6 tips for landing press coverage for Houston entrepreneurs, business owners

Guest column

Want to secure press coverage on your company this year? Here's what you need to know. Photo via All You Need Method

If you’re looking to build brand awareness, establish trust and credibility, and reach more customers in 2023, landing a press placement can be impactful for your small business. A traditional PR placement, also known as “earned media,” is one of the most valuable endorsements for a business, and you do have to earn it.

The good news is that in today’s digital landscape you don’t need a PR agency or consultant to land press coverage, you can pursue media coverage on your own. By prioritizing your brand foundation and telling your brand story through your owned channels (such as your website, newsletter and social media platforms), you can capture the attention of the media. Pair a strong brand and storytelling with the appropriate tactics for working with editors, and you will be set up for success.

Read our insider tips below to help you secure press coverage for your business this year.

1. Good PR starts with your brand

If you’ve ever wondered how to catch the attention of an editor, it starts with your brand — and by brand, we don’t just mean your branding (logo, colors, fonts, etc.) — although that is one component.

Good PR starts with a good story, one that is unique and differentiated. Editors are looking for more than just a product or service – they are looking for something special and new that their readers will benefit from.

Building your brand is about establishing the personality and story behind your business that goes beyond sales and promotions. Taking the time to build your brand is one of the best investments you can make as a small business owner. Not only will it help with your PR and marketing efforts, but it will also support your overall long-term success.

Building a brand foundation and learning how to tell your brand story includes your company positioning, your values, articulating what makes you different, crafting your founding story, refining your visual aesthetic and tone of voice, and much more.

Being able to communicate what makes you different, what you stand for, what you have to offer, and what you want to be known for – and developing a brand aesthetic that reflects your unique point of view – will allow you to stand out from the competition and capture the attention of the media.

2. Tell your own story

In our digital world brands are being discovered online. This means that your website and Instagram channel are often the first impression of your business to both consumers and editors. That said, it’s essential for your success that your digital presence communicates and reflects your brand foundation – the personality and substance behind your business. One question to consider is if your ideal customer or editor came to your website or Instagram for 30 seconds, would they walk away knowing the three most important things about your business and with a clear idea of what you stand for, what makes you different, and what you have to offer?

Your owned channels also provide an exciting opportunity to connect directly with your ideal customers, influencers, potential partners, as well as the media. By sharing your brand narrative consistently across your owned channels, you have the potential to build a meaningful relationship with your audience that can grow into loyal followers and customers.

The key is communicating consistently – you want your brand to be cohesive across all channels, so that everything from an Instagram post to your homepage reflects the unique brand positioning you’ve established. To achieve a consistent brand narrative, you want to make sure your messaging, photography, copywriting, graphics, and any other creative materials reflect the brand foundation you’ve built.

An invaluable practice at any stage of business is to conduct a brand audit in order to evaluate if your digital channels are communicating your brand foundation effectively. Read our three steps for conducting a brand audit here.

3. Draft and organize your materials

Drafting and organizing materials is one of the first tasks to tackle when preparing to reach out to the media. Editors are inundated with emails (thousands and thousands a day) and receiving easy-to-review dropbox links and files makes their job much easier. A lengthy email without a clear hook is a sure way to end up in someone’s Trash folder and left unread.

We cannot express enough how important photography is for securing press. Many publications rely on a brand’s photography. Without images it is oftentimes impossible for an editor to cover a brand. This goes for your personal brand too - if you’re an expert or offer a service, you will also need to provide a professional headshot or lifestyle image. Brands with consumer products will also need to show product photography.

There are a wide range of materials you may need based on your industry, but here are the essentials:

  • About page: a one-page document outlining the who, what, when, where, and why of your company
  • Bio: an overview of your background and why you started your company, with a few personal details
  • Line Sheet: images, pricing and key details for product collections
  • Product photography: Lay flats of your product on a white seamless background
  • Lifestyle photography: Images that bring your product or service to life by showing them in use
  • Headshot: Professional photo of the founder or expert styled in a way that is relevant to the brand. I.e. if you’re a chef or a nutritionist, take your headshot in a beautiful kitchen, if you’re an artist or interior designer take your headshot in your studio

4. Research, research, research

We often get asked how to know who to reach out to. Every publication is different, which is why research is very important. Taking the time to properly research will save you a lot of time in the long-run and allow you to pinpoint which outlets and contacts are the best fit for your business. As you research, be sure to organize contact information and notes into a media list so you can keep track of who to reach out to and any feedback you receive.

