Launch Your Product with Stephen Key

Stephen Key
  • 0.0 (0)
  • Entrepreneurship
  • Weekly

Ready to turn your product idea into a reality? How To Launch A Product with renowned inventor, author, and entrepreneur Stephen Key offers practical insights, expert strategies, and inspiring stories to help you navigate the path from concept to market. Each episode, Stephen sits down with successful entrepreneurs, inventors, and industry insiders who reveal the secrets behind launching their products and building thriving businesses.

  1. 10h ago

    Launch Your Product: How a $5 Prototype Led to a 7-Year Licensing Deal

    How do you turn a simple invention into a product licensing deal? Jerald Gunter started with a *$5 prototype* designed to solve a problem he had encountered for years: Installing and replacing ceiling tiles in commercial buildings required expensive lifts, scaffolding, and extra labor. Today, Jerald’s invention is being used by *AMC Theatres nationwide,* and he has secured a *7-year licensing agreement with Grabber Construction Products* to manufacture and distribute his product. In this interview with inventRight cofounder Stephen Key, Jerald shares how he went from identifying a real-world problem and building an inexpensive prototype to patenting his invention, *approaching a company, and negotiating a product licensing agreement.* You’ll learn how Jerald tested his invention in the real world, what he showed the company to get its attention, why the licensing process took nearly a year after the initial contact, and why he ultimately chose *licensing instead of manufacturing and selling the product himself.* Jerald also explains how patent agent *Kevin Prince, founder of QuickPatents,* helped him protect his invention. Jerald has two design patents and a utility patent covering the center mechanism of the tool. Jerald says what he learned from Stephen Key’s bestselling book, *One Simple Idea,* helped him navigate the licensing process. *This video is sponsored by QuickPatents.* QuickPatents provides patent searching and patent application services for inventors and entrepreneurs. *Schedule a free consultation with patent agent Kevin Prince:* https://quickpatents.com/ *CHAPTERS* 0:00 How a $5 Prototype Led to a Licensing Deal 0:47 How Do You Know If Your Invention Solves a Real Problem? 1:20 Does an Invention Prototype Need to Be Expensive? 3:48 What Should You Show a Company You Want to License Your Product To? 4:15 How Long Does It Take to Get a Licensing Deal? 5:58 When Should You Get Help Protecting Your Invention? 6:52 Should You Worry About Companies Stealing Your Invention Idea? 10:55 Should You License Your Product or Manufacture It Yourself? 11:39 How Do You Learn How to License an Invention? | One Simple Idea For more than 27 years, inventRight has helped inventors and entrepreneurs bring products to market, primarily through licensing. Subscribe to inventRightTV for more *product licensing success stories* and practical advice about *how to license an invention, prototype a product, approach companies, protect an invention, and bring a new product to market.* ⭐ *inventRight Reviews:* https://inventright.com/success/ 🏆 *Products licensed with inventRight help:* https://inventright.com/products/ *DISCLAIMER* inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC., its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies. Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC. or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

