Showing a Product to a Company. What all should I prepare?

Hey guys. That time is coming up for me soon. With my project going to be done by the end of the month, I'll hopefully be showing it to a few companies soon. Basically, I have a patent pending device I want to show to some major companies. I want to make sure I have absolutely everything I need to make a sale/licensing agreement.

 

So far, I have prepared or am still working on:

 

1.) A clean, fully functional, prototype to give a full presentation to the Company(s)

2.) Professionally printed brochures that contain statistics and information about the device.

3.) Binders with production estimates and technological information

4.) A presentation/promotional video

5.) NON-DISCLOSURE AGREEMENTS

 

 

I feel like I'm forgetting something. Can anyone who has experience with this give me a few tips? I'd greatly appreciate it! Thank you!

The only thing you have to show them is how you going to make them money!

 

Good luck with your presentation!

The only thing you have to show them is how you going to make them money!

 

Good luck with your presentation!

 

Thank you, Fortis! I see it as one of many presentations I'm going to give in life and as a stepping stone to a better path. It's money they're going to make!

Are you showing it to someone for manufacturing or for sales?

Are you showing it to someone for manufacturing or for sales?

 

 

I'm going to sell or license my patent to a company so they can manufacture it.

You need to practice this entire presentation until you can do it in your sleep. Do not look like amateur hour checking your notes for stats, etc. You need to know this shit inside and out, and be ready to answer a million questions on any data you have, how you came to those numbers, etc.

 

If you're not super comfortable with public speaking, GO PRACTICE! (yes, there are groups to do this)

 

The group you're presenting to likely has decades of experience in this market, and know ALL the data stats to a Ph.d. level. They will be un-bullshit-able.

 

Be confident, but not arrogant, and honest.

 

Your whole point should be driving home how this will gain them a significant market share (hint, FIND OUT WHAT THEIRS IS!) Make it look like you know as much about their company as they do. Deliver it like they are who YOU want to run with this, that you have done your research, and it's worth taking the time of guys who are collectively costing the company $5k/hr to sit there and listen to you.

 

If you don't know something, be honest and own it, and let them know you will get back to them right away with the answer. Building trust is paramount to offering up any answer.

 

Don't stress production costs at this point. They know you don't have the capacity or resources they do, and it will cost them a fraction of anything you could cobble together. If they are interested in the tech, they will run the numbers and see what it will cost to implement. Modifying their existing production line might be more of a headache than actually getting your parts built. So make it look SUPER SIMPLE to implement.

I have sat in on more then a few of these meetings...

 

1. NUMBERS!!!! You need a run down of all the parts and components, how many and how much each component costs (even if you payed retail thats fine.)

2. NUMBERS!!!! A run down of tools and special machinery needed for production.

3. NUMBERS!!!! What sort of personal is needed to manufacture, how many, and do they need special training

 

 

I would just add, look at all the reasons why they wouldn't or shouldn't do it and build arguments to counter them. If you are prepared to be shot to pieces, you should be fine.

No advice to give, but Good luck!

I'm going to sell or license my patent to a company so they can manufacture it.

 

My company is a manufacturer, we do metal stamping, laser cutting, injection molding, robotic welding, blow molding, rotational molding, screw machine parts and more. If your product falls into any of these categories send me an NDA and I can take it look at it for you. I am the guy here that decides what we do and don't take on for new projects. I also negotiate the royalty percentage on the products we do take on. We currently mold over 1600 different products in plastics and close to 500 products in the metals division.

You need to practice this entire presentation until you can do it in your sleep. Do not look like amateur hour checking your notes for stats, etc. You need to know this shit inside and out, and be ready to answer a million questions on any data you have, how you came to those numbers, etc.

 

Be confident, but not arrogant, and honest.

 

If you don't know something, be honest and own it, and let them know you will get back to them right away with the answer. Building trust is paramount to offering up any answer.

 

That about sums it up. You will be surprised on how calm you would be if you know everything inside out.

 

Good luck and all the best!

 

Doc_k ..you're going to kill!!!! Just try to relax and as said above let your total knowledge of the product be your guide. You will need to build rapport and inspire confidence. Look people in the eye when speaking to them, and let your body language project knowledge and authority. Best of luck!!!!! Go get 'em tiger!!

You need to practice this entire presentation until you can do it in your sleep. Do not look like amateur hour checking your notes for stats, etc. You need to know this shit inside and out, and be ready to answer a million questions on any data you have, how you came to those numbers, etc.

 

If you're not super comfortable with public speaking, GO PRACTICE! (yes, there are groups to do this)

 

The group you're presenting to likely has decades of experience in this market, and know ALL the data stats to a Ph.d. level. They will be un-bullshit-able.

 

Be confident, but not arrogant, and honest.

 

Your whole point should be driving home how this will gain them a significant market share (hint, FIND OUT WHAT THEIRS IS!) Make it look like you know as much about their company as they do. Deliver it like they are who YOU want to run with this, that you have done your research, and it's worth taking the time of guys who are collectively costing the company $5k/hr to sit there and listen to you.

 

If you don't know something, be honest and own it, and let them know you will get back to them right away with the answer. Building trust is paramount to offering up any answer.

 

Don't stress production costs at this point. They know you don't have the capacity or resources they do, and it will cost them a fraction of anything you could cobble together. If they are interested in the tech, they will run the numbers and see what it will cost to implement. Modifying their existing production line might be more of a headache than actually getting your parts built. So make it look SUPER SIMPLE to implement.

 

Emanon, Thank you very much for the advice! I really enjoy talking in front of groups of people, which is definitely a positive for me. I'm used to giving briefs to the Captains where I work.

 

 

I have sat in on more then a few of these meetings...

 

1. NUMBERS!!!! You need a run down of all the parts and components, how many and how much each component costs (even if you payed retail thats fine.)

2. NUMBERS!!!! A run down of tools and special machinery needed for production.

3. NUMBERS!!!! What sort of personal is needed to manufacture, how many, and do they need special training

 

Thanks Hollywood!

 

I would just add, look at all the reasons why they wouldn't or shouldn't do it and build arguments to counter them. If you are prepared to be shot to pieces, you should be fine.

 

Thanks, man!

 

No advice to give, but Good luck!

 

Thanks, man! I really appreciate it! I'm trying to stay motivated.

 

 

My company is a manufacturer, we do metal stamping, laser cutting, injection molding, robotic welding, blow molding, rotational molding, screw machine parts and more. If your product falls into any of these categories send me an NDA and I can take it look at it for you. I am the guy here that decides what we do and don't take on for new projects. I also negotiate the royalty percentage on the products we do take on. We currently mold over 1600 different products in plastics and close to 500 products in the metals division.

 

Thanks, Minte! I still need to send you a NDA and CAD file that I designed. I appreciate it very much for you reaching out!

 

 

That about sums it up. You will be surprised on how calm you would be if you know everything inside out.

 

Good luck and all the best!

 

Thanks VCR! I'll let everyone know when this thing kicks off. Hopefully sooner than later.

 

 

Doc_k ..you're going to kill!!!! Just try to relax and as said above let your total knowledge of the product be your guide. You will need to build rapport and inspire confidence. Look people in the eye when speaking to them, and let your body language project knowledge and authority. Best of luck!!!!! Go get 'em tiger!!

 

Thanks man! I really appreciate the advice!

Good luck, kick ass and trust yourself and your product.

 

Oh and bring a backup version of the product. This happen so make sure you are prepared!