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How Long Should You Wait For a Company To Respond?
by Roger Brown » Wed Jun 10, 2009 12:35 pm
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Roger Brown - Black Belt
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I have gotten this question about 8 times so far this month so I thought I would post this.
Patience is one of the hardest things to have and maintain. I am like anyone else I would love to send my idea in on Monday, get a yes by tuesday, sign contracts Wednesday, see it on stores shelves Thursday, get my royalty check Friday, celebrate and party Saturday and crash on Sunday. Then start the process all over again. the next week
Unfortunately, the reality is that every company has its own process. Some move fast others are slow and take forever. When I contact a company and they agree to look over my submissions one of the questions I ask them is "what is your normal turnaround time for repsonses?"
I tell them the truth up front. "I ask this so I don't bug you and allow you the time you need to make an informed decision." I have never had a company tell me that they don't want to answer that question. Actually most are grateful you ask this and it makes you look more professional and respectful of their process.
Once I know their process I enter it in a database I have developed so I can refer to it anytime I go to submit another idea to them.
An example: Progressive International only looks at submissions the first week of every month. So, depending on when you submit your idea to them you can be waiting a month for a response.
I hope this helps.
Patience is one of the hardest things to have and maintain. I am like anyone else I would love to send my idea in on Monday, get a yes by tuesday, sign contracts Wednesday, see it on stores shelves Thursday, get my royalty check Friday, celebrate and party Saturday and crash on Sunday. Then start the process all over again. the next week
Unfortunately, the reality is that every company has its own process. Some move fast others are slow and take forever. When I contact a company and they agree to look over my submissions one of the questions I ask them is "what is your normal turnaround time for repsonses?"
I tell them the truth up front. "I ask this so I don't bug you and allow you the time you need to make an informed decision." I have never had a company tell me that they don't want to answer that question. Actually most are grateful you ask this and it makes you look more professional and respectful of their process.
Once I know their process I enter it in a database I have developed so I can refer to it anytime I go to submit another idea to them.
An example: Progressive International only looks at submissions the first week of every month. So, depending on when you submit your idea to them you can be waiting a month for a response.
I hope this helps.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.
Re: How Long Should You Wait For a Company To Respond?
by StephenKey » Wed Jun 10, 2009 1:19 pm
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StephenKey - Blue Belt
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Roger great advice. If you understand their evaluation/submission process it makes waiting a little easier. Remember always be there to answer their questions, supplied them with the tools they need to make a decision, you don't want to be a pest or maybe a polite pest. The two most important questions they will ask themselves is ,how much is this going to cost, and how do we manufacture it. So along with your sell sheet have that additional information. You can always find a contract manufacture to quote your product/idea. This information is extremely important. I recommend filing a PPA then find a contract manufacturer for pricing, find that right licensee, submit your idea, and then call up other potential licensees. Repeat process over and over again, it's a numbers game.
Award Winning Inventor Stephen Key - http://www.inventright.com
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.
Re: How Long Should You Wait For a Company To Respond?
by BrandyInOregon » Tue Jun 16, 2009 4:26 pm
- BrandyInOregon
- White Belt
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- Joined: Tue Jun 16, 2009 4:16 pm
Hi! This is my first visit here, and can't believe I found the question I was wanting to ask. We (my husband and I) submitted a game to one of the game licensing companies. In the middle of March. I sent it via USPS with delivery confirmation that shows it arrived at the correct address. We haven't heard a thing from the company. As newbies, we don't want to be a pain if this is a normal time frame. But last week I checked with the post office because my husband is getting antsy. The money order I sent with the submission hasn't been cashed either. We've called, got no response. Emailed, same result. We're pretty patient and understand it can be a complicated process, but we have our next game ready to submit somewhere. Is this normal? The busy season? Any advice? WWYD? I hope someone has something to suggest. Thanks!
Re: How Long Should You Wait For a Company To Respond?
by BrandyInOregon » Tue Jun 16, 2009 5:01 pm
- BrandyInOregon
- White Belt
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Well, that's pretty funny. Less than an hour after I posted my question, our game was returned with a nice rejection letter. How about that for a coincidence? I expected to have to tweak it again so I'm not too bummed out. Hope DH feels the same. Thanks.
