Five Steps to Selling Increase Idea

Are you want to increases  your company sales volume. Here showing some step system.

Step 1: Collect Information

Yes, it's the information  more  then better off you'll be. Licensing your idea is no exception. Before you even consider approaching prospective companies to sell your idea, be sure you're clear in the following areas:

• Know your market. 
• Do some legal legwork. 
• Look into production. 

Step 2: Prepare a Professional Presentation

After you've gathered all the relevant information, you'll need to present it to potential licensors.

Your sell sheet should be a one- or two-page document that clearly states the following:

·         The problem, challenge or need the product meets

·         The product's features and benefits

·         Your product's market

·         The legal status of your invention (ie: patent pending, copyright or trademark info)

·         You should also develop an introductory letter to accompany your sell sheet, which introduces yourself, explains why you're contacting the licensee, and sets a time when you plan to follow up.

Step 3: Pinpoint Your Targets

You've gathered and prepared your information. Now what? Your next step is to determine the most appropriate contacts for this awesome new business opportunity. As a first step, I recommend you create a list of at least 50 prospective targets.

So how can you identify companies that might make a good fit? If it's a consumer item, it's as simple as a shopping trip around town

Another way to identify prospective manufacturers is to identify the trade association that serves the industry in which your product will fall. 

Online databases can also be a great resource. Local public business libraries are often linked to database systems that allow you to search for companies in specific industries.

Step 4: Qualify Your Targets

Once you've generated your list of 50 or so companies, you'll want to prioritize them--or "qualify" them based on which will make a best fit with you and your product. There are a number of factors to consider when qualifying prospective licensees:

Size. Large companies are easy to identify and generally have terrific distribution. However, small companies might stand to benefit more from your invention--and often make better prospects. 

·         Geography. While you don't need to limit yourself to local companies, they do offer advantages. Companies in close proximity allow you to leverage any contacts you might have locally, and set up face-to-face meetings (which is always valuable).

·         Similar product line. The closer your invention matches a company's already existing product line (as long as it isn't directly competing), the more sense it probably makes for them to take it on--especially if it gives them a product that competes with a rival company.

·         Access to a decision maker. The more easily you can identify and directly reach the decision maker, the more efficient your contact with a prospective licensor will be. (Note: if after several calls you can't determine who the proper contact is--or get in touch with him/her--you're better off focusing on other targets.)

·         Company policy. Some companies' policies for accepting submissions are more inventor-friendly than others.

·         Manufacturer reputation. Find out the company's track record for working with inventors, and if possible get personal references from those who've gone before you.

Step 5: Make the Sale

You're now armed with information, presentation materials and a hot prospect list. How do you know you're getting a good deal? Understand there are no set rules or terms when it comes to negotiating a licensing agreement. 

It's important to note that these four components are inter-related: meaning the more you get in one area, the more you might have to concede in another. As with any negotiation, both sides will likely make concessions.