Free Sample
The Licensing Revenue Blueprint
A step-by-step system for turning your product ideas and intellectual property into predictable, passive licensing income - without giving up your day job or starting a manufacturing business.
by Alumigogo Books
Chapter 1: Why Most Approaches Fail — and What Actually Works
You have an idea that keeps you up at night. You have even marketed the idea to yourself: this is the one, this will be the thing that finally generates some serious leverage in your life. You have probably even sent a few emails to companies that seem like a natural fit. And you have probably heard nothing back, or received a polite brush-off that said, "We appreciate your interest, but we do not accept unsolicited ideas." So, you sit there, idea in hand, feeling like there must be a secret door you were never told about.
There is no secret door. There is, however, a common failure path, and almost every frustrated would-be licensor is walking down it. They think licensing is a game of having a great idea and then selling that idea to a company. This is the "eureka" model. The fantasy is that you will someday have a bolt of inspiration, sketch it on a napkin, pitch it to a huge corporation, and just watch the royalty checks roll in. The staggering statistics show this almost never happens. A passionate idea is, and always has been, a hollow currency in the world of intellectual property.
Let's look at a real-world example that illustrates the difference between a coddled idea and a real licensing asset. Ask an independent inventor about the concept for a self-watering plant pot. It is a simple, doable, and potentially profitable idea.