Use these simple steps and questions to make the right contacts
BY DON DEBELAK
Tips for inventors to start conversations with potential contacts in their target market:
Find your trade magazines. These are a special category and not generally available to the public. Bicycle Retailer & Industry News is an example of a trade magazine that targets component suppliers, bicycle manufacturers, bicycle retailers, distributors, sales agents and anyone else in the supply chain for bicycles. Find trade magazines through an internet search.
In addition to articles about industry news and new developments in the industry, trade magazines also publish a directory about once a year with everyone involved in each category, including manufacturers and sales organizations.
Inventors can also get a list of contacts at those companies from articles on industry news, and from news on who has been hired or promoted. Especially helpful is a section on new products or other offerings from companies where inventors can request information.
Find your trade shows. Trade magazines often sponsor industry trade shows, or at a minimum will list which trade shows are coming up. Inventors have a lot to gain by being an attendee (someone without a booth) prior to launching their invention.
Trade shows are not meant for the public, but typically you can attend if you state you are an inventor with a new product that you expect to launch in the next year. These shows are full of potential contacts for you, if you plan on introducing your idea, or if you plan on licensing it.
A few insider tips:
- Booths are typically not busy for the first hour of the show and the last 90 minutes. People at booths will often be happy to talk to you when they are not busy.
- Booths are typically not busy the last day of the show, so you can make contacts with exhibitors.
- Trade shows almost always have a welcoming reception the first evening of the show where you mingle with contacts and find people who might support you.
- Trade shows have large tables, seating eight to 10 people at their refreshment areas. When the show is busy, sit at those tables and talk to people.
Nurture your contacts. Once you have a promising contact, keep in touch every 3-4 months. You can do this with updates on your progress. Even with nothing to report, you should still send an email.
You can use the industry news to pick out an email topic. Examples might be “What do you think of the new transmission product from X company,” or “What do you think of the sales agreement between X and Y companies?”
Know conversation points. New inventors may not have a ready list of questions or comments to start the conversation. Here are some.
“Hi, I am the inventor of a bicycle product for pet owners and hope to launch my product next year at the show. I’m trying to get a better understanding of how the industry works and wondered if I could ask you a few questions.
“How long has your company been in business?
“How did your company start?
“Has your company had any recent new products?
“How does your company sell its products?
“Are there many inventor-led companies in the industry? Are there any that have started within the last five years?
“Are there leading companies in the bike accessory market, or is it dominated by distributors?
“What do you like best about the industry?
“Are there things about the industry you don’t like?
“Does the industry have a lot of new products?
“Do you feel this is a good time to be introducing a new product?
“Do you know of any products that were licensed by a company from an inventor?
Then, ask questions that flow from your conversation.
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