How to Market & Package Ideas

One of the most challenging steps in the product-development process is the marketing and packaging of your idea for presentation to investors, companies and other interested individuals. Before you take on this task, you first need to take a step back from your concept to analyze whether the idea can actually make you and the investor money over time and how. Then work backward from the "how" to decide how to market and package your ideas to potential investors.

Instructions

Packaging Your Ideas

1. Write a business proposal containing the following elements: a summary of your idea, an in-depth look into how your idea will work, research about the viability of your idea, a proposed marketing plan and financial projections. You should have one short business proposal summarizing the main points of your idea for busy investors, and a complete business proposal for lenders who like to see details and research before they take your idea seriously. See Resources for a link to an outline for a full business proposal.

2. Hire professional graphic designers, programmers and product manufacturers to generate materials, demos and other physical manifestations of your idea. The quality of your presentation is an important determinant in whether investors and other interested parties will take your ideas seriously.

3. Put together a website to package your idea for easy viewing. For example, you can create a video, tutorial, Flash movie and FAQ section that describes your idea in detail. Then send the link to potential investors so they can fully understand your concept.

Marketing Your Ideas

1. Send inquiries (letters describing your concept in general terms) to private investors and business lenders in your area. If they are interested, then send them your full business plan. You can also place ads in your local classifieds soliciting investors and seeking help with your idea. See Resources for a link to a network of private investors and lenders.

2. Go to networking events and mention your idea to other businesspeople who may be able to add value to the concept. Don't give them the full plan, only a general description (e.g., "I'm planning a launch of a great new service that is going to help single mothers in our area"). Ask your colleagues if they know of any resources or contacts you tap into to help bring your concept to fruition. You may find that they will spread the word about your idea to other interested parties.

3. Get a patent for your idea to show interested parties that you believe enough in the idea to make the investment. To get a patent, you need to give a full description of your product (including any drawings and diagrams for products) and pay a patent fee. In some cases you need to get a lawyer to help you complete the process.

Tips & Warnings

• Describe your idea with enthusiasm, even if it is not yet fully developed.

Resources

• Get a patent for your idea
• Find investors in your area
• Business Plan Outline
• The One-Page Proposal: How to Get Your Business Pitch onto One Persuasive Page
• Made to Stick: Why Some Ideas Survive and Others Die