Ron, cold calling may be the way sometimes. However you make that contact, just have as much research done on your invention, the market, projected success and why…have all that done and the contact, cold call or not will be easier. I always made a very special presentation whenever I pitched because I did extensive research and even all about the company history which I made known to show the extent of my “homework”

When you do this, the company has no choice but believe in you because you did the research on your new idea, they did not yet, so if you say it is a winner and have good research to back it up…they have no choice but to believe you…and respect you as an expert in their field.

Be careful though. I have an issued patent that I am so anxious to license and make a deal with. It issued a year ago, but I am waiting a bit still until companies become a little more optimistic. Right now a deal with an invention just is not worth as much as when the economy is good. This invention I want to sell the rights and stay as a periodic consultant. No license deal.

Also, licensing deals may be harder to make in this economy. Just be careful and do EXTRA research to make a deal with you seem as “juicy” as you can make it. Good luck.

Ron Komorowski
Inventor of Handi-Straps
www.handi-straps.com

Ron, thanks for your response and advice. I am not really afraid of cold calling and I know most companies have some ‘path’ to follow on ideas like this. However, I just don’t want to fire my bullets in the wrong directions.
I like your suggestions on the thorough proposal and will try and follow that approach. Any other ideas would be appreciated.
Thanks again,
Ron

Ron,

The best place to start may be to develop a product sell sheet that includes all ther pertinent information about your patented itea, as well as the benefits it offers.

If you cold call someone who shows interest and requests additional information, you need to have something to send to them – even if it’s a pdf flyer.

Susan…just had this conversation with my cousin who went to school to be a film producer. I like video or a website with photos etc. Just a sell sheet is way too simple and not professional enough in my opinion. You need to show a company you have more invested in your idea than just one sheet of paper…and I don’t care how nice the pictures and graphics are.

My opinion. Especially such a giant idea like this I have. It is the changing of all writing/art/sculpting instruments…their shape…as big of a breakthrough as Handi-Straps.

I like to keep it quiet for now. You know, we talked about jump on the market share. I have had talks with the Bic Corporation and one other small U.S. pen manufacturer. I have to start talking to Bic again but the economy was so ugly I don’t think any company wanted to take on the big expense and big job of a new product launch.

Ron Komorowski
Inventor of Handi-Straps
www.handi-straps.com

Good advice thus far.

If you would like to go all out, attend an industry trade show with the objective of establishing as many contacts as possible. Then follow up with your contacts.

Otherwise, databases like D&B’s Selectory database (www.selectory.com) can be decent resources for finding names (although the titles aren’t always completely accurate). Press releases for new product announcements, etcetera, can also represent an opportunity to find names (they almost always include a quote from someone with the company. Annual reports often list a number of executive names, as well.

I would recommend knowing a name before making a cold call, although others have had success without names. In any event, a.) avoid legal departments. Its possible you could have to go through one at some point, but don’t start there. b.) you ideally want to avoid those who are too unimportant (waste of your time), as well as those who are too important (waste of their time, or is too easily perceived as that – your pitch would need to be short, succinct, and yet convincing). If you live near a prospective licensee (or possibly just a branch), you have more options at your disposal. You can offer to take someone out for lunch, for example. That person doesn’t have to be the ideal contact either, he can simply give you some industry-specific advice and eventually be able to put you in touch with the right contact.

btw, I like a middle ground between a sell sheet and a video/website as Ron suggests. I mean, I like the idea of going beyond a simple sell sheet, but you also have to be careful not to go too far beyond that at the beginning. In a theoretical sense, what you initially send tells someone more than what you may have told them over the phone and alludes to a notion that you have more invested in the invention than what you are sending. But its a step by step process and at the beginning whatever you are sending needs to be short, succinct, and to the point.

Here’s a related article:
http://careersuccess.typepad.com/my_weblog/2010...

Thanks again to everyone that replied. You have given me some good direction and I will get going on the sell sheet and trying to ascertain some good contacts at the companies of interest. You guys are a great resource.
Ron