One Simple Idea for Startups and Entrepreneurs: Live Your Dreams and Create Your Own Profitable Company 0
One Simple Idea for Startups and Entrepreneurs: Live Your Dreams and Create Your Own Profitable Company
From award-winning entrepreneur, inventor, and business owner Stephen Key comes the highly anticipated follow-up to his bestseller One Simple Idea
How many times have you seen a product and thought, I know how to make that better? Or not seen a product and thought, How is it that no one has invented this yet? And when haven’t you thought, I need to be my own boss?
You’re thinking the right things. Now, the next step is to take action—and that’s exactly what One Simple Idea for Startups and Entrepreneurs is all about.
Stephen Key, one of the world’s leading experts on getting business ideas off the ground, revealed in his groundbreaking book One Simple Idea just how simple it is to make a fortune by selling or “renting” your great ideas.
Now, he helps you live the entrepreneurial dream by delivering a proven, straightforward process for starting, growing, and running a business—without the need for an MBA or millions of dollars in funding. As an inventor and successful business owner, Key brings a unique and fully rounded perspective to the subject, teaching you how to:
- Develop, test, and protect your idea
- Plan and launch your business
- Manufacture, package, market, sell, and distribute your product
- Manage and grow your business
- Prepare for and implement your endgame
Key draws on his own experience as a billion dollar inventor to offer how-to’s and other takeaways you can use to get off the ground and into the black. Case studies, tips, and advice from other successful entrepreneurs underscore key principles to make it easier than ever for you to achieve your business and life dreams.
You don’t need millions of dollars or a business, engineering, or manufacturing background to develop, produce, and sell your own product idea. All you need is one simple idea—and the passion to make it happen.
Praise for One Simple Idea
“This book is straight-forward, no-nonsense information for how to start a successful company. Read it!”
—Barbara Corcoran, investor/shark on ABC’s reality hit Shark Tank
“The ideas in this book are key to creating the kind of enterprise that will create hundreds of thousands of jobs in the future. The goal of entrepreneurship is to reduce the risk of failure as detailed in this book.”
—Nolan Bushnell, inventor of Pong® and founder of Atari®
“Kudos!! One Simple Idea for Startups & Entrepreneurs is brilliant !! A must read for those that have the courage to dive into their dreams. This is a true Road Map for those that have the passion to achieve their Freedom. Truly something that I wish would have been there for me 33 years ago.”
—Russ Hornsby, toy industry veteran, 2010 Toy of the Year award winner in seven different countries, and creator of hit toys ZhuZhu Pets®, XiaXia Pets®, DeGeDar® and others
“I took one of those simple ideas and turned it into a company that now has its products in over 35,000 doors of retail distribution. With One Simple Idea for Startups & Entrepreneurs, Stephen gives us the tools we need to take an idea from your Head to the Store shelf.”
—Todd Basche, inventor of Word Lock®, the #1 selling word combination lock
“Any inventor or entrepreneur who wants to make money without risking hundreds of thousands in design, manufacturing, warehousing and distribution would be well served to take advantage of the practical wisdom offered up in Stephen’s most recent work, One Simple Idea for Startups & Entrepreneurs.”
—Ron Hazelton, former home improvement editor for ABC’s Good Morning America and leading authority in the do-it-yourself home improvement field
“One Simple Idea for Startups and Entrepreneurs is a MUST read. The process is broken down into steps that makes it simple to follow and gives you a roadmap to Success.”
—Gene Luoma, Inventor of Zip-It Clean®
“Advice is everywhere but good advice is very rare. Stephen Key’ One Simple Idea for Startups & Entrepreneurs is the exception.”
—Steve Greenberg, author of Gadget Nation and co-host of Food Network’s television program Invention Hunters
“Stephen’s a trailblazer in what is now widely accepted as the emerging field of frugal innovation.”
—Patrick Raymond, Invention Expert for Huffington Post, creator of InventionScore®, and co-host of Invention Hunters on Food Network
“Stephen Key is the real deal. Without his knowledge and willingness to share it, I would not have been able to successfully bring my own product to market. Now readers of One Simple Idea for Startups & Entrepreneurs have the same opportunity to benefit from an education in startups and just how true it is that all it takes is persistence and one simple idea.”
—Nancy Tedeschi, inventor of SnapIt Screw&™ and prize winner of the WalMart Get on the Shelf contest
Q&A with Stephen Key, Author of One Simple Idea for Startups and Entrepreneurs
How do you know if you have a winning product?
There are some simple and relatively inexpensive (and quick!) ways to test your product to determine if you have a “sellable” idea. First, develop a sell sheet highlighting your product’s benefits. Take it to potential retailers (store or department managers) and ask them if they would buy it. Are they interested? What are their comments?
Next, use social media – perhaps a survey – include a photograph or drawing with a brief explanation – and see if it’s what people want. Or, find “angel investors” – they are typically very direct with their response – and ask them “Would you invest in this product?”
Finally, you could (and this would involve a higher cash outlay), make a small production run of your product and actually see if it sells. Retailers will happily (in my experience) offer something for sale (on consignment) if they didn’t have to pay for it! Does it sell? How many in a day? Week? Month?
I’m on a limited budget and have a day job. I’m a little fearful of taking the next step to start my own business, so what do you suggest?
If you focus on moving forward with a simple idea, that can help you face your fear and overcome anxiety. Why? Because, it isn’t necessary to reinvent the wheel to start a business! It’s best to focus on a simple idea because it’s not only a product that will appeal to a large market, it’s easy and inexpensive to manufacture, and also easy to demo. Retailers view shelf space as expensive and precious. Simple ideas are desired because inventory is manageable, and placement on a store shelf is effortless.
Since I’m on a limited budget, do you have any tips or advice on how I can save money and be frugal, but, at the same time, still manage to get the job done?
There are so many ways to utilize talent within your own area that will help you move forward with your project for little or no money. I suggest going to, or contacting, the packaging or engineering departments of your local college or junior college. Many times, since your project delivers “real world experience” for their students, your project will be accepted as an assignment. You can receive high quality packaging, prototyping, and CAD drawings for free if you know who to contact.
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