So you think you have the next big idea. You know what you want to make, you know roughly how, but you lack the backing you need to move from concept to reality. This is when you pitch your invention idea to a company. But how do you go about doing this?
Today we are going to talk about some of the best ways to pitch your invention idea to a company.
Consider A Patent
Considering a patent is always a good idea when you have an invention idea that you know will be successful. A lot of companies will avoid unpatented invention ideas because any other company could just start producing the same product.
Patents can be expensive and they require some legal work. Thanks to the internet there are plenty of websites that can help you with obtaining a patent for your invention. InventHelp is one such site, with the benefit being that they are a full service invention website.
Do Your Research
One of the most important parts of pitching your invention idea is to perform thorough research. There are a number of different areas you are going to research: your market, each business you pitch to, your competition, and where your product can go in the future.
Knowing the market means that you know the people who are going to want what you have to offer. Why do they want this item? How will it benefit them? At the same time, you are going to want to know the competition so that you can speak to how your product outshines their option. Small companies and small inventors are capable of taking the market by storm, you don’t have to be a famous inventor to make a big product.
When you go to pitch to a company you want to know everything about them. Having a good knowledge of the people you will be pitching to and their expectations can make or break your pitch. Every pitch should be custom tailored to the company that you are speaking to. That includes knowing the company’s mission, goals, and ideals. All of this can help you explain why your product is right for them to launch.
Target The Right Businesses For Your Pitch
Picking and choosing carefully which businesses you pitch to can make a real difference. You will have much better luck if you pitch to a company that has the capital to produce your product and already sells products in the same industry. For example, you wouldn’t want to pitch a revolutionary microwave to a company that only makes blow dryers and hair care products.
If your invention doesn’t fit into an existing industry/category, look for a company that works in various fields. A good example of this is Proctor and Gamble who have a huge range of products under many different names.
Have A Good Understanding Of What It Would Take To Launch
When you go to pitch your product, you should always have a solid understanding of what it will take to make your product a reality. Do you need more R&D? Are you ready for production? What specialized equipment is going to be needed for production? Think of these questions and similar to get a good understanding of where your product needs to start. Almost certainly you will be asked what it will take to make your product sellable.
InventHelp is a company that specializes in helping inventors take their idea and put it into reality. With the power of experts from just about every industry and marketing specialists, your product can become a reality. From creating information packets to helping to connect you with the right people, InventHelp can do it all.
Throughout the recent years InventHelp has made the news for their efforts to help inventors of all levels. Here are some news articles that you can take a look at:
Take these tips to mind when you are considering pitching an invention to any company. A lot of our tips here will help you to succeed and make your invention, your dream, become a reality. With the power of InventHelp, you can do it with much more ease.