Your videos are priceless Stephen...Thank you for sharing your precious time with us. I actually ventured out in 2014 with a partner and a team and wow! 360k later to start (on a .08cents/product) I was finally in 400 retail drug stores with 40 Intl. distributors and still always needed $$ to keep getting to the next level. To make a long story short, I worked my #$&@$ out and ended up burned out and very sick in 2018 that turned into physical paralysis (5 spinal surgeries) from the stress and pressure on my back although I was doing pretty well, I will never (never say never BUT) venture out again, especially at 59. I've been in the same industry for 40 years which helps for sure but no one is Immune to such pressure... I am now on the verge of completing my PPA on a new winner that I will definitely license this time around. Thank you!!! ;-)
Thank you for sharing your personal story with others. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
HIS IS SO INFORMATION IS SO VALUABLE. WHEN I WAS YOUNG I GAVE THE CONCEPT OF AN AUTOMATIC FOOT MASSAGER TO A MEDICAL SUPPLY COMPANY FOR THE SAKE OF HELPING PEOPLE PREVENT PVD THAT LEAD TO AMPUTATION IN DIABETICS. THE COMPANY MARKETED IT AS LUXURY MASSAGER SO AS TO NOT HAVE TO GO THROUGH FDA. I WAS NOT EDUCATED ENOUGHTO GET A PATENT. JUST WANTED TO HELP PEOPLE . THE REST IS HISTORY FOR THE BILLION DOLLAR COMPANY NOW.
If I am not getting traction talking to companies, can I have an influencer in my industry make a video featuring my idea? Basically attraction marketing instead of cold calling. What do you think?
InventRight seems very licensing oriented. Is it still a good choice if I wanted to go the venture route? Do you have coaches who are trained on manufacturing, importing, Amazon FBA, etc?
Hi @BigBoogie, You are correct. We focus exclusively on licensing. There are lots of good coaching on venturing i'm sure if that's the direction you want to go. If you ever want to do licensing, we are your guys. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@@inventRight thank you for your honest reply. You still have a lifetime viewer with me. The amount I have learned since finding your channel has probably saved me so much time and money. Thanks!
Serious question. Why would a company pay you royalties with a licensing deal if you show them your prototype, they like it, and it’s not protected in any way? Why wouldn’t they just take your idea and run with it?
It’s called open innovation. Companies opening their door looking for new ideas. Not everyone is out to steal your ideas,keep watching the videos. Please note, some companies do not have an internal R&D department so they must have ideas from the outside .
That's really common. Of course i don't know the specifics, but it can make lot's of sense depending on the product. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@@danaknowlesinspires I've been thinking about doing the monthly school. The 30 dollar a month one is all I could afford currently. I think it's time and a good way to start the year.
This book might be helpful. Thank you Dana! www.amazon.com/Licensing-Ideas-Using-LinkedIn-companies/dp/B08JNX3MDL/ref=mp_s_a_1_3?crid=3BUIVIYOFD1AT&keywords=stephen+key&qid=1703454588&s=books&sprefix=stephen+key%2Caps%2C162&sr=1-3
If your in driving distance, do you think it's a good idea to go to the companies without an appointment to talk to the people you need to show the sell sheet. When they are not responding to my emails, I think they are going straight to spam.
After watching the video Mr Keys where you and Mr Pourtney were discussing the differences between licensing adventuring and watching Andrews video with that lady and her coach who invented the knotless boot laces and the money energy and time it takes to venture going at it alone can wear you down mentally and physically & financially.
Yes you can. Book a call with us here. inventright.com/contact/ - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
Thanks for watching. Keep Inventing! - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
Thank you Stephen ! Stress is a killer!!! I would certainly advise licensing, health and wellbeing first! life's too short and precious! 60hrs? wow 🙌🫂💞🌌✨
💯 I have a habit of designing new products that need to adapt yearly for fitment to new models released by manufacturers and the hours doing R&D never ends!
Great comment Donna. Licensing isn't' without it's stresses, however it's nothing compared to starting your own company. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
Your videos are priceless Stephen...Thank you for sharing your precious time with us. I actually ventured out in 2014 with a partner and a team and wow! 360k later to start (on a .08cents/product) I was finally in 400 retail drug stores with 40 Intl. distributors and still always needed $$ to keep getting to the next level. To make a long story short, I worked my #$&@$ out and ended up burned out and very sick in 2018 that turned into physical paralysis (5 spinal surgeries) from the stress and pressure on my back although I was doing pretty well, I will never (never say never BUT) venture out again, especially at 59. I've been in the same industry for 40 years which helps for sure but no one is Immune to such pressure... I am now on the verge of completing my PPA on a new winner that I will definitely license this time around. Thank you!!! ;-)
Thank you for sharing your personal story with others. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
Thank you so much for sharing!