We have a free media list template that you can download here.

When researching, keep these four tips in mind:

  • Be targeted – Focus on publications whose audience matches your own and who feel like a fit with your brand aesthetic and values
  • Scope out the competition - Where have your competitors, or brands and experts you admire, been featured?
  • Read recent articles - Whether you pick up magazines or do a Google search, look and see who has been writing about brands or other experts in your industry lately. When you use Google Search, use the Tools option to narrow down your search to articles in the past 6 months or year.
  • Look at the masthead - A magazine’s masthead is a list of its editorial staff and can give you helpful insight into who covers which category. You can usually find a masthead online, or in the front pages of a print publication.

5. Think like an editor

Editors are looking for interesting stories, new items, and pieces that will pop on a page. They work off of editorial calendars, and many magazines have set themes for each month. You can Google a magazine’s editorial calendar to find out their upcoming themes and think about where there might be a fit for your product or service, or for you as the founder of your business.

To think like an editor, keep these three tips in mind:

  1. Utilize Editorial Calendars. Most reputable magazines, outline outlets, and even blogs, share an annual “editorial calendar” on their website. Editorial calendars outline the theme for each issue, the date the issue comes out, and the topics they are covering. While editorial calendars are technically created for advertisers, they are an invaluable free resource for PR planning if you know how to use them to your advantage.
  2. Learn Lead Times. Be sure to keep what PR professionals call “lead times'' in mind. There are two main categories most publications and media outlets fall into: long lead and short lead. Long lead publications are typically glossy print publications or special issues of a newspaper that work about working three to six months in advance. For example, if you want to pitch an item for a holiday gift guide in a December issue (which hits stands in November) you want to be ready to send that information to the publication in July. Short lead publications and/or outlets include daily newspapers, weekly magazines, online outlets, such as digital versions of magazines and blogs, and broadcast news. Their lead times can range from a month in advance, to a week or even less.
  3. Understand What is “Newsworthy” vs. Seasonal/Evergreen. Editors cover what is new and newsworthy, as well as seasonal and evergreen topics that are relevant to their readers. When thinking about what you have to pitch, such as a specific product, consider whether it is evergreen and can be covered at any time, or if it is a seasonal item. This will guide the timing and context of your pitch.

6. Build relationships

Building relationships is incredibly impactful when it comes to landing press placements. Reaching out in a personal way, gifting your product or service, and keeping in touch with editors and writers over time will increase your chances of being covered with the right fit arrives.

When reaching out to editors, what do you have to offer? News? Tips? A cool new product collection to check out? This is not a transactional relationship, think long term and how you can be a resource for this editor or publication beyond what you are pitching at this moment.

Personalization and authenticity are key. Your first email to an editor should not be a “pitch” or a press release, it should be an introduction of yourself and your business. Be sure to research each person in advance and follow them on social media so you can personalize each email – mention a recent article of theirs that you enjoyed reading, or a recent Instagram post on their feed that you found interesting.

If you are able to set up a call, Zoom, or in person meeting, that is ideal for relationship building. We also recommend offering to gift your product or service to contacts at outlets that are on the top of your dream press list. This goes a long way and will allow them to be able to speak about your product or service from firsthand experience.

Lastly, be sure to follow up. If you don’t hear back, there is a good chance they missed your first email. Wait a couple of weeks and send a nice follow up. Remember, this is a long game and it takes time.

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Kathryn Worsham Humphries and Carla M. Nikitaidis are the Co-Creators of All You Need Method, a PR and brand strategy consulting firm for small business owners, creative entrepreneurs, and digital creators who are looking to build a brand and raise brand awareness through PR, content marketing, and partnerships. They offer support through their online course, The Brand Starter Kit, 1:1 Strategy Sessions, and custom client projects.

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Houston medical robotics startup announces $42M series C

cha-ching

A Houston medical device company that's tapping into robotics technology for the operating room has just announced a major chunk of fresh funding.

EndoQuest Robotics Inc. announced that it has closed a $42 million series C to advance its robot technology that's targeting endoluminal and gastrointestinal minimally invasive procedures. Returning investors, CE Ventures Limited and McNair Interests, and new investor, Puma Venture Capital, led the round of funding.

"Our investors share our vision of leveraging robotics to redefine the possibilities in minimally invasive procedures," Kurt Azarbarzin, CEO of EndoQuest Robotics, says in a press release. "This financing enables us to continue innovating and refining our technology, ultimately improving patient care and transforming the future of endoluminal interventions."

