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How to Pitch an Invention Idea to Companies

If you have a great idea for a good invention that will solve some sort of existing problem in the world, then you need to know how to pitch an invention idea to companies. That way you can get your invention mass produced and hopefully make a lot of money! Here are some great ideas for beginning entrepreneurs.

Here are a few suggestions on getting your idea out:

Think about getting a patent

If you are granted a patent for your new invention, then many companies will take your idea much more seriously. In fact, some places won’t even talk to you unless you do have a patent already. That’s because without one you wouldn’t have any protection against another company making your item without your consent.

Considering a patent is always a good idea when you have an invention idea that you know will be successful. A lot of companies will avoid unpatented invention ideas because any other company could just start producing the same product. If you do need help, then InventHelp is one place that is geared to help inventors to get a patent, as well as do many other things related to getting a new invention out on the market.

You have to do some research

If you are considering producing a new product, you can’t expect to be successful unless you have done the proper homework. You have to know your market as well as know your competition in that market. You have to know all the ins and outs of everything involved in developing, producing and selling a brand-new product to the world.

Plus, unless you know everything about the companies you plan to pitch your idea to, there is no way you are going to know how to convince them to invest their money and time into that idea! You have to custom your idea pitch to each and every different place you speak to so they know you have done the proper research. Because if you trust in your idea, that will come through in your pitch and give you a better chance at success.

You must pick the right companies to try to sell your invention

First and foremost, you have to pick the right place to sell your idea to. It won’t do you an good to go to for instance a company that makes motorcycles and try to get them to produce a brand-new kind of vacuum cleaner. You have to choose one that makes products similar to whatever your new invention is designed to work in or solves a problem in that industry. If you are unsure, places that can help you figure it out include InventHelp.

Know what you need to make your product real

Another necessary thing is to have a good idea of what’s required to make your invention real. Do you need more research and development? Or is it ready to go and you just need a manufacturer? Do you need a special kind of gear or material? How much money do you think you need to get started? All these questions and more are needed prior to going to talk to a company. You can’t just go there and beg for money. They have to know why it makes sense for them to invest money and what is in it for them.

Make sure to have a demo or working prototype

It’s also vital to have a demo of some kind or a working prototype of your invention. Being able to show how it would work and solve or meet the need its created for goes a long way to convince a company to invest in your product. You can also show it to a few friends and family and see if they want to invest in your idea. Talk to everyone you can think of. You never know who may either be able to help or know someone you can turn to.

If nothing else, at least have a drawing of your prototype that shows how it is supposed to work. Or you could even use some kind of 3D printing and get something that may not work, but at least show what the item would look like and perhaps its size, etc. If you have actual samples of working models, then pass them out for people to try.

You need to be able to explain it to the place step by step and make them understand how and why it works and that you are really confident that it is the next best thing to sliced bread!

All in all, coming up with an idea for a new invention is hard enough, but finding the correct people to pitch it to and doing a good job in that is also something vital. Make sure you do the proper research, talk to the right people, and get the help you need from places like InvestHelp today!