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:
