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Can someone explain to me the process of the "Spec" commercial?

I know the objective is to sell it (REally big objective). But how should you approach the company in which you're trying to sell it to?

And if you can't sell it, is it okay to simply stick it on your reel?
 
You're better off submitting a bogus company commercial for work with Young & Rubicon and other giant advertising corporations instead of having them squash you.
 
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What to do with Spec Spots

You can always put a spec spot on your reel. It should be for a real client. It's difficult to sell a spec spot to a large client like Nike or Coke, but you may be able to sell to a much smaller client who isn't currently advertising. Check out a whole bunch of additional resources for spec spots here: http://specbank.com/extras.php
 
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