[UPDATE] One Simple Idea's Stephen Key Webinar & Upcoming Call

[Semmy]

We also interviewed him here :

http://www.twincitiesnewstalk.com/m...ss/mind-your-business-3-stephen-key-25538287/

and you could add that to your pre-call review materials.

Wow, I actually just learned that I indeed used the trademark correctly so far in the past in that call. Yes I am listening to it now and after that the sample class of Stephen Key afterwards, but its going towards 2am so I have to focus

 

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[GUTTA BOB]

Signed up thanks for having this.

 

[GuestUser113]

Here is one of his prototypes and finished product. Pretty damn cool. Can't wait for tomorrow.

@Vigilante

 

[AllenCrawley]

Today's the day!

https://attendee.gotowebinar.com/register/5698370007891780353

 

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[GUTTA BOB]

Here is one of his prototypes and finished product. Pretty damn cool. Can't wait for tomorrow.

@Vigilante

Mind=blown at the first video. So simple yet genius. I'm excited for today.

 

[Semmy]

I went ahead and bought Stephen Keys new ebook "Getting In!" http://www.inventright.com/getting-in

So this helpful ebook is like a mini-coaching for under $20 - it is your handbook how to get your first calls going to companies and introducing yourself the right way. Very helpful and another step toward getting live coaching if you want. With this you have no excuse not getting started - even if you do not have an idea yet!

 

[MJ DeMarco]

So simple yet genius. I'm excited for today.

Yea, pretty cool. Definitely gets your creative juices going... a right-brainer's dream! One hour till start time!

 

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[AllenCrawley]

CALL IS LIVE!!!

 

[GuestUser113]

I don't have sound.

 

[AllenCrawley]

I don't have sound.

All working good on my end.

 

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[MJ DeMarco]

All good here.

 

[GUTTA BOB]

All good here.

14 traits of a successful inventor/product developer... good stuff.

 

[RazorCut]

Great webinar. Lots of useful info. Didn't know about the Tim Ferriss connection.

 

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[Semmy]

great webinar thanks for taking the time and sharing your insights!

 

[FionaS]

Stephen & Andrew:

Absolutely fantastic call. Great info and I loved the little presentation at the beginning.

Thank you so much for your time (and I know what Youtube videos I'll be watching in my free time for a while), and Fastlaners - great questions. Thanks to you too.

 

[Semmy]

Great webinar. Lots of useful info. Didn't know about the Tim Ferriss connection.

Stephen Keys Book "One Simple Idea" starts with Tim Ferris

 

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[Bosstradamus]

here's my question that wasn't answered:
Q: is buying a trade association directory recommended in order to find associations and contract manufacturers?

PS
Thank you Ted

 

[AllenCrawley]

Thank you @StephenKey and Andrew! I learned a few new things I didn't know before.

 

[Mrs. BRKb]

Thank you @StephenKey and Andrew! I learned a few new things I didn't know before.

And thanks @TedM and @AllenCrawley for paving the way!

 

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[Aktion]

I had an unanswered question(s) that I'll drop here.

What if I don't know the best/most efficient way to design/engineer my product idea? Is is appropriate to send a sales sheet to a company showing the design and purpose of the product, but relying on their staff to figure out how it would be done or to improve on it? (Assuming the company even likes the idea).

Thank you to all who made this webinar possible. It was fun listening in and I personally learned a lot.

 

[randomnumber314]

Minnesota snow kept me on the road for the first 13.5 slides...Is there a recording of the webinar?

 

[miked_d]

Thanks @Stephen Key and Andrew for taking the time do this. It was great to hear you talk on this subject.

@AllenCrawley & @TedM - Thanks for setting this up.

 

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[FionaS]

Minnesota snow kept me on the road for the first 13.5 slides...Is there a recording of the webinar?

14 Traits
1. Don't fall in love with your ideas. They aren't your kids - you need to come up with a bunch of them, and be able to let go of them if they aren't going to work.
2. Test your ideas. Seek proof of demand ASAP (sell sheet, make it with computer gfx on elance and send it out to potential people). Test the market's interest in the idea before wasting your time.
3. Keep your ideas to yourself. The only person that matters is the person you're showing the idea to - they are the ones creating it.
4. Know how to use intellectual property to protect ideas - copyrights, trademarks, patents - just a lawyer isn't enough. You need to know it yourself.
5. Don't file patents right away - go with provisional patents. Save a bunch of money if the idea doesn't get rented,and lasts a year. $65 compared to $1000s.
6. Stick to one industry - create relationships, become an expert in that industry.
7. Attend the right trade shows/seminars.www.entrepreneur.com/article/234181 Just walk it - get to meet everyone and see everyone's booth. Good way to get info about other products and let them know about you
8. Outsource. Find the guys that can make you look good - let the ones that do graphics for a living make your graphics. Hire professionals and talent when you can.
9. Know it's up to you. It's your idea, you are your own strongest advocate.
10. Have a sense of urgency. It's a long process - you need to start as soon as possible. So easy to get comfortable and lazy. You need to get momentum.
11. Be persistent. You'll get rejected hundreds of times. Ask questions to figure out what went wrong and try again.
12. Don't let emotions betray you. It's business - not personal. Be calm, keep emotions in check.
13. Don't be afraid to fail.
14. Always be learning. Read books, blogs, mentors, coaches, etc.

They will be posting a recording as well at some point.

 

[Iwokeup]

This was a GREAT webinar! Thanks to @AllenCrawley and @TedM for making it happen.

 

[GuestUser113]

Found this while reading Stephen Key interview by Tim Ferriss.

http://fourhourworkweek.com/2007/11...ur-ideas-to-fortune-500-companies-plus-video/
http://fourhourworkweek.com/2007/11...00-companies-part-ii-plus-hacking-japan-tips/

 

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[StephenKey]

here's my question that wasn't answered:
Q: is buying a trade association directory recommended in order to find associations and contract manufacturers?

PS
Thank you Ted

Hi. I've been able to find that information out without having to pay for a directory. (I believe in most cases you would have to become a member to access that sort of information.) However, if you are thinking about attending a trade show, I highly recommend that you call the trade association and ask to see a list of the exhibitors. That's basically the directory, anyway. Does that answer your question? If not, let me know.

 

[StephenKey]

I had an unanswered question(s) that I'll drop here.

What if I don't know the best/most efficient way to design/engineer my product idea? Is is appropriate to send a sales sheet to a company showing the design and purpose of the product, but relying on their staff to figure out how it would be done or to improve on it? (Assuming the company even likes the idea).

Thank you to all who made this webinar possible. It was fun listening in and I personally learned a lot.

This is a great question. If you want to license an idea, you will need to understand how it could possibly be manufactured. Learning about manufacturing is so important! You will be able to prevent a lot of further problems down the road if you do. However, in terms of timing, it’s a balancing act. Why would you spend a lot of time studying up on how to manufacture a specific product before you know if there is even any interest in the idea? When I submit a sell sheet to a potential licensee, I stick strictly to the benefit of my idea—not how it works, not how it will be made. Later on, if a company shows interest in the idea, I’ll ask them to sign an NDA. Then we will discuss manufacturing. At that point, you will need to be knowledgeable. Because what you discover about manufacturing you should also include in your PPA. Good ways of learning about manufacturing processes include watching YouTube videos, hiring an engineer to help you (make sure that person signs an NDA and a work-for-hire agreement), and going for a tour in a manufacturing facility. Never plan on relying on the company to figure it out for you. In other words, if you ask them to figure it out, they will own the idea.

 

[StephenKey]

Minnesota snow kept me on the road for the first 13.5 slides...Is there a recording of the webinar?

Hi! Yes there is. Here is the recording:

 

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[Semmy]

For everyone who does not know about this "hidden" bonus seminar:
http://www.inventright.com/32-most-common-problems-sample-class

 

[StephenKey]

UPDATE #2
UPDATE #2
UPDATE #2

Learn how to license your ideas for royalties and get big companies working for you!