The funding will go toward continued research and development, regulatory initiatives, commercialization, and other key initiatives. Dr. Vipul Patel, the co-founder and senior venture partner of Puma Venture Capital, is a robotic urologic surgeon and sees potential in EndoQuest's technology.

"I've had the privilege of seeing just about every robotic surgical system either in development or on the market today and can honestly say that EndoQuest's system is a true game changer for both physicians and patients," Patel says in the release.

Founded in 2017, EndoQuest's robotics technology has not yet been cleared by the FDA and is not for commercial sale in the United States.

"The EndoQuest team is trailblazing novel solutions in minimally invasive surgery," Neeraj Agrawal, executive director of Crescent Enterprises, the parent organization to CE Ventures Limited. "We welcome our new partners, and remain fully supportive of the Company and the prospects to transform healthcare with our innovative endoluminal surgical platform."

EndoQuest Robotics is targeting endoluminal and gastrointestinal minimally invasive procedures. Image via endoquestrobotics.com

Houston expert: How to build startup runway in a choppy venture funding market

guest column

The venture funding market in 2023 has been very tough.

The number of rounds closing is significantly down from the 2022, and a record number of companies are raising. Overall VC fundraising is down, but great deals are getting funded well and at good valuations, while many are struggling. Fewer new investors are writing lead checks and being more cautious when they do, later stage investors are shifting earlier stage to manage risk, bad cap tables, operating plans, and reluctant insiders are killing otherwise good deals, and everyone is working on ensuring their portfolio is in good shape.

This is just another venture cycle. The sky is not falling, the playbook for this cycle was written long ago. But if you are a founder, you may need to take action. If you are less than 15 months of runway, it’s time to go to your investors with a plan. You need to either be well on your way to closing a round, starting your fundraise if the company is ready, know your investor group’s plan to bridge or do an inside round if necessary and what you need to achieve to unlock that, or bring them a realistic plan yourself to get to 18 to 30 months of runway. But whatever you need to do, you need to do it now.

The runway plan

The core of a good runway plan is building a cash wedge by taking a little from everywhere, and drop margin and cash. A little revenues, a little in pricing, a little headcount reduction, a little insider capital, a little new capital, and a little balance sheet help. How much a little is, depends on your own dynamic. The secret to a good cash wedge runway plan is starting early, and doing it now. Every day of delay increases the depth of the changes needed for the same runway – until you reach a point where the brutal burn math just doesn’t work, and the changes become costly or even untenable.

Focus on your customers. Nothing cures runway or fundraising ills like revenue. You’ve built these relationships for a reason. They are taking your calls because they care. If you and your team aren’t spending most of your time with customers right now, you are doing it wrong. Good customers get it. Focus their attention on how your product makes them money, and how much. Support their internal efforts to grow the account. Open book it, raise prices if it makes sense, and ask for more volume or contract extensions at good prices if you can’t. With new customers, focus on getting more phase ones that fit in the budget your champions have available quickly. Bet you and your customer can find more budget later when you’ve demonstrated value to them. Bid every grant and non-dilutive source that makes sense, which builds leverage for yourself and your investors.

Burnmatters. In a tight market, no one likes to buy burn, and demonstrating efficiency of revenue and backlog relative to capitalization and burn level matters. If you’re going to cut (and you probably should), cut much deeper than you think, and do it now. You ran this company when it was four people and no money, you can do it again if you really had to. Start making quick decisions about what you can defer and cut in the near term, there is always an easy 5 to 10 percent of costs you can cut and push to next year, and often a few points that can be pulled from supply chain deals. Overplan for growth, but don’t release to spend until your capital markets plan is clear.

Rebalance your spend. Shift your cost structure and organization chart forward towards the customer. Aggressively expand customer facing lead generation, guerilla marketing, applications engineering and direct sales efforts, at the expense of internally facing ones like R&D, manufacturing, and overhead. Repurpose people, change comp structures, job descriptions, or adjust costs and headcount. Get your team on board with the focus and where your runway is. A 12-person startup has about 2,000 labor hours a month to throw at its problems, 3,000 hours on overdrive, when your runway shortens, it’s time to hurl those at customers. Keep in mind, none of this is permanent, good startup organizations are elastic and in six months you can shift back or add again. You’re only really making 180-day changes here. That’s what the nimble startup means. It’s about runway and quick product and operational shifts.

