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EDUCATION 10 LESSONS FROM ONE SIMPLE IDEA, REVISED AND EXPANDED EDITION: TURN YOUR DREAMS INTO A LICENSING GOLDMINE WHILE LETTING OTHERS DO THE WORK BY STEPHEN KEY

10 lessons from One Simple Idea, Revised and Expanded Edition: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work by Stephen Key:

1. Anyone can have a successful licensing business. You don't need to be a genius or have a lot of money to get started. All you need is a good idea and the willingness to put in the work.

2. The best ideas are often the simplest ones. The most successful licensed products are often the ones that are simple, yet practical and useful.

3. The key to success is to find a product that solves a problem or fills a need. People are more likely to buy a product that they feel they can't live without.

4. It's important to do your research before you launch a licensing business. You need to understand the market and who your target customers are. You also need to develop a strong business plan.

5. Once you have a good idea and a business plan, it's time to start marketing your product to potential licensees. There are a number of ways to do this, such as attending trade shows, networking with industry professionals, and submitting your product to licensing agencies.

6. When negotiating a licensing deal, it's important to get everything in writing. This includes the terms of the deal, the royalty rate, and the length of the agreement.

7. Once you have a licensing deal in place, you can sit back and relax and let your licensees do all the work. They will be responsible for manufacturing, marketing, and selling your product.

8. Licensing can be a very lucrative business. Some people have made millions of dollars from licensing their ideas.

9. Licensing is a great way to build a passive income stream. Once your product is licensed, you will receive royalties on every sale.

10. Licensing is a creative and rewarding business. It's a great way to turn your ideas into products that people will love and use.

Key's book is a comprehensive guide to launching and managing a successful licensing business. He provides step-by-step instructions, real-world examples, and practical advice to help you achieve your goals. If you are interested in learning more about licensing and how to use it to turn your dreams into a reality, I highly recommend reading One Simple Idea, Revised and Expanded Edition: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work.


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