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Debating Stephen Key on Licensing vs Venturing

Invent With Me

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A candid interview with owner of InventRight, Stephen Key. Wow am I glad this one is over.

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00:00 - Giving Stephen Key credit for his work
01:42 - Is licensing an invention easy?
04:36 - Can you license with a sell sheet and a provisional patent?
08:02 - Is licensing just busy idiot work
12:09 - Why I have a bad relationship with Licensing
18:38 - How big is Stephen's Coaching company
23:17 - How many inventors does on of Stephen's coaches handle?
26:22 - What is the InventRight success rate?
29:21 - Why does InventRight aggressively sell their programs to inventors?
35:17 - Am I hurting Stephen Key's business?
39:57 - Does Stephen Key's content build artificial fear about inventing alone?
44:38 - Should inventors pay for a prototype or pay for an InventRight program?
47:06 - How is Stephen Key so convincing?
48:00 - Is Stephen Key anti trade show?
50:54 - Was Stephen ever banned from a trade show?
59:15 - What's the genius behind InventRight marketing?
01:02:46 - What is the average inventor value to InventRight?
01:04:09 - How does InventRight vet their coaches?
01:10:11 - Is inventing just an expensive hobby?
01:12:53 - I confront Stephen with an upset customer's story.
01:16:49 - When does Stephen plan to retire?
01:18:02 - Who has actually made $1M off the Inventright Program?

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20 Comments

@inventwithme Creator 1 month ago Pinned

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@manmade1982 1 month ago

Mr. Key is the guy.
1. Create something people want.
2. Make sure it has a multiplying effect.
3. Something that does not require your presence daily.
Which is licensing your idea.
But, venturing should be tried at the beginning just to see if you or your product got what it takes.

@SherzodKhaydarbekov 1 month ago

I love being creative and honestly, I love watching both channels! I think there is no one single rule when it comes to licensing vs. venturing. No one can say 'hey, my mindset is the only true way, and if you do it differently you are a loser.' The truth is, no one knows exactly what will happen with a product in reality until you actually try. At the end of the day, only you can decide which path makes sense for you and just follow it. Great conversation!

@taseenahmed2156 2 weeks ago

I really admire Stephen; he’s a great guy who’s shared so much of his wisdom for free over the years. What he teaches in his books and videos goes way beyond just licensing. If you're smart and really study his material, it’s super useful for business too. A lot of it covers how to handle negotiations and agreements, and he teaches you to be cautious about things that I’ve found really helpful.

@SherzodKhaydarbekov 1 month ago

When it comes to licensing vs. venturing, your unique situation really dictates which path to choose. Timing is everything! You might start out licensing and eventually pivot to venturing, or vice versa. Who can really say? Where you are right now isn't the whole picture, it's just one piece of the process. In life, anything can happen. At the end of the day, just do something — even if it doesn't work out. It is always better to try and fail than to just stay a dreamer.

@user-hz7kv6js6l 1 month ago (edited)

I disagree with your statement Grant that the more people who listen to you, the fewer people will listen to Steven. I'm a new inventor but not new to the business world. I have my own business. I'm 71 and no spring chicken. I have been an entrepreneur since my 30s. What I'm hoping to gain from both of you is knowledge and understanding of being an inventor. I already have a one woman show, and my invention comes from something I'm already doing, which makes me very comfortable with my invention. I already know about marketing and selling online. I have a website, and honestly, at my age, I may want to get a license deal. These are the things I'm exploring right now. So thank you to both of you for doing this video together. You just killed 2 birds with one stone for me. 😊

@ExomikV 1 month ago

Great debate, both of you have good intentions, just different perspective. Venturing can work for some not for all and it is the same for licensing, it all depends on many things, on the product, the timing, the necesity, the cost, and also the individual that is pushing the idea. Either way both of you have a great insight in your respective fields.

@lees6057 1 month ago

Great content and thank you both for doing this interview. 👏

@resecurelatch 1 month ago

Really enjoyed this down to earth back and forth. Love Steven Key! Learned everything I know from his Invent Right Channel. It had helped me all the way to the Patent attorney they had in one of their interviews. Now going through the vendor process with Do It Best and Lowes.

@Scott-YouTubeAddict 1 month ago

I've been waiting for this video and gave it a like in the first 2 minutes. Thankyou both for an intelligent respectful conversation 👌😊🇦🇺

@user-hz7kv6js6l 1 month ago

I celebrated mailing my provisional patent certified mail yesterday. 😊 Why not make it a big deal? Go for it. It gets you excited to take the next step in your journey.

@carloshernandez4891 12 days ago (edited)

I appreciate your show, and content, great interview, your pointing out the people you've interviewed as success, the part about artificial fear, you're pointing out survivorship bias, the entrepreneurs you interview are the ones who have survived and made it. The reality of business is that very few make it, not saying it's not worth the pursuit, but reality is pretty brutal.What he said starting at min 43:00 is so true. Also, this isnt a zero sum game, there's plenty of people willing to pay for those who create value to earn.

@kickpushp88 1 month ago

Thank you both. Very insightful.

@freelancedesigns 1 month ago

I am impressed that you both are willing to discuss such polar opposite strategies. This was a great episode to watch.

@broccolihart1 1 month ago

I think what makes Stevens approach attractive is that his ability to problem solve is very methodical

@endorphinder 1 month ago

This was a fan-fk'n-tastic discussion.... Thank you both for this candid exchange. I have many thoughts about it.... (but I am putting those on my secret podcast).

@YardSocketDotCom 1 month ago

Thank you! Great video!!! I absolutely cannot wait to see what your next video is about. Most of your videos teach me something I didn’t even know I needed to be taught. Listening.

@endorphinder 1 month ago

Should a piano teacher, who loves to teach piano, turn down students because they will never get to Carnegie Hall, or never play on a big stage, when it is often impossible to know if that is the case? Grant seems to want black and white answers in a greyscale world; and Grant is heavily invested in his (Grant's) long held black and white views. And I think Grant needs a hug.

@tonytlly 1 month ago

Great video! Ive been watching invent right for several years and just couldn't pull the trigger on trying their coaching program. Also i love the fact that you asked hard questions. Bravo! 🙌🏼

@FrostShieldHVAC 1 month ago (edited)

If you want to grow your muscles, you’ve got to add more weight to the barbell. Licensing does not add any weight. prototyping selling a product pushing through, you gradually add weight on the barbell and the other end of your product. You will be better for it. Don’t waste your time with licensing for peanuts. even if you launch a product that fails, I promise you in the process you’ll think of another one that will succeed because now you have the knowledge and the grit.