Hit the balance sheet for cash. Depending on company stage and type, sell any underutilized assets and inventory, defer some capex, put someone on collecting AR and adjust your contract terms and pricing to pull forward cash flow, term out and negotiate payment terms on AP, leases and debt. One huge caveat. Do not take venture debt. Until you are profitable, venture debt does not actually create the runway in the real world that you see on paper, and has killed more good startups on the cusp of greatness. Venture debt is Lucy, runway is the football, and you are Charlie Brown.

Adjust your capital markets strategy. The classic rule is raise all you can when you can, because capital is available most when you need it least. But that’s not the whole story. And founders need to realize it is really dangerous to take a deal to market that is not ready, and doesn’t have the right level of insider support, is priced or structured wrong. While the market sets the price and terms, once you’ve a cap table full of investors, both new and existing investor appetite, and valuation, becomes a partial function of existing and new investor appetite and support. Take out a deal that’s not ready, or with too much burn, too little insider support, too high a last valuation, too large a convert or safe overhang or prior capitalization, too little team ownership, or too much valuation or cash need relative to its team, technology, TAM and traction (and cap table), and a founder and board can turn a good opportunity into a death spiral headed straight off a cliff, fast.

The "Magical 25" percent ratio. This is an art not a science, but the Magical 25 percent ratio on a prototypical startup will give you an idea of how powerful a Runaway Plan can be to get a deal done and reset a founder’s opportunity.

Imagine a middle of the road seed funded SaaS startup, burning $350,000 gross, with $100,000 in MRR, which has raised $3 million in cash from three investors and spent half of it. On its current trajectory it has six months of cash left, and is bankrupt by March. Market turned down, and the initial investor calls don’t result in a lead VC leaning in. The logic of burn rate math is brutal. In 90 days the company is on fumes, and it has no term sheet in hand, with the odds of getting one generally falling. And in today’s market the $1 million in ARR has become the new minimum not sufficient condition for fundraising, and the company will need to get farther on it’s A to be attractive to a B round investor. If the founder does nothing and waits 90 days they’ll be begging their investors for a bridge, and begging new investors for a flat round, and will likely end up with downround or an ugly insider bridge. At $250,000-a-month burn and no term sheet, within 150 days the founder will then need an inside round of between $4.5 and $6 million to get to the prototypical 24 month runway, or a $1.5 to $2 million bridge to buy enough more months to fundraise and build value. That’s 1.5x to 2x the capital raised, or over half the existing capital in a bridge, and puts intense pressure on strength of your cap table, growth rate, broad insider support, and quality of revenues in a tight venture funding market.

If the founder instead cuts costs 25 percent immediately, and then throws all hands on deck to find 25 percent more revenue — at this level of burn the startup probably has a team of at least 12 to 15 people, meaning the founder can throw at least 2,000-3,000 man hours in an all hands customer push in just the next 30 days if they had to. At the same time, the founder goes to his largest investors, walks through the cash and cost plan, and asks them to give him a term sheet for a seed extension with existing investors all kicking in 25 percent of their contribution to date, with the extension equal to 25 percent of the total capital at close. It can be papered fast and cheap. That adds $750,000, leaving the founder to find one new investor to join the insiders at the last price for 25 percent of the extension – a much easier ask of a new investor in a tough market, and probably one the founder has a couple of interested parties that have been watching, or certainly one of the founder’s investors can make a quick call to a friend to close. Brutal burn rate math has now become magical burn rate math and the company has 18 months of runway, has halved its net burn, and can additionally get away with half the A round equal to 1x the capital it has raised to date at the end of it if need be.

The "magical" part is the founder has now changed the odds for everyone – his team only has to find 25 percent revenues and costs. His insiders are only asked for 25 cents on the dollar support at a price they should love, leaving the typical fund with plenty of follow-on reserves after that, a new investor does not have to carry the lion share of the burn, set price, do as much dd, or worry about investor fatigue, and the insiders don’t have to go it alone and have external validation, and the founder has minimized their dilution, and their fundraising time. If the founder then is able to keep costs flat for just 6 months in a sprint and pick up another 25 percent in revenues, the runway at the current cashout date is still 16 months, and the company is set up well for its next round, with on $4 million in capitalization on nearly $2 million in ARR, a new investor with dry powder in the deal, and plenty of reserves left on the cap table to support the A, with a lot more traction – leaving the size of A round the company has to have at less than half the level of before, the effective revenue multiple insiders and new investors are facing halved, the burn the new investor had to buy halved and lots of time and options for the founder to drive value, dilution, and scale.

