Stephen Key is an idea man who calls himself a re-inventor, not an inventor. He educates people on how to license ideas for long-term, recurring revenue. He offers one-on-one coaching and courses to supplement his book, One Simple Idea. Daniel and Stephen discuss the book, strategies, and the true meaning of freedom, during today's podcast.

 

Key Takeaways:

[1:18] What exactly does Stephen Key do?

[4:45] Stephen's book, One Simple Idea, educates people on how to get paid for their creativity.

[9:51] Stephen is in full control of his creativity.

[13:16] The consistent process of proliferating bad ideas, until one good idea stands out.

[18:55] Is it possible to knock it out of the park with your first idea?

[24:17] Starting a company is working on one idea for years; with licensing you can work on multiple projects a year.

[29:11] You have to be a little bit crazy, and put your entrepreneur ego at risk.

[34:03] Your life will change, once you hit the jackpot financially, but probably for the worst.

[41:16] Rituals help keep you grounded, when you start receiving big checks.

[44:15] Having the freedom to say no, is important to Stephen.

[49:11] The beauty of nurturing growth in other people.

[53:14] Stephen has gained confidence by overcoming obstacles.

 

Mentioned in This Episode:

Invent Right

One Simple Idea: Turn Your Dreams into a Licensing Goldmine While Letting Others do the Work, by  Stephen Key

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