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Starting my journey on licensing product ideas

hectormendez

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Read Millionaire Fastlane
Oct 23, 2018
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I will start this thread to describe my journey licensing products ideas to companies.
I have 12 products ideas and more coming to my mind on a regular basis, 3 are on prototype stage, others are just ideas with no market research yet.
I will focus on one single product at a time, will use Stephen's Key book "One simple idea" as my guide during this process. My goal is that some members can learn from my personal experience doing this and maybe some one who has done this before can also share his personal experience, I will keep posting anything relevant that happens.
 

hectormendez

New Contributor
Read Millionaire Fastlane
Oct 23, 2018
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Good luck! Are you going to take the Steven's course too? I've never done it yet and am accumulating ideas.
Thank you. I wont take Stephen's course, Im sure its a good investment but I cant afford it.
 

hectormendez

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Read Millionaire Fastlane
Oct 23, 2018
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Ok. So far I have done my research to determine if there is market for my product idea and that it doesn't exist yet. There are other products that do the same but work in a different way.

Now I'm working on the prototype, wich is very simple so will be done in a couple of days.
 

hectormendez

New Contributor
Read Millionaire Fastlane
Oct 23, 2018
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32
Prototyoe is ready, I had one already but came with an improvement so made another one.
Now I will start working on my marketing materials, a one minute video and a one page sell sheet, this are the tools that will do the selling for me.

With regards to the prototype I made it myself, no need to spend a lot of money unless your product is high tech or you cant do it yourself and have to hire someone else to do it.
 

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