-Stephen
HIS IS SO INFORMATION IS SO VALUABLE. WHEN I WAS YOUNG I GAVE THE CONCEPT OF AN AUTOMATIC FOOT MASSAGER TO A MEDICAL SUPPLY COMPANY FOR THE SAKE OF HELPING PEOPLE PREVENT PVD THAT LEAD TO AMPUTATION IN DIABETICS. THE COMPANY MARKETED IT AS LUXURY MASSAGER SO AS TO NOT HAVE TO GO THROUGH FDA. I WAS NOT EDUCATED ENOUGHTO GET A PATENT. JUST WANTED TO HELP PEOPLE . THE REST IS HISTORY FOR THE BILLION DOLLAR COMPANY NOW.
If I am not getting traction talking to companies, can I have an influencer in my industry make a video featuring my idea? Basically attraction marketing instead of cold calling. What do you think?
If you’re not getting traction, you’re doing something wrong.
InventRight seems very licensing oriented. Is it still a good choice if I wanted to go the venture route? Do you have coaches who are trained on manufacturing, importing, Amazon FBA, etc?
Hi @BigBoogie, You are correct. We focus exclusively on licensing. There are lots of good coaching on venturing i'm sure if that's the direction you want to go. If you ever want to do licensing, we are your guys. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@@inventRight thank you for your honest reply. You still have a lifetime viewer with me. The amount I have learned since finding your channel has probably saved me so much time and money. Thanks!
Serious question. Why would a company pay you royalties with a licensing deal if you show them your prototype, they like it, and it’s not protected in any way? Why wouldn’t they just take your idea and run with it?
It’s called open innovation. Companies opening their door looking for new ideas.
Not everyone is out to steal your ideas,keep watching the videos.
Please note, some companies do not have an internal R&D department so they must have ideas from the outside .
@@inventRight Appreciate your reply and your videos. I will continue to watch them.
Wonderful thank you!
How do I go about it if i have an idea for a product that is already out there but just another version to add the the product line.
That's really common. Of course i don't know the specifics, but it can make lot's of sense depending on the product. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
I don't know why but I get so worried that this isn't something that I can do. I want to but feel so unsure. But I guess it's worth a try lol
It's a lot easier to license when you have an experienced advisor to guide you every step of the way. That's what inventRight is all about
@@danaknowlesinspires I've been thinking about doing the monthly school. The 30 dollar a month one is all I could afford currently. I think it's time and a good way to start the year.
How do i use linkin to find a company to license to? can you explain it to me? or help me
Stephen and Benjamin wrote a really good book. Licensing using LinkedIn. This might be a good start.
This book might be helpful. Thank you Dana!
www.amazon.com/Licensing-Ideas-Using-LinkedIn-companies/dp/B08JNX3MDL/ref=mp_s_a_1_3?crid=3BUIVIYOFD1AT&keywords=stephen+key&qid=1703454588&s=books&sprefix=stephen+key%2Caps%2C162&sr=1-3
If your in driving distance, do you think it's a good idea to go to the companies without an appointment to talk to the people you need to show the sell sheet. When they are not responding to my emails, I think they are going straight to spam.
Of course.
@@inventRight Thanks
Do you get an idea first and then design it and licensing it. What if they don't like your idea after putting in alot of work
Only work on ideas you’re passionate about.
After watching the video Mr Keys where you and Mr Pourtney were discussing the differences between licensing adventuring and watching Andrews video with that lady and her coach who invented the knotless boot laces and the money energy and time it takes to venture going at it alone can wear you down mentally and physically & financially.
@@steventeter3332 thank you for commenting and watching! Do you have a question?
@@inventRight No not for you. I was just questioning myself and the path I want to travel. Licensing or Venturing. At my age the path is clear.
@@steventeter3332 thank you.
Could I go through inventrite to help get a licensing deal
Yes you can. Book a call with us here. inventright.com/contact/ - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
😧
Thanks for watching. Keep Inventing! - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
Thank you Stephen ! Stress is a killer!!!
I would certainly advise licensing, health and wellbeing first! life's too short and precious! 60hrs? wow 🙌🫂💞🌌✨
💯 I have a habit of designing new products that need to adapt yearly for fitment to new models released by manufacturers and the hours doing R&D never ends!
Great comment Donna. Licensing isn't' without it's stresses, however it's nothing compared to starting your own company. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )