Q: There is a company in the fitness equipment business that advertises on TV, and I’ve noticed a selling point they’re not using that I think could increase sales in a major way. Do you have any ideas as to how I can inform them and be paid for doing so?
A: There’s no surefire way to approach them and ensure that you’ll get credit (and payment). Obviously, you can tell them you have an idea that can improve the “value proposition” of their product (but not tell them what it is) and ask to get together to discuss it. Whether they’ll be interested is another issue. I suppose it depends a lot on how well the thing is selling already.
If they are interested, then figure out what you’d like to have them pay you for the idea. When you get in to see them, tell them what that figure is, and that you’d like to get that if they feel the idea is good. But, short of coming up with a legal document that protects your interests and prevents them from taking it and not paying you (which in and of itself could cost you far more than what you might be asking for the idea), you’ll have to trust that they’ll do the right thing. They can always say, we don’t like the idea, and not pay you, and then go ahead and use it anyway, and unless you’re covered legally, you’re out of luck.
There are no rules around how to go about this. I’d say your best bet might be to use the opportunity as a door-opener to get in to meet them and hope that more can come from it. Obviously, though, if you’re just starting out and don’t have a portfolio to show, it might be tough to convince them to hire you on any kind of an ongoing basis.