In response to a “jobless recovery,” millions of Americans are getting in touch with their inner entrepreneur, choosing to create their own luck. Too often, the path to business success for individuals is scattered with obstacles: the need for funding and the challenges of building supply, manufacturing, and distribution chains, just to name a few. However, thanks to such trends as “open innovation,” in which companies outsource new product development and other key functions, it is easier than ever for innovators to bring their ideas to market.
Few people today understand this better than Stephen Key, who has successfully licensed products in the toy, beverage, and pharmaceutical industries, among others, that have generated billions of dollars in revenue worldwide. In One Simple Idea: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work (McGraw-Hill Professional; March2011; HC, $22.00), Key provides a step-by-step guide on how anyone can invert the relationship between corporations and individuals by getting them to work for you. Central to Key’s blueprint for aspiring inventors and entrepreneurs is for them to use their creativity to produce income by “renting” their ideas to interested businesses. Taking readers through all phases of product innovation and development, Key explains the entrepreneurial system he has used to generatewealth without fronting and raising capital or becoming involved in time-consuming product development tasks.
Key’s mission is to foster the spirit and practice of invention while educating, empowering, and inspiring independent and professional innovators. One Simple Idea’s unique, user-friendly handbook to patenting and licensing advances this goal by explaining to readers how to:
- Be your own boss without formally opening a business or quitting your day job
- Protect your idea without spending time and money on a patent
- Develop a strategy that fits perfectly into your business plan
- Present your invention to companies and negotiating the best deal
- Select appropriate manufacturers and finding optimal markets with expansive opportunities
- Witness your product go to market without footing a dime in expenses.
Anyone who has ever daydreamed of an outrageous new product or brainstormed a sure-fireway to improve a service that already exists has the innovation gene. In One Simple Idea, Key delivers the direction, know-how, and motivation to help you present and profit from your idea(s)!
Stephen Key is a successful award-winning inventor and entrepreneur, having licensed over 20 products in the past 30 years. 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 Gold winner at the 2011 Edison Awards. One of Stephen’s other products, Soyu Natural Teas also took a Bronze at 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).
Stephen has a new book from McGraw-Hill titled “One Simple Idea” is available in book stores nation wide as well as online through Amazon and Barnes & Noble. In this new book Stephen will inspire readers to license (rent) their ideas to Fortune 500 companies using his simple 10-step system.
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