One Simple Idea: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work

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Overview

Turn your one simple idea into millions—without lifting a finger!

“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 has written a book overflowing with the all-important information that inventors need: a step-by-step guide through everything that goes into a successful product introduction.”

—Gary Dahl, Pet Rock® inventor

“A terrific guide for anyone who wants to be a successful entrepreneur.”

—John Osher, innovation guru who created SpinBrush®, Stretch Armstrong®, Spin Pop®, and Quattro® Titanium Trimmer Razor

“Tired of working for corporate America? Tired of living paycheck to paycheck?

One Simple Idea can teach you how to add a few zeros to your income. Buy this book and live your dreams now!”

—Kevin Harrington, infomercial king and featured investor on

Mark Burnett’s Shark Tank

“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 and Your Million Dollar Dream

“Whether you are a creator or a connector, this book will help you turn your ideas into a fulfilling, profitable career. Read it and WIN!”

—Patrick Lonergan, former vice president and general manager, Johnson & Johnson, and president/partner of NUMARK Laboratories, Inc.

About the Book:

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 again.

Stephen Key has been living this dream for 30 years. 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.

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 R&D, production, marketing, sales, accounting, distribution, and everything else you don’t want to do.

You’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 job

The 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 a $500 billion industry. Businesses need “freelancers” like Key—and you—to provide creative, marketable ideas for new offerings.

With 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.

Stephen Key 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.

Product Details

  • ISBN-13: 9780071756150
  • Publisher: McGraw-Hill Companies, The
  • Publication date: 2/22/2011
  • Edition number: 1
  • Pages: 256
  • Sales rank: 98,097
  • Product dimensions: 6.10 (w) x 9.10 (h) x 1.10 (d)

Meet the Author

Stephen Key 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.

Table of Contents

Preface: The Ferriss Effect vii

Acknowledgments xi

Introduction: How One Simple Idea Led to the Life of My Dreams xiii

Part 1 The Power of One Simple Idea 1

1 How You Can Create the Life of Your Dreams 3

2 The Beauty-and Opportunity-of Open Innovation 17

3 CEO or CIO-Which Hat Fits You Best? 27

Part 2 Find Your Million-Dollar Idea 35

4 Look for Marketable Ideas 37

5 Get Creative! 47

6 Not Creative? Be a Product Scout 55

7 How to Pick Winners 69

Part 3 Prove Your Idea 81

8 Will It Sell? 83

9 Is It Doable? 91

10 To Prototype or Not to Prototype 99

Part 4 Protect Your Idea 111

11 The Smart Way to Safeguard Your Idea 113

12 Control Every Step of the Process 131

Part 5 Prepare to Pitch Your Idea 137

13 Create Sales Tools That Sell Benefits 139

14 Get in the Game Without Quitting Your Job 149

Part 6 Submit Your Idea to Potential Licensees 157

15 Kick Fear to the Curb 159

16 Find the Right Doors to Knock On 171

17 The Call That Gets You in the Door 179

Part 7 Bring Your Ideas to Market 195

18 Cut a Great Deal 197

19 Living the Dream 211

Appendix: Valuable Resources 225

Index 231

Customer Reviews

Average Rating 5
( 24 )

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See All Sort by: Showing 1 – 20 of 24 Customer Reviews
  • Posted November 19, 2011

    The book (and author) are my inspiration...

    What a great and useful book. This book is an inspiration to any entrepreneur, inventor or anybody who wants to become one. The author, Mr. Stephen Key, uses his vast experience in the field to coach how to initiate creativity and gain confidence in inventing, developing, protecting and licensing of new ideas and products. He provides so many productive tools and approches to make the idea fruitful. I found this book so useful and enjoyed reading it while working on my new ideas and patents.

    Was this review helpful? Yes  No   Report this review
  • Posted October 12, 2011

    Really enlightening book

    Nice to read about a subject from someone who has really done licensing.

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  • Posted June 23, 2011

    Simple & easy guide to fullfilling your dreams!!!!

    I just finished talking to Stephen on the phone. He is personable and so eager to help you find your way through this maze of trying to get your product to market as easy as possible. Your not just getting the very best book and guide on the market to help you, you are also getting a very intelligent, caring man to stand with you through the process. Good luck my new friend!!!!

