I’ve always wanted to license my ideas and have had a few near misses in the past. I licensed a candy idea I called LolliProps to a US company a few years ago. It made it through to sample stage, but in the end, it couldn’t be produced cheaply enough. I have a licensing agent trying to license my (co-created) cartoon book and card ideas too, but no luck with that either so far.
Blogging/Video My Progress
I have decided to have another go at licensing a product idea and blog/video my progress. I don’t have any product ideas at the moment, so will be starting with a blank page. I will try out different creative techniques to get ideas and share these. Obviously, if I hit upon something that I think has potential, I will have to keep it to myself for now.
Following the Steps in One Simple Idea
For the licensing process, I am planning to follow the stages that Stephen Key sets out in his book “One Simple Idea” (The yellow version of the book). I love how Stephen and Inventright do things, having been a student of their program in the past (when I licensed the candy idea). I love the idea side of coming up with product concepts, but the whole idea of cold calling people brings me out in a cold sweat.
I have no idea how this will work out, it might take a few attempts for me to come up with something that has potential, who knows. I plan to take a look at the Inventright list of companies openly interested in new ideas and then decide which niche/s to start exploring. It won’t be anything that needs rocket science that’s for sure.
If you’d like to join me, please feel free.