SELLING YOURSELF ALONG WITH THE PRODUCT
By Ken Tarlow
Let's face it--you like spending time in your workshop, designing and building new products. After a while, the workshop actually becomes a second home. Unfortunately, in order to get your products to market, you will have to leave the comfort of your workshop and enter the unfamiliar world of business.
But fear not! With a little preparation, you can be put together a focused and professional presentation. And, of course, that will increase your chances of getting a licensing agreement for your product. Let's look at a few things you'll need to remember.
1. Protect Yourself--Have someone from the company sign a confidentiality agreement. They will agree not to use or disclose information about your product without your permission.
2. Dress Well--When presenting your product, dress neatly--jacket and tie (men) or suit (women). And remember to exchange business cards.
3. Use an Orderly Format--Have your presentation information in an orderly format. Flip charts work very well. If your product needs to be plugged in, bring an extension cord. If your product is used outside or in a particular environment, make a video and bring it. If you do, however, make sure they have a VCR.
4. Keep a Stock--You may have to present several times as you move up the chain of command, so make sure you always have enough demo supplies to make a presentation, especially on short notice.
5. Arm Yourself With Information--Briefly tell them how you came up with the idea (problem/solution). Throw out a few figures about how many people have the need for this product. If you have endorsements from buyers of other key people, show them. Talk about the closest competition if you have that information.
6. Be Honest and Open--When presenting, don't talk too much and don't lie about anything. Let them ask questions as they arise.
7. Address the Future--When you get a positive reaction, leave them with a photo, a one-page description, and a copy of the licensing agreement. Make a definite plan for a future follow-up, including when and where you will meet.
By planning and increasing your professionalism, you'll be able to present your product in the best light possible. And I wish you the best of luck.
Ken Tarlow is president of Tarlow Design, a full-service product development company that helps independent inventors design, prototype, patent and license consumer product ideas. He has developed more than 300 consumer products worth over one billion dollars in retail sales. Tarlow's office is in San Rafael, CA. He may be reached at (415) 457-6428.
The above article was excerpted from Tarlow's MIND TO MONEY, a cassette tape/workbook package that can help you develop a new product from the idea stage to the marketplace. MIND TO MONEY may be ordered from the Dream Merchant at $59.95 plus $4.95 CA sales tax and$5 shipping and handling ($69.90 total). Send orders to the Dream Merchant, 2309 Torrance Blvd., Suite 104, Torrance, CA 90501.
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