Re: How Long Should You Wait For a Company To Respond?
by Roger Brown » Wed Jun 17, 2009 4:04 am
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Roger Brown - Black Belt
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- Location: USA
BrandyinOregon, could you explain the statement
You mentioned sending your idea to a game licensing company. Was this a toy broker or invention submission company? Then you mention you got a rejection letter. Did they return your check or has that been cashed since you last checked? The reason I am asking these questions is there are so many different types of companies out there. I don't understand their lack of response when you said:
The money order I sent with the submission hasn't been cashed either.
You mentioned sending your idea to a game licensing company. Was this a toy broker or invention submission company? Then you mention you got a rejection letter. Did they return your check or has that been cashed since you last checked? The reason I am asking these questions is there are so many different types of companies out there. I don't understand their lack of response when you said:
We've called, got no response. Emailed, same result.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.
Re: How Long Should You Wait For a Company To Respond?
by minnesotainventor » Fri Jun 19, 2009 9:42 am
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minnesotainventor - Blue Belt
- Posts: 291
- Joined: Tue Jul 10, 2007 5:53 pm
The best advice you will get....NEVER, NEVER, NEVER WAIT FOR A COMPANY TO RESPOND!!!!
The one who waits loses (either case). period.
Unless they are giving you money to hold on making a decision with them, the world is waiting for you! Go out and reach the companies you need to reach and get in front of them the best you can. The biggest mistake is waiting for someone to respond. I remember talking to someone that reviews products concepts for a major company and stated one of their biggest selling products was shown to 250 other companies prior to them. Don't wait! This has been one of my biggest mistakes that I have made over the years is a company expresses interest and you feel you need to give them time to review it and you want to work with them. Hogwash (can't believe I used that word), but appropriate. Go after the brass ring and keep pursuing it and don't look back. You are confident in your idea/concept, then protect it and show the world/keep it in front of the right people for the answer you want.
Don't give up! And please don't wait for responses!!!!
The one who waits loses (either case). period.
Unless they are giving you money to hold on making a decision with them, the world is waiting for you! Go out and reach the companies you need to reach and get in front of them the best you can. The biggest mistake is waiting for someone to respond. I remember talking to someone that reviews products concepts for a major company and stated one of their biggest selling products was shown to 250 other companies prior to them. Don't wait! This has been one of my biggest mistakes that I have made over the years is a company expresses interest and you feel you need to give them time to review it and you want to work with them. Hogwash (can't believe I used that word), but appropriate. Go after the brass ring and keep pursuing it and don't look back. You are confident in your idea/concept, then protect it and show the world/keep it in front of the right people for the answer you want.
Don't give up! And please don't wait for responses!!!!
Re: How Long Should You Wait For a Company To Respond?
by Scrupulous » Tue Jun 23, 2009 9:18 am
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Scrupulous - Black Belt
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This is a good one for the FAQ section...
If no one has any objections, I will move this over there.
If no one has any objections, I will move this over there.
FAQ: How Long Should You Wait for a Company to Respond?
by Scrupulous » Tue Jun 23, 2009 9:35 am
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Scrupulous - Black Belt
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[Topic Relocated]
Re: FAQ: How Long Should You Wait for a Company to Respond?
by Roger Brown » Tue Jun 23, 2009 12:33 pm
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Roger Brown - Black Belt
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- Joined: Mon Oct 30, 2006 2:53 pm
- Location: USA
minnesotainventor, you stated:
I agree if a company says we need more time to decide and it is more than a couple of days they need to put down some cash for this priviledge. That said, you can't take the approach with a company and say "You have 7 days to make up your mind or I move on to the next company" when they just got your package and think they will give you a favorable review. As I stated above you need to find out the companies review process and decide if that works for you. You also have the option of doing multiple submissions to different companies at the same time and see who bites and makes the best offer. The only drawback to that is if the company is interested and you pull it from them for another company they wil be less willing to spend time reviewing your future submissions for fear you will pull it from them again. This can end up limiting your choices for submissions in the future.
