutdown decision wastes valuable time (usually 6 to 12 months) and often consumes the remaining capital, sometimes forcing founders to pay out of pocket for the proper wind-down process. Finally, always prioritize compliance: a proper shutdown involves managing approximately 95 moving parts, and failure to handle these details correctly can "pierce the corporate veil," resulting in personal liability, lawsuits, fines, or penalties months or years later. The primary goal should be to achieve a quick, compliant exit to gain peace of mind and focus on the next venture. Chapter Summary (00:01:03) Dori Yona, CEO and co-founder of Simple Closure, introduced the platform tackling the painful, manual, and bureaucratic process of shutting down a company. He highlighted a recent milestone: Simple Closure was named one of Fast Company's most innovative companies. (00:02:31) Yona's inspiration arose from his personal experience when a previous company ran low on cash and the board suggested a "Plan B". He found seeking guidance on dissolution was lonely, as no platforms existed, and even top-tier Silicon Valley law firms avoided the process. (00:05:13) Statistically, the problem is massive: 90% or more of companies fail. Between 700,000 and 1 million companies shut down annually in the US, a number nearly equal to the 800,000 companies that incorporate each year, demonstrating a continuous economic cycle. (00:09:37) A proper dissolution requires handling about 95 moving parts. Failure to handle these details correctly can "pierce the corporate veil," leading to personal liability, lawsuits, liens on personal property, or fines months or years later. (00:12:24) Simple Closure uses a highly partner-driven strategy, working with top law firms (e.g., Cooley, Gunderson) and integrating with major ecosystem players (Stripe Atlas, Carta). Technology, including AI agents, ingests data and checks public state databases across 50 states, reducing the process from the traditional 9-12 months to typically 30 to 45 days. (00:33:28) Yona emphasized that the decision to shut down is intensely emotional, akin to "abandoning your child". The key lesson is avoiding "kicking the can" down the road, as delaying the decision wastes 6 to 12 months of valuable time and capital, often forcing founders to pay out of pocket for compliant closure.   Resources: The Hard Thing About Hard Things by Ben Horowitz https://www.amazon.com/Hard-Thing-About-Things-Building/dp/0062273205/ https://simpleclosure.com/   Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com   Follow our host:           Peter Ho https://linkedin.com/in/peterhocm Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

