Your proposal must convince your target your product may benefit them somehow. Entrepreneurs lose sight of this when attemping to offer or license many. Nobody wants to know how cool or how to submit a patent is, they wish to know that men and women purchase it.
The first step: Review of your target
You need to find out which your target's needs are by researching their history from start to finish. Most effective locate a summary of a company's history at the library within the periodicals section or online. Searching Google, Yahoo, or visit Hoovers.com. You may also locate the business's website and appear up their 'about us' page. Take a look at their pr announcements, particularly the latest ones.
With these sources, it is possible to determine the direction a business is certainly going, and whether your product or service fits their current or future products.
2: Locate the choice maker
Learn who the key decision makers are. It's usually the product manager, Vp, President, or owner. The easiest method to learn who is responsible for licensing or adding new services to a company's products is always to call and ask. A lot of companies have departments because of this now.
Whether it's a department or individual, someone holds back for your call. A lot of companies are searching for new services, and also in case your target business is not actively seeking out new product ideas, No one will turn down a cash maker. Good ideas do not have a hard time locating a home, particularly when they come professionally presented.
Step three: How you can speak to your target
Once you've researched some companies in your preferred market and determined which ones you want to present proposals to, begin contacting them. Telephone calls are better and quicker than emails. Call and request the specific part of control of adding new items to the product line. Ask the naming of everyone you talk to, you start with the receptionist. Like that, you are able to say, "Hello Mr. Downs, Marianne said that you're person to speak to about adding new products in your company's line."
Should you choose this in a natural tone, referring across like a referral from Marianne. Now, you do not want being dishonest, but perception is very important, and you also wish to appear confident and in the loop.
Step four: Making your initial pitch
Once you attain the right person, introduce yourself, and say, " my opportunity has evolved an item that we presume will match your current manufacturer product line. What's your protocol for reviewing potential new products?" Then just listen and jot down all the key information and abide by it for the letter.
To prevent feeling intimidation when you have never carried this out before, take into account that they are trying to receive a telephone call from somebody who really does possess a unique money maker that may improve their company's revenue to make them look like trend spotters.
So let them know that, "I believe the product will significantly enhance your company's revenue." Every company loves to hear that phrase, also it immediately piques their interest. Anyone can tell them what product category they fit into, but you will not want to describe your invention.
Step five: Confidentiality Agreement
Ask him/her to sign a Confidentiality Agreement, or he/she may request you to sign theirs. In any event, enter an agreement that says that you'll demonstrate to them confidential information that need considering for company's product line.
Step 6: Send your proposal
You can now send your proposal using the convenience realizing that:
1) they're expecting it,
2) they wish to notice, and
3) they aren't planning to steal your idea.
Remember to be professional, knowledgeable, and versatile to barter. Send your package using a cover letter restating what was discussed. Stamp or print 'REQUESTED MATERIAL' around the package, after which call to allow them realize that it's in route. Contact the organization about 2 to 3 weeks later, plenty of time for them to review, digest, make judgments, and arrive at conclusions.