Stephen Key | Why look for a job when you can create one? (Episode #279)

Stephen Key teaches inventors how to license their ideas to companies instead of trying to manufacture and market their ideas themselves. Oh, and he banks.

“Why look for a job when you can create one?” -Stephen Key

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Think you have to get on Shark Tank or drop hundreds of thousands of dollars to bring a great idea to life? Not so says our guest for episode 279.

Stephen Key joins us on The Art of Charm to talk about why the old way of patenting ideas no longer works (and why it never really did), and how you can capitalize on the virtually untapped network of great ideas and great products just waiting to be brought to market.

More About This Show

Stephen Key is The Guy when it comes to turning ideas into licensable products that generate thousands (if not millions) in passive income. He holds 13 patents and has licensed over 20 products in the last 30 years…some of which are still earning him money today.

And the best part? He’s done all of this without investing hundreds of thousands of dollars on prototypes, patents, etc. He’s found a simpler, easier way: licensing.

Stephen looks for opportunities in every industry; he either comes up with or finds great ideas and tweaks them a bit, before turning them around and selling them to interested companies.

The finer details of this show include:

  • Why it’s not in a company’s best interests to steal your ideas.
  • How to beat “the big guys”.
  • What’s a sell sheet and why does it matter?
  • What are magic words that will open doors for you at any company?
  • How to get a company interested in your product – without ever selling.
  • And so much more!

On this show, Stephen walks us through the ins and outs of licensing and shares real life examples of why it works so well. For example,  he tells the story of how he came up with one idea in about 10 minutes and made $100,000 the first year he sold it. But it doesn’t stop there, that one idea went on to make him money for the next 10 years!

Stephen also shares a few tools he uses to amp up his creativity to come up with more ideas for marketable products.

But what if you don’t have an idea you want to license? Stephen has a solution for that too: he tells us how to find people who DO have ideas and how to partner up, so you both profit. This is a tactic he’s used successfully over the years, and you can too.

There’s so much valuable information in this episode, you’ll want to listen a few times with your Evernote or pen & paper in hand!

Reach out to Stephen (see below) and let him know how you’re going to stop overthinking things and take action to get into the game of licensing!

Resources From This Episode

Stephen’s web site

Stephen on Twitter

Ben Greenfield’s podcast

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-The Art of Charm Toolbox

-Best of The Art of Charm Podcast

Jordan Harbinger - author of 842 posts on The Art of Charm

Jordan Harbinger has spent several years abroad in Europe and the developing world, including South America, Eastern Europe, and the Middle East, and speaks several languages. He has also worked for various governments and NGOs overseas, traveled through war zones, and been kidnapped -- twice. He’ll tell you the only reason he’s still alive and kicking is because of his ability to talk his way into (and out of) just about any type of situation. Here at The Art of Charm, Jordan shares that experience, and the system borne as a result, with students and clients.