You need a strong presentation to close the deal.
Presenting an idea to a company can be a tricky endeavor; however, there are companies from nearly every industry looking for more efficient product designs and ideas to make them more profitable. If you have an idea you wish to present and possibly sell to a company, you must prospect correctly and get familiar with make an effective presentation.
Instructions
1. Obtain a patent or copyright. Depending on your idea, it's wise to have it protected by the U.S. Patent and Trademark Office. This will give you sole rights to your idea to do with it what you wish and to be paid for it. Contact a patent attorney for help (see Resources).
2. Search for qualified prospects. Make a list of companies that may benefit from your idea. Start with the person or teams that oversea research and development (R&D). These individuals are paid to scout for new ideas and products to make their organizations more profitable. They will be your first point of contact and are often the gateway to the decision makers in the company. Make a list of a R&D personnel and store them in a database. Use e-mail, telephone and business letters to reach your contacts. Follow-up initial contacts with phone calls and weed out contacts that are not interested or will not benefit from your idea.
3. Research qualified companies. Get to know your prospect companies as well as possible. Find out annual sales, liabilities, marketing strategies and stock histories---whatever you can find out about them (see Resources). This will help you build a solid, personalized presentation, integrating your idea with the products and services of the companies you will pitch.
4. Build your presentation. Your success selling your idea will lie in your presentation. If you are not skilled in programs like Microsoft PowerPoint, familiarize yourself with one and build a strong presentation. Include concise reports that detail how your idea will benefit the company. Include a cost analysis and profitability projections. Your presentation should also be visually appealing and easy to navigate (see Resources). Use a laptop computer and overhead projector. Contact a marketing firm to assist you if you are unfamiliar with presentation software.
5. Begin pitching your idea. From your list of qualified R&D contacts, begin scheduling appointments and pitch them your idea using your presentation software. Make your first appointment brief and to the point. When finished, ask to present your idea to the next person or department in the chain of company command.
6. Pitch key decision makers. After you have impressed everyone at the bottom, begin pitching your idea to upper management. These are the decision makers of the company. If you have done an effective job pitching lower management, getting to key personnel will be simple. If not, ask for feedback and a chance to pitch to them again. Using your software, present your idea clearly, at a moderate pace. At this stage, it is wise to have an attorney or CPA assist you, as your audience may consist of fiscal departments, legal teams or company officers.
7. Close the deal. After you are finished properly prospecting and presenting your idea, it's time to close the deal. Open your idea up for offers. Have a set price in mind but don't reveal it until you are satisfied. Your attorney can help you negotiate with upper management and trudge through any red tape. When you have reached an agreement, require a contract and sign the deal. This may take several trips to the financial and legal drawing board. Be patient.
