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Pitching to Win and Winning that Pitch

Written by: Lee Lister

Article Overview: You’ve got a viable product, you know that this large company would be very interested in it – you are now entering a high risk area – pitching your product to a much larger company.

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Pitching to Win and Winning that Pitch

You’ve got a viable product, you know that this large company would be very interested in it – you are now entering a high risk area – pitching your product to a much larger company.

A couple of things to think about before you start. The large company has more resources, more money and more lawyers at their disposal so you need to protect yourself as much as possible first of all.

Secondly, are you sure that your idea is not one that the large company is presently developing? They won’t tell you of course, but if your product is an enhancement of one of the large company’s existing products, then don’t be surprised if you are turned down and “your” idea comes to the market shortly afterwards.

Now you need to prepare:
* Make sure you have a patent for your product. This is so important and provides you some protection if your concept is stolen.
* Investigate your target company and fully understand what they sell and to whom.
* Understand how your product will fit into their product range.
* Define what benefits the target company will obtain from your new product.
* Produce an overview of likely costs and benefits to your target company. Companies will only be interested in a new product that makes them a healthy product.
* Make good working prototypes of your product, with packaging, if you have got this, as well.
* Prepare a good presentation – lasting about 10 minutes that will hopefully spark interest in your new product.
* Have a good understanding of what you hope to achieve from the pitch – sale of the idea/consultancy/licensing, partnership etc.

Lastly, be confident, clear AND listen to what the large company are saying – they have been in the business for longer and are more successful than you are – they must be doing something right.

So if you plan to present an idea to a large company, be prepared to do so completely at your own risk. Look up the story of Dyson to learn some valuable lessons.

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Home > Starting-A-Business > Lee Lister > Pitching to Win and Winning that Pitch
Article Tags: dyson, enhancement, existing products, good understanding, high risk, larger company, lawyers, money, partnership, patent, pitch, prototypes, risk area, target company, viable product

About the Author: Lee Lister
RSS for Lee's articles - Visit Lee's website

Lee Lister is a Business Consultant with more than 25 year's consultancy experience for many household names. She is known as The Bid Manager or The Biz Guru.

From an early age she began an unparalleled journey through business consulting that continues to span across the UK, USA, Europe and Asia. She has consulted for a considerable number of companies all over the world. Specialising in business change management, start up consultancy and trouble shooting. Lee's experience in marketing and internet marketing is also keenly sought after.

She is a prolific published writer of books, ebooks and articles and can easily be found on major search engine and Amazon. Her books include: FastTrack Bid Management, Proposal Writing For Smaller Businesses, How Much Does It Cost To Start A Business, Entrepreneur's Apprentice and a series of Start My New Business books that do as they say in the title!

Her major web sites are:
http://www.BizGuru.us
http://www.Bid-Manager.com
http://www.MarketingGuerrillas.com
http://www.StartMyNewBusiness.com



Click here to visit Lee's website
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