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EXECUTION Should you license a product?

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kpoa

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I finally decided to take a chance on myself and bring an idea to life. I threw it on kickstarter and we hit our goal. I got the suggestion to go the licensing route with the product. It has crossed my mind, but I don't know much about it.

I just got the book "ONE SIMPLE IDEA" by Stephen Key and looking forward to learning from it.

I am new to this, and realize a lot of growth will come from taking action and probably failing a few times. I don't mean that in a negative way, just being realistic. Starting from ground zero and just going for it.

Anyone here have any experience from licensing a product?

Would love to hear any experiences, (good or bad) or any advice/tips.
 

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Vigilante

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I finally decided to take a chance on myself and bring an idea to life. I threw it on kickstarter and we hit our goal. I got the suggestion to go the licensing route with the product. It has crossed my mind, but I don't know much about it.

I just got the book "ONE SIMPLE IDEA" by Stephen Key and looking forward to learning from it.

I am new to this, and realize a lot of growth will come from taking action and probably failing a few times. I don't mean that in a negative way, just being realistic. Starting from ground zero and just going for it.

Anyone here have any experience from licensing a product?

Would love to hear any experiences, (good or bad) or any advice/tips.
So Stephen Key licenses products to companies, and then collects "mail box money" or a royalty. His book One Simple Idea is really the reference standard on that whole business model. If you want to go that route, I would suggest you consider going beyond the book and becoming a student of the academy/organization he has. They provide you mentorship. It comes at a cost, but the cost can produce a lucrative license deal. He has many, many success stories. He is actually a member here, although it has been quite a while since he has visited.

In my business, we license brand names to put on our products, essentially creating an "overnight brand."

I assume maybe you are talking more about the Stephen Key model?
 

kpoa

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So Stephen Key licenses products to companies, and then collects "mail box money" or a royalty. His book One Simple Idea is really the reference standard on that whole business model. If you want to go that route, I would suggest you consider going beyond the book and becoming a student of the academy/organization he has. They provide you mentorship. It comes at a cost, but the cost can produce a lucrative license deal. He has many, many success stories. He is actually a member here, although it has been quite a while since he has visited.

In my business, we license brand names to put on our products, essentially creating an "overnight brand."

I assume maybe you are talking more about the Stephen Key model?
Yes the Stephen key model would probably be a better fit. Your business sounds awesome btw.
I plan to read ONE SIMPLE IDEA over the weekend and check out the course.
 

kpoa

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@Vigilante big time. I am a proud board member of a new venture of his where he got a massive license deal.
That's awesome! Do you mind sharing what he licensed and with who? How long the process took?

very interested in hearing more of the story.
 

Rearden

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I can help if you are interested. I have coached over 170 inventors to successfully license products. I was the head coach at Stephen Key's program for 5 years.
Let me know if you have any questions I would love to help
 

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That's awesome! Do you mind sharing what he licensed and with who? How long the process took?

very interested in hearing more of the story.
I'll tell the story here eventually.
 

kpoa

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I can help if you are interested. I have coached over 170 inventors to successfully license products. I was the head coach at Stephen Key's program for 5 years.
Let me know if you have any questions I would love to help
Would love that!
 

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