    Launch Your Product: How a $5 Prototype Led to a 7-Year Licensing Deal

  2. 10h ago

    Launch Your Product: What Companies Actually Want to See From Inventors

    When you’re licensing a product, the order you do things matters. You don’t need to spend thousands of dollars building an entire business before you know whether companies are interested in your idea. Your first job is to communicate why your product matters, identify companies that are a strong fit, and give them enough information to want to learn more. In this video, inventRight cofounders Stephen Key and Andrew Krauss break down the right sequence for licensing a product — so you can test interest, learn from companies, and make smarter decisions about where to spend your money. You’ll learn: • How to communicate your product's benefit in one sentence • What you actually need on a sell sheet • When to spend money on prototypes and patents • How a provisional patent application can give you flexibility • How to identify companies that are a strong fit for your idea • Why persistent follow-up matters • How to learn from rejection without wasting more money Licensing is a process, and doing things out of sequence can cost you time and money. The goal is to spend wisely, learn quickly, and give yourself more opportunities to get your ideas in front of companies. Sign up here to get weekly reminders with the Zoom link so you never miss The Licensing Playbook LIVE: https://inventright.com/licensingplaybooklive Chapters: 0:00 Introduction to the Licensing Playbook 1:29 Tonight's Topic: What You Don't Need to License 2:08 What Companies Actually Need to See 3:40 The Cost of Bad Advice: A $25,000 Mistake 5:01 Patents: Timing Is Everything 6:00 Why Websites Don't Work for Licensing 10:01 The One-Page Sell Sheet vs. Website 12:30 Prototypes: When You Really Need Them 14:01 Virtual Prototypes and ChatGPT 19:38 The Power of a One-Sentence Benefit Statement 22:26 Do You Need a Patent to License? 28:32 Why 'No' Is Your Friend 30:08 Knowledge Is Your Competitive Advantage 36:14 Common Mistakes That Turn Off Companies 39:39 A Real Success Story: Getting a Deal 41:18 What Actually Gets Ideas Licensed 44:46 Patience, Persistence, and Being a Polite Pest 48:20 The Right Mindset for Success 50:05 It's a Numbers Game 51:00 Build Relationships, Not Just Transactions 52:13 Final Thoughts and Book Promotion ------------------------------------------------------------------------------ Ready to put the licensing process into action? LicenseThis gives you inventRight’s complete 10-step licensing system, plus training, scripts, sample sell sheets, licensing agreements, and more — so you can move your product toward a licensing deal at your own pace. → Try LicenseThis free for 7 days: https://inventright.com/services/license-this 🎥 Subscribe to inventRightTV for weekly videos on licensing, product development, entrepreneurship, patents, and bringing ideas to market. For over 27 years, inventRight has helped inventors license inventions. ⭐ inventRight Reviews: https://inventright.com/success/ 🏆 Products licensed with inventRight help: https://inventright.com/products/ → Contact inventRight: https://inventright.com/contact Disclaimer: inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC., its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies. Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC. or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

    Launch Your Product: What Companies Actually Want to See From Inventors

  3. 1d ago

    Launch Your Product: How He Keeps Licensing Products to Different Companies

    How do you go from licensing your first invention to licensing products with multiple companies? Robert has now *licensed four products to four different companies.* In this interview with inventRight cofounders Stephen Key and Andrew Krauss, he shares what changes once you’ve negotiated multiple licensing agreements, built relationships with companies, and learned how to keep bringing them new inventions for product licensing. Robert is a former inventRight member who has successfully licensed products in the HVAC industry. He shares several *licensed product examples* from his own portfolio and explains how he submits new inventions to companies he already has relationships with, negotiates stronger licensing terms, and decides which industries to pursue next. Years ago, he spent *$12,000 trying to bring an invention to market* and got nowhere. Learning how to license an invention gave him a completely different way to commercialize his ideas. Today, he’s working toward making licensing inventions his full-time career. You’ll also hear Robert discuss *royalties and licensing agreements,* why he asks companies to have “skin in the game,” how existing relationships can make it easier to submit additional invention ideas, and why he is considering selling intellectual property outright in one unusual situation. Check out the Jumper King on Amazon: https://a.co/d/06gvYQTh If you’re interested in *product licensing, licensing inventions, submitting invention ideas to companies, negotiating licensing agreements, or turning an invention into a product without building an entire business around it,* Robert’s experience offers a look at what the process can become after you’ve done it more than once. *CHAPTERS* 0:00 Product Licensing: How Robert Licensed Multiple Inventions 0:24 Can You Build a Career Licensing Inventions? 2:27 Licensed Product Examples: 4 Products on the Market 4:15 What Is It Like to Manage Multiple Licensing Agreements? 5:03 How Do You Submit More Invention Ideas to a Company? 6:05 Should You License Inventions in More Than One Industry? 7:56 How Robert Lost $12,000 Before Learning Product Licensing 9:18 What Can You Negotiate in a Product Licensing Agreement? 10:01 Why License Consumer Products to Retail Companies? 11:31 What Does It Feel Like to See Your Invention in Stores? 13:24 Getting Your Product in Front of Companies | inventRight Gateway 14:21 Product Licensing vs. Manufacturing: Should You Sell It Yourself? 15:06 How Do You Enter a New Product Industry? 17:22 How Do You Find Companies to License Your Invention To? 18:23 Why Relationships Matter When Licensing Products 19:01 How Many Product Industries Should You Pursue? 20:18 When Does It Make Sense to Sell Your Intellectual Property? 23:37 From inventRight Student to Licensing Multiple Inventions 25:41 How AI Can Help You Submit an Invention to a Company Faster For more than 27 years, inventRight has helped inventors and entrepreneurs bring products to market, primarily through licensing. If you have a product you want to license, inventRight Gateway helps prepare your product for licensing, identify the right companies, present it to decision-makers, and manage the follow-up. *Learn more about Gateway and submit your product:* https://inventright.com/gateway Subscribe to inventRightTV for more licensed product examples and practical advice about product licensing and licensing inventions. ⭐ *inventRight Reviews:* https://inventright.com/success/ 🏆 *Products licensed with inventRight help:* https://inventright.com/products/ inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC., its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies. Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC. or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites.