Founders, it’s your company. Your decision. Just be aware, how and how fast you play the tough decisions when the market shifts, changes the calculus for your investors, and their level of confidence and ammunition to back your future decisions. When you feel the market starting to tighten up, consider giving yourself, and your investors, some breathing space, then use that breathing space to drive value.

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Neal Dikeman is a venture capitalist and seven-time startup co-founder investing out of Energy Transition Ventures.

Houston entrepreneur launches platform for on-demand ordering with biz support for restaurateurs

it's chewtyme

While Ashley Loveless Cunningham has advised clients how to fix bad credit and build a healthy financial life for years, a look at her family’s own spending on food delivery came as a wake-up call.

Like a lot of busy households, they loved to order food through delivery apps, so much so that Cunningham realized it was time for a change. With the delivery charge and other fees that apps like DoorDash and GrubHub tack on, a food order can easily double in price. A $15 bowl from Chipotle that her son liked to order cost almost $40 by the time it got to the house — and that doesn’t even include a tip for the delivery driver.

“I thought, wait a minute. This is ridiculous,” she says.

She says she brainstormed, and began to look into ways to offer an alternative, not only for consumers, but for minority-owned restaurants that were struggling to keep their doors open.

So, Cunningham, whose business ventures include her financial literacy business New Credit Inc. and a perfume line, created her own app, ChewTyme.

The app launched in Houston and Atlanta last Friday, and has drawn over 3,000 consumer downloads, which Cunningham says is a “pretty good” start.

Cunningham, 40, a native of Mobile, Alabama, says she moved to Houston with her family ten months ago, drawn by the opportunity to grow their various businesses. And, the city’s vibrant food scene offered another avenue.

“Everybody moves here to open a restaurant,” she says of Houston.

Extra support on the side

Through restaurant owner clients of her credit counseling business, she learned that many were struggling to remain open. A lot of the business owners aren’t aware of the many options available to them, in business lines of credit, assuming their own personal financial credit is in good shape.

That’s where the business education side of the app comes in, where restaurateurs will gain access to “Business University,” financial guidance for their journey in the industry.

“I tell people, it’s not only about cash funding. There are other resources out there, things we need to thrive in the business space,” she says, adding that this includes mentorship and publicity services.

Many restaurant owners told her they partner with at least two or three food delivery apps already. But she thinks ChewTyme will stand out.

“A lot of people I’ve talked to, they just don’t know where to start,” she says. Her partnership with the restaurants would solve that issue, helping restaurateurs create a “full, state-of-the-art profile” that guides them every step of the way.

While she's yet to onboard her inaugural Houston restaurants, the app has begun to draw interest, Ashley says, especially from entrepreneurs who need a cheaper way to scale their business growth.

Cunningham says ChewTyme offers a competitive alternative to many third-party apps, which she says charge anywhere from a 20-22 percent commission on a restaurant’s delivery orders. The app will charge a 17 percent commission, with no monthly fee, and a flat $4.95 delivery rate to consumers, whom she plans to attract with discounts and promotions.

She hopes to initially sign up 25 restaurants in Houston and the same number in Atlanta, during the beta run of the app. As they work out the kinks, she feels confident in expansion.

Her biggest challenge moving forward is hiring quality drivers, she says.

“That really scares me. People who want to work, who have integrity. I’ve heard horror stories because people literally pick up their food and don’t deliver it,” she says.

ChewTyme is working with contracting partners who are conducting screening and background checks for potential drivers, and onboarding restaurant owners with follow-up. Interested restaurateurs or drivers can request more information on ChewTyme's website.

Tapping into a high-growth market

Third-party food delivery exploded in popularity during the pandemic, and a 2021 McKinsey report found that food delivery more than tripled since 2017. Post-pandemic, the on-demand services industry growth hasn't waned.

The Texas Restaurant Association fought for a law passed in 2021 to prevent third-party apps from adding restaurants to a delivery platform without a financial agreement or partnership, according to Christine Robbins, executive director of the association. But now that relationship seems to have settled into a profitable venture on both sides.

Taj Walker, of H-Town Restaurant Group, which owns Hugo’s, Xochi, and six other local restaurants, says the apps don’t typically charge a fee unless the restaurant takes part in an app’s ad promotion of their restaurant.

An app’s commission can range from 10 to 25 percent, he says, which their restaurants compensate for by charging 10 percent more on app orders than in-house food. The apps have become an important revenue stream for some H-Town’s more casual eateries, especially Urbe and Prego, which are popular among younger clientele, Walker says.

While Cunningham’s main goal is to uplift minority entrepreneurs and communities, the app will be available to any restaurateur who wants it.

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