Your proposal must convince your target your product may benefit them somehow. Entrepreneurs lose sight of this when attempting to market or license many. Stuffed to understand how cool or new product ideas is, they want to realize that people will get it.
Step one: Review of your target
You first need to find out which your target's needs are by researching their history from start to finish. You can generally look for a review of a company's history at the library inside the periodicals section or online. Searching Google, Yahoo, or go to Hoovers.com. You can even locate the business's website and look up their 'about us' page. Examine their press announcements, especially the newest ones.
Through these sources, it is possible to determine the direction a company is certainly going, and whether or not your product fits their current or future manufacturer product line.
Step 2: Locate the choice maker
Learn who the key decision makers are. This is usually the product manager, Vp, President, or owner. The best way to learn who's in control of licensing or adding new products to a company's manufacturer product line is always to call and get. A lot of companies have departments because of this now.
Whether it's a department or individual, someone holds back for the call. Most companies are trying to find new items, and even in case your target clients are not actively seeking out new service ideas, Nobody will ignore a money maker. Plans not have a difficult time finding a home, particularly if they come professionally presented.
Step three: How to get hold of your target
After you have researched some companies in your preferred market and determined those that you need to present proposals to, begin contacting them. Calls are more effective and quicker than emails. Call and order the name of the an affiliate power over adding new products for the product line. Ask the every person you speak to, starting with the receptionist. Like that, it is possible to say, "Hello Mr. Downs, Marianne declared you're person approach about adding new items for your company's line."
Should you choose this in a natural tone, referring across being a referral from Marianne. Now, you do not want to become dishonest, but perception is quite important, and also you wish to appear confident as well as in the loop.
Step 4: Making your initial pitch
As soon as you attain the right person, introduce yourself, and say, " my opportunity is promoting something that we presume will match your current product line. What exactly is your protocol for reviewing potential new items?" Then just listen and take note of all of the key information and stick to it for the letter.
To avoid feeling intimidation when you have never carried this out before, take into account that they are hoping to get a telephone call from somebody that does indeed possess a unique money maker that may enhance their company's revenue making them seem like trend spotters.
So let them know that, "I believe the product will significantly improve your company's revenue." Every company loves to hear that phrase, and it immediately piques their interest. Now you can tell them what product category it fits into, but you will not want to spell it out your invention.
Step five: Confidentiality Agreement
Ask him/her to sign a Confidentiality Agreement, or he/she may request you to sign theirs. In either case, enter a contract saying that you will demonstrate to them confidential information that need considering for their company's products.
The sixth step: Send your proposal
You can now send your proposal with the convenience knowing that:
1) they are expecting it,
2) they would like to see it, and
3) they are not likely to steal your idea.
Bear in mind being professional, knowledgeable, and versatile to negotiate. Send your package using a job cover letter restating what was discussed. Stamp or print 'REQUESTED MATERIAL' about the package, then call to permit them understand that it is on the way. Contact the company about two to three weeks later, plenty of time so they can review, digest, make judgments, and reach conclusions.