Stephen Key's Social Links
Stephen Key is an American entrepreneur, inventor, businessman, best-selling author, and founder of several successful companies, including InventRight LLC. Oftentimes referred to as the “idea man”, Key has found success in selling ideas to companies and then collecting royalties on the products that are manufactured and sold. Over the last 30 years, Key has licensed over 20 products to various companies and is the holder of 13 patents. In 2002, Key co-founded InventRight with business partner Andrew Krauss. The company focuses on teaching people how to license their invention ideas and offers a broad database of information related to licensing for interested parties.
In addition to his work with InventRight, Key founded SpinLabel Technologues in 2010, a patented “spin” label which is actually two labels; the top of which the consumer spins, revealing information on the bottom label through a window. The idea behind this innovative technology is to increase labeling space on a product by roughly 75%.
Key is also the author of “One Simple Idea: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work”, which came out in 2011 and has since been translated into five other languages. Beyond appearing on numerous national television shows, such as Dr. Phil and “The Big Idea with Donny Deutsch”, Key writes a popular weekly column for both Entrepreneur.com and Inc.com.
Companies and Investments
InventRight LLC (Co-Founder), SpinLabel Technology, Inc (Chief Technical Officer), Stephen Key Design LLC (CEO), Big Idea Guys (President)
Some of the best advice I can give is to encourage young entrepreneurs to not let the fear of your idea being stolen hold you back.
You must take risks in order to receive awards.
Always look at the market and understand what it needs before launching a new product or service.
There is a lot of opportunity for people to start a small business, you just have to know where to look.
Starting small allows you to build an inventory, which is important in the long run.
It is a good idea to test a product and make sure there is an opportunity for it to grow before launching. Do your research, conduct various test runs, and try your best to manufacture yourself and get feedback from others.
Stephen Key's Quotes
|“||Building a prototype should teach you about manufacturing, including what works and what doesnt.||”|
|“||You’ve got to be as fast as you can or team up with someone in that industry because at the end of the day an idea is great, but you have to execute it.||”|