If you are struggling to get your product to market, consider selling your patent to an entrepreneur. There are many intelligent men and women looking for a concept to use to start a business. In order to find the correct entrepreneur to sell your patent to, you must first understand the entrepreneurial mind.

Every entrepreneur is looking for the next best business to start up. They may not have the money, but they will certainly find a way to get it. Success is key. While they are risk takers, most entrepreneurs want to know they are investing their time and money into something that will bring them success.

So now you are wondering how to find these entrepreneurs interested in buying your patent? Like always, here is some help:

• Find out if there is an entrepreneurship group in your area.
• Post your patent onto websites, making them aware that it is available for purchase. (IdeaBuyer.com is one that I would use. They have several members that are well known entrepreneurs.)
• Look for start-up companies that could use your product.

Go to meetings and network. Meet people, find out what they are working on and tell them what you are doing. When you create those contacts, they will keep you in mind for their next business venture.

When the time is right to pitch your idea, you should know some things about the person you are pitching to.

• Do they have a partner, or are they a part of a venture capitalist group?
• What other projects have they worked on?
• What are they currently working on?
• What is the best way to reach them?

Your research should let you know which sections of your material to emphasize while pitching to them.

Suggested Sales Techniques:

1) Emphasize your product’s differences:

a.    Tell them all of the benefits of this product, and the differences. You want them to understand how easily it could be sold.

b.    When they buy your patent it will be theirs, and they need to KNOW that people want to buy it. Explain all of the reasons a customer will want to buy the product.  How does THEIR customer benefit from your product?

c.    If so, let them know about the interest that you have received.

2) Pitch three times:

a.    Before you begin pitching, make sure to prepare your materials!

b.    Make them curious about your product. You want them to wonder about your product and its capabilities. Give them enough information but not too much.

c.    Help them to understand your product. They want to know how it works and how you were able to make it work. These details are necessary for the entrepreneur to see his/herself creating a business out of it.

d.    Push for a decision. Highlight the benefits for their customers, answer any questions, and then solicit a sale. Keep in mind that many entrepreneurs have a lot on their plate, and they are busy. They will get back to you if they are interested.

*The way the pitch is delivered is as important as the content being pitched.

3) Show that the Product Sells:

a.    Your current customers are extremely valuable when pitching. Make sure that your customer service is excellent so that you can keep the list of customers long. A buyer wants to know that there are already people in line to purchase the product.

b.    Have some of your customers create testimonials to put into your presentation.

Start your networking within entrepreneurial circles, and soon you will have sold your patent to someone willing to run with it!

PatentHelpNow.com is a website dedicated to providing inventors with free patent help. You can contact us at: PatentHelpNow@gmail.com

It is necessary for selling a patent to know what it will cost to manufacture it, and which manufacturers are capable of performing the task. While you are figuring all of the manufacturing information out, you should also be thinking in the back of your head if it could be sold to eh manufacturers you are already in contact with. Manufacturers buy patents. In order to sell your patent to a manufacturer, I have put together some information to help you sell your patent to a manufacturer.

Without making assumptions, here is a list of questions that you need to find the answers to:

• Where are products, similar to the one you are patenting, being manufactured?
• Which of these manufacturers are looking to purchase patents?
• Within the manufacturing industry for your product’s market, what is the process for buying/selling a patent?

You should have a couple in-mind already, but if you don’t, that is why I am having you look into these things. Now you will do more extensive research into each manufacturer. (It’s like a job interview; you want to be overly prepared!)

Here are some recommendations of what to know before you make contact:

• Who is their biggest customer?
• Would that customer be interested in your product? If so, learn more about the customer so you can better explain why.
• What, if any, patents have they purchased in the past? If they have never purchased a patent, I would say move on because they probably aren’t going to start anytime soon.
• How do they find patents that they are interested in buying?
• What is the best way to reach them?

Your research should let you know which sections of your material to emphasize while pitching to them.

