
He Made $100,000 From a Simple Product Idea (Without Manufacturing or Selling It) (Part 2/2)
30.09.2026
0:00
29:43
#1103 What happens after a company says YES to your product idea — and how much money could you actually make? In Part 2 of this two-part episode, Brien Gearin continues his conversation with Stephen Key, co-founder of InventRight, to break down the process of turning a promising product idea into a profitable licensing deal. Stephen reveals what to expect during meetings with potential licensing partners, how to negotiate royalty rates and protect your intellectual property, and why minimum sales guarantees are essential when signing a licensing agreement. He also shares real-world success stories, the biggest mistakes inventors should avoid, and why patience and persistence are key to building a successful product licensing business. Plus, discover which industries offer exciting opportunities for inventors and how you can start earning royalties without quitting your day job or investing a fortune in manufacturing!
What we discuss with Stephen:
+ Pitching your idea to companies
+ Negotiating royalty rates
+ Protecting your intellectual property
+ Understanding licensing agreements
+ Setting minimum sales guarantees
+ Estimating manufacturing costs
+ Avoiding common licensing mistakes
+ Real-world product licensing success stories
+ Profitable industries for inventors
+ Earning royalties as a side hustle
Thank you, Stephen!
Check out Part 1 of this episode.
Check out InventRight at InventRight.com.
Purchase a copy of One Simple Idea.
Follow Stephen on YouTube.
Watch the video podcast of this episode!
Get your FREE 5 Minute Business Plan at MillionaireUniversity.com/Plan
To get exclusive offers mentioned in this episode and to support the show, visit MillionaireUniversity.com/Sponsors
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