Mike,

That is really solid advice, thank you! It’s nice to hear positive and encouraging advice for a change. I think alot of people become paralyzed by fear. No one likes rejection, but it’s better than not hearing anything at all. You’ve just got to pick yourself up, dust yourself off and keep on keeping on!

www.envizionpdt.blogspot.com

Thank you Mike, great advise.

Thanks Mike for spending the time producing a clear and concise step-by-step list for those of us who want to license a product without a lot of expense. Not everyone is going to love or even like our product ideas, but unless we share them with others who can make them actual products then they’re just good ideas.

Good subject (and post). My input…

“3. Don’t ramble on to the receptionist that you are an inventor with a new idea and you are interested in licensing …yada, yada yada. People who answer the general company number typicaly don’t have a clue. Remember, you are a product developer on a mission to speak to a decision maker.”

And another problem is, if the person answering does have a clue, you are just another inventor and possibly get shipped off to a legal department and get through to people whose jobs are to serve a barrier between you and decision makers.

“4. Many times you will get connected to voice mail – go ahead and leave a CONFIDENT and to the point message. You are a product developer with a great new extension to the companies product line and you are eager to show the concept to a decison maker – Leave a call back number and again be CONFIDENT.”

I hate voicemail. Even if you leave a good impression, you are relying on someone to make the effort and take the time out of a potentially busy schedule to call you back. You can only rely on so much voluntary cooperation at the get go. And, depending on how confident you are re: your phone skills, it might be tough for you to come off as confident while leaving voicemail. I don’t mind the concept of leaving voicemail, but I also don’t think there is anything wrong with hanging up before the beep and trying back another time.

“5. If you get a live person or a call back – same thing, be confident, keep it short and ask if they have a policy for reviewing outside submissions – “Do you sign NDA’s” PROFEESIONAL – CONFIDENT – SHORT & SWEET. Leave and get any additional contact info – direct extensions, email addresses etc.”

I hate the word “submission.” Also, obviously, if you have an issued patent or are confident regarding your protection and see no need for an NDA, there is no need for this. If they have a “submission policy” that is purely administrative and besides the point, and they can always inform you of anything that is needed.

“7. You want to build a relationship without being overbearing – after you send the sell sheet follow up appropriately or as agreed – Not to much but not to little. I usually follow up every 2-3 weeks unless predetermined.”

This can be key. Don’t just plan to follow up but think about how this factor might play into your strategy. If you lay all your cards on the table from the get go, you might have nothing to follow up about thereafter.

9.) Don’t seek positive confirmation. Positive confirmation is a signed licensing agreement. Nothing else means much, and if a prospect feels they can gain by taking action they will take it. Besides, seeking positive confirmation inherently shows a lack of confidence on some level.

10.) To elaborate on 9, don’t ask yes/no questions when they can be avoided. Not only do open ended questions encourage dialogue, and hence encourage comfort and relationship building, but the psychology of saying yes versus no can be complicated, and you don’t know how it might affect communications or behavior.

Great points and additions – especially #9. Thanks

Michael great post. When contacting companies one thing most people forget is that a number of these people travel a lot in their jobs. So, they can be away from the office for weeks at a time. Don’t fill their inbox with emails wanting a response and don’t leave numerous voice mails saying “I still haven’t heard from you.” It is not out of the question to ask the person when is the best time to contact them or follow up with them.

Progressive International ONLY reviews product submissions the first Monday of every month. So, if you sent them a package on the second week of the month you will be waiting until the following month beofre they even review it. So calling and emailing will be futile and annoying to the person you are sending them.
Learn as much as you can about the companies review process/scheduling so you can avoid looking like a pest.

http://www.rogerbrown.net

I agree Roger…I spoke to the CEO of a large furniture company…He was leaving town for a furniture market…I asked when the best time would be to get back in touch with him…He said two weeks…Longest two weeks of my life…lol…But it’s coming up soon…I am hoping the wait was worth it for me…Who knows??

A little tiny piece of me wanted to call everyday and say is he back in…But he said in two weeks, and to make it after lunch…So I will call on that day…at 12:01 pm….lol

Everyone wish me luck….Now that I have learned so much here…I am trying to get me a nice one page sell sheet together…I had one somewhat made up…But after reading your post…I am not sure I had enough info in it…Thanks!!

Good luck Lesia!

Inventors will find that if they ask questions in a professional manner most company reviewers don’t mind letting you know when they are available. It keeps them from having a full mailbox and voicemail. Which can also make them miss important messages. Not exactly how you want the person to remember you.

http://www.rogerbrown.net

Thanks Patrice…I really hope things go well!!

Roger…I know I would not want to leave the impression of a stalker by filling up an answering machine…lol

Thanks for all the great advise.

I must admit that I can get a little nervous or anxious when it comes to making these sales calls. I have several product ideas and am currently working to get everything in order on a few before I make the sales calls.

I have a list of manufacturers that I would like to have license my product but I was wondering, should I start with the company that I feel my product fits best in or should I start by calling a few of the other companies on my list first just in case something goes wrong?

I would start with the company that my product fits best first then work my way down the list. You need to research your companies before you start submitting your sell sheet. You may find that what you thought was a perfect fit doesn’t fit. A large number of companies do not list every product they make on their website. They put the heavy sellers and may have some lesser known products you can target. You also need to know that a large company may own several smaller companies under various names and these companies may be ones to pitch too.
An example would be Johnson and Johnson. I had an idea for a rubber doorstop (don’t laugh their subsidiary sells 1.5 million of them a year and I found three companies that sell even more) I looked at the ones in the store and contacted Johnson and Johnson. They in turn forwarded me to their subsidiary the Waxman company. Look at this info on Johnson and Johnson and you can see the wide variety of opportunity you have with one company.

The corporation’s headquarters is located in New Brunswick, New Jersey, United States. Its consumer division is located in Skillman, New Jersey. The corporation includes some 250 subsidiary companies with operations in over 57 countries. Its products are sold in over 175 countries.

Johnson & Johnson’s brands include numerous household names of medications and first aid supplies. Among its well-known consumer products are the Band-Aid Brand line of bandages, Tylenol medications, Johnson’s baby products, Neutrogena skin and beauty products, Clean & Clear facial wash and Acuvue contact lenses.

Research may be boring to most Inventors, but it can open up possibilities you hadn’t imagined.

http://www.rogerbrown.net