    Launch Your Product: How He Keeps Licensing Products to Different Companies

  4. 1d ago

    Launch Your Product: How AI Is Changing Product Development

    AI is changing how new products are developed. Knowing where it helps and where it falls short is important. In this interview, Stephen Key sits down with Guillaume Chéneau, founder of BSense, to discuss how AI is actually being used in product development and manufacturing today. AI can help you clarify an idea, develop better specifications, research technical questions, evaluate materials, conduct market research, communicate across teams, and keep complicated projects organized. But it still has limits! A beautiful AI-generated product design isn't necessarily manufacturable. Engineers still need to understand tooling, materials, assembly, prototypes, factories, and design for manufacturing (DFM). Guillaume explains why understanding that distinction can save product developers time and money — and why using more AI tools isn't always better. *This video is sponsored by BSense.* BSense helps inventors and companies develop and manufacture new products, with a team based in China that works directly with factories throughout the development and manufacturing process. *Contact BSense:* bsense@bsense-group.com https://bsense-group.com/ *CHAPTERS* 0:00 Why AI Matters for Product Development 0:17 Meet Guillaume Chéneau, Founder of BSense 1:29 AI and Confidentiality: Should You Be Concerned? 3:18 Where You Store and Share Information Matters 3:46 The Competitive Advantage of Using AI 5:01 How AI Saves Time on Technical Questions 6:00 AI for Communication and Translation 7:28 How AI Helps Inventors Develop Their Ideas 8:46 From Napkin Sketch to Detailed Specifications 9:50 What Should You Ask AI About Your Product? 11:55 Do Engineers Still Matter? 13:18 Why AI Can't Replace Engineers 14:26 Should You Disclose That You Used AI? 15:40 Using AI to Make Development Decisions 17:02 AI for Marketing and Market Research 18:35 AI-Powered vs. Traditional Product Development 19:00 AI for Product Development Project Tracking 21:03 How AI Can Support Product Licensing 22:04 Using AI to Identify Market Needs 23:16 Why Product Developers Need to Understand AI 24:48 The Dark Side of AI: Tool Overload 25:10 How to Choose the Right AI Tools 26:30 Beautiful Designs vs. Production Reality 28:00 Why Prototypes Are Still Necessary 30:06 Design for Manufacturing (DFM): Where AI Falls Short 31:28 AI-Generated Designs vs. Manufacturable Products 32:00 Learn AI, But Stay Strategic Have a product you’d rather license than manufacture yourself? inventRight Gateway helps inventors and entrepreneurs prepare their products for licensing, identify the right companies, present them to decision-makers, and manage the follow-up. → Learn more about Gateway and submit your product: https://inventright.com/gateway *About inventRight* inventRight has been helping inventors and entrepreneurs bring products to market, primarily through licensing, for more than 27 years. Subscribe to inventRightTV for new interviews, licensing education, product development insights, and real-world stories from inventors and entrepreneurs. ⭐ *inventRight Reviews:* https://inventright.com/success/ 🏆 *Products licensed with inventRight help:* https://inventright.com/products/ inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC., its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies. Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC. or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

    Launch Your Product: How AI Is Changing Product Development

  5. 2d ago

    Launch Your Product: He Licensed His Product. Here’s What It Took.

