A New Twist On Licensing
Bob Oros of Business Development Resources www.bdrinnovate.com truly knows the ins and outs of working with corporations better than anyone else I know. After all, he has worked for major corporations marketing and developing over-the-counter products, foods and beverages, etc., for more years than he will admit to.
In 1983 he founded Business Development Resources, a marketing consultancy specializing in new business and new product development and innovation. BDR’s client roster is “bipolar” with corporate clients on one end and inventors and entrepreneurs on the other.
Domino’s Pizza “Heat Wave” delivery bag and P♥M Wonderful Pomegranate Juice are two projects in which the company played a major role from inception through strategic development.
Now here is a little secret that most people don’t know. A lot of corporate executives like to keep their hand in the business when they retire. They do this by becoming an Angel Investor, helping startups break into their field. However, most inventors hear Angel Investor and try to pitch their baby changing table to someone who spent a lifetime working for the Ralston Purina company then wonder why they didn’t seem interested.
Bob has spent his time developing relations with all the top people he comes in contact with and is now putting all that hard work to a new use. When he finds a project that he feels has potential but the client may not have the resources to develop it properly, he calls upon his contacts “In That Field” to see if they have an interest. This is HUGE !!!
Just imagine, an inventor goes to XYZ Company with a product that is perfect for them, the VP of Product Development actually likes the product but isn’t too sure. The safest answer is NO. Now imagine that same VP gets a call from the person who had his job before they retired and mentions that they invested in this product. If you were that VP would you be more inclined to give it more attention? I think so.
Most of the information out there regarding licensing to large companies is far from the truth. As he did in the past, Mr. Oros will also be giving us a no holds barred, slap in the face, reality check on how to get your product licensed to real corporations. It may not be easy but it can be done if you approach it correctly .
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