subject: 4 Tips On How To Sell Your Invention Idea [print this page] You may be a brilliant inventor but not as brilliant when it comes to selling your ideas. The marketing, promoting and patenting of an invention is a lucrative industry so there is a lot to be gained from hard-selling your invention ideas through the right channels. There are many marketing companies around to help you get your invention out on the market. Here are a few tips to help you.
*Identify The Competition
Once you have an idea for an invention, you will want to turn it into reality. But you first need to know your competition. There could be a similar product already on the market and you need to do your homework before taking your idea to a potential investor, else you will just be wasting everyone's time. Should you find that there are similar products on the market, you could tweak the invention and market it as an improvement, or simply move on to another idea.
*Identify Who You Want To Sell To
You need to find out which industry you need to target. Your invention idea could be an electronics device, a new type of tool or even a new type of athletics shoe design. So you will need to target and research companies in the industry accordingly.
*Sell The Benefits Of Your Idea
The presentation of your invention idea to the manufacturing company needs to focus on how your invention will benefit the buyer. They have to be able to see how they will be able to not only recover their investment but also make a profit. If you cannot, chances are that they will reject your invention idea.
*Take Your Idea To The Right Person
It is most important that you are able to sell your invention idea to the right person. Most marketing companies will add your idea to their database and/or send out routine fliers in the hope that someone will stumble across it. So it would be best to get the attention of the person who is in charge of new invention ideas get a marketing plan from them.
Being able to sell your invention idea can be very profitable for you. There are many companies that you can consult to market your idea. You need to, however, be circumspect as there are some that will try and scam you out of your idea and then end up getting rich on it themselves. So be careful when choosing a company, research them, and always patent your idea even before you approach them.
