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THE
ONLINE INVENTOR – June 2007 issue
(c)
2007 Market Launchers, Inc.
http://www.marketlaunchers.com
Editor:
Paul Niemann
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Dear
Inventor –
If
you wish to advertise in our humble little newsletter (and reach more than 2,200
inventors), please e-mail me at [email protected]
or call (217) 224-8194 for details. Thanks.
FAMOUS
/ INFAMOUS Quotes …
“You’ll
miss 100% of the shots you don’t take” --
The Great One, Wayne Gretzky
Now,
on with this week’s issue …
Article
# 2: “The
Auction Approach – How It Can Benefit You”
Best
Regards,
Paul
Niemann
http://www.MarketLaunchers.com
800-337-5758
217-224-8194
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“The
Auction Approach – How It Can Benefit You”
By
Paul Niemann of MarketLaunchers.com
I
get a lot of calls and e-mails from inventors telling me that they have a
manufacturer interested in their product. I say, “Great! Now go get another
manufacturer interested in your product.”
Why?
There
are a couple of reasons …
1.
What if this one manufacturer doesn’t work out?
2.
What better way to get yourself as good a deal as possible than by having
two or more companies bidding on your invention? It doubles your odds AND drives
your price up.
Negotiating
with 2 or more companies for the rights to your invention also takes some of the
pressure off you to get a deal done, because you know that it’s not the end of
the world if the first one doesn’t work out.
I
went to a horse auction last week … (continued after the ad) …
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…
and at the horse auction I noticed how the auctioneer is always in control
because he has multiple buyers bidding on the products. It is this process of
having multiple buyers bidding that drives the price up and ensures that each
product gets sold.
Now,
that’s a pretty basic statement, but there’s a message here for inventors
who are trying to license their products. I’ve said it before but it’s worth
repeating: Once you enter talks with a company about acquiring your invention,
that’s the best time to line up another company (i.e. the first company’s
competitor).
Why?
Just
like with the auctioneer, you will be in control of your own destiny when you
have 2 or more buyers. And it drives your price up (the best thing is that you
don’t have to learn how to rap like an auctioneer).
One
more thing: In case you’ve ever wondered why the auctioneer talks the way he
does, it’s because it results in a higher selling price. Don’t ask me why!
#
# #
Paul
Niemann runs MarketLaunchers.com, building web pages for inventors. Visit http://www.marketlaunchers.com/forms.html
for details and pricing.
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