You can be a creator or a consumer, but it’s the creators that get paid.
I’ve argued before that creativity is the most important skill for entrepreneurs because before you can sell anything, you have to create that value proposition.
But what if you’re not creative?
I believe we all have that innate creative spirit in us somewhere, it’s just a matter of flexing that creative muscle.
In this episode, I talk with Carol “Stash” Stanley of StashSports.com, and David Fedewa who is an inventor mentor at InventRight.com.
Stash holds six patents related to products in the baseball and softball world, as well as footwear safety. She’s worked on these products as a side hustle while working full-time at the University of Virginia.
David Fedewa is a serial inventor who has taken the product licensing route as described by Stephen Key in episode 173 to earn passive income from his product ideas.
Tune in to hear how they come with ideas, how to unleash the creativity in your own head, and what to do with those ideas once you have them.
While this conversation centers on physical products, I think there are parallels and takeaways for the world of service ideas and digital products as well.
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Learn:
- How David and Stash come up with ideas to turn into products.
- How Stash uses her own experiences and problems to come up with inventions.
- How David licenses his ideas to earn passive income in royalties.
- How to check if your idea already has a patent or has been taken to market already.
- Why seeing your idea already has a patent doesn’t mean you shouldn’t still pursue it.
- How you can train your creative muscles to become better at generating ideas.
- Why David is a “big advocate of the MVP” when he pitches ideas.
- David and Stash’s #1 tips for Side Hustle Nation.
Links:
- StashSports.com
- InventRight.com
- LaceLocker.com
- David’s YouTube channel
- Arctican by Corkcicle
- How to Turn Your Ideas Into Recurring Revenue with Stephen Key
- Product Licensing with Nate Dallas
- The best side hustles for creatives
Download the Free PDF "Highlight Reel" from this Episode
With all of my guest's top tips and resources included.
Enter your email to access it now:
Success! You just unlocked the highlight reel from this episode ... AND over 200 other subscriber-only bonuses. Check your email for details :)
(If it doesn't show up in 5-10 minutes, check spam/promotions.)
You'll also receive my best side hustle tips and weekly-ish newsletter. Opt-out anytime.
This is great. Thanks for all of the information and ideas to help with business on a day to day marketing business. Also thanks for the inspiration. I hope to help some of you succeed at what your doing how ever you are doing it. You will be surprised how fast you can transform your life with just a little of your help. I’ve already begun to succeed at what I am doing and want to continue doing it because I love what I do and love the life I am creating.
Nick, I’ve been following you for a while now and your last few podcasts have been gold. Brendan Hufford, Matt Bochnak, and Carol Tice have given me great resources to work with. Honestly, I need to go back and listen again with a note pad in hand.
Keep pumping it out.
Best wishes,
John Van Lunen
So happy to hear it, John! Thanks for tuning in!