Last Updated: May 4, 2023 References Approved. Conduct extensive research and find proof to back up your idea. And how much do they want to deal with some stranger saying what theyre doing is an idea they copied? Even better if you can choose someone who wont directly benefit from the change; such a persons arguments are likely to be seen as more legitimate. A study by Sofya Isaakyan of the Rotterdam School of Management and colleagues showed that managers felt 30% less threatened when employees spoke to them one-on-one than when the suggestions were made in front of other employees. Because his hospital was the only Level 1 trauma center in the region, it attracted a lot of distracting media attention, from reporters covering sensational injuries to photographers capturing local celebrities getting treatment. In the late 1970s, psychologists Nancy Cantor and Walter Mischel, then at Stanford University, demonstrated that we all use sets of stereotypeswhat they called person prototypesto categorize strangers in the first moments of interaction. @Paul good luck with that. They typically begin by getting the catcher to respond to a memory or some other subject with which the showrunner is familiar. Thank You for your time. In studies of a large hospital ER, a commercial real estate firm, and a defense contracting company, we found that managers typically evaluated an employee-generated idea by considering three questions: What financial and human resources will be required to implement it? Selling your idea, also known as licensing, refers to giving another company the rights to your invention to develop it into a full-fledged product or service. I agree with just about everything he said because the moment someone else cares more about your concept than you you have lost it already before they have taken one step. Though they may not have the most or the best ideas, showrunners are those rare people in organizations who see the majority of their concepts fully implemented. I have came up with an Idea that I think all mothers would love but I dont no what to do with it they say it cost a lot of money to get a good patent an I just do not have it is this true. I write this to you not to spam your blog, but to give your readers an alternative to promote their ideas. All you have to do is fall into one of four common negative stereotypes, and the pitch session will be over before it has begun. Well done. I am a part of the think tank for a company; where I can show them what is wrong and You dont own your idea and if you give it to Facebook you just gave it to Facebook. Plan to spend tens of thousands of dollars, so be honest with yourself. In the end, she grew so tired of his wheedling insistence and inability to listen courteously to her feedback that she told him she wasnt interested in seeing any more bids from him. And brace yourself, because in the vast majority of cases, like more than 99%, the idea isnt that original and other people are already working on it. Prepare a presentation package. Even if you had all the Is dotted and your Ts crossed, standing up against a business like facebook is a battle youre most certainly lose. Its better to give something your best shot, than to live with the fact that you didnt try at all. Hello, I have an idea for a new business that would help millions of Americans and be extremely profitable. One CEO of a Northern California design firm looks beyond the obvious earmarks of a creative type when hiring a new designer. Reprint: R0309J Coming up with creative ideas is easy; selling them to strangers is hard. In such a situation, they, of course, prefer to say no.. You have something to add here so I approved both comments, but its as if you added those insults just to make yourself look bad and tempt me to not publish your comments. In making your pitch, describe how budgets and people could be redeployed to your idea without putting undue stress on other projects or parts of the business. Rather than spend energy time and money on a slim possibility for something really big like the lottery think up something small (I do not mean this as a discouragement) I mean your flying a 30,000 ft and the radar can see you in the next state. How to Sell an Idea: Everything You Need to Know There are many options for those with great ideas who either don't want to or don't have the time to start running a company.6 min read 1. How do I sell it , or aproach someone? Consider a cautionary tale of a physician who suggested that ER patient flow could be managed more effectively by using additional nurses to triage patients. Just wanna know from you : Im a start-up media entrepreneur, I design and compile my own newspapers and news websites, and have one of three life sized 80-pager tabloid up for sale. (For more on these stereotypes, see the sidebar How to Kill Your Own Pitch.) In fact, many such sessions are strictly a process of elimination; in my experience, only 1% of ideas make it beyond the initial pitch. And Im deeper than Dante in the circles of hell. The catcher was taken aback at first; then he laughed. Instead, start the interaction with senior executives earlier in the innovation process: Im not implying that if you follow these steps, the idea that you ultimately propose will or should be accepted. Sad but true. Thats just one of the environments