You can call companies and ask what their review process is upfront prior to submitting and then decide which ones to put on your priority list to hit first and then work your way down the list to the one that holds it the longest.
You have to learn to work within the system each company has and to be flexible. I am not saying be a pushover and never question anything. I am saying look at it from your end and theirs and decide if you can live with it or need to move on to something else. Taking the "My way or the highway!" approach will leave you with more No's than Yes's.
The best advice you will get....NEVER, NEVER, NEVER WAIT FOR A COMPANY TO RESPOND!!!! The one who waits loses (either case). period.
I agree if a company says we need more time to decide and it is more than a couple of days they need to put down some cash for this priviledge. That said, you can't take the approach with a company and say "You have 7 days to make up your mind or I move on to the next company" when they just got your package and think they will give you a favorable review. As I stated above you need to find out the companies review process and decide if that works for you. You also have the option of doing multiple submissions to different companies at the same time and see who bites and makes the best offer. The only drawback to that is if the company is interested and you pull it from them for another company they wil be less willing to spend time reviewing your future submissions for fear you will pull it from them again. This can end up limiting your choices for submissions in the future.
You can call companies and ask what their review process is upfront prior to submitting and then decide which ones to put on your priority list to hit first and then work your way down the list to the one that holds it the longest.
You have to learn to work within the system each company has and to be flexible. I am not saying be a pushover and never question anything. I am saying look at it from your end and theirs and decide if you can live with it or need to move on to something else. Taking the "My way or the highway!" approach will leave you with more No's than Yes's.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.
Re: FAQ: How Long Should You Wait for a Company to Respond?
by BrandyInOregon » Tue Aug 04, 2009 9:21 pm
- BrandyInOregon
- White Belt
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- Joined: Tue Jun 16, 2009 4:16 pm
Hi Roger,
Sorry for the delay, I'm new to this site and the whole invention process. In regards to your reply, looking back now I think my hubby and I made a big mistake. We didn't have any idea how long the submission process should take. Trying to be patient, we let 3 months go by without an answer because we didn't know better. We did contact the company after the 2nd month but didn't get a reply. It was a legit (I think) toy and game licensing company, not an invention submission company. We sent them a money order for less than 200 dollars with the game... not really a big deal. And I sent it our package via USPS w/delivery confirmation. So I knew that the package got there a few days after it was sent. After we were getting fed up with the delay, I took the money order receipt to my local post office, and my friend there ran a check and said it hadn't been cashed. So we were truly unsure why we had no reply. But the very same day I posted my question here, I had the rejection letter in my hands with the returned game. Nice letter but no reason given for the delay. I'm probably not sending them another submission, at least not for awhile, but he gave us a couple of suggestions. We'll re-work that one after the current one is submitted. The next company we plan to deal with spells out the entire submission process very clearly on their website. And submission #2 is going out tomorrow. Hope this one goes better! And I'm going to spend more time here in the forum learning how to do this stuff better.
Sorry for the delay, I'm new to this site and the whole invention process. In regards to your reply, looking back now I think my hubby and I made a big mistake. We didn't have any idea how long the submission process should take. Trying to be patient, we let 3 months go by without an answer because we didn't know better. We did contact the company after the 2nd month but didn't get a reply. It was a legit (I think) toy and game licensing company, not an invention submission company. We sent them a money order for less than 200 dollars with the game... not really a big deal. And I sent it our package via USPS w/delivery confirmation. So I knew that the package got there a few days after it was sent. After we were getting fed up with the delay, I took the money order receipt to my local post office, and my friend there ran a check and said it hadn't been cashed. So we were truly unsure why we had no reply. But the very same day I posted my question here, I had the rejection letter in my hands with the returned game. Nice letter but no reason given for the delay. I'm probably not sending them another submission, at least not for awhile, but he gave us a couple of suggestions. We'll re-work that one after the current one is submitted. The next company we plan to deal with spells out the entire submission process very clearly on their website. And submission #2 is going out tomorrow. Hope this one goes better! And I'm going to spend more time here in the forum learning how to do this stuff better.
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