- Black Belt
- Posts: 1208
- Joined: Mon Oct 30, 2006 2:53 pm
- Location: USA
Rejection has to be the number one killer of most Inventors drive to see their product become reality. There are plenty of people with fantastic ideas that throw in the towel the first time they are told “No Thanks” by a company. The Inventor takes that “NO” as a direct personal assault.
Granted no one likes getting rejected, me included, but I realize it is a part of the process and one that you cannot avoid. You need to learn from the No’s and see what you can do to lessen the chance of getting your next No. If you were lucky enough to get some feedback from the company wait one day and review their comments. The one day will hopefully give you time to calm down from your disappointment and look at the comments clearly and objectively.
If you really consider the reasons you get rejected it isn’t always your idea. Yes, you need to understand that if you have a bad idea that is not marketable no amount of tweaking will change that outcome.
Here is a list of reasons your idea can be rejected even if it is a marketable idea.
1. Sometimes the company you have approached just doesn't look at outside ideas and does not publicize that fact. So you get a rejection letter, but it doesn't explain they just don't look outside the company.
2. You didn’t do your research and your product is outside their target market. You don’t send a pet toy to a tool company. This happens more often than you think.
3. You sent your submission to the wrong person within the company. You can’t assume the wrong person will forward your idea to the right person for you.
4. You sent the idea unsolicited and the company rejected it solely on that basis. You did not contact them first and see if they had any documentation that needed to be signed by both parties first, such as a nondisclosure agreement.
5. You did not have proper contact information on your submission.
6. They already have similar products and don’t want to add another that would be in direct competition with their current product.
7. Your idea is only good for a very small niche market.
8. The cost versus the return on investment is too high.
9. Your sell sheet did not WOW them or lacked concise information to get the point across.
10. Your product has already been patented.
11. They already sell a similar item and don't want a competing product beside one that is selling fine.
12. The product you sent them is inferior/outdated in features/benefits over what is currently available.
13. You sent them your product but they have already decided on their line for that year or the following year and are not open to taking on anything else at that time.
14. They only consider items with a sales history they can review and your item has never been in production or sold stores or online. So they do not want to take the risk of being the first company to market it.
These are just a few reasons. I am sure you can add more.