You’re ready for epic media coverage. You’ve got big news brewing, you’re ready to startup fundraising, or you simply know you need to start early to build the type of relationships that generate impactful coverage.
That’s all great – you’re ahead of the curve. Especially if you’re thinking about this early, before you’re scrambling to “smile and dial” and cajole anyone who will listen into writing about your world-changing innovation.
But, where do you start? Which journalists and influencers matter? What beats do they cover? How do you even find them? How do you contact them?
You’re in luck. At Spry, we’ve seen back-to-back requests for precisely that information: which journalists and influencers cover the startup beat today?
So, we made the Complete Startup Media List available for instant download:
And, for good measure, we did the same for blockchain.
Access the Complete Blockchain Media List instantly:
Both lists feature the 60 most influential journalists, how to connect with each, the angles of their recent coverage, and much more.
Think of it as an instant blueprint for jump-starting the process of securing epic PR results.
But, the media landscape changes constantly – so these lists are only available for the next 2 weeks!
Spry is the world’s first on-demand public relations (PR network), pairing your PR needs with the right PR and journalism talent.
Access Spry via the app store: https://apple.co/2FW12I1
For startups, an underwriter asking for financial statements can seem invasive when searching for D&O (Directors & Officers) Insurance. So why do they ask? I talked to a few of my favorite underwriters to learn more about why the financial health of any startup is the #1 driver for a carrier to offer D&O terms and how it will affect your premium. Read on to learn why asset size, funding, revenue and profitability can account for 80-90% of your premium rating.
Most carrier underwriters rate D&O premiums primarily on asset size. Asset size shows D&O carriers how much money is at stake if a claim is made. In cases where a young startup has not raised funds, has little revenue and does not carry any assets, an underwriter will still want to know how the company will sustain itself moving forward.
Pro tip: If you are in the ‘No assets and no revenue’, stage be sure to communicate your plans to fundraise or support growth for the next 12-18 months.
Revenue is also taken into consideration but not as heavily weighted as assets. It is okay for young companies to be pre-revenue, but keep in mind an underwriter will want to know how you plan to sustain yourself as your startup progresses. For more established companies, a positive growth trend is assumed. However, if it is negative, everyone starts screaming, ‘May Day!’ It would be hard to find a home for a company with a negative growth trend, and the terms would not be favorable even if it is offered unless there is a really compelling explanation.
Pro tip: For an early stage company, be sure to use realistic numbers for your pro forma and communicate your plans to support those projections.
Profitability matters to a certain extent but mostly as it relates to the potential of an ongoing concern. Carriers want to see that the organization is not operating at a loss for too long. They also want to see light at the end of the tunnel. An underwriter will want to understand if you will have enough cash to sustain operations for the next 12-18 months.
Pro tip: If there are situations such as heavy upfront R&D prior to going to market, be sure to relay this to the underwriters so they understand your plans moving forward.
First of all, congrats! Second, funding changes everything. From a financial perspective, it will positively affect assets after a large seed round or Series A. Ideally, the funding will also help drive revenue. Having more assets and a plan to drive growth gives an underwriter confidence in your future success. On the flip side, there is more at stake because of the new boost in assets on the balance sheet and the high expectations from your investors.
Pro tip: Don’t be surprised if an underwriter asks for both pre-funding and post-funding financials.
A company’s directors and officers have a huge responsibility for the financial health of a company. This is the largest indicator of future success. Be sure to be open about your plans for future growth and communicate if any of these indicators are trending negatively. It will help an underwriter understand how you will sustain yourself for the foreseeable future and hopefully, will translate to favorable terms or lower rates for your company’s D&O.
Learn More about the ATC Blog Contributor…
THE INSURANCE WORLD IS COMPLEX.
LUMEN GUIDES YOU THROUGH THE PROCESS SO YOU CAN FOCUS ON BUILDING YOUR COMPANY.
Any business person, undoubtedly, wants their company to be successful, profitable, even booming. Those in the Medical Device Manufacturing industry are no different. However, Medical Device Manufacturers have some looming profitability pressures on the horizon.
