What is Licensing?

Licensing is an agreement between and retailer and a product developer/inventor (YOU). The agreement states that the retailer will manufacture and sell the product for the developer/inventor.

Basically, its having other people spend their money to produce and sell your idea and you getting royalties in return. You don’t have to build your own business this way!

You don’t have to put any upfront money into creating your invention, you can just sell your idea!

You have a couple options;

(1) You can sell your idea outright for one lump sum (the idea is no longer yours to profit from)

Or

(2) You can choose to receive royalty payments based on each sale. The royalty payments are a lot less than if you were to create your product yourself and sell it, BUT you don’t have to spend a ton of your own money or try to find funding to build your product…all at the risk of it possibly not selling in the marketplace.

Companies are now looking more and more to find outside inventors (people like you with great ideas!).

They want to outsource their product development because it brings down the costs associated with having an in-house product and development team.

Also they see outside inventors as better product developers because they tend to be someone who has experienced a problem and is inventing a product to solve that problem.

One company that is seeking outside inventors is Proctor & Gamble with their Connect and Develop program. You can read more about this program in my article Submit Your New Invention Ideas to Proctor & Gamble.


a. Search through catalogs – Catalogs are a great place to look at all the companies that sell products similar to the one you are inventing

b. Magazines – There are thousands of magazines on just about every subject you can think of. By looking through magazines where you think your product might be sold, you can get a list of companies that might be potential licensees.

c. Stores that might sell your product – Think about what stores you would like to see your product sold in. Think Target, Walmart, Longs Drugs, etc.

d. Searching internet stores – Everyday, more and more internet stores are popping up. Approaching online stores about your product is a great way to go.

e. ThomasNet – This is a guide that lists thousands of companies that produce products

f. Industry Trade Shows – There are trade shows for just about anything and everything you can think of. This is a perfect place to find companies that are searching for new products…yours just might be the next one they choose to stock!

Proctor & Gamble is seeking YOUR well-developed ideas through their Connect and Develop program.

I had the pleasure of speaking with Jeff LeRoy, External Relations Manager for The Procter & Gamble Company about their Connect and Develop program which includes a needs list with new types of innovations that the company is seeking.

He wanted me to know that they encourage mom inventors to submit their well-developed product ideas or concepts.

“The more your idea has been developed, the better.” 

They like products that have already been tested on the market and have done well. 

For example, if you have a great recipe for a baked fruit or vegetable snack and you’ve trademarked the recipe, you’ve tested it around your neighborhood, maybe got some local stores to carry it, and received feedback from your customers that they absolutely love your snack….. submit it to Proctor and Gamble!  They may decide to work with you on developing the snack to be sold through their distribution channels.  If you can show to them that there are people who are interested in the snack and excited about buying it, Proctor and Gamble may want to partner with you on your product.  Read more

If you want some assistance bringing your new invention idea to reality, Jim DeBetta, an invention coach with nearly 20 years of experience offers information that will guide you through the frustrations of bringing your invention to market.

Because of his expertise, Jim has been featured in magazines such as Entrepreneur Magazine, Atlanta Life Magazine, Georgia Magazine, and Inventor’s Digest.

He shares his experience and his knowledge by offering seminars and he also does product reviews for your new invention idea for only $395! In your product review he will tell you:

  • Who should be your target market and what the current buying trends are for your target market.
  • What the best packaging would be for your product.
  • If your product has licenseing potential.
  • He will make suggestions on improving your product and tell you what he thinks you can sell it for.

    • If your not ready for the product review. I encourage you to sign up for his seminar ($99) if you really want to learn more about how to get your new invention idea to market. You’ll learn:

  • How to do it right the first time
  • How to save money by doing it right
  • Why so many people fail at getting their ideas to make them money
  • How to get your product in the stores of major retailers
  • Plus a bunch more information!

    • Check out the seminar for only $99.

    My Six Figure Yearly Review

    What is the Six Figure Yearly Program (SixFigureYearly.com)?

    I was very curious about The Six Figure Yearly Program (SixFigureYearly.com) so I purchased it to find out what it is all about. This is an online course with a series of videos that teaches you a way of making money online.

    Is it Useful?

    The program challenges you to really think about what is the best way to make money…and how to make a lot of it. Basically, you will learn how get the most amount of money out of the time you spend doing something. With a job you get paid hourly, you trade your time for money. The same with a service business, the amount of money you can make is limited by how many hours you can dedicate to providing your service.

    So this program enlightens you and provides you with a way to do something once and get paid for it over and over and over again.

    Who is best suited for this Program?

    I definitely recommend this program for newbie’s who haven’t learned about network marketing yet. It’s a good starting point for beginners. If you are new to network marketing it’s easy to get overwhelmed by all the information out there on the internet. This program provides a clear concise way to filter out the clutter and begin to make a profitable business online.

    The Downside

    The downside of Six Figure Yearly Program is that it doesn’t have a lot of NEW information for those who are already familiar with network marketing. But, if you already have an affiliate marketing business, you could take advantage of the new stream of income they have to offer. And it is a good refresher and you may pick up a few good search engine optimization tips, especially from the bonuses offered with the program.

    Is it Worth the Money?

    So is the SixFigureYearly program worth the money?

    Yes, if you are new to affiliate marketing. But probably not if you are already familiar with affiliate marketing. You’ll probably be better off getting a more thorough program like the one I discuss in this article.

    For newbies, I believe the information you receive is worth the money you will spend on the program. This program provides a couple options to begin making money right away.

    You won’t start making thousands of dollars right away…but with a little time and effort the potential is there to make a fantastic income. The best thing about this program is that you can work on it whenever you have the time. If you aren’t able to do any work for a couple of days, it’s no problem because all your previous work won’t go to waste; it just keeps building and building. You can build your business as fast or as slow as you need to.

    It’s easy to start, and it provides simple step-by-step instructions to get started.

    I started using some of the money making techniques that this program provides and have had good luck so far. You can check out the Six Figure Yearly program here!

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