By Omar Barraza
You're going to find that companies are interested in ideas that will directly save them money first, followed by ideas that might make them money. This means you need to think about strategy and find an answer to the question "Why would [specific company name] be interested in buying my idea?" If you're wondering why saving money is preferred, the reason is simple. Saving money is lower risk.
For example, an idea designed to make a company money by selling more products will require marketing, selling, and other expenses before it has a chance of success. An idea that could save money won't cost them anything if it works since the savings will recover its costs. In a worst-case scenario, the idea won't cost much if it doesn't work well since it probably will never be implemented.
So ask yourself, will your idea save the company money? If not, can the idea be transformed so that it will? It would be ideal if you can get to yes on these questions.
You're going to find that companies are interested in ideas that will directly save them money first, followed by ideas that might make them money. This means you need to think about strategy and find an answer to the question "Why would [specific company name] be interested in buying my idea?" If you're wondering why saving money is preferred, the reason is simple. Saving money is lower risk.
For example, an idea designed to make a company money by selling more products will require marketing, selling, and other expenses before it has a chance of success. An idea that could save money won't cost them anything if it works since the savings will recover its costs. In a worst-case scenario, the idea won't cost much if it doesn't work well since it probably will never be implemented.
So ask yourself, will your idea save the company money? If not, can the idea be transformed so that it will? It would be ideal if you can get to yes on these questions.
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