When you finally get that meeting, do not be nervous. You are the expert on your product, and now on their company. The following are some suggested sales techniques for selling to a manufacturer:

1) Emphasize your product’s differences:

a.    Let them know that you care about the customer. Tell them all of the benefits of this product. (Benefits are not always features. Benefits are why something is useful and buyable.)

b.    This product can help THEIR customer and maybe better than another product. They want to know: How does THEIR customer benefit from your product? (Keep in mind that their customer is not necessarily the end-user.)

c.    A manufacturer will sell to retailers and he wants them to want to buy it. Retailers want to buy what they can sell. The only way they can sell is if the customer wants to buy it. Tell them WHY their customer, and ultimately the end user want to buy it.

2) Pitch three times:

a.    Before you begin pitching, make sure to prepare your materials!

b.    Make them curious about your product. You want them to wonder about your product and its capabilities. The best way to do this with a manufacturer is to contact them about prices regarding the manufacture of your product.

c.    Help them to understand your product. They want to know how it works and how you were able to make it work.

d.    Push for a decision. Highlight the benefits for their customers, answer any questions, and then solicit a sale. Keep in mind that big companies are busy. They may be interested but they have not had the time to make you an offer, so don’t be annoying, they will get back to you.

*The way the pitch is delivered is as important as the content being pitched.

3) Show that the Product Sells:

a.    Your current customers are extremely valuable when pitching. Make sure that your customer service is excellent so that you can keep the list of customers long. A buyer wants to know that there are already people in line to purchase the product.

b.    Have some of your customers create testimonials to put into your presentation.

Use the connections that you already have to get your foot in the door. Chances are that you have already met some manufacturers; now all you need to do is research and pitch. I certainly hope that this will help sell your patent to the manufacturer of your dreams!

PatentHelpNow.com is a website dedicated to providing inventors with free patent help. You can contact us at: PatentHelpNow@gmail.com

You know that you want to sell your patent. Most inventors know that much, but who do you want to sell your patent to and how are you going to sell it? Selling to a retailer is perfect for some products, and terrible for others. So here is a guideline for determining whether this is the right move for you, and if it is, how to make it happen.

First and foremost, determine WHO you are trying to sell to. Yes, a retailer, but every retailer is different. This is where research becomes critical. Before moving forward, find the answers to the following questions:

• Where are products like yours being sold? (This is especially important if your invention is an improvement of something they already sell.)
• What retailers in your product market are known for patent purchases?
• What is the proto-call of these stores for pitching your patent to them?

When you have found at least 10 stores that you feel would be beneficial to contact, you must research each store in-depth. It is extremely important to know how each store operates so that you can adapt the materials you use to pitch to them.

• Will the retailer’s customer use your product?

• Many retailers know WHO they sell to. You need to know if the demography of their customers match the people you envision buying your product.

• How many patents have they purchased?
• Do they have their own development team?
• What is the best way to reach them?

Your research should let you know which sections of your material to emphasize while pitching to them.

Suggested Sales Techniques:

1) Emphasize your product’s differences:

a.       Let them know that you care about the customer. Tell them all of the benefits of this product, and the differences.

b.      This product can help THEIR customer. How does THEIR customer benefit from your product?

c.       The importance for the retailer is that they want to buy something they can sell. The only way they can sell it is if the customer wants to buy it. Tell them WHY the customer wants to buy it.

2) Pitch three times:

a.       Before you begin pitching, make sure to prepare your materials!

b.      Make them curious about your product. You want them to wonder about your product and its capabilities. The best way to do this with a retailer is to generate awareness for your product. Depending on the retailer, you may want to send them information ahead of time. The press can also be very helpful.

c.       Help them to understand your product. They want to know how it works and how you were able to make it work. All of the details that the retailer would need to know in order to make it their own, you need to explain.

d.      Push for a decision. Highlight the benefits for their customers, answer any questions, and then solicit a sale. Keep in mind that big companies are busy. They may be interested but they have not had the time to make you an offer, so don’t be annoying, they will get back to you.

*The way the pitch is delivered is as important as the content being pitched.

3) Show that the Product Sells:

a.       Your current customers are extremely valuable when pitching. Make sure that your customer service is excellent so that you can keep the list of customers long. A buyer wants to know that there are already people in line to purchase the product.

b.      Have some of your customers create testimonials to put into your presentation.

Retailers watch out! Now you have the help you need to sell your patent!

PatentHelpNow.com is a website dedicated to providing inventors with free patent help. You can contact us at: PatentHelpNow@gmail.com