    39 phút

  4. 23 THG 9

    Beyond the Numbers: Darrell Cox on Revenue-Connected FP&A

    The interview features Darrell Cox, a veteran finance professional who has guided some of Canada's fastest growing tech companies, discussing his philosophy on finance leadership and the solutions offered by Una Software, where he currently serves. Darrell notes that a consistent theme throughout his career, working at big and small growth-oriented companies, has been the imperative to "push the limits". This drive is manifested in his focus on the data side, where he frequently built custom databases to collect crucial non-financial data, married it with financial data, and used the resulting insights to drive and measure performance. He finds this FP&A-focused work, pushing beyond traditional financing, to be the aspect of his career that has "really added a lot of value" and makes him feel most proud. This long-standing challenge of integrating operational and financial data led directly to his excitement about Una Software. Darrell explained that previous FP&A tools often required costly, custom IT solutions and external databases to connect detailed revenue data to financial results. Una, however, is specifically designed to solve this problem by providing a revenue-connected and operationally connected planning approach, enabling powerful forecasting and budgeting that allows users to "see around corners" by leveraging actual sales data rather than just invoice data from the financial system. Una targets mid-market companies, defined roughly as those with revenues from $50 million to $500 million, appealing specifically to those struggling to connect their financial and non-financial data without the excessive cost and complexity of high-end CPM solutions like Oracle or Cognos. Darrell contends that the ability of modern software to reduce implementation costs and time to value significantly lowers the risk and improves the ROI of moving away from fragmented tools like Excel, which is still used by 70% of customers despite its well-known flaws. As a CFO, Darrell's playbook for scaling a business involves building a robust foundation, often focusing on the FP&A function, to support scale. When entering a new role, he prioritizes areas for the highest impact, which often involves enhancing communication with the board, developing stronger KPI reporting, and building agile budget/forecast models that incorporate more data to ensure team alignment. He stressed that the budget and forecast process is primarily designed to "align the team" towards shared objectives. When analyzing data, he advises finance professionals to speak the language of the operational teams they support and provide ideas on levers they can influence, rather than simply pointing out cost overruns. In terms of data quality, he offers a pragmatic view: finance people should not insist on 100% accuracy in areas like sales and marketing data, as 80% accuracy can still yield highly valuable insights that drive action. This detailed data analysis is critical, especially when calculating SaaS KPIs like LTV to CAC; drilling down to customer cohort levels is necessary to avoid mismatching acquisition costs and revenue streams, potentially revealing unexpected profitability or illuminating highly productive channels. Darrell views the modern CFO as a "storyteller" who must "collect all your data, sift through it, organize it, [and] find the patterns". The communication of this story requires art, distilling complex metrics into a few important, positively framed points that resonate with the specific audience, whether internal teams, the board, or investors. The core of effective storytelling is aligning with the company's and the individual stakeholder's objectives, aiming to help them "get there faster" or even help them achieve their bonus. Looking forward, Darrell suggests the CFO is evolving into a "Chief Metrics Officer," who masters all metrics, drives performance, and balances the essential task of mitigating risk with focusing on performance maximization. His personal "secret sauce" for success is embracing "the struggle"—always pushing hard, maintaining creativity, and maximizing technology to attempt things others deem too difficult. He sees the current landscape, rife with technological innovation like AI and new CPM tools, paralleling historical periods of rapid development, reinforcing the importance of continuous learning and pushing limits. Chapter Summary (00:01:03) CFO Background and Data Focus: Darrell shares his career theme: leading growth companies by consistently "push[ing] the limits" on data. He integrates non-financial data with financial data into the FP&A function to drive performance, which he views as the most valuable aspect of his career. (00:03:07) Una: Solving Data Integration: Una Software solves Darrell's previous data integration challenges, enabling revenue-connected planning. Targeting the mid-market (defined as $50M–$500M revenue), Una offers modern solutions that significantly lower the cost and risk of implementation compared to older, complex CPM systems. (00:06:22) The CFO Scaling Playbook: The playbook focuses on building a robust finance foundation for scale, prioritizing FP&A and enhancing KPI reporting. The budgeting process is crucial to "align the team". Finance must speak the language of operational teams and provide actionable, solution-oriented advice. (00:10:07) Data Pragmatism and Deep Dives: Data priority aligns with core business objectives. Finance should accept that 80% accuracy in operational data (like sales metrics) is sufficient for valuable insights. Detailed analysis (e.g., LTV to CAC by customer cohort) is necessary to avoid mismatched costs and make productive decisions. (00:21:25) Storytelling and Metrics Mastery: The CFO must be a "storyteller," organizing data to find patterns and communicating the truth effectively. Communication requires positive framing tailored to help stakeholders meet their objectives. Darrell projects the role is evolving into a "Chief Metrics Officer". (00:35:56) Secret Sauce: The Struggle: Darrell's personal principle is embracing "the struggle," continuously pushing hard, maintaining creativity, and never settling for contentment. He attributes success to maximizing technology use for difficult tasks, aiming for the "highest possible level". Books Mentioned in this Episode The Innovators: How a Group of Hackers, Geniuses, and Geeks Created the Digital Revolution by Walter Isaacson https://www.amazon.com/Innovators-Hackers-Geniuses-Created-Revolution/dp/1476708703   Resources:   https://unasoftware.com/     Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com   Follow our host:           Peter Ho https://linkedin.com/in/peterhocm       Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