    How do you turn a product idea into a licensed product that actually reaches the marketplace? Robert Trevino did it with *ByeKnot,* a fishing accessory he developed, patented, and ultimately licensed to a company. Today, ByeKnot is selling online, including on Amazon. Robert is a former *inventRight member* who learned how to bring his ideas to market through licensing with inventRight. In this interview with Stephen Key, he shares how that education helped him move from developing product ideas to ultimately securing a licensing deal for ByeKnot. You'll learn about *product licensing, patenting an invention, licensing vs. manufacturing a product yourself, marketing a licensed product, and what it takes to keep moving forward when you're developing a new product.* If you have a product idea and are deciding whether to *license your product or manufacture and sell it yourself,* Robert's story offers a real-world look at the licensing path — including the education, persistence, relationships, and mindset that helped him bring ByeKnot to market. *Check out ByeKnot on Amazon:* https://a.co/d/0iBYiqUx Have a product you want to license? *inventRight Gateway* helps inventors and entrepreneurs prepare products for licensing, identify the right companies, present them to decision-makers, and manage outreach and follow-up. → *Learn more about Gateway and submit your product:* https://inventright.com/gateway *CHAPTERS* 0:00 What It Takes to Successfully Bring an Invention to Market 0:14 Meet Robert Trevino, Creator of ByeKnot 0:42 The Product Idea: Solving a Common Fishing Problem 2:00 How ByeKnot Works 2:31 Reducing Fishing Line Waste 2:45 How Robert Patented and Licensed His Product 3:25 Why a Patent Doesn't Guarantee Product Success 3:54 Where to Buy ByeKnot 4:12 How to Market a Licensed Product and Create Demand 5:02 Product Licensing Help: inventRight Gateway 6:43 How Stephen Key's Books Started Robert's Licensing Journey 7:53 Why Robert Chose Licensing Instead of Manufacturing and Selling 8:37 Advice for Developing Your First Product Idea 9:46 From His First Product Idea to a Licensing Deal 10:22 Overcoming Obstacles in the Invention Process 11:14 Developing the Right Mindset 11:46 What Keeps Robert Moving Forward 12:17 Why Mindset Matters for Long-Term Success inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC., its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies. Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC. or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

    Launch Your Product: He Licensed His Product. Here’s What It Took.

  6. 2d ago

    Launch Your Product: This Simple Product Sold 400 Units With Almost No Advertising

    A simple product can start selling — and still leave you with a much bigger question: How do you get a company to take it further? Edward Warmack created a simple guitar armrest that solves a real comfort problem for musicians. He developed and improved the product himself and has sold roughly 300–400 units with almost no advertising, primarily through his website and YouTube. But getting retailers and potential licensing partners interested has been a very different challenge. In this interview, inventRight cofounder Stephen Key talks with Edward about what he's learned from developing, manufacturing, selling, and pitching his own product — and why he's ultimately interested in finding a company to license it. Edward's experience illustrates an important distinction: Proving people will buy your product and building a business capable of selling it at scale aren't the same thing. You'll learn: • How Edward turned a simple problem into a working product • Why customer feedback led him to redesign his original invention • How he generated hundreds of sales with very little advertising • What happened when he approached retailers and potential licensees • Why he's taking the product to the NAMM trade show • Why licensing became more appealing after manufacturing and selling the product himself *Learn more about Edward's Armadillo guitar armrest:* http://www.armadillorest.com/ *Chapters:* 00:01 Why Simple Product Ideas Can Work 00:17 How Edward Turned an Idea Into a Product 00:51 What Is a Guitar Armrest? 02:23 How to Identify a Problem Worth Solving 03:54 How to Prototype a Product Idea 05:22 How Customer Feedback Can Improve Your Product 07:04 How inventRight Gateway Helps Inventors 08:21 How to Sell a New Product Online 09:00 How to Get Your Product Into Retail Stores 10:04 How to Approach Companies About Licensing a Product 11:09 How to Handle Rejection When Licensing an Idea 12:01 How to Market a New Product 13:10 How to Prepare for a Product Trade Show 14:01 What Makes a Product Attractive to Companies? 15:40 How Your Skills Can Reduce Product Development Costs 16:30 How to Validate a Product With Early Sales 17:03 Licensing vs. Manufacturing Your Own Product *You don't have to find and approach companies on your own to license your product.* Let the team at inventRight create your marketing materials, identify the right companies, reach decision-makers, and manage the follow-up needed to get answers. *→ Learn About inventRight Gateway: https://inventright.com/gateway* *→ Schedule a Free Consultation With a Licensing Expert:* https://inventright.com/contact 🎥 *Subscribe to inventRightTV for weekly videos on licensing, product development, entrepreneurship, patents, and bringing ideas to market.* For over 25 years, inventRight has helped inventors license inventions. ⭐ *Testimonials from inventRight clients:* https://inventright.com/success/ 🏆 *Products licensed with inventRight help:* https://inventright.com/products/ *→ Contact inventRight:* https://inventright.com/contact *Disclaimer:* inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC., its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies. Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC. or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

