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Creating a new product idea is the fun part! But, to successfully license your product idea – you have to show it to some companies, probably a LOT of companies – and to do that you have to find a way to get in to the right person and present your product idea the right way.
For many people this is one of the hardest steps in licensing – trying to call a company and get your product in the door. But you are not in the game if you aren’t doing this – so here are a few ways to make it go more smoothly.
First, let’s assume (and you need to make sure) that you have already done all the steps to get you to this place. You’ve studied the marketplace (making sure your product has a meaningful point of difference from other products on the market), you’ve protected your idea with a well-written provisional patent application, you’ve produced great marketing materials and maybe you’ve even made a one-minute video (showing a problem then showing how your product solves it). You are ready to submit your idea to companies!
Now, I want to get you into the right mindset.
When I contact a company, I consider that I am trying to make a relationship. I’m not trying to sell anything.
That attitude takes a lot of stress off of my shoulders. I am not trying to be a salesman; I am trying to be a resource. (My sell sheet and/or video are going to do the selling for me.) You never want to try to sell your product over the phone – don’t even bother. What want to do is get them to agree to share your idea with them. That’s all.
So, here are the tips:
Remember, you are not selling you are asking to deliver a “package” (your sell sheet). You are like the FedEx man – just trying to schedule a delivery.
If you’d like more information on “getting in” to companies, sign up for our free inventRight newsletter below and you will have access to our “Getting In” e-book.
Hi Stephen, Thank you so much for all you do! I've read your book and seen your podcasts and the info you provide is so appreciated. I have a question that I cannot seem to find the answer to - and it relates directly to this post. Where does asking for an NDA come in? If you have patent pending, your sell sheet, and your script ready to go, how and when do you ask for an NDA? It is my understanding that I shouldn't be sending my product to companies without one (my product is very simple and could be easily copied). I am trying to be crazy paranoid about a company 'stealing' the idea but at the same time I don't want to be careless. Thank you so much for you time- Dawn
Dawn,
I'd be happy to answer your question about NDA's.
Use this link to book a phone call directly with me.
I will call you at the time you book.
http://meetme.so/AndrewKrauss
Thanks for reading our book "One Simple Idea" and watching our stuff online. I'm looking forward to talking with you.
Andrew Krauss
inventRight Co-Founder
650-793-1477
Ive been watching a lot of your videos on YouTube, and reading articles posted, thank you InventRight.
My question is with an NDA -
Ive gained interests from a potential contact who wants to know more about my idea but said "I dont have time for an NDA, follow up with me next week." I'm hesitant to send a sell sheet. How does one protect that idea still if they dont agree to an NDA?
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