    40 phút

  5. 4 THG 8

    The Humanly Story: AI, Growth, and the CEO's Journey

    The podcast interview features Prem Kumar, founder and CEO of Humanly, an AI-powered recruiting platform. We delve into Prem's journey, the origins of Humanly, its business model, market positioning, recent funding, and the ethical integration of AI in recruitment. Prem's inspiration for Humanly stemmed from his personal experience as a job candidate in 2006, where he observed a lack of communication and inconsistent interview processes in high-applicant-volume roles. Later, working at Microsoft's HR Solution delivery team, he recognized that hiring teams lacked the technology to engage with candidates at scale, often only reviewing 5% of applicants. Humanly was founded about five years ago to address this problem, using AI and machine learning to engage, screen, and process high volumes of candidates, ensuring they get to the right talent faster. Humanly operates on a SaaS product model, targeting mid-sized to enterprise companies with high inbound applications that pay significantly for recruitment marketing but lack engagement tools for the volume they attract. The company focuses on entry to mid-level roles (0-7 years experience) across various industries where applicant volume is high, such as deskless workers or first/second jobs at accounting firms. Humanly aims to automate phone screens and engage 100% of candidates within hours, significantly reducing time to hire from 44 days to about 5 days, thus offering substantial ROI. Humanly recently closed a $7 million funding round, driven by a strong Q4 and the continued support of its lead investor, Drive. This funding is primarily aimed at scaling its go-to-market team and further developing its product. The team currently comprises 36 people, with product and engineering primarily in Seattle and a deliberate small engineering team in Vietnam, leveraging talent and cost efficiencies. Prem emphasizes that Humanly's approach to AI in recruiting is about augmenting human intelligence, not replacing it. He believes AI helps recruiters focus on strategic tasks by automating time-consuming ones, ensuring all candidates receive engagement rather than being ignored. The company is "problem-obsessed," using AI ethically and safely to meet user needs, measured by candidate experience ratings and customer retention. Prem also touched on his personal challenge of balancing work and life, managing this by prioritizing a small list of essential tasks weekly and daily Key Takeaways 1. Obsess over the Problem, Not the Solution: Prem Kumar's inspiration for Humanly stemmed from his personal frustration as a job candidate in 2006, facing a lack of communication and inconsistent interview processes for high-volume roles. He later observed similar systemic issues within Microsoft's HR teams. Prem emphasizes the importance of being "problem-obsessed" rather than solution-obsessed. By deeply understanding a significant, unaddressed pain point in the market—the inability to engage with candidates at scale—Humanly was able to develop an effective AI-powered solution. 2. Validate Your Market and Clearly Demonstrate ROI: Humanly targets mid-sized to enterprise companies with high inbound applications that struggle to engage with the volume of candidates they've attracted. Entrepreneurs should seek out "big enough" and "attainable" markets . Humanly provides a clear return on investment (ROI) by automating initial candidate engagement and screening, significantly reducing the time to hire from 44 days to approximately 5 days. This quantifiable value proposition is crucial for attracting and retaining customers. 3. Integrate Technology Strategically and Ethically: While Humanly relies heavily on AI, Prem stresses that their approach is about augmenting human intelligence, not replacing it. AI automates tasks that recruiters often don't have time for, like engaging with 100% of applicants, allowing human recruiters to focus on more strategic activities and human connection. He also highlights the critical need to deliver AI solutions in a "safe, ethical way" that builds user trust, especially given the public's skepticism towards AI. 4. Foster Strong Investor Relationships and Prioritize Predictability: Humanly's recent $7 million funding round was significantly supported by their lead investor, Drive. Prem advises maintaining a "really strong" relationship with investors, even through challenges, as their understanding of your journey fosters certainty. As the company scales, "predictability is extremely important" across all business aspects—revenue, product development, and support—moving from abstract ideas to solid, measurable plans. 5. Master Personal-Professional Balance and Intentional Prioritization: Prem emphasizes the importance of setting clear expectations with co-founders who share similar life situations, fostering empathy and mutual support. To manage his demanding schedule, he keeps his daily and weekly priority lists "really small," focusing on just one to two essential tasks per day and three to five for the week. This disciplined approach ensures focus on the most impactful work and helps maintain a sense of balance.   Chapter Summary (00:01:05) Humanly's Origin: Prem Kumar, Humanly's CEO, created the AI recruiting platform to solve candidate engagement issues at scale. His own job search and Microsoft experiences revealed only 5% of applicants were engaged, driving this solution. (00:04:23) Business Model & Market: Humanly's SaaS platform helps enterprises engage 100% of applicants, reducing time-to-hire to 5 days. They target high-volume, entry/mid-level roles with automated screening. (00:09:14) Funding & Scaling: A $7 million funding round will scale Humanly's go-to-market and product development. Their 36-person team is strategically located in Seattle and Vietnam for talent and cost efficiency. (00:17:12) Strategic Ops & Ethical AI: For growth, predictability is crucial. Prem emphasizes "problem-obsessed" AI, augmenting human intelligence ethically. Key metrics like candidate experience and retention guide their AI-driven approach. (00:31:14) Entrepreneurial Balance: Prem manages work-life balance by keeping daily (1-2) and weekly (4-5) priority lists "really small," focusing on essential tasks during peak energy times for well-being. Books Mentioned in this Episode The Hard Thing About Hard Things by Ben Horowitz https://www.amazon.com/Hard-Thing-About-Things-Building/dp/0062273205 The CEO's Mindset by Vinnie Fisher https://www.amazon.com/CEOs-Mindset-Break-Through-Level/dp/0990995534   Resources: https://www.humanly.io/     Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com   Follow our host:           Peter Ho https://linkedin.com/in/peterhocm   Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

