Hey everyone,
Ok I probably made the title too exciting for the post LOL but I just read the infamous One Simple Idea book. First, I'd like to note that I was actually a little surprised that companies wanting to use open innovation would make it so complicated for normal consumers (maybe I missed the part where it's aimed at more business oriented consumers). I don't see the average consumer paying $100 for a patent, finding out how to manufacture things, negotiating, calling companies numerous times, etc. The book IS a great how-to though and I don't doubt people's success from this.
Anyways to my point, this kinda has me a little confused. I constantly have ideas and this seems like the method for those people that maybe aren't ready to go all out. Stephen seems to have acquired truly passive income and multiple streams of it, also fairly quickly. I'm just wondering, why wasn't this option mentioned in The Millionaire Fastlane or suggested on the forum as a lifestyle for "everyone else"? That leads me to believe it doesn't fully support the fastlane method.
Here's what I've concluded:
Control:
-Something could happen with the company that's paying you (though he has multiple companies working)
-You can't control how your idea ends up being sold
-You can't control your income/expenses
-You can't make nearly as much money
Time:
-You constantly have to do the whole process again if you want more money (although after a while it would be enough streams)
-It seems to incorporate a tiny bit more "hope" than running your own business
Other than that, it fits need, scale, and entry at this point, unless businesses make it easier for everyone.
I'm assuming if you're already running a business, taking on licensing would result in a type of business polygamy. Because of this, I'm still going to stick with my business.
@MJ DeMarco I remember you mentioning in a thread a while ago that you bought the book because it seemed fastlane, but what did you actually think of it? Somehow after reading both books now, yours STILL resonates most with me, even though it requires a much more complicated process. I don't know what it is but it has a way of making me feel "capable." Maybe that's because it's NOT packed with all the technical how-tos.
By the way, thanks again for the great insider call!
Ok I probably made the title too exciting for the post LOL but I just read the infamous One Simple Idea book. First, I'd like to note that I was actually a little surprised that companies wanting to use open innovation would make it so complicated for normal consumers (maybe I missed the part where it's aimed at more business oriented consumers). I don't see the average consumer paying $100 for a patent, finding out how to manufacture things, negotiating, calling companies numerous times, etc. The book IS a great how-to though and I don't doubt people's success from this.
Anyways to my point, this kinda has me a little confused. I constantly have ideas and this seems like the method for those people that maybe aren't ready to go all out. Stephen seems to have acquired truly passive income and multiple streams of it, also fairly quickly. I'm just wondering, why wasn't this option mentioned in The Millionaire Fastlane or suggested on the forum as a lifestyle for "everyone else"? That leads me to believe it doesn't fully support the fastlane method.
Here's what I've concluded:
Control:
-Something could happen with the company that's paying you (though he has multiple companies working)
-You can't control how your idea ends up being sold
-You can't control your income/expenses
-You can't make nearly as much money
Time:
-You constantly have to do the whole process again if you want more money (although after a while it would be enough streams)
-It seems to incorporate a tiny bit more "hope" than running your own business
Other than that, it fits need, scale, and entry at this point, unless businesses make it easier for everyone.
I'm assuming if you're already running a business, taking on licensing would result in a type of business polygamy. Because of this, I'm still going to stick with my business.
@MJ DeMarco I remember you mentioning in a thread a while ago that you bought the book because it seemed fastlane, but what did you actually think of it? Somehow after reading both books now, yours STILL resonates most with me, even though it requires a much more complicated process. I don't know what it is but it has a way of making me feel "capable." Maybe that's because it's NOT packed with all the technical how-tos.
By the way, thanks again for the great insider call!
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