One Simple Idea: Turn Your Dreams Into a Licensing

One Simple Idea: Turn Your Dreams Into a Licensing This is certainly a book worth reading but perhaps is not everything that you thought it would be when you first read the title.The author certainly demonstrates how you can turn ideas into products that you license to others but he seems to gloss a little over the fact that there is still plenty of research and hard work that you ll need to do to convert There is no doubt that he has been able to achieve this and that anyone else could and some of his experiences and suggestions in the book wi This is certainly a book worth reading but perhaps is not everything that you thought it would be when you first read the title.The author certainly demonstrates how you can turn ideas into products that you license to others but he seems to gloss a little over the fact that there is still plenty of research and hard work that you ll need to do to convert There is no doubt that he has been able to achieve this and that anyone else could and some of his experiences and suggestions in the book will certainly save you time and money However, success isthan just one simple idea.All it does take is one idea but you may have to go through hundreds of other ideas before you ultimately find the one that results in a pay day The book seems a little light on the fact that it may prove to be a long and frustrating experience until you find that idea but none the less it is full of helpful hints and suggestions on making the conceptlikely.In many ways the book is an eye opening account of how all you need is a single good idea and the ability to take that to market Too many people seem to think they need to own the idea from inception to manufacture The books shows you methods by which you can turn ideas into success in a much shorter time frame that if you were to attempt to own the whole process.The book is easy to read and well worth a look at for those interested innovators Just don t forget you are still going to need plenty of luck and elbow grease Long story short, this book is for skimming, not for reading I can say I learned from this book, but the author repeats himself so much it is painful Great intentions and great knowledge, but the book could have easily been 50 pages. I was surprised at how helpful this book was Normally, books that make grandiose promises e.g get rich by following three simple steps are a complete waste of time This book wasn t.Stephen Key is an entrepreneur who discovered how to market his ideas Instead of developing new products and manufacturing them, he simply licensed his ideas to manufacturers When they used his ideas to make products, he collected royalties In many respects this is exactly what writers do when they sell the I was surprised at how helpful this book was Normally, books that make grandiose promises e.g get rich by following three simple steps are a complete waste of time This book wasn t.Stephen Key is an entrepreneur who discovered how to market his ideas Instead of developing new products and manufacturing them, he simply licensed his ideas to manufacturers When they used his ideas to make products, he collected royalties In many respects this is exactly what writers do when they sell their books to publishing houses Because Key has marketed so many of his ideas, he has the process down to an art from how to cold call prospective buyers renters, actually , to how to go through the licensing process But most useful of all to people like me, who don t have a lot of product ideas, Key lays out the most important principle of marketing The most marketable ideas are those that solve problems, address needs, or satisfy desires, he says And he s right.Once you have an idea that falls into those criteria writers, take note , Kay tells you what to do with it Before you approach a buyer, find someone who has done it before, pick their brains, and then study your market Knowing who your market is, and how to reach them, is the key no pun intended.Having made the mistake of not knowing how to reach my market on several occasions, I can attest to the value of Key s advice If you are thinking of selling anything, read this book first You may not get rich in a day, but at least you will understand the basics of marketing Comment Permalink This book is definitely making it into my library It s full of so much information about licensing that it s going to be my go to reference for any licensing projects going forward The advice might be a little too general to give you SPECIFIC advice for your industry but it does give you all the tools necessary to know WHERE to find the contacts you need and how to search for the right kind of information.It s a bit of a heavy read It sof a book packed full of information Stephen Key i This book is definitely making it into my library It s full of so much information about licensing that it s going to be my go to reference for any licensing projects going forward The advice might be a little too general to give you SPECIFIC advice for your industry but it does give you all the tools necessary to know WHERE to find the contacts you need and how to search for the right kind of information.It s a bit of a heavy read It sof a book packed full of information Stephen Key is a guy that is actually doing this and making a living off of it so it s like getting advice from a trusted mentor Pure gold Here are his 4 Characteristics of a good idea 1 Does it solve a common problem 2 Does it have a WOW factor 3 Does it have a large market 4 Does it use common production methods and materials He goes over the important details like identifying if your idea will work first before investing too much time and money.He explains prototyping and different options to manufacture your prototype something really important for inventors to know There is information on how to safeguard your idea by NDAs and patents and explains your rights with intellectual property The book is packed full of contacts in the industry and explains how to sell your idea and cut a great deal So it takes your idea from beginning to end and walks you through the entire process For as long as you can remember, you ve had a dream You ve longed to see your product idea come to fruition so you never have to work for anyone else againStephen Key has been living this dream foryears The developer of such lucrative products as Michael Jordan s WallBall r , the Spinformation r rotating label, and HotPicks r 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 In this book, Key reveals the secrets that helped him and thousands of his