The rise in healthcare costs means it’s even more crucial for health organizations to reduce their own costs by optimizing processes and procedures. In short – “do more with less” is being passed from healthcare organization back through the line to the Medical Device Manufacturers.
Reduced production costs are crucial for competitive bids between Medical Device Manufacturers to secure government contracts that are advantageous to the company. Many healthcare providers are shopping around this expanded market to find the best deals.
Turning to cloud-based solutions, forming different partnerships, and keeping a team of professional, high-valued and qualified members are ways to keep quality standards up while still conforming to all regulatory requirements.
Finding Solutions In The Cloud
Medical Device Manufacturing companies are not immune to the need for cloud-based business applications. In fact, Amazon’s data center has a HIPAA focus that allows for medical cloud-based software. (Such softwares include ERP, DAM, PLM, SCM, CRM, and others.)
Cloud-based solutions are becoming a part of daily business routines unlike they ever were. This means fantastic benefits for the Medical Device Manufacturing industry. Cloud-based solutions cost less to set up and maintain. These solutions are also a way to gain process optimization and achieve operational and cost efficiency that providers demand.
There’s also the matter that because of the IoT, data is easily collect and then shared across a vast product development network. Accepting and processing feedback up the supply chain through a system is the best way to use this advantage. Since this sort of system collaborates and shares data, it just makes sense to find that solution in The Cloud.
Push For Change
The FDA’s initiative for UDIs is a huge driving force behind the changes taking place in the Medical Manufacturing community. Along with the persistence from the FDA, many medical device buyers have concluded these Unique Product Identifiers aid with driving inventory and supply efficiencies.
Another push is the global acceptance of GS1, which focuses on increasing transparency and reducing errors. This regulation is already widely accepted as a standard in major healthcare markets, so for many Medical Device Manufacturing companies, this means going “with it” isn’t really an option.
AIDC (Automatic Identification and Data Capture) systems meet these GS1 objectives. These processes use computers to enter and collect data without the need for human intervention. This integration has the opportunity to dramatically cut costs in both labor and liabilities.
A Diverse Support Network
The Medical Device Manufacturing world has an increasingly abundant supply of stakeholders looking to assist with startups. Medical industry leaders continue to form partnerships with technology suppliers in order to provide necessary solutions for providers. This means this industry is HOT right now.
Major organizations know this already and that’s why they are making moves and investing to stay ahead. This also means the market is going to get a lot more flooded. As more startups are funded and partnered with big-name players, costs of traditional healthcare will continue to drop.
With a flooded market, there’s the need to not lose quality of work. How can you be sure your company is ready to take on the necessary changes without compromising integrity? Finding highly qualified candidates to enhance the value of your team is of the utmost importance. A company is only as good as the workmanship and quality behind it.
Building Your Team
Your Medical Device Manufacturing company likely has a lot of changes coming in the next few years. You want to be sure you have the right team to back you on this journey. New compliances, procedures, and requirements mean your professionals need to be prepared!
Continue the cost-cutting trend… Lower your own company costs for hiring and training new staff to meet these industry changes. Finding trained professionals is what we do at Charsky Group! Our superior staffing solutions are flexible and tailored to meet your company needs.
Adding value to your company is what we do best!
Contact our top recruiters to assist you with finding the right candidates to add to your team!
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We realize the need for a firm that supports aviation, engineering, electrical, technological, telecommunications and the companies that support government contracting. We pursue the connections of qualified, highly skilled job seekers with the companies that need you! Our focus is to deliver career pathways with lasting results.
Backed by Eric Charsky, a seasoned leader from the field at the helm, Charsky Group brings proven results to the table. In today’s business world, we have many options and competitors to choose from, but few firms focus on such expansive, yet rounded, recruiting and staffing experiences that are tailored to fit your company perfectly. Eric has trained his staff with a target on both the client and candidate’s needs. We are a Service Disabled Veteran Owned Small Business, proudly upholding an environment that fulfills immediate needs for Veterans, as well as aiding in the growth of companies that support Veteran focus.