The majority of hearing-impaired individuals who use hearing-aids or undergo surgery to receive cochlear implants expect to hear well. Tens of thousands of people with hearing impairments continue to have difficulty hearing outside of the clinic setting. A clinician may have incorrectly adjusted the settings of the medical device. Audiologists and speech-language therapists require a hearing test that can accurately and quickly assess the ability of an individual to hear in a noisy environment. This test is particularly important for children as it can decrease slowed learning. Children with hearing loss may not get early intervention. This could lead to hearing loss in their hearing and a loss of ability to learn. In addition, since life expectancy can realistically reach to age 90 and beyond, an individual could potentially be affected by hearing loss for half of his/her lifetime.
Pure tone hearing tests, which require the use of sound proof booths and an audiometer to produce the tone, are currently used for hearing loss evaluation. These tests assess fundamental hearing loss, but do not predict how an individual will comprehend words and sentences in a real world setting. These tests are unable to determine whether a second hearing instrument or cochlear implants would improve a patient’s hearing. This information is vital for patients and their families, as cochlear implant and hearing aids can often cost more than $40,000, and they are often not covered under insurance.
Auris Solutions is an early stage hearing care company, which solves these market needs by delivering novel and scalable software-based hearing tests that rapidly and reliably assess hearing in a realistic environment. Our tests offer a unique opportunity for clinicians to optimize their hearing device settings and recommend the purchase/replacement of additional hearing devices. Setting the medical device optimally for each patient can make an enormous difference, in saving them from the emotional and mental problems associated with hearing ineffectively. Our tests are expected to be an essential part of the portfolio of hearing tests offered by audiology clinics, and will be conducted following the audiogramtone test.
Auris Solutions will soon be able to launch its first product, the CRISP (Children’s Realistic Intelligibility und Speech Perception). This computerized system allows children to test their speech comprehension by computer. It is a reliable and rapid way to test their hearing ability.
Auris Solutions currently needs $250,000 in order to implement our marketing strategy and offset our start-up expenses, which include product acquisitions and business development plans for future and existing products.
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[1] http://trfn.clpgh.org/shhh/Factsheet.html#r1
1.1 Objectives
- We will implement a business model that will allow us to achieve and maintain a gross margin equal to or above 75%.
- To promote and improve the core competencies of the company, we will be looking for a qualified management team.
- We will satisfy our customers by offering products free of defects and by offering outstanding customer service that will consistently exceed customers’ expectations.
- We will allocate a significant amount of our sales revenues to research and development in order for us to offer new and innovative products in the hearing care industry.
1.2 Mission
Auris Solutions, LLC, a company that provides innovative and comprehensive solutions to refining hearing loss diagnosis, is Auris Solutions, LLC. We pride ourselves in the quality of our products. They are reliable, fast, and efficient. We will manage our business to achieve long-term profitability and planned growth.
We will build on our strengths and meet the needs of our customers to grow. As a result, Auris Solutions, LLC will optimize shareholder value and be respected worldwide as a solutions provider company in the hearing industry.
These are our values.
- Corporate Responsibility The Company will take part in community events.
- Ethical Principles – The Company will be able to conduct business on sound ethical principles.
- Compassion We are open to all with kindness, concern, and openness.
- Respect #8211: We recognize the wonders and potential of the human mind.
- Excellence –: We expect the very best of ourselves, and one another.
- Stewardship – We use our resources responsibly.
- Community “We cultivate relationships which inspire us to serve.”
Success Keys 1.3
Auris Solutions’ goal is to provide our customers the best products as well as related services. Our most valuable assets, our employees, will be the first to demonstrate our commitment to quality. Thus, our employees will be accountable in each of the following areas, which are key to our success:
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Management Staff:
- Hire the right people to work for the company
- Establish evaluation standards and policies for all employees
- Assign responsibility to staff and delegate
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Sales & Marketing:
- Establish awareness of Auris brand and product offerings
- Develop and implement your sales strategy
- Remove barriers to entry
- Implement a marketing plan that successfully brings our advertisements and products to the target market
- Offer customer support for all products, even after they are purchased
- Product Quality and Development:
- Timely launch of new products
- Establish quality processes
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Management & Customer service:
- You can manage purchasing well
- All purchases should take into account the needs of the customer
- You can reduce the need for inventory in-house and overhead costs
- Marketing budgets are set and accounts receivables are managed
- To ensure customer satisfaction, create a program.
- Products shipped and delivered on time
- Effectively respond to customer grievances