How to Sell a New Idea
There are companies who specifically look for great new ideas to invest in so that they can produce infomercials and other advertising campaigns to sell the new products. Maybe you have a new idea that you want to sell to a potential investor, a bank lender or even just someone who purchases concepts from inventors for profit. Here are some practical tips for how to sell your new idea.
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Instructions
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Send the investor or concept company a short proposal describing your new idea and how you plan to implement it. Provide solid research from reputable sources that prove that your idea is viable. Identify the specific market that will benefit from this new idea. If the firm are interested, its representatives may ask to meet with you.
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Do a small test run of your idea in your local area and track the results. Implement the idea and sell it in your local community to see how it sells and what the customers think of the product. Big corporations do this all the time when launching a new product or service to see if it is worth the larger investment.
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Manufacture samples and give demonstrations to show your idea in action. For example, if you are selling an idea for a new line of clothing, have quality samples produced so that the person you are selling the idea to will get a better grasp of why your clothing is innovative and unique.
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Present yourself in a professional manner at all times when selling your new idea. The manner in which you portray yourself to the other party will have a large impact on whether it is sold on the viability of your new idea. Remember that the investor's main objective is to make money; as good as the idea may sound, if there isn't a market for it there is little chance that it will sell.
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Be excited and confident about your idea; if you aren't convinced of your own idea, you can't expect someone else to be. There should be no question in your mind that the idea will work, and you have to express this in your selling presentation. Stay grounded about the sales potential of your idea and provide information to back up your projections. Making wild assumptions about the idea making millions in the first year is likely to scare the other party away.
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Tips & Warnings
Have your new idea patented or trademarked to protect it from being stolen. The process of getting a patent or trademark is somewhat long and arduous and requires an investment, but if you feel that your idea is ground- breaking, you really should take this important step.