where my ideas would be profitable and gives you a little But I know you havnt seen one of those. In my interviews with studio executives and agents, I heard numerous tales of people who had developed reputations as great pitchers but who had trouble producing usable scripts. Or does your manager like to start projects but doesnt necessarily finish them all? Its better than not pursuing the possibilities at all. If she had thought through how those relationships might be managed, her proposal would probably have gotten more traction. Testing can be as simple as talking with people you know and trust and getting their opinions on it in a theoretical way. in the case above Facebook by their very nature has a million times more interest in it than one man with an idea. What youre most interested in at this stage is their current positioning. He cared little about the production details for the dark, violent cartoon series he imagined; rather, he was utterly absorbed by the unfolding story. How to Sell a Great Idea: 5 Steps No matter how great, it won't sell itself. Thank you for enduring the obvious disregard for the article at hand, and answering with effective suggestions anyway. Connect your idea to the internal needs. Really a great explanation why ideas cannot be patented. November 30, 2022 What's Inside? What are my credentials, as no doubt TB will accuse me of being naive (tee-hee) ? Heres where I recommend you go next for that: The Plan As You Go Business Plan at http://planasyougo.com, My name is dorothy austin igotten a invention ideal. Just because you have a great idea do you have to be the one to fully develop it? You might end up scrapping your ideabut generally, thinking about obstacles will strengthen your case. If you already have a prototype, this can make your conversations even more productive. His hair was rumpled, his expression was brooding: Van Gogh meets Tim Burton. Showrunners come off as professionals who combine creative inspiration with production know-how. There is a way people can get paid for their ideas. Youve read the post youve added this to. Thanks Tim, that was straight to the point enough, alright! With his pocket-protected laboratory coat and horn-rimmed glasses, Alan looked very much the absent-minded professor. Jump into the shoes of Facebook for a few seconds. Companies and VCs / Investors can perform a keyword search to find ideas of interest or related to specific products. Hi Tim, I am wondering why you are encouraging this idea, when it goes against your advice in this article? The solution to this problem is to have your boss onboard long before the idea comes up. With this sale, youre no longer physically or financially responsible for all of the business-related activities that follow the ideation stage. I have Next Generation Social Networking site Demo. Steps to Selling Your Idea There are several steps involved if you want to sell your idea. You cannot protect an idea because you cannot obtain intellectual property protection unless it meets the strict requirements for copyright, trademark or patent. Select a few companies from your above list that have the most potential, and delve deeper to learn about their business model. What do you bring to the table that the organization doesnt? Suggestion above: forget it. Hello Tim, For example, an employee trying to persuade the boss to let the team continue to work remotely postpandemic might focus on the economic advantages (such as real estate cost savings) if she knows her company is particularly focused on running a tight P&L. Consider this give-and-take: Pitcher: Remember Errol Flynns Robin Hood? I gather you have something radically different, but dont bother explaining it, blog comments arent the right forum anyhow. How likely is it that youve got something related to some direction theyre already studying? After all, your colleague is sticking his or her neck out for you. Finally, he challenged the executives to see who could build the tallest tower. Start web search on what it takes to get a patent, and what to do next. @Ifeanyi yes, I see your question, but I dont have any answer youll like. It could blow their minds as to how THEY didnt think of it. Its taking time but I know I am going to make it soon. Fortunately, assessing the various creative types is not difficult. Maybe you can start a search for compatible partners with the skills and resources needed to build a company? Specifically, he engages the catcher by asking him to recall and comment on familiar movies. Did you read it? tnx. I consider it something like suggesting to somebody hitting themselves repeatedly with a hammer that they might feel better if they stopped. By doing so, they induce the catchers to judge them as likable collaborators. Tim, Naji, yes, you bet it was. Neophytes are the opposite of showrunners. If they rely too heavily on stereotypes, idea buyers might overlook creative individuals who can truly deliver the goods. on legitimate small idea that a manufacture will make and sell will put you in line for the ten times grander one. I dont know if I can turn my idea into a business without the business I created it for. Despite the clear benefits, innovation rarely bubbles up from below at most organizations. Many entrepreneurs are natural neophytes. In fact, my observations suggest that you should engage