idealstrategicpartners.com

4.3
4.3 Based on 13 reviews

Ideal Strategic Partners has a vested interest in its partners' success and utilizes a disciplined process backed by an experienced team of experts in a multitude of industries to build and launch manufactured products or software applications as the Entr...

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_Chocolatine_
Partnership? My review, and some advice

I would like to say I agree with what Nick stated.I originally wrote a review that was flagged for review by ISP. It simply verified that my experience was the same as Nick's, but I want to help prospective inventors, so I will just say my experience was the same and leave it at that; but also offer advice. Here we go.1. If a company claims they can save you 80% on services like the patent process, design and engineering, production, etc, make sure you verify this claim. If it is a significant claim, do your due diligence on this. An integrity company should be able to prove its position very easily on this claim.2. If a company claims to have significant expertise in analyzing the viability of the potential of your product in the marketplace worth millions of potential sales as well as that they will be instrumental in making that happen, ask for verified evidence they have done so in the past in any capacity, particularly if that company is asking for a large amount of money from you and a chunk of your company. If they have, they should be very happy to share this with you. 3. If a company wants to partner with you and tells you that you will be the ultimate decision-maker on everything, see if that means financially also. Obviously, you will be spending money to bring your product to market. If they are asking for substantial money that they say will go to services to bring your product to market, do you get to be involved in deciding who those parties are, and do you control the money (which is your money) to pay these parties? If not, then talk about that disconnect of you being the ultimate decision-maker if that is the case.4. When you get a product made and ready for market, if you were asked to put significant dollars up for this 'partnership,' ask specifically how much of that $$ will be allocated to marketing and what that marketing will consist of. For instance, paid ads are very different than simple SEO. It is extremely important to understand the details of this because marketing is absolutely crucial to the success of any product if you are going direct to market and not via distributors. Don't have any misunderstandings here.5. It is one thing to do business with a company offering specific services to help you bring something to market as far as consulting fees, where that all lines out well. It is very different for a company claiming to be your partner who wants a significant amount of money from you and a significant portion of your company! This is a very significant decision.I hope this general advice helps you. I wish it had been provided to me before I made my decision so I am simply trying to help people with guidance.Good luck!P.S. 9/17/24 I have been alerted by the review that was responded to. I hope the owner has updated how they do business for the benefit of future clients. I stand by my review and experience entirely and maybe it has done some good. Further, the owner suggests I am not a verified reviewer, which is interesting because all but one review here is not verified and the one with four reviews only has 4 reviews in a 30-day time span and then is no longer. I thought that was an interesting point for the owner to make when all the reviews seem exactly like mine, but the owner feels that makes them invalid. That logic is interesting. Again, good luck inventors!

2
Date of experience: Sep 01, 2023

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Business Details

  • Ideal Strategic Partners has a vested interest in its partners' success and utilizes a disciplined process backed by an experienced team of experts in a multitude of industries to build and launch manufactured products or software applications as the Entrepreneurs product Accelerator.

  • email info@idealstrategicpartners.com
  • call 17602055734
  • language http://idealstrategicpartners.com

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