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

[AllenCrawley]

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

 

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[AllenCrawley]

We have a date for the upcoming webinar...

February 3, 2015

Stay tuned. I will post webinar details tomorrow morning.

 

[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.

 

[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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[AllenCrawley]

UPDATE
UPDATE
UPDATE

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 HERE. Then attend the Q&A
session on February 3rd to ask any any question you may have about
licensing your ideas for royalties.

[The OP has also been updated with this information]

 

[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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[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.

 

[AllenCrawley]

Register for the Upcoming Q&A Call Scheduled for February 3rd:

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

[OP updated]

 

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[AllenCrawley]

Today's the day!

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

 

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[Vigilante]

Stephen Key is a must listen to interview. Having spoken with him personally, he's inspiring. He's the kind of guy you would want to sit by a fire and listen to for hours.

He approaches licensing from the opposite end of the spectrum than we do. We take someone's existing IP and license it for use on consumer products. Stephen takes one simple idea, patents it, and sells it (or rents it) to companies for licensing income.

I would also highly recommend you pick up his book One Simple Idea, or his book One Simple Idea for Entrepreneurs.

 

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[AllenCrawley]

BUMP!

Within the next few days I hope to have this call scheduled for sometime in early to mid January.

If you haven't watched the video above take some time to do so and be sure to take notes and prepare some great questions for the upcoming call.

 

[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]

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

 

[DaisyH]

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).

More details about the upcoming Q&A call will be forthcoming. We will update this thread once we've nailed down the exact date and time.

Until then Stephen and Andrew would like to share a pre-recorded webinar and invite everyone to watch as it will provide a greater understanding of what they teach and it will better prepare you for the Q&A call.

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

@MJ DeMarco @Vigilante

Stephen Key is the real deal. If anyone hasn't read his book, One Simple Idea, I highly recommend it. He lays out a logical approach to people who have an idea for a new product/invention into do-able, actionable steps to monetize it through licensing. Licensing is a billion dollar a year worldwide business and a viable alternative for those who have ideas but not the interest or wherewithal to venture them.

I have learned a lot through the Inventright website and Stephen & Andrew even provide a list of companies on there that are open to outside innovations, i.e. possible licensees.

 

[Vigilante]

I didn't mention my thread, because you asked about "successful" - i'm not there yet ;-)

yet.

 

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[MJ DeMarco]

do we have any members on this forum who successfully license their ideas?

I've sold 8 licenses and collect royalties...

 

[Vigilante]

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.

 

[TedM]

I searched for "licensing" about 20 minutes ago and found your thread Starting with Patents and Licensing.

I didn't mention my thread, because you asked about "successful" - i'm not there yet ;-)

 

[Vigilante]

Plus, we licensed a celebrity's IP, put it on a product, and then sold the license agreement to another entity to operate.

 

[AllenCrawley]

Register for the Upcoming Q&A Call Scheduled for February 3rd:

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

[OP updated]

BUMP. Less than 2 weeks away. Be sure to add this date and time to your preferred calendar and register at the link above

 

[GuestUser113]

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

@Vigilante

 

[Iwokeup]

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

 

[TedM]

do we have any members on this forum who successfully license their ideas?

Have you read Vigilante's thread? https://www.thefastlaneforum.com/community/threads/the-licensing-game.39983/

There are more people here than you may know working in this direction. Do a search for "licensing".

 

[Marc B.]

So, what have y'all thought of the video? Any feedback?

The video was eye-opening. I never considered licensing as a viable solution for my ideas. As a result, they have accumulated on a list, constrained by my free time (however scarce), lack of capital, or some other excuse.

Simply put: It no longer feels wasteful to brainstorm when it doesn't have to do with my current business. Instead, it's another road to wealth that can be easily managed. Case-in-point, I liked when Stephen and Andrew spoke about creating a prototype without having the physical product. If you can create a mock-up using software, that's often enough. It doesn't get much easier than that.

Again, thank you for sharing; I'm anxiously looking forward to the call!

 

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[Bosstradamus]

Definitely interested in this

 

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[timmy]

Yes that webinar is of great interest to me .....thanks

 

[KingLionel17]

Thanks @AllenCrawley , @TedM & anyone else who was involved in getting this conference call set up! The webinar that was linked was very insightful and full of some great information and key points that can help newcomers like me in the Licensing game.

Can't wait for the call!

 

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[Semmy]

There are more helpful videos at:
https://www.youtube.com/user/InventRightTV/videos
and there is actually a sample class that I am watching right now
after I finished this post here that goes on for over 80 minutes at
their site: http://www.inventright.com/32-most-common-problems-sample-class

 

[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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