the catcher as soon as possible in the development of the idea. The following points are just so you understand why. A former senior manager at PortalPlayer, a contractor that helped Apple develop the iPod, reported, The interesting thing about the iPod is that since it started, it had 100% of Steve Jobss time. The same is true at Alessi, the Italian company famous for the design of its home products. Find somebody who has had success with patent licensing. Hi; To be clear, Im not recommending that you simply go around your boss when you think he or she cant or wont take action. Youre wasting your time. And its possible to do so without feeling manipulative or sycophantic or exerting a lot of effort. Meticulous with the details of work and not messing anything up? Make it clear what the next step is that you are asking upper management to take. Finally, as regards your idea having been though already thought of but discarded, as I have seen previously in this thread, thats a bizarre assumption to make. hello Were not going to invite kids in to pitch, just for the fun of ripping them off and shattering their dreams. if you know what needs to be done and you want to direct it and you think it is a successful idea then i dont think staying at home would be able to realize this dream into implementation. Your idea, no matter how brilliant, is worth nothing. Joining forces with colleagues has yet another benefitit helps diffuse any knee-jerk frustration that the manager might take out on the person making the suggestion. Can anyone or any company in USA or Europe take patent on any technological advancement while it is already published in an e-book (with ISBN) which is published in India and available for sale on any e-commerce website. Access more than 40 courses trusted by Fortune 500 companies. Its way better to just not ever respond to you. The first step in selling your idea is to gather as much information as possible. I have more info at timberry.com. These two types may be unable to deliver specifics about costs or implementation, but a prototype can allow the catcher to judge quality, and it can provide a concrete basis for further discussion. basically the rejection email said that if this program had been submitted by someone with a Computer Science background the project wold have been funded, yeah it is that good. Thats what everybodys missing here. Dont worry about how to sell it, you cant sell it because you dont even own it and nobody buys ideas anyhow. The patent system related to video games and distribution of video media is pretty much broken, so having the patent doesnt really help you that much, in my opinion (and remember, Im not an attorney, my opinion is just my opinion, no claim of true expertise). Few people, however, focus on their managers ego. Hello Tim, Thank s In my case this is not just an idea. 1. Your managers manager? In such cases, consider whats in your managers purview and whether other managers would be better targets for your suggestions. Please suggest me what to do. Another way to test your idea is with a focus group, especially if you can gather a group of people similar to the target audience of your idea. Potential payment options to consider include: Consider what would benefit you the most, but also what makes the most sense for the company. All 4 of us are going to lose out because my idea is going to the grave with me. Well, this blog is on bplans.com, which is the worlds best free resource on how to develop a business plan, and one of the best on how to start a business. Dont sit around dreaming of the impossible. Not everyone is that greedy, not even all of the massive corporations out there. Although the law reads it recognizes this as original, the reality is its a cheat. Before you decide whether or not to go forward, write down your idea and read it back to yourself. He wanted to develop a show about an American kid (like himself) who travels to Japan to learn to play taiko drums, and he brought his drums and sticks into the pitch session. So while you do need to have some kind of identifiable embodiment you can start by proving your concept on paper. Remember from Chapter 1 "The Power to Get What You Want in Life" that a brand is unique, consistent, and relevant and has an emotional connection with its customers. You cant legally own an idea. Patents are for inventions, not ideas. I agree with him but I also have an idea. Its harder to fake the part. Instead of suggesting that the hospital hire additional public relations staff or create a costly and complicated process for handling the media, the doctor made one simple suggestion: erect a privacy barrier at the ambulance entrance, preventing the media from seeing arriving patients. The idea, business, customers, accurately described the way to make money. They live and breathe their business model. 1. create it yourself (with speed and quality), You have nothing. You need good advice to pull things off, but it can be done in the real world. A colleague who has more domain expertise or a better relationship with your boss might be more persuasive than you would be. If you can commit to the course you will find participating and learning from the wonderful teacher and other students in the class to be rewarding and encouraging.
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