What is one good idea worth?
What if it means a whole new market segment could be added to your business?
Is it impossible to believe that someone from outside your business or industry could suggest a new product or new market?
Is it conceivable that your developmental processes could be improved?
Would a 10%-15% reduction in production costs or support services expense make a difference to your profitability?
Do you have some kind of other problem that is causing a drain on your cash flow?
Or, have you been looking for a new product to introduce to recharge you business and your sales staff?
What if you only paid for new IDEAS that you used?
The funny thing about pure creative ingenuity is that even though scientists and experts have been studying for years how to make people more creative they haven’t been very successful. Many “experts” sell methodologies and training in an attempt to formalize and structure the “process” of being creative. In the end you either are creative or you’re NOT.
Just being creative, of course, does not necessarily mean you are able to create new products or find new markets and outlets for your goods and services. Some people are quite creative when it comes to areas like Graphic Arts or Multi-Media…without having a shred of creative genius for marketing or new product development.
There is someone that does have that gift however. His name is David Meintrup and he is available for hire. If you like his suggestions and you employ his ideas, then he gets paid. If not, it costs you nothing but a little bit of your time.
Now if at any time, within the next ten years, you decide to implement any of his ideas; then you’ll owe him his standard fare. He works on a standard, flat-rate, contract basis of $100,000 per year. If you implement all of his ideas in one year you owe him for one year of consulting –unless you prefer to keep him engaged…thinking about your company’s issues on an ongoing basis. If you implement one of his ideas three years down the road and another one in year 5 then you owe him for 2 years of consulting ($200,000). Keep in mind that almost all of his ideas are aimed at either saving at least one million dollars per year from your bottom line costs…OR bringing in at least one million dollars in new revenues. So the cost to earnings benefit should be at least 10-1.
The process works like this:
- He interviews all the people within a company as well as other industry insiders and consultants in order to become familiar with the situations of the industry. Remember he has been doing this for 30+ years so he is familiar with lots of different industries and areas of business.
- He will then write up a detailed plan of action. A book of ideas and suggestions specifically tailored to the situation. The ideas contained within the report will be unique, outside the current plans and natural progressions of your existing of business model. One of the things that the interviews will reveal is what you are already thinking about doing in the future to grow and develop.
- The plan then gets discussed, and if any of the ideas show immediate promise, a brainstorming session is scheduled with key contacts within the company that might implement the particular idea(s). After that an implementation plan is worked out, resources are put to task and goals are set.
- The reason for the one year contract is that a considerable time investment is usually needed after an idea is deemed worthy to be explored. The ideas are the exclusive property of IDEAmation until such time as they are “selected” by the company to be implemented or pursued for future implementation. If the company doesn’t see the merit of one of the ideas and decides NOT to pursue it then Ideamation could choose to pursue this new product development or service offering on its own or in partnership with another individual or company. Then if the original company changes their mind, they can elect to pay the consulting contract fees and proceed, even though the idea development or product might not be exclusive or patentable by them at that time. If at that time the patent is held by someone else then royalties will have to be made as well as trademark considerations, etc.
An alternative to the flat-rate retainer program is the percentage based program. Depending on the type of idea and industry this percentage based fee might be more appealing. Generally speaking the percentages would range from 10 to 15% of the derived annual value…for one year (not necessarily the first year the program is implemented).
One of the things that made Thomas Edison such a prolific inventor was his ability to bring the right people together to work in his lab. David Meintrup works in exactly the same way even though his “LAB” is spread out all over the world through the advent of modern communications networks. He has, in place, a network of highly creative engineers, product designers, marketing gurus, technology wizards, scientists, and job-shop inventors. They are located all throughout the US, as well as in Germany, Russia, Romania, India, and Peru. And these are just the individuals he has worked with in the past. If he needs additional help he has an outstanding ability to pull together the right team of experts within a few days through his extensive list of contacts and resources that he’s established over the last 20 years.
The bottom line is that he’s an EXPERT at solving problems. Since he started doing this type of work in 1977 he has designed dozens and dozens of new products and come up with scores of new service offerings for his clients.
Almost all inventions and new product offerings start with a ‘problem worth solving’ and end with a workable, but outside the box solution. It is the marketing side of the business that many fail to recognize as the driving force behind success. If a product or service offering cannot be coupled with an equally creative Business Model, then the venture is doomed to fail.
It is a risk to move forward. But not as big a risk as staying right where you are at! Make the call; the upfront costs have been removed. Becoming a believer in this person’s unique talent takes only a little action…an invitation to see if he can help YOUR business.
Marketing Development Manager