KillerInnovations.com
philmckinney.com
How do you close a deal? When you pitch an idea as a creative person and an entrepreneur, how do you get people to say yes? There's always a risk when you do something new! So how can you take away fear and get that yes? Product licensing expert Stephen Key interviews Phil McKinney about how he tips deals over. Is it his team? Is it proof of demand?
Phil says, "Do your research and understand the company before you pitch." Doing your research is so important. Don't make people spend time educating you, which Phil describes as a turnoff. You can only be so open and so available to so many people. Phil shares that he had constant meetings listening to new ideas from startups and independent inventors when he lead the innovation team at HP as Chief Technology Officer, because he believes in the power of open innovation. You cannot innovate alone!
You must understand their customer and make sure you align with their goals. You have to stack value on top of something they're already making available. It may take years to convince them to go in a different direction than they already are!
Phil says, you need to ask for clarity. Is this something on your radar or not on your radar? You want to guard your time and your capital and not be strung along by people who are being nice.
Phil and Steve discuss why going after the biggest player on the block just doesn't make that much sense.
Make sure to watch our other videos with Phil and follow Phil's remarkable body of work about innovation.
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This is the book you need to license your product idea: “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: amzn.to/1LGotjB.
This is the book you need to file a well-written provisional patent application: “Sell Your Ideas With or Without a Patent.” Find it here: amzn.to/1T1dOU2.
Determined to become a professional inventor? Read Stephen's new book "Become a Professional Inventor: The Insider's Guide to Companies Looking For Ideas": www.amazon.com...
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