Successful Inventor Stephen Key and inventRight Co-Founder Andrew Krauss
will be doing an hour of Q&A just for Fastlane members on...

Tuesday, February 3rd.

• 3pm Pacific Time
• 4pm Mountain Time
• 5pm Central Time
• 6pm Eastern Time

Watch their full one hour video on the fastlane below Then attend the Q&A
session on February 3rd to ask any any question you may have about
licensing your ideas for royalties.

Please register at the link below:
https://attendee.gotowebinar.com/register/5698370007891780353

Watch the video above, take notes and prepare your questions for the upcoming call!

==================================================

We are fortunate to have Stephen Key (@StephenKey) host an upcoming Q&A conference call for our Fastlane Forum community!

Many thanks goes out to @TedM for helping get this all set up. Thanks Ted!

Stephen Key is the author of One Simple Idea: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work.

He has successfully licensed more than 20 simple ideas that have generated billions of dollars of revenue. His “10 Steps to Bring Your Idea to Market” course, which can be found at www.inventright.com, has attracted more than 10,000 students around the world.

Turn your one simple idea into millions—without lifting a finger!
“Ever heard of Teddy Ruxpin or Lazer Tag? Both have Stephen Key’s mark on them. He is the Yoda or ‘renting’ ideas for serious passive income. From how-to to war stories, this is a great book.”
—Tim Ferriss, author of The 4-Hour Workweek

“Mr. Key’s brilliance, wisdom, and insight will make you rich. Buy this book!”
—Mark Victor Hansen, bestselling author and co-creator of the Chicken Soup for the Soul® series

“Stephen Key turns conventional inventing ‘wisdom’ on its head and clearly outlines how anyone can earn a meaningful income with One Simple Idea.”
—Tamara Monosoff, founder of Mom Invented® and author of The Mom Inventors Handbook andYour Million Dollar Dream

The developer of such lucrative products as Michael Jordan’s WallBall®, the Spinformation® rotating label, and HotPicks® guitar picks, he knows better than anyone how to make a great living as an entrepreneur. Key develops ideas for new products, licenses them out, collects royalty checks, and doesn’t look back. You can do it, too. All you need is One Simple Idea.

Stephen Key is a successful award-winning inventor and entrepreneur. A holder of over thirteen patents, Stephen's products have sold in Wal-Mart, 7 Eleven, Disney Stores and theme parks worldwide and have been endorsed by basketball great Michael Jordan and Jeopardy host Alex Trebek. Stephen's innovative Spinformation rotating label has been licensed for use on many products including a product called Accudial. Accudial shows parents how to dose their child's liquid medication by weight versus traditional age, making it more accurate. Stephen is also a member of the Board of Directors of Accudial Pharmaceuticals. Accudial is the recipient of the Product of the Year Award for Canada as well as a finalist in the 2011 Edison Awards.

Recognized as an outstanding leader in the field of innovation, Stephen has appeared on national television numerous times, including an appearance on the CNBC show "The Big Idea with Donny Deutsch" and as an expert guest on "Dr. Phil". Stephen has been interviewed by national magazines, newspapers, and authors such as Tim Ferris ("The 4-Hour Work Week") and Donny Deutsch ("The Big Idea"). Stephen was also a consultant on the first season of the hit ABC reality TV show "American Inventor", created by Simon Cowell. Stephen was a keynote speaker at the US Patent & Trademark Office 14th Annual Independent Inventor Conference in November 2009.

Along with business partner Andrew Krauss, Stephen co-founded inventRight, a company dedicated to educating inventors, entrepreneurs, or anyone with an idea the necessary steps to build wealth through licensing. Stephen is also the licensing and inventing expert at AllBusiness.com (A Dun & Bradstreet Company).

@MJ DeMarco @Vigilante

Hey guys! I really enjoyed the forum. What a smart, insight group.

Please check out the recording if you like:

We have other videos on YouTube that may be helpful to you as well: https://www.youtube.com/user/InventRightTV

Best, Stephen