    Launch Your Product: This Simple Product Sold 400 Units With Almost No Advertising

  7. 3d ago

    Launch Your Product: How to Survive Entrepreneurship Without Losing Your Sh*t

    Entrepreneurship is a rollercoaster. Things go wrong. Sales drop. Stress builds. But you don't have to lose your mind in the process. In this video, Stephen Key shares 10 practical strategies he's used over 50 years to survive as an inventor, entrepreneur, and product licensing expert—without losing his sanity. You'll learn: • Why every product has a life cycle (and how to prepare for it) • The importance of continuous innovation and multiple income streams • Why keeping your day job longer is smarter than you think • How to play the numbers game with your ideas • Why protecting your creativity is non-negotiable • How to stay calm when things go wrong • The mindset shifts that separate survivors from burnouts Whether you're venturing your own business or licensing ideas to companies, these strategies will help you navigate the inevitable ups and downs of entrepreneurship. Product licensing is one path that can reduce risk and stress—you create the ideas, companies handle the heavy lifting. Learn more about how to license your ideas at inventRight.com. **Ready to take your ideas to the next level?** Visit inventRight.com or contact us: Phone: +1 (650) 793-1477 Toll Free: +1 (800) 701-7993 Email: stephen@inventright.com, andrew@inventright.com **Learn more about Gateway:** If you've created a prototype and need help getting your product in front of the right companies, our Gateway program connects your ideas with over 1,800 companies actively seeking new products. We guarantee your idea gets reviewed by at least 10 companies or your money back. **Stephen Key's Articles:** Forbes: https://www.forbes.com/sites/stephenkey/ Inc: https://www.inc.com/author/stephen-key Entrepreneur: https://www.entrepreneur.com/author/stephen-key **Connect with Stephen:** LinkedIn: https://www.linkedin.com/in/stephenmkey/ LinkedIn: https://www.linkedin.com/in/invent/ #Entrepreneurship #ProductLicensing #BusinessStrategy Chapters 0:00 Introduction: Surviving the Entrepreneurial Rollercoaster 0:25 Strategy 1: Understand Product Lifecycles 1:31 Strategy 2: Keep Innovating 2:18 Strategy 3: Don't Quit Your Day Job Yet 3:08 Strategy 4: Take Freelance Work and Build Relationships 3:57 Strategy 5: Play the Numbers Game with Ideas 4:48 Strategy 6: Diversify Your Income Streams 6:38 Strategy 7: Why Venturing Is High-Risk 8:32 Why Product Licensing Works Better for Some 9:55 Gateway Program: Getting Your Ideas to Companies 11:21 Strategy 8: Stay Frugal and Save Money 12:34 Strategy 9: Protect Your Creativity 13:49 Strategy 10: Don't Panic—Stay Calm and Get Support 15:00 The Right Mindset and Never Burning Bridges 16:38 Final Thoughts: Balance, Perspective, and Resilience Visit inventRight.com for more info. Need some help with your idea? Contact us: Phone: +1 (650) 793-1477 Toll Free: +1 (800) 701-7993 Email: stephen@inventright.com, andrew@inventright.com LinkedIn: https://www.linkedin.com/in/stephenmkey/, https://www.linkedin.com/in/invent/ Articles: https://www.forbes.com/sites/stephenkey/ https://www.inc.com/author/stephen-key https://www.entrepreneur.com/author/stephen-key

