Market Idea

[BornForThis]

Hello everybody, I have a dillema and am need of some advice. I believe a market is out there to make lots of money and I can prove to a corporation that this market is ready to make lots of money. I have general ideas to go about this, but I know my ideas are good but the higher ups for a corporation would most likely have a better way to go about it. So is there anyway I could gain compensation for informing them of this market and showing them how much money there is to be made and maybe giving the company some general ideas? Thanks for reading.

[daveb1]

It is my experience that most corporations will not just pay some random person for an idea. You either have to have a really strong connection with some one on the inside of an organization or get extremely lucky.

In most cases of someone having a hit "idea" no one will really ever care about it unless you somehow put it into action yourself or add a ton of physical substance to the dream.

Most ideas are not worth very much on there own merit and it is truly about execution and resources. There are very few markets that someone has not thought about, tried or are exploiting in some form or another. The ones that do exist are extremely rare and no one really knows what they are because nobody can predict the future.

Maybe put together a pitch and try to get some Angel investors on board.

[Gary Barzel]

I would suggest you put your idea to work and start pitching it to small businesses. You have a much better chance at it succeeding that way. If it is successful you can always try marketing it to larger corporations as you gain more experience with it. Also once you have a number of businesses that it worked for, you will have a much easier chance at convincing someone from a corporation to listen to your idea.

[bizz]

why don't you want to work on the idea yourself but share it with other corporations. you could make that money for yourself.

[softmiki]

It is my experience that most corporations will not just pay some random person for an idea. You either have to have a really strong connection with some one on the inside of an organization or get extremely lucky.

In most cases of someone having a hit "idea" no one will really ever care about it unless you somehow put it into action yourself or add a ton of physical substance to the dream.

Most ideas are not worth very much on there own merit and it is truly about execution and resources. There are very few markets that someone has not thought about, tried or are exploiting in some form or another. The ones that do exist are extremely rare and no one really knows what they are because nobody can predict the future.

Maybe put together a pitch and try to get some Angel investors on board.

@daveb1

Really nice reply...thanks..

[digitalendurance]

The time is right to be your own boss and take your idea to market. But you're not sure what it will take to get there.

[Uli]

There are things you can write up with a solicitor, but that's fairly costly and you'll need a great pitch in order to do that.

That having been said, large business owners are more concerned with the strategy or system rather than an idea. Like daveb1 said, it's about resources and execution. An idea might be great, but more often than not, the execution of that idea changes by the time it's implemented.

If in fact you are going to pitch them, here's a few tips:

1. Always go in with an offer first and request second. What I mean by this is novice salespeople or business owners will often say things like: "would you like to join as a VIP member? You'll get 10% off". (this is request first offer second).

A better way to say it is with the offer upfront: "Would you like to get 10% off? If you join as a VIP member all further purchases will get 10% off". Always tell people what THEY get FIRST and what they have to trade in order for that SECOND.

2. Structure your pitch with:
- A statement
- then evidence
- then benefit.
People don't buy an idea, they buy the BENEFIT that the idea will give them. For example, people don't buy a drill, they buy what the drill can do for them i.e. drill holes.

3. NEVER GO IN BLIND. Always try and find out as much as you can about the company, what they do, what they want, where they're trying to expand, what they believe in etc.

4. Selling (or pitching) is a systematic process. You need to:

a) generate interest -this can be done through statistics, shocking statements, mystery, questions etc.
b) build rapport -find common interests, model their body language, language patterns etc.
c) understand needs -figure out what they want and why etc.
d) build interest and desire -dream build, talk about benefits etc.
e) find their convincing reason to buy -why those benefits are important to them.
f) overcome objections (make sure you think about every possible objection they could have and how you can overcome this)
g) assume the sale and close. (tell them what they need to do)

The whole time you'll need to asses where they're at, and you can do this by test closing. e.g. "In your opinion, if you were do this today, would you want it in the blue or red?"

Try and get smaller commitments along the way, they will build up to a larger one (i.e. the sale) and you won't have to try and hard sell them or overcome so many objections at the end.

There's a fair bit more to sales or a pitch than this, but this is just a simple run-down to help you out ;-)