hello welcome to learn been tried comm
TV show my name is Andrew Krause I
co-founded invent write with Stephen key
over 18 years ago and be coaching and
mentoring vendors ever since make sure
to check out invent write calm so today
we're going to talk about how to sell
your invention I'm sure that was a title
that intrigued a lot of you and I think
it's a very very important topic but
it's not what you think what I want to
clarify is that a lot of folks they
don't know how to sell their invention
and they're holding themselves back by
having incorrect thoughts about how to
sell their invention things that you
think you need that you don't need okay
so what you're truly selling when you're
selling your invention is the benefit of
your product so what does that mean so
the benefit of your product is it helps
you flip burgers without them falling
apart helps you jack up your car with
half the effort those are examples of
benefits it's not a long drawn-out
description about your product it's the
benefit of the product so that's one
point that I want to make another point
is that people think they need things to
sell their invention that they don't
need so what is one thing that people
think they need they think they need a
patent you don't you only need a
provisional patent application which you
can file for seventy dollars okay that's
the patent office filing fee so if you
think you're selling your patent you are
so wrong that's just the protection for
your product that's not what you're
selling you're selling the ability to
jack up a car with half the effort
that's what you're selling
you're not even selling the jack itself
you're selling that benefit you are
selling the jack itself but you get the
idea you're selling the ability to jack
up that car with half the effort okay so
that's what you're truly selling so when
you're as an inventor in the mindset
that I'm selling my patent my patent my
patent my patent you're in completely
the wrong mindset and it will mess you
up and you never want to say that to a
company
either because now they're all focusing
on the patent and not the benefit the
product then you get wrapped up in
talking about the protection of the
patent that's not the direction you want
to go unless that's where they take it
we teach our students how to handle that
but that's not what you're selling you
are not selling your patent okay another
thing that you're not selling is your
prototype so I was explaining how people
thinking they need 10 grand for a patent
is holding them back well if I'm selling
my patent
I need strong patents so I'm gonna pay
10 grand to an attorney know you're
gonna get a provisional patent done and
it's only gonna cost you 70 dollars and
you can do it in common English we have
some software on our website called
smart IP that can help you do that so if
you're thinking you're selling your pad
and you're wrong if you think you're
selling your prototype you're wrong
you're not selling your prototype and it
could be again very expensive if you
think you need this production ready
beautiful prototype and I'm selling this
prototype you're wrong because what are
you truly selling what did I say at the
beginning the video you're selling the
benefit of your product the ability to
jack up a car in half the time you're
not selling that prototype so how can
that hold an inventor back to think that
you need this production ready beautiful
prototype you know let's say it's the
car jack okay so if you know that they
can make it but you're having a hard
time making it why are you making it why
you know if you can explain that well
I'm using this type of Jack technology
and I'm doing this in this and you maybe
you just reference some other products
they're like oh yeah yeah we and you can
get them to make the prototype right so
the fact that you think you either need
to spend the money that you don't have
to make a prototype that you don't need
or you just feel like you have to have
that prototype otherwise they won't be
interested well they're not buying your
prototype that's not what they're gonna
sell they're gonna sell the benefit of
your product so the things that what you
how to sell your invention is to realize
that you're selling the benefit of your
product that you're not selling your
prototype and you're not selling your
pet so the real way to sell your
invention is to properly illustrate the
benefit of your product and how do you
do that you do that with a sell sheet or
you do it with a video if it's a sell
sheet they need to understand it in six
to ten seconds a sell sheet is basically
a one page advertisement think
magazine ad you're flipping through a
magazine you got to get what they're
selling really quick because nobody's
gonna spend a ton of time trying to
figure it out so and what are you
selling there you're not rambling on and
on well it's this Jack that has this
pneumatic this and this and this and
you're listening all these boring
features no it's like jack up your car
with half the effort right that's the
benefit of your product so what you're
truly selling is the benefits and how
you do that is a sell sheet or a video
maybe it's a thirty to sixty second
video so how you sell your invention is
not to get obsessed about patents it's
not to get obsessed about prototypes are
those things that you have to do in one
shape or another as I described
absolutely you may have a crude
prototype but they'll you know that they
can make a better one you just can't and
you know that they can manufacture it
you just can't why would you not pitch
your product to companies just because
you can't make this beautiful prototype
so these are things that are holding
inventors back big time and this is how
you truly sell your invention which is
to sell the benefits with a sell sheet
or a video so I hope you found this
really helpful my name is Andrew Kraus
I'm the co-founder of invent write calm
check out the website watch more videos
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