Stephen Key is an idea man who calls himself a re-inventor, not an inventor. He educates people on how to license ideas for long-term, recurring revenue. He offers one-on-one coaching and courses to supplement his book, One Simple Idea. Daniel and Stephen discuss the book, strategies, and the true meaning of freedom, during today’s podcast.
[1:18] What exactly does Stephen Key do?
[4:45] Stephen’s book, One Simple Idea, educates people on how to get paid for their creativity.
[9:51] Stephen is in full control of his creativity.
[13:16] The consistent process of proliferating bad ideas, until one good idea stands out.
[18:55] Is it possible to knock it out of the park with your first idea?
[24:17] Starting a company is working on one idea for years; with licensing you can work on multiple projects a year.
[29:11] You have to be a little bit crazy, and put your entrepreneur ego at risk.
[34:03] Your life will change, once you hit the jackpot financially, but probably for the worst.
[41:16] Rituals help keep you grounded, when you start receiving big checks.
[44:15] Having the freedom to say no, is important to Stephen.
[49:11] The beauty of nurturing growth in other people.
[53:14] Stephen has gained confidence by overcoming obstacles.
Mentioned in This Episode:
Nathan Chan is the Founder of Foundr Mag. Nathan reached out to Daniel when he was just starting out, and they have been online friends ever since.Foundr started as a monthly digital magazine on the app store. It was designed to show people what it takes to become a successful entrepreneur. Today, Foundr is much more than a digital or print magazine. This makes Nathan uniquely qualified to speak on this podcast about real business advice, how to stand out in a world where everybody has a brand, and how to create authority and disrupt a market, to become the greatest entrepreneur ever.
[:43] Foundr Mag origins and purpose.
[1:54] Entrepreneurs who have disrupted an industry are interviewed and grace the cover of Foundr.
[5:24] Chan explains the difference in creating an asset based business or a cash flow lifestyle business.
[11:44] Large corporations will be buying startups that are more than personal brands.
[13:40] Foundr created their own authority and credibility to make them stand out.
[19:31] Is it cool, is everyone else doing it, and testing the channel, leads Nathan towards his next projects.
[25:59] Would Nathan Chan still start a magazine if he was just starting out today?
[27:24] To succeed, when you say you are going to do something, make sure you follow through.
[29:36] The coffee table book, Foundr Version 1.0 is a greatest hits album of entrepreneur’s stories.
Mentioned in This Episode: