If someone asked you what the benefit of your product is, could you give him or her the answer in a single sentence? I’ve discovered how important it is to have a powerful and succinct “one-line benefit statement” in situation after situation. A great one-line benefit statement will generate interest in your invention, ultimately encouraging people you approach, be it potential licensees or journalists, to want to know more. Here are just a few examples of why you should begin creating your statement now.
When you call a potential licensee to introduce yourself and your product, you will have a very small window of opportunity to convince him or her to talk to you further. Wasting an employee’s time with a long-winded, unclear explanation will not get you in the door. That’s why your one-line benefit statement should be short and very easy to understand. You don’t need to describe what your product is or how it works. You need to explain the problem your product solves. Essentially, why would someone buy your product? I use my one-line benefit statement on my sales sheets for the same reasons. I won’t send a potential licensee a prototype until we’ve established a relationship; the sales sheet conveys the essential information I need to generate interest.
If you want your idea to receive some press, a one-line benefit statement is also very useful. It’s always a good idea to have people writing and talking about your idea. But why should they care? Television and radio and print are constantly inundated with “news-worthy” stories. Your one-line statement could make the critical difference. For example, you could use the statement as the subject of an email or the focus of a voice-mail. When people don’t have a lot of time to analyze if an idea is worth pursuing, you want to make it as easy as possible for them to see why they should!
You will probably need to tailor your one-line statement to each specific situation. The exact same sentence may not work in every case! But the fundamental benefit of your product and how you convey that benefit should. It’s a powerful tool.
And please, don’t be afraid to test it out at a couple cocktail parties, if someone happens to ask you, “So what is it you’re working on again?”
Stephen Key is a successful award-winning inventor who has licensed
over 20 products in the past 30 years. Along with business partner
Andrew Krauss, Stephen runs inventRight,
a company dedicated to educating inventors about selling their ideas
and the skills needed to succeed. You can listen to the weekly radio
show on inventing. Get In The News, list your invention to have media
outlets find you for news stories.