Before you assume the worst, let me explain one thing. Licensing the easy way must include cold calling if you want to succeed. I will admit, some people do get lucky with cold emailing or other warm greetings, but is their idea gold or is their approach nailed down? Everything is a factor when trying to get your idea scene by the right people.
Here’s a few simple questions to ask yourself before you make the call:
- Is the timing right?
- Do I have my 15 sec opening speech memorized?
- Do I know my idea by heart so I can answer every rebuttal?
- Do I have all the manufacturing priorities & pricing info needed?
- Competitors and marketplace influence?
- All the forms, paperwork, cell sheets ready to send right after the call?
These are just a few, so let’s break some of these down on knowing what you can plan for ahead.
Is the timing right?
Ask yourself this, if you’re sitting at the office on a Friday and the clock reads 4:45pm and you have a dinner to get to at 5:30pm and the phone rings, you answer it, and someone just starts blabbing away about something you have no idea about, the kind thing you would do is “Oh wow, that idea sounds awesome. Let’s do this, I’m about to step out of the office for a meeting, go ahead and email me everything you have and come Monday, I will take a look and get back to you”. I’m assuming you’ve probably heard that line before, coincidence? I wouldn’t think so. The best steps to take here would be to:
- Know when to call. Best times would be Monday – Thursday 10am to about 3pm, and the timezone they are located in.
- If you know they are giving you the shoulder, set them up, ask for a quick catch up in a day or two and give two different times for them to choose from.
- Be a straight talker, never beat around the bush. They don’t know you and you don’t know them so why drag something out.
- Be polite and sincere, you know everything, they don’t. Just because they are not getting it, mean’s you’re not telling it right.
- If a rescheduled time is made, DO NOT BE LATE, actually call three minutes before the scheduled time.
Do I have my 15 sec opening speech memorized and nailed down?
When it comes to how far you’re going to get with the first phone call determines on the 1st 10-15 seconds of what you tell that person on the other line. This subject is based on who, what, why, how much, and lastly *this person sounds like a telemarketer to me* “no thanks, not interested”. I can’t give you really any tips on what to say, but I can tell you this; know your product, sound confident, and lastly know your product some more. This is a dog eat dog world out there, and when someone picks up the phone, the last thing they want to hear is a sales pitch. Here’s some simple advice to get started with:
- Sound confident
- Talk slow
- Know your product
- Don’t sound like your reading something
- Don’t sound like a salesman
- Talk slower
- Don’t use to many big words to sound super professional
You could be reading this after making 100′s of phone calls and not getting anywhere and wanting some advice. You want to license your idea right, well ask yourself this, do you think everyone who’s getting somewhere is nailing the first call they make? hell no.
If licensing was easy to do, everyone would be doing it. Not everyone is capable of getting their ideas licensed or patented.
Need some help with licensing your ideas, or want some feedback?
If you need any help, please feel free to contact me
If you would like other opinions also, please feel free to let us know about your intro speech in the comments below and the readers will gladly help or critique your opening speech. If you would like some help about cold calling or some techniques about cold calling, be sure to check out these helpful tips:
Art Sobczak – Wishing for the business, just ask for it