    37 phút

  6. 15 THG 7

    Scaling with Intent: UrbanSitter's Prescriptive Funding Strategy, M&A, and Evolution in the Care Market

    Lynn Perkins, founder and CEO of UrbanSitter, discussed her journey in building a trusted care platform. Her inspiration for UrbanSitter stemmed from a personal need for childcare and the idea to leverage social connections to replicate word-of-mouth trust online. Unlike many marketplaces, UrbanSitter operates on a subscription model for families and providers, which helps to maintain high-quality interactions and prevent disintermediation. Trust and safety are paramount in their high-trust business, ensured through annual background checks, identity verification, and by highlighting "repeat family" bookings as a key objective measure of a caregiver's reliability. Regarding capital allocation, Perkins emphasizes a "prescriptive, intentional" approach, ensuring each funding round has clear use cases and defined outcomes. She observed a significant shift in the investor climate, which now demands "real business metrics" such as product-market fit, low customer acquisition costs, and strong customer retention, indicating a departure from previous periods where funding was more readily available for unproven ideas. UrbanSitter's corporate business has seen substantial growth, now contributing approximately 40% of their revenue, fueled by increased employer interest in care benefits post-COVID-19, which also synergizes with their consumer services. The company has strategically utilized M&A for product expansion, such as with Sitter and Kinside. A critical success factor in M&A, according to Perkins, is ensuring a "strong cultural fit" for seamless team integration. She noted that M&A can be a compelling alternative to building in tougher fundraising environments. Currently, Perkins is focused on navigating corporate spending uncertainty and proactively exploring AI's potential to enhance product, content, and internal efficiencies. Key Takeaways 1. Solve Real Problems and Leverage Networks: Lynn Perkins' inspiration for UrbanSitter came from her personal need for trusted childcare, emphasizing the power of leveraging social connections to "replicate that either word of mouth trust" online. Founders can find strong purpose and market understanding by addressing problems they personally experience or observe within their networks. 2. Be Intentional with Capital Allocation: For finance executives and founders, Lynn stresses being "very prescriptive, very intentional" when raising and deploying capital. Each funding round should have clear, defined objectives, whether for market expansion, proving organic growth, or specific product development. It's also vital to "know when it's not working and pull back" to reallocate funds effectively. 3. Adapt to Evolving Investor Expectations: Lynn highlights a significant shift in the investor climate towards a "more rigorous set of criteria". Investors are now primarily seeking "real opportunities," founders who "can operate and achieve success," and "real business metrics" such as product-market fit, low customer acquisition costs, and strong customer retention. This means companies must demonstrate fundamental viability with "real data" . 4. Strategic M&A Requires Cultural Fit: Lynn's experience with Sitter and Kinside illustrates M&A's role in scaling and product expansion, particularly when weighing a "buy versus build" decision. A critical lesson is the paramount importance of a "strong cultural fit" to successfully integrate teams post-acquisition. M&A can be especially attractive in challenging fundraising environments. 5. Prioritize Trust and Data in High-Trust Models: In a high-trust sector like care, Lynn emphasizes that "trust and safety on both sides is paramount". UrbanSitter builds this through rigorous annual background checks, identity verification, and by actively leveraging performance data.   Chapter Summary (00:01:05) Founding & Trust: Lynn Perkins launched UrbanSitter to address her own childcare needs, building a subscription-based platform. Trust is vital, achieved through background checks and emphasizing "repeat family" metrics as a key signal of reliability. (00:09:57) Capital Strategy: Lynn advocates "prescriptive, intentional" capital allocation, linking funds to clear goals like market expansion or achieving cash-flow positivity before COVID-19. (00:13:34) Investor Climate Shift: Investor expectations have shifted to "more rigorous criteria," demanding "real business metrics" and data like product-market fit and customer retention. (00:17:05) Corporate Business Growth: UrbanSitter's corporate business now comprises ~40% of revenue, growing post-COVID by offering essential care benefits that synergize with consumer services. (00:20:51) Strategic M&A: Acquisitions like Sitter and Kinside drive product expansion, prioritizing "strong cultural fit" for seamless integration and faster scaling, especially in tough climates. (00:27:57) Future Focus: AI & Team: Lynn focuses on team dynamics and navigating economic uncertainty. She sees AI as a positive opportunity for product and internal efficiency, encouraging team exploration.   Resources: Turn the Ship Around by L. David Marquet https://www.amazon.com/Turn-Ship-Around-Turning-Followers/dp/1591846404 UrbanSitter https://www.urbansitter.com/   Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com   Follow our host:         Peter Ho https://linkedin.com/in/peterhocm       Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

