One Simple Idea: Eliminate Your Competition By Partnering With Them - Deepstash
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One Simple Idea: Eliminate Your Competition By Partnering With Them

When you come up with ideas that are incremental improvements, they have the benefit of being validated already. If people buy red umbrellas, chances are they’ll buy green ones too. However, it also means that there will already be plenty of others trying to sell differently colored umbrellas.

Take on a “if you can’t beat ’em, join ’em” mentality and explore opportunities to work together with competitors.

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MORE IDEAS ON THIS

Using Referrals

Renting out your ideas means that in the end, you’ll stand for the product’s quality with your name, so make sure you live up to it.

Whoever manufactures your product better be good. But the best suppliers already have a lot of business, so how can you get a class A producer as a newbie?

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Appeal To The Sub-Audience

Appeal To The Sub-Audience

Chances are you won’t stop at renting out one idea, because if you can get it to work once, you’ll want more of it. But there’s one pitfall you have to avoid when coming up with more products that are similar to your previous one: changing the target audience.

People who buy map sets wa...

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Tips For Licencing: Look For Ideas

Tips For Licencing: Look For Ideas

You do not have to be Einstein to have a break through idea. If you have ever been shopping, then you can come up with ideas. The key here is to focus on thins that really annoy you. If they annoy you then maybe they annoy others. This is a starting point for a new idea. Think about problems and ...

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Pitching Your Idea

Pitching Your Idea

If you decide to bring your idea to market then you need to be schooled in business. This means you need money, management, and accounting, production, sales and marketing. Then after you have all this, you need customers. All of this is hard.

Pitching your idea to the big guys is the way t...

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Tips For Licencing: Protect Your Idea

Tips For Licencing: Protect Your Idea

Contrary to negative belief; most companies do NOT want to steal your idea. The traditional way to protect your idea was to submit for patents. This is a very expensive endeavor.

PPA: This is a provisional patent application and costs $110 to submit. This gives you Patent P...

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Tips For Licencing: Prove Your Idea

The traditional licensing model works like this. Find an idea, build an expensive prototype, spend a small fortune for patent protection and hope it sells. This is why most people don't think of licensing as a viable career because the barriers APPEAR too big to bridge. Proving your idea before y...

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The Three Key Takeaways

The Three Key Takeaways

Here are 3 lessons from One Simple Idea:

  • Eliminate the competition by partnering with them.
  • Get your foot in the door of manufacturers with referrals from established buyers.
  • For new products, always make sure they appeal to a sub-audience.

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