Millionaire University

He Made $100,000 From a Simple Product Idea (Without Manufacturing or Selling It) (Part 1/2)

Millionaire University

Show Notes

#1102 What if you could turn a simple product idea into $100,000 without ever manufacturing or selling it yourself? In Part 1 of this two-part episode, Brien Gearin sits down with Stephen Key, co-founder of InventRight, to explore how everyday inventors can turn their ideas into income through product licensing. Stephen shares how a simple Michael Jordan basketball toy earned him $100,000 in royalties in its first year and explains how you can get companies to manufacture, market, and sell your products while you collect royalties! Discover how to identify potential licensing partners, pitch your ideas with a one-page sell sheet, protect your inventions, and find profitable opportunities by improving products that already exist. Plus, Stephen reveals why testing your ideas before investing time and money could be the key to turning your next big idea into a successful product!

What we discuss with Stephen:

+ Turning product ideas into royalties

+ Stephen’s $100,000 basketball toy

+ Finding the right licensing partners

+ Pitching ideas to companies

+ Creating a one-page sell sheet

+ Protecting your ideas with patents

+ Choosing profitable product niches

+ Improving existing products

+ Testing ideas before investing

+ Getting products onto store shelves

Thank you, Stephen!

Check out Part 2 of this episode.

Check out InventRight at InventRight.com.

Purchase a copy of One Simple Idea.

Follow Stephen on YouTube.

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