I have an idea for an entertainment delivery system, which I have submitted to 2 invention companies for evaluation. Both responded, “Great idea, BUT, all of the individual components of this system have already been invented. Therefore, I have nothing to sell, so, there is no reason for anyone to pay me for this idea.”
I could create a company myself and bring this idea to market, but there are 2 factors that are not in my favor:
1. This idea must be implemented quickly. One company is already supplying this service on a small scale, but they will eventually be expanding. The company that I have in mind could have this up and running in a very short time.
2. I doubt that I would be able to obtain $5-$10 million dollars for start-up.
I have put all of my energy, creativity, enthusiasm and finances into this project because it IS the next Big Idea. I am now “broke”, financially.
As I have no legal grounds for being compensated for this idea, do you have any ideas of how I could receive financial recognition for adding such a lucrative revenue source to an industry giant’s “bottom line”?
Please help, if you can.
Wishing You Success,
Tom P. from Saint Cloud, FL
Thank you for reaching out to me and watching " The Big Idea"
When people come to me with an idea that they feel would fit perfectly with a certain company and that this connection sits so strongly in thier mind as "correct"... my suggestion is to then hunt them down with that passion and find a way to present the idea. Research ever
single thing you can about the company, and if they are as big as you say, then getting info should not be hard. If they are public than purchase 1 share of stock and you will be handed their everything from their annual report, numbers, projections, overview of who is who in the company and anything else that is critical to know ( as a shareholder... even if its only 1
share you get the whole snap shot)
Then armed with this research find the correct person to "pitch" this idea to. Again find our everything you can about the "right" person and how and when to get their attention... with your fingers to do the walking/dialing. Especially in big companies its not hard to use the phone to find out where people are and where the are traveling (it should be but I have found that its not) I have caught many many people over my career, unprepared at trade show, golf games,
networking events and even outside a bathroom trying to get the 5 min of their time or to pass them so QUICK bullet point (what's in it for them?) materials... sometimes you need to get creative to get noticed.
With that being said ... you have to be prepared that they will not be interested, already have it in the works or just have flushed this idea out and chosen not to pursue. What making contact with them will do is at least give you the satisfaction on pitching to who you believe in your correct "right" person/company for your idea. You will absolutely get noticed that may or may not open up other possibilities and it may close a chapter in your journey so that you can move on to the next phase on where you need to be or allow you to see something else that is not visible from your current viewpoint.
As passionate as you are about your idea you also have to hear and process the information that others ( experts) are giving you. This then can prepare yourself to overcome the objection for the next level of questions and/or meetings and being able to "hear" allows you to be able to step back and be objective.... loosing the ability to hear or be objective can kill an entrepreneurs path to success.
I hope that you found something of value in this response... please share your thoughts and comments.
Have a great week and thank you for sharing a part of your journey with me :)
Hi Amilya, my name is Robert. I'm a 22 year old college student in North Carolina. I served 3 years in the Army stationed in Germany. During my time in Germany I came across what I think is a great product. I've done some market research and noticed that the product is not for sale in the US. I would like to sell the product over here some how, but I really don't know where to start.
- Robert F. from Charlotte, NC
First off let me Thank you from the bottom of my heart for serving our GREAT country. My baby brother served in the Marines and did his tour in Iraq. I know from personal experience the sacrifice and commitment of yourself, your family, loved ones and friends. I could
not do what I do each and every day of my life if you did not do what you have done :)
With that being said...... The first thing you need to do is track down the product and the person in charge and ask them if anyone has the "right" to sell the product in the USA.
They may have a reason why they are not selling the product here or a marketing or operational reason why they have chosen not to be here. Based on those answers you can then get the information you need to propose a plan of action on how that product should be introduced into the US marketplace. Most companies have parameters and guidelines on what can and can not be done with their product and brand name.
Hope this helps... thank you for sharing a bit of your journey with me :)
How do I expose my extremely creative landscape design abilities to affluent residential homeowners here in the San Francisco Bay area? Everybody has good ideas about landscaping but I take design to an extreme and want to exploit my skills. The larger landscape architectural firms seem to capture the high-end market because of the alleged safety and knowledge of hiring a licensed professional which just isn’t correct. I have been a landscape contractor for 25 yeas and specializing in design for the last 10 years but most people have still not heard of me. I have tried the full page color advertisement in the better magazines with some success. What can you suggest? Thank you for your time to reply.
- Matt W from Alamo, CA
Thank you for emailing me and watching the Big Idea.
Ok... hear are my thoughts that come to my mind first.
Look for a homes in an affluent section of town in a well seen area.... sketch out a design that would blow away anyone who saw it (Create 2 or 3 versions of the design so the homeowner feels like they have some control and it can adapt to a few different homes styles)
Create a flyer that says you are launching a "design contest" and the winner will get one of the following designs done to their home at "cost" ( this way you do not loose any hard costs) Hype up the flyer saying that the chosen home will be featured in local media (Print, Radio and TV)
Canvass the neighborhood and have a phone number set up to field calls. This now gives you a list of homes interested in changing their landscape. You can offer the non-winners a discount for being in the contest.
Now reach out to the press ( print, radio and TV) tell them you are hosting a local contest and what the winner will get. Invite them to come interview some of the homeowners ( why are they interested and all that jazz) You can agree to let them film the process or end result whatever appeals to them. Research some of the local magazines that feature both high end design and landscape and invite them to also interview and follow the process. You can create all kinds of headlines about this to push out to all the local TV and Radio to get coverage.
Those are my first thoughts... share comments :)
PS. You can learn more about Amilya on her web site, http://www.Amilya.com. And when you are ready to make the entrepreneurial jump, make sure you check out some of the priceless information and inspiration at http://www.LuckyNapkin.com, or plan to attend our Lucky Napkin Live Event, March 20, 2008 in Scottsdale AZ. Lucky Napkin is the country’s premiere “Venture Catalyst” company, an entrepreneurial catapult “Where Great Ideas Launch.”
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