One simple idea pdf download

The more than 20 products he has licensed over the past 35 years have sold in Walmart, 7-Eleven, and Disney stores and theme parks worldwide, as well as been endorsed by Michael Jordan, Alex Trebek, and Taylor Swift. Along with business partner Andrew Krauss, Stephen co-founded inventRight, a company dedicated to teaching inventors, entrepreneurs, and anyone with an idea how to build wealth through licensing.

Key is the author of The Licensing Lifestyle, a weekly column for Inc. A little bio won't be bad but i don't have any.. Follow me on twitter lets talk. Share this:. Comment Cancel reply. One Simple Idea, Revised and Expanded Edition has been revised and updated to reflect current trends and practices in the industry.

In addition to teaching readers how to turn their ideas into marketable products that companies will want to license, Key expands upon his cutting-edge product development, sales, and negotiation strategies, making note of the new opportunities and technologies available to creative people today. I love this book! It teaches you some inexpensive ways to protect your product when sharing your idea to potential investors or distributors.

So I used the techniques I learned from this book to call some schools and to my surprise! I was able to not only get the schools president on the phone and speak with him but he gave me his personal contact information and is willing to help me along the way!!

It was so unexpected that my wife was in the background laughing at the shock on my face as it was happening. Stephen Key is an award-winning inventor, a renowned intellectual property strategist, a successful entrepreneur, and a best-selling author.

The more than 20 products he has licensed over the past 35 years have sold in Walmart, 7-Eleven, and Disney stores and theme parks worldwide, as well as been endorsed by Michael Jordan, Alex Trebek, and Taylor Swift. In the first part of the book, Stephen Key shows how a simple idea can give you the money, time, and freedom to live the life you always wanted.

In this section, Stephen Key shows that anyone can come up with an idea and profit from it. When you have an idea, and rent it out to companies, your only responsibility is to create, in the meantime, companies manufacture and market it. It is the opening that companies give to outsiders to present and sell their ideas.

According to the author, it is very important to learn to license your ideas. Few companies have the time and resources to develop their ideas because of the high cost of research and development. It is, therefore, easier to market a licensed product than to create one from scratch , all thanks to open innovation.

According to Stephen Key reviews, creating a new com pany - or adapting and expanding your existing company, developing , marketing and distributing the product, is the job of the CEO Chief Executive Officer. Regarding licensing, you are the innovation director of your idea, responsible for creating. Just look, you will see that there are great ideas everywhere, you just need to know how to make money from it.

According to the author, many ideas fail because their creators didn't think about which customers would buy their idea or where they would be used.

When you begin your creation process, you should not create a new market for your idea, but create an idea for an existing market. Being creative is seeing things with a new look. Creativity makes it possible to solve problems and cause change. According to Stephen Key, ideas come when you feed your brain with creativity, through movies, books, walks, observation and even making new friends. Bef ore you develop your idea and put it into the market, it is important that you make a research, analysis, and design work essential to make sure your idea is executable and marketable.

For the author, it is much more advantageous to create designs for the market, rather than designing his idea and then showing it to the market. As such, he has developed strategies to make sure your idea can be sold.

Ask yourself the following questions, and make sure you find the answers before you market your idea :. Is my idea stimulating? Who will buy the product? Why will people buy the product? Where will they buy the product? How much will you be willing to pay for it? As much as a company is interested in an ide a, and considering marketing it, it will only do so if its manufacture is affordable and has the resources to do so.

That's why companies are looking for ideas that they can :. Put quickly and easily on your production lines;. Distribute through existing channels;. Produce and sell at affordable costs. A simple patent may not guarantee such security. In this section, he explains how to do this. First, you need to look for information about patent law.

Filing for a patent is costly and time-consuming. Also, ideas change over time, your final idea may be quite different from the initial one. To this end, it is m ore advantageous to protect its creation through the provisional patent application.

This gives you greater control and flexibility in knowing when to file a patent application itself. Control your ideas. Follow each step of the production, do research and analyze the market. Learn how manufacturing and marketing are done. For the author, you should not let others take care of your idea, you should protect it and find the right and reliable people to work with. To protect your idea, you must:. Show your idea only to your pa tent attorney and people you trust ;.

Ask people who will examine your idea to sign a confidentiality agreement ;. Search for a licensee for your idea , rather than publicizing it so they can find you.