students including bestselling author Tim Ferriss turn their creativity into a passive income generator by renting an idea to a company, which takes care of RD, production, marketing, sales, accounting, distribution, and everything else you don t want to doYou ll be amazed at how simple the process of licensing an idea for profit actually is Key explains how to Keep your ideas safe without spending time and money on a patent Be your own boss without formally opening a business See your product go to market without footing a dime in expenses Make potentially big money without quitting your day jobThe age old business assumption that ideas must come from within organizations has been shattered From global corporations to small businesses, companies have become so confident in outside entrepreneurs that licensing is now abillion industry Businesses need freelancers like Key and you to provide creative, marketable ideas for new offeringsWith One Simple Idea, there s no prototyping, no patents, and, best of all, no risk You can make the system work for you rather than the other way around I started this book with high hopes as the first few chapters get you hooked and leave you wantingOnly to have finished the book and felt a little let down on the actual insight Licensing is a unique way to get paid for your idea without having to risk it all I love the idea of solving problems and helping others, so I was drawn to the text Only to be let down with the depth of the subject matter While this book is great for giving you an overview of the industry, I feel there s a I started this book with high hopes as the first few chapters get you hooked and leave you wantingOnly to have finished the book and felt a little let down on the actual insight Licensing is a unique way to get paid for your idea without having to risk it all I love the idea of solving problems and helping others, so I was drawn to the text Only to be let down with the depth of the subject matter While this book is great for giving you an overview of the industry, I feel there s a tonto learn to successfully bring an idea to market This was blatantly apparent multiple times when the author plugged his own training and coaching services Is it a good book, kind of This book was published before the America Invents Act became law, so some of the details regarding patents are out of date, but the information on licensing is extremely accessible for entrepreneurs and inventors I m not quite ready to stop using that word, inventors, as Mr Key suggests, but I think this is a valuable read for the creatives looking to commercialize ideas. The book is, in many ways, just like the title one simple idea that is diced and sliced into many different versions of the self same one simple idea Despite being interesting, it just did not really hit the highest mark, yet maybe it wasn t meant to The book takes a look at transforming ideas into marketable, actionable and income generating propositions, primarily through licensing them to others who do all the hard work hopefully Whilst the book won t help you put your thinking cap on, it The book is, in many ways, just like the title one simple idea that is diced and sliced into many different versions of the self same one simple idea Despite being interesting, it just did not really hit the highest mark, yet maybe it wasn t meant to The book takes a look at transforming ideas into marketable, actionable and income generating propositions, primarily through licensing them to others who do all the hard work hopefully Whilst the book won t help you put your thinking cap on, it will take you through many processes such as development, negotiation and sales, boosted by many real life stories featuring those who have had some success with this sort of thing The author himself claims personal success in this area, apparently licensing over 20 different simple ideas that have generated billions of dollars of revenue for the licensors.It was an interesting read, harmless at least or reasonably inspirational at best Some of the positivity possibly got lost through cultural translation yet it was by no means a bad book It has the capability of being a usable tool in your toolbox, but it probably won t be the multi tool you solely rely on Eh this book was interesting and offered a very simple method for potentially getting your ideas to market.But while the author keeps mentioning the thousands of ideas he s had and the 20 he s been successful with, he seems determined to keep rehashing the same two a Michael Jordan backboard and a spinning label system I would have loved to learnabout what didn t work, why, and so on I was also particularly sensitive to the fact that this book, above almost all else, was a blatant p Eh this book was interesting and offered a very simple method for potentially getting your ideas to market.But while the author keeps mentioning the thousands of ideas he s had and the 20 he s been successful with, he seems determined to keep rehashing the same two a Michael Jordan backboard and a spinning label system I would have loved to learnabout what didn t work, why, and so on I was also particularly sensitive to the fact that this book, above almost all else, was a blatant pitch for his classes on how to license products which he does through IdeaPow.com, for a mere 30 a month.I am going to try the method he outlined to pitch a few ideas to companies for licensing If it s successful, I ll be the first to write a glowing review and promote his website and even sign up for it If it s not, I ll update here as well Great read, very useful amd informative.The book title is very honest Stephen Key is very knowledgeable about licensing and breaks it down to simple steps He doesn t use jargon and uses very simple examples to provide the reader with a thorough understanding of the point he is making He does waffle on a little bit and at times it feels like the book could be shorter and he is just trying to fill up the book If you are looking into how to license your ideas though this is the book you need to Great read, very useful amd informative.The book title is very honest Stephen Key is very knowledgeable about licensing and breaks it down to simple steps He doesn t use jargon and uses very simple examples to provide the reader with a thorough understanding of the point he is making He does waffle on a little bit and at times it feels like the book could be shorter and he is just trying to fill up the book If you are looking into how to license your ideas though this is the book you need to read

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