You’ve only got one chance to make the right impression. Present the right story, and you’re potential licensing partner will be interested. Show them the wrong one, and they’ll walk away.
The goal of your presentation is to get a “yes we’re interested” answer. Your presentation must be concise and tell the right story. To help you make the best impression, here’s a list of 5 keys to a successful licensing presentation:
- Do Your Homework: Make sure you have the right kind of information about your intellectual property to present to potential licensing partners. Even if your IP is very technical, don’t make your presentation “tech heavy”. Remember, you will most likely be meeting with marketing, sales and product development folks. Before each presentation, I do some quick research and use this information to support why and how the IP fits their business model. You can use your research to ask some questions before starting the presentation to see if anything has changed, and if so, then adjust your presentation based on that updated information.
- Show them the Money: In almost every presentation I’ve made, one of the first questions asked is will the IP make money. When it comes to selling the license, nothing sells the deal like numbers promising future success. Key numbers to include are the size of the market, potential sales, and profit margins. Numbers paint a much more compelling picture than words about the market potential of an IP. Show numbers early and often – and be ready to prove their validity. I like to use graphs to show the numbers. It’s easier to grasp and show then a bunch of numbers on a spreadsheet. One last critical point. Don’t over hype the numbers. This is a mistake many IP owners make. Nothing puts off a potential licensing partner faster than a lot of hot air hype.
- Focus on what matters: Don’t veer off on to the road of irrelevancy and into blind alleys of pointlessness. Here is an example of the difference between something you would want to focus on and what is irrelevant in your licensing presentation. “Our IP was featured in XYZ Magazine’s 100 Coolest Things of the Year special.” This is worth focusing on because it demonstrates a genuine public interest in the products or services created from your IP. Now, by contrast, here is something you probably would not want to focus on in your licensing presentation. “It took six months to develop the prototype.” Remember to also make sure your IP fits with the licensees business. If they produce mass market products, and your IP is a niche product, it’s not going to fit their business model. By staying laser-focused on the benefits of licensing your IP, you can lead the potential licensee down the road of wanting to license your IP.
- Make it Logical: Deliver the presentation in a logical sequence, with each slide or point building upon earlier ones. I’ve met with inventors who immediately start telling me how much their invention will make before describing what their invention is and how it works. Don’t start talking about projected sales and profit before explaining the IP. If the licensee doesn’t know how or what your IP does, your numbers won’t make sense, plus you’ll wind up explaining them again once they understand your IP. Some important questions you must address include why your IP adds value for their customers, how they will generate more sales, and what kind of support you’ll provide to insure their success.
- Keep it short: You’re not telling your life story. Don’t waste time telling the history of how you developed your IP. Your licensing partner is only interested in how your IP increases their revenue. If you’re using Powerpoint, keep it to 8 – 10 slides. Any more, and you’ll lose people’s attention. Use pictures to show and tell your IP story. Remember, potential licensing partners are running a business. Their time is valuable and unless you get right to the point, they’ll quickly lose interest.
Be energetic and deliver your presentation with passion. Engage your potential licensing partner and prove the value your IP brings to their business. Do your homework, and make sure your IP fits the licensees business. Most important, keep it short, to the point and make sure you detail how and why they’ll make money with your IP.