Inventing for Money - Step 5

Promote: Prepare a pitch kit

You believe that your invention may be the greatest thing since sliced bread. Your invention is "patent pending", and you have identified the companies that should be interested in licensing it.

Now you have to metamorphose from an inventor to a salesperson. You need to put together a pitch kit or sell package that will convince the most jaded Scrooge that your invention will make them richer than they already are. You cannot make false or foolish claims, but you cannot be shy.

If you aren’t comfortable approaching strangers and asking them to listen to your pitch, get some help or find a partner.

Ready? OK!

Your pitch kit should include:

  • A high-quality folder (many companies make folders for this purpose).
  • A presentation cover letter.
  • Your business card.
  • A short summary brochure sheet summarizing the invention, features, benefits and patent pending notice.
  • If it’s a hand-held gizmo, then a product sample that looks good and works flawlessly.
  • A set of high-quality color photos. Do not use homemade snapshots. If you’re not an expert photographer, hire a professional product photographer.

You’ll also want to set up a file of your prospects and contacts. You can use a spreadsheet like Excel or Access, or you can use low-tech index cards—it doesn’t matter as long as you keep track of:

Who you contacted
Where they are
When you contacted them
What was their response

Create a “tickler” file that will alert you when to make follow-up calls or emails.


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