    36 phút

  7. 9 THG 7

    Cracking the Glioblastoma Challenge: A CEO's Journey in Brain Cancer Treatment

    John Climaco, Chairman and CEO of CNS Pharmaceuticals, elaborates on his company's dedicated mission in the research and development of new cancer treatments for the brain and the central nervous system. Climaco, an experienced entrepreneur, was drawn to the immense challenge of glioblastoma, referring to it as an "uncrackable nut" and "the toughest of the tough". He explains that glioblastoma multiforme is the most common and deadly primary brain cancer, which is "essentially uniformly fatal" and often degrades a person before their body succumbs. The standard of care for this disease has remained largely stagnant for the past two decades, and it continues to be a "black box" in oncology with no known precursors or biomarkers. The primary obstacle in treating brain cancer is the blood-brain barrier, a highly protected sanctuary that makes it "very, very difficult to get therapies through". While glioblastoma tumors are vulnerable to conventional chemotherapies in laboratory settings, their location within the brain, shielded by this barrier, renders them largely untouchable inside the body. CNS Pharmaceuticals addresses this by focusing on molecules specifically designed to bypass this protective network. Their "back to the future" approach involves two unique compounds: Berubicin, a novel anthracycline, and TPI 287, a novel taxane. Both are distinguished by their ability to cross the blood-brain barrier, unlike other drugs in their respective classes. These drugs aim to provide much-needed options for patients experiencing their first disease recurrence, where current therapeutic choices are severely limited. In terms of development, CNS Pharmaceuticals is advancing a Phase 2 clinical program for TPI 287, with plans to begin dosing patients in the first quarter of the next year and anticipate data by early 2027. They are also closely monitoring the FDA's potential new pathway for "conditional approval," which could be particularly relevant for drugs like Berubicin. Berubicin recently completed a global study showing a 30% improvement in overall survival in patients, although it did not meet the primary endpoint for statistical significance required for traditional approval. This conditional pathway is specifically intended for rare diseases with few to no treatment options, a description that perfectly fits glioblastoma patients. Climaco highlights the company's lean operational philosophy, with a small team of only five remote members, ensuring that "all of the money gets poured into the programs" rather than extraneous infrastructure. This focus is paramount given the significant capital burn rate inherent in drug development. Their approach to risk mitigation emphasizes a highly collaborative and senior team that is encouraged to challenge assumptions and adapt course as needed, fostering a culture of humility and continuous improvement. The decision to fund the company through public markets, rather than venture capital, was deliberate. Climaco notes that public funding has allowed them to continue financing their challenging work, especially given the historical reluctance of venture capital to invest heavily in glioblastoma due to high failure rates. Key performance indicators monitored include patient recruitment during trials and maintaining sufficient cash reserves. Despite the constant headwinds and inherent risks of their business, Climaco expresses that he sleeps well at night, knowing that they are "doing our very best" and remain true to their mission. He draws inspiration from the patients who face long odds with deep acceptance, stating that if they can accept what's out of their control, then he can certainly "accept what's out of mine". Key Takeaways 1.      