In This Chapter

No one buys an idea. To have any chance of licensing your concept for a new product, you need to present some form of model or a PowerPoint presentation, at a minimum. It’s show and tell. But if you don’t have the time, money, skills, or commitment to follow through on this critical step, the odds of ever licensing your brainchild are reduced to practically zero.

Manufacturers react best to physical objects, not theories, so don’t count on anyone being able to imagine what your idea will look like or how it will operate. Even if they were capable of doing so, executives don’t usually have the time or interest to engage insuch exercises, nor the stomach to invest in dreams. When it comes to new ideas, licensees are all from Missouri, and you gotta show ’em.