    Launch Your Product: How to Survive Entrepreneurship Without Losing Your Sh*t

  8. 3d ago

    Launch Your Product: How He Turned His Product Into a Business, Then Sold It

    *What happens when you build a business around your product — and someone eventually wants to buy the whole company?* Former inventRight member *John Paulick* created WineHive, a modular wine storage system, and spent 15 years taking it through nearly every path available to a product entrepreneur. He tried licensing, launched on Kickstarter and generated more than *$70,000 in 30 days,* built the business himself, eventually secured a licensing deal, took the license back when the partnership didn't work out — and ultimately sold the company. And there's another twist: John retained a royalty on WineHive. He can continue designing products for the brand without carrying the liabilities and day-to-day responsibilities of running the company. Looking back after the acquisition, John told inventRight: *“My company WineHive was acquired last month, thanks to your inventRight course 15 years ago!”* In the interview, John also explains how what he learned from inventRight about performance clauses and minimum guarantees became important when his licensee failed to perform, helping him regain the rights to WineHive. You'll learn: • How John validated WineHive with a $70,000 Kickstarter launch • What he learned from manufacturing and growing the business himself • Why he eventually returned to licensing • How his licensing agreement helped him regain his product rights • How a distribution conversation unexpectedly turned into an acquisition • How he sold the company while retaining a royalty *Learn more about WineHive:* https://www.winehive.com *Chapters:* 00:00 What If You Can't License Your Product? 00:14 How John Paulick Created WineHive 01:10 How Industrial Design and Engineering Help Product Development 01:31 What Happens When Companies Reject Your Product? 02:11 How to Validate a Product With Kickstarter 02:47 How He Made $70K on Kickstarter in 30 Days 03:50 How Customer Feedback Can Improve Your Product 04:48 How to Grow a Product Business 06:02 The Challenge of Running a Product Business Yourself 06:18 How to Get More Exposure for a New Product 07:08 When Should You License Instead of Manufacture? 07:45 How John Finally Licensed His Product 08:01 What Happens When a Licensing Deal Doesn't Work Out? 09:01 Why Performance Clauses and Minimum Guarantees Matter 09:52 How inventRight Gateway Helps Inventors 10:35 Taking Back the License and Growing the Business Again 11:16 How a Product Business Can Become an Acquisition Target 12:23 From Product Distribution to Company Acquisition 13:01 How Long Does It Take to Sell a Business? 13:35 Selling a Business and Getting Your Creative Freedom Back 14:02 How to Sell a Company and Still Earn Royalties 14:38 Why Product Inventors Keep Creating 16:09 John's 15-Year Product Journey You don't have to find and approach companies on your own to license your product. Let the team at inventRight create your marketing materials, identify the right companies, reach decision-makers, and manage the follow-up needed to get answers. *→ Learn About inventRight Gateway:* https://inventright.com/gateway *→ Schedule a Free Consultation With a Licensing Expert:* https://inventright.com/contact 🎥 *Subscribe to inventRightTV for weekly videos on licensing, product development, entrepreneurship, patents, and bringing ideas to market.* For over 25 years, inventRight has helped inventors license inventions. ⭐ *Testimonials from inventRight clients:* https://inventright.com/success/ 🏆 *Products licensed with inventRight help:* https://inventright.com/products/ inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC., its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies. Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC. or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

    Launch Your Product: How He Turned His Product Into a Business, Then Sold It
See All (163)

About

Ready to turn your product idea into a reality? How To Launch A Product with renowned inventor, author, and entrepreneur Stephen Key offers practical insights, expert strategies, and inspiring stories to help you navigate the path from concept to market. Each episode, Stephen sits down with successful entrepreneurs, inventors, and industry insiders who reveal the secrets behind launching their products and building thriving businesses.

Information