Cultivate a Laser Focus and Embrace Immense Challenges: Climaco stresses the importance of having a "laser focus on our mission" and being drawn to "doing stuff that nobody's ever done before". He specifically chose to tackle glioblastoma because it was an "uncrackable nut" and "the toughest of the tough". For founders, this suggests identifying and passionately committing to a significant problem, ensuring that all efforts are aligned with a singular, clear objective, especially when facing long odds and high failure rates. 2.      Operate Lean and Optimize Capital Allocation: CNS Pharmaceuticals runs a "really lean shop" with only five remote team members and no physical office, ensuring that "all of the money gets poured into the programs". Climaco advises against building to scale during periods of abundant capital, as this can lead to difficulties when markets tighten. This highlights the critical importance of disciplined capital management, minimizing unnecessary overhead, and directing resources primarily towards core value-driving activities, particularly in capital-intensive and long-lead-time industries like biotech. 3.      Foster a Culture of Collaborative Humility and Continuous Adaptation: Climaco emphasizes building a senior team that engages in "true collaboration" and is willing to "question some of your assumptions". He advocates for regularly re-examining assumptions that might "morph into a fact" over time, even if it means acknowledging past mistakes and "changing course". This encourages CEOs to create an environment where diverse perspectives are valued, assumptions are rigorously challenged, and the team is agile enough to correct course for optimal results, regardless of when an error is identified. 4.      Strategically Choose Funding Sources and Maintain Resilience: CNS Pharmaceuticals deliberately chose public markets over venture capital, recognizing that the "odds are really long" for glioblastoma research, making private financing challenging. This approach allowed them to "continue to finance the company". Climaco also highlights the importance of personal resilience, stating he sleeps well knowing they are "doing our very best" and are true to their mission, drawing inspiration from patients' "deep acceptance" of their circumstances. This underscores the need for founders to select funding avenues that best suit their unique project's risk profile and to cultivate a mindset of unwavering dedication and acceptance of factors beyond their control.   Chapter Summary (00:01:04) - CEO's Career: John Carmichael, CNS CEO, details his entrepreneurial path, leading to CNS's 2019 public listing, focused on glioblastoma. (00:02:60) - Glioblastoma Challenge: This fatal brain cancer is hard to treat; drugs struggle to cross the blood-brain barrier. Few companies tackle this "black box". (00:08:09) - CNS's Unique Drugs: CNS develops unique chemotherapies, Berubicin and TPI 287, designed to penetrate the blood-brain barrier, unlike other established drugs. (00:13:56) - Development Progress: TPI 287's Phase 2 starts Q1 next year. Berubicin showed 30% improved survival, now targeting new FDA conditional approval for patients with limited options. (00:17:15) - Lean, Publicly Funded: CNS operates with a small, remote team, directing capital primarily to drug programs. Public funding is chosen for consistency over venture capital. (00:20:37) - Risk Mitigation: Risk is managed by a collaborative team that questions assumptions and adapts strategy. This ensures efficient trial execution. (00:30:25) - Focus & Motivation: Key metrics are patient recruitment and cash flow. John is driven by glioblastoma patients' resilience, embracing the mission's difficulties.   Resource Mentioned in this Episode New York Times Podcasts https://www.nytimes.com/spotlight/podcasts CNS Pharmaceuticals https://cnspharma.com/     Stay Updated Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com   Follow our host           Peter Ho https://linkedin.com/in/peterhocm       Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

    38 phút

  8. 1 THG 7

    AI in Healthcare: Cuezen's Approach to Driving Behavioral Change

    Sunil Shinde, a product leader and co-founder at CueZen, was the guest on the Value Drivers podcast. He shared insights into CueZen's mission, its innovative use of AI in healthcare, and his professional journey, which includes past roles at Microsoft and Harman. Sunil began his career in India with Microsoft before migrating to the United States. He spent a significant portion of his early career helping customers build IP using cost-effective offshore models. In 2016, he made his first foray into AI and healthcare by joining his current CEO, Ankur, at an earlier startup called KenSci, which later had an exit with Providence in 2021. His experience includes leading AI-based Precision Population Health and Customer Success at KenSci, and prior to that, he was a VP at HARMAN International, creating strategic opportunities with Microsoft for voice-activated agents in cars. At CueZen, Sunil is actively building an AI engine to drive better health outcomes through behavioral change. CueZen addresses both the "wellness" and "illness" phases of health, aiming to help individuals navigate complex health situations by providing personalized coaching. In a crowded market, CueZen differentiates itself from larger tech companies that tend to create "walled garden" ecosystems, like Apple. Instead, CueZen strives to be platform agnostic, device agnostic, and health enterprise type agnostic, creating a product that can be used by anyone and everyone. As a B2B company, their customers are primarily health enterprises, including payers, providers, pharma, wearables, retail health, and telehealth. AI is front and center to CueZen's operations. They aim to keep AI invisible in their offering, using it in a non-intrusive, safe, and responsible manner, primarily for automation where human power cannot scale. CueZen sends out billions of digital interventions daily to members and patients, a scale only possible through the right application of AI. The North Star for CueZen is human behavior change. Their recommendation engine serves personalized suggestions based on various inputs, aiming for these recommendations to convert into actions that, with repetition, become habits and lead to positive health impacts. Measuring success involves tracking if recommendations are taken, if actions are repeatedly performed, and if the message was delivered at the right time, right place, with the right tonality. Sunil also highlighted that CueZen aims to bust the myth that health technology is only for specific cohorts. They have found that every individual is a consumer of this technology, emphasizing the importance of finding the right time and tonality for interventions. He noted that even individuals 65 and older, often perceived as non-technical, are "very well tuned to listening" once trust is built.   Key Takeaways Focus on a clear "North Star" and tackle complex human problems: Sunil Shinde highlights that human behavior change is the "North Star" for CueZen , as they build an AI engine to drive better health outcomes by influencing behavior. This involves serving personalized recommendations that convert into actions and eventually habits, leading to positive health impacts over time. For entrepreneurs, this underscores the importance of having a profound mission and being prepared to solve deeply intricate, long-term challenges that can yield significant value, even if immediate results are not apparent. Differentiate by embracing platform agnosticism and broad accessibility: In a market where large tech companies often create "walled gardens" to lock users into their ecosystems, CueZen strategically sets itself apart by aiming to be platform agnostic, device agnostic, and health enterprise type agnostic. This approach ensures their product can be utilized by "anyone and everyone" within the diverse healthcare ecosystem, including traditional payers, providers, pharma, and newer entities like wearables and telehealth. This provides a valuable lesson for entrepreneurs on finding competitive advantages through interoperability and wider market reach, rather than restrictive proprietary systems. Leverage AI responsibly and invisibly for scalability: While AI is "front and center" to CueZen's operations, it is intentionally kept "invisible" within their offering. The AI's primary function is automation where human power cannot scale, enabling CueZen to send billions of digital interventions daily. This responsible and non-intrusive application ensures that technology enhances the human touch rather than replacing it, particularly crucial in sensitive sectors like healthcare. This takeaway emphasizes for entrepreneurs the strategic application of AI to overcome limitations of scale while maintaining a seamless and trustworthy user experience. Cultivate daily resilience and perseverance in the face of challenges: Sunil openly shares the demanding reality of startup life, admitting to moments of feeling "completely broke, beaten up, lost, helpless, hopeless". His crucial lesson for staying motivated is the importance of "letting night happen" and "letting sunrise happen," then "pulling yourself back every day" to "put yourself back in business". This powerful personal philosophy highlights that consistent daily effort and the unwavering habit of pushing forward, even when progress seems impossible, are "massive" contributors to entrepreneurial success.   Books Mentioned in this Episode From Cairo to Beirut by Sunil Shinde https://www.amazon.com/Cairo-Beirut-Footsteps-Expedition-through/dp/163405024X   Resources: www.cuezen.com     Stay Updated: Please visit Brio360 on other episodes and resources on driving value creation https://brio360.com   Follow our host:           Peter Ho https://linkedin.com/in/peterhocm       Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.

    25 phút
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Corporate executives, entrepreneurs and authors discuss corporate finance strategies, growth tactics, leadership journeys and other management topics to drive value creation.

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    Value Drivers