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I want to market a product for an inventor...HOW??

    • 1 posts
    April 12, 2008 5:31 AM EDT
    This may be an odd question...hopefully someone here can point me in the right direction:
     
    I recently "came across" an invention that really excited me.  The inventor is currently trying to market the product himself, and after several emails he`s told me that he`s very interested in finding help to market his product.  I`ve been in sales/marketing for years, but I`ve NEVER marketed an invention before.  Nor do I have any idea where to start.
     
    I`ve asked the inventor what his plans are for his company...but I get the feeling he`s flying by the seat of his pants and if I offer a "good deal", he`d snatch it up in a heartbeat just to get some help.
     
    I really believe I could do something with his product.  Where should I go to get some info on my end for how to go about this?  Since the inventor isn`t leading me in the path he wants to go, I feel I`m left to deciding the path myself & presenting it to him.  But I need some places to research "the path" people/companies take when they want to get a hold of someones invention & market it.
     
    As a side note:  My intention isn`t to market the product to retail stores at this point.  Right now, the marketing would be focused on large, corporate accounts.  I don`t know if this makes a difference or not.  As I`m typing this, I`m thinking this guy could probably do a lot better than ME to market his invention...LOL! 
    • 1 posts
    April 25, 2008 7:39 PM EDT

    FortuneGal

     

    Does this guy have an actual product? Is the product a stand alone product such as a toy or item that can be sold as an end product to the consumer? Or is it a product that is part of a final product that is produced by your potential clients? Is it even physical at all or is it a process? Is it patented?

     

    Has he formed a company around the invention? If so, does he have business partners? Investors? If the answer is yes- do they all share the same vision? Do any of them HAVE a vision?

     

    Again, regarding partners (if any) - who contributed cash, services, both? Of those that contribute cash, who makes the decisions on what gets done when, where, how and by whom? Was/is this guy counting on any of the partners to market the invention/product? Are all of the people involved holding up their end of the bargain?

     

    I ask these questions because sometimes there are things going on behind the scenes that might give one the impression someone is flying by the seat of their pants, when in fact they are flying with a high drag coefficient.

     

    Talk to the guy. Ask questions. Find out what’s up. You may be surprised.

     

    What is your desired outcome regarding the product/company in question? Long term involvement or build it, grow it, and sell it off? How many years on the patent, if he has one? Any follow on IP that could add value to a potential buyer?

     

    You say he could probably market the product better than you can- what exactly do you mean? Is he a “closer”? Again, maybe he has a solid vision/direction/plan but no chops when it comes to closing a sale - and knows it. Maybe he has an aversion to the typical small talk chit chat BS and prefers to work behind the scenes.

     

    I know I didn’t actually answer your question- but hopefully you can find out the answers to some of the above and the solution will become clearer- or at least less opaque.

     

    Cheers.

     

    X

     

    • 156 posts
    April 13, 2008 10:36 AM EDT
    So you let greed motivate you into doing something you don`t really know how to do.  That`s actually healthy, because people need motivation to do things they normally don`t do, such as learning new things.

    Possibilities:

    1. buy his invention
    2. license it
    3. partner with him
    4. do your own thing.


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    • 1 posts
    May 13, 2008 2:39 PM EDT
    I also have a product idea begging for a manufacturer and promoter.
    It would be in great demand in emergency situations such as currently in China and Myamar. 
    Basically the idea is the creation of packaging material for emergency supplies that could be dropped by parashute and would be convertible into such things as bedding and emergency housing.
    Any interrest?