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  • Posted June 23, 2011

    A Must Read for any aspiring inventor

    Thank you Stephen for writing this book! I've had a bunch of ideas for consumer products over the years but could never figure out how to profit from them. I heard about licensing a few years back but couldn't seem to get my idea in front of the right people in the right format. I've read a bunch of other books about inventing but couldn't seem to make any progress. One Simple Idea lays out a simple, cheap, effective 10-step process to evaluate your idea and present it for licensing quickly and easily. If it flies, great! If not, put that idea aside and start on the next one; none the worse for wear and a bit wiser! I'm about to start presenting the first of my ideas and can't wait to see the results. Awesome book!

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  • Posted June 21, 2011

    This book HAS to be your next purchase!

    Stephen Key is so generous with his knowledge. If you have ideas, but always wondered what to do with those, this book is the answer. Easy to read, to the reach of everybody, 10 simple steps to be successful at licensing your idea.

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  • Posted May 24, 2011

    I couldn't put it down... success is just around the corner for me!

    Thank you Stephen for providing a most helpful guide. Well written and edited. Has REAL information for taking action. This book will save you BIG $$$. A must read for inventors wanting to patent and bring a product to market.

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  • Posted May 3, 2011

    more from this reviewer

    This is a must read for anyone thinking of turning an idea into a reality!!

    I have lived and learned... As a matter of fact, I have a masters degree in the "school of hard knocks"! About ten years ago, my wife and I came up with an idea. Being young and energetic, went ran with it, made a prototype, packaging, a mold, made product, and spent $150,000 and lost a whole lot of stomach lining. I can safely say, that if I would have read Stephen Key's, One Simple Idea, first... I would probably be retired and basking on a beach somewhere right now! We did everything wrong... well, actually that's not true. We did come up with an idea and we had the guts to go forward. I only wish I had the clear concise roadmap that Stephen provides. For 10 years I was bitter and upset, and then something inside of me was telling me to go to the book store and look, and without being to dramatic, that blazing yellow covered book screamed my name as I walked by. I will have to tell you, I could not put it down. My creative juices started flowing and I found that my true passion is in being a product developer. Stephen quickly and seamlessly guides you thru the 10 steps to getting your product licensed. He is a realist though, he tells you it's not easy, but with guidance and direction he helps you decide before your in deep, is this a winner and is it worth pursuing. I have only started my new journey, but with a well defined roadmap to success, I'm sure to succeed! Thank you Stephen!

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  • Posted April 13, 2011

    I can do this! I feel like I have been EMPOWERED!!!!!

    This is a great resource for anyone with an idea for an invention. Not just the book, but the free resources that Stephen tells you about in the book - especially information on his own website. It's like a regular guy speaking from his own experience. It answers the "how do I . . . ." questions.

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  • Posted April 1, 2011

    This book should be on every inventors bookshelf!

    I don't believe there's anything left out! A complete guide without any missing steps.

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  • Anonymous

    Posted March 27, 2011

    A must have - highly recommended

    This information in this book is incredible. Simple, clear and concise.

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  • Posted March 23, 2011

    This concept can work for anyone!

    I am a product developer myself and had NO idea about what a terrifically viable option licensing was until I found Stephen Key.

    Stephen has been a wonderful resource to new product designers for many years now, always ready to offer advice, support & encouragement both personally and through his Inventright program.

    This new book is one of those books that as read it, you can't wait to turn the page, yet you don't want it to end. My book is already fully underlined and flagged throughout.

    The beauty of this book is that he sset out a very logical, achievable course of action for anyone who is serious about moving their new creations forward.

    I went down the other path and developed both a new product and a new manufacturing process, all the while having to learn about marketing, selling, managing inventory, employees, and on and on. The process has been worthwhile but how much simpler it would have been to just license the idea right from the start! In fact, I'm now a convert to this method and am in the middle of creating another product which I will immediately find a licensee for.

    Congratulations Stephen on an excellent job with this book! One can tell that you know what you're talking about, as the real life examples are compelling. You offer us ways to get over our own mental obstacles about "going up against the big guys", all the while encouraging others to reach for their dreams.

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  • Posted March 21, 2011

    When God saw what Stephen Key had written he said, "This is good!"

    Stephen Key is the Obi-Wan Kenobi of product developers. Key is not only an accomplished inventor his is also an excellent teacher of his craft. In One Simple Idea he explains how to take a product idea and turn it into a licensed agreement with a manufacturer. At Last! A book that shows us what to do with all those "Million Dollar Ideas" we keep coming up with.

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  • Posted March 17, 2011

    Excellent! Highly recommended!

    This is an incredibly insightful step-by-step guide filled with practical knowledge for anyone interested in making money with their ideas. A must read!

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