Initials Deal Made Easy

Move initials license

[Music] hello everyone and welcome to straight to life and scene with amy joe-- I'm inveterate coach Amy Jo Brogan and today I want to talk about how you manage your first conversation with potential licensees so usually how this process works so this is a lot of people are like okay I've submitted it you know I've been doing the submissions I'm getting into the companies and now they're writing back to me what do I do and this is when you know that you're in the game so I how do you know first off if you have interest basically any type of email or phone call that you receive from a potential licensee with with questions about your product or you know anything of that nature is considered initial interest right so as long as it's basically anything but a rejection then you have that initial interest you have the door that's open if you can start building that relationship with them now most of the time probably 99% of the time if not more companies are going to email you with their interest versus picking up the phone and calling you unannounced it does them calling you an announced that still happen but most of the time they're going to email you first right so that's going to give you an opportunity to try to evaluate how you're going to respond but no matter what you're going to want to try to schedule a call to get them on the phone the reason why we suggest that you do this is because like let's say you have a really good looking prototype so sometimes if you do and it's in your presentation that you've submitted to the company sometimes the companies are going to say interesting product can you send me a sample or can you send me a prototype right so you don't want to just right off the bat say yes what's your address right because you want to build that relationship if you don't get them on the phone and start building the relationship you need to know a little bit more about the company with their processes when it comes to evaluating products how familiar they are with licensing that's you know kind of puts you in basically it makes you and your products somewhat forgettable if you don't have those types of conversations so and that's again not always I mean we're trying to speak in general here but every conversation every situation when it comes to licensing is a case by case scenario but in general you want to get them on the phone to invest some time that's gonna show really what their level of interest is it's easy for somebody to send an email and say send me a prototype right but you want to make sure that again they're they're kind of earning it a little bit and you have the opportunity to gather some more information...