Your proposal must convince your target your product will benefit them somehow. Entrepreneurs forget this when trying to market or license their goods. Nobody wants to know how cool or new product ideas is, they wish to understand that individuals will buy it.
Step 1: Review of your target
You first need to find out which your target's needs are by researching their history from beginning to end. Stop look for a summary of a company's history at the library within the periodicals section or online. You can look Google, Yahoo, or go to Hoovers.com. You can also locate the company's website and look up their 'about us' page. Look at their press releases, specially the latest ones.
With these sources, you are able to determine the direction a business goes, and whether or not your products fits their current or future products.
Step two: Locate the decision maker
Find out who the important thing decision makers are. It's usually the item manager, V . p ., President, or owner. The best way to learn who is responsible for licensing or adding new products to some company's products is to call and ask. Many companies have departments for this now.
Whether it is a department or individual, someone delays to your call. Most companies are searching for new items, as well as in case your target business is not actively seeking out new product ideas, No one will ignore a cash maker. Ideas do not have a hard time locating a home, particularly if they are offered professionally presented.
Step 3: The way to get hold of your target
After you have researched some companies in your preferred market and determined which ones you want to present proposals to, begin contacting them. Calls be more effective and quicker than emails. Call and request the name of the an affiliate control of adding new services for the products. Ask the everyone you speak with, starting with the receptionist. Like that, it is possible to say, "Hello Mr. Downs, Marianne declared you're person to speak to about adding new services for your company's line."
If you do this inside a natural tone, referring across being a referral from Marianne. Now, you don't want to be dishonest, but perception is very important, and you also want to appear confident plus the loop.
Step 4: Making your initial pitch
When you reach the right person, introduce yourself, and say, " my opportunity has evolved an item that we're feeling will satisfy your current manufacturer product line. What is your protocol for reviewing potential new services?" Then just listen and take note of all the key information and abide by it for the letter.
To prevent feeling intimidation for those who have never performed this before, keep in mind that they are looking to get a telephone call from somebody who truly does possess a unique money maker that may enhance their company's revenue and make them appear to be trend spotters.
So inform them that, "I believe this system will significantly improve your company's revenue." Every company loves to hear that phrase, and it immediately piques their interest. You can now let them know what product category they can fit into, but you will not need to explain your invention.
Step 5: Confidentiality Agreement
Ask him/her to sign a Confidentiality Agreement, or he/she may ask you to sign theirs. In any event, enter a partnership which says that you will suggest to them confidential information to be considered for their company's manufacturer product line.
Step 6: Send your proposal
You can now send your proposal with all the convenience knowing that:
1) they're expecting it,
2) they wish to see it, and
3) they are not going to steal your idea.
Remember being professional, knowledgeable, and flexible to negotiate. Send your package having a job cover letter restating that which was discussed. Stamp or print 'REQUESTED MATERIAL' about the package, and then call to allow them realize that it's in route. Contact the business about 2 to 3 weeks later, plenty of time to allow them to review, digest, make judgments, and arrive at conclusions.