Bob Serling – Reverse Inventing

Bob Serling – Reverse Inventing

IMG_F1FB3D-FD165A-A2E21C-28E913-540D3D-F14941Name Product:  Bob Serling – Reverse Inventing

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Price: $1997

How to make a small fortune with your big ideas — in half the time
and at a fraction of the cost of conventional inventing techniques

People tell me I have the best business in the world.

Why? Just take a look at one of my typical days…

I wake up in the morning, read the sports page and comics while having tea and some fruit, then walk into my office at home and make a phone call. Immediately, my top engineer is dispatched to China for a month to work out the manufacturing specifications for my toy.

At the same time, my industrial engineer — one of the top engineers in the business — is working on a chemical compound for a component of my toy that will make a brilliant, glowing ball of sparks that’s both cold and safe.

My patent attorney? She’s making sure that all the proper protections are in place so no one tries to create a competing product. She’s also closing deals with six of the top celebrities in this field to feature their names and companies on my toy.

Then there’s my graphic design team. They’re hard at work creating an attractive, eye-popping package that kids will love. And a collection of full-page, full-color ads that will run in kids magazines. Oh… and another team of creatives is working up story boards for the television commercials that will spread the word to millions of kids every morning during cartoon shows.

Once all that work is complete, hundreds of other employees roll into action for me. A team of sales people spreads out all over the world — some in person, some on the phone — to make sure that Toys-R-Us, Wal-Mart, Kaybee Toys, Target, CVS, Walgreens and dozens of smaller drug store chains, department stores and gift shops are stocking their shelves with my toy.

Behind the scenes, the production line is rolling, cranking out hundreds of thousands of copies of my toy, all featuring the six celebrities whose popularity makes this toy sell like hot cakes. More employees are working the production line assembling my toy, inserting the toys into their packaging, loading the packages into boxes, putting the boxes onto pallets, and then shipping them around the world to the stores that will sell them.

But here’s the best part…

I use the term “my” employees, and they are, because they’re all devoted to making my toy successful. BUT — I’m not in charge of any of them, I don’t pay a penny of their salaries, they don’t report to me and I’m not responsible for seeing that any of the tasks I’ve listed here get done.

That’s because I’ve licensed my toy idea to a major toy company and all these employees are working on my behalf… but I don’t have to pay their salaries or lift a finger!

Four case studies of “reverse inventing” in action

Case Study #1: Skateboard Toy

You may have heard of the toy skateboard I created and licensed to a major toy company. It featured the logo of Tony Hawk and half a dozen other high profile skateboarders and was sold in Toys-R-Us, Wal-Mart, Kaybee Toys, Target and thousands of drug stores and other retailers all over the world. How did I pull this off despite having no previous experience in the toy industry? By applying the “reverse inventing” steps I showed you above. Plus, I currently have a couple new toys and gift items being considered by major corporations.

Case Study #2: Educational Software

I co-founded a software company, licensed the software out at first, and then sold the company for $6.4 million in just 17 months. That company is still going strong and boasts an impressive customer list that includes General Electric,, Johnson & Johnson, Kaiser Permanente, Pioneer, Sunguard and more. Here again, I had zero previous experience in the software or education fields.

Case Study #3: Marketing Campaigns

Although I’m strongly involved in creating and licensing ideas for products and services, I’m probably best known for licensing marketing campaigns to my clients — and for having taught thousands of people how to do this.

There’s a letter I wrote that has now become known as “The $25 Million Letter”. People call it this because this one-and-a-half page letter landed an agreement for a $25 million contract the first time my client sent it out. But equally important, I’ve taken this same letter, made slight modifications to it and licensed it out to clients in 14 different industries. And collected handsome fees and royalties each time.

I also created a licensing strategy for the late Corey Rudl that pulled in $1 million profit for his business in the first week — and a total of $2.6 million in a few months. And I made a hefty six figures just for my idea.

Or how about the 3 word phrase I created for a prominent sales training company that paid me a quick $15k to use it? Can you think of a faster way to make a serious profit than that? I could give you many more examples of marketing ideas and campaigns that I’ve licensed out, but I’m sure you get the picture.

Case Study #4: Licensing Agent

A minute ago, I mentioned that one of the world’s elite training companies has hired me to license their materials to large corporations. And that I get a five-figure retainer plus a significant percentage of the profits for doing this.

Well the deal is even better than what I described. Because what I didn’t mention is that a deal like this can easily continue for ten years or more. Which means I collect my royalties for years to come. And the more corporations I can find to license these training materials to, the more money I make.

But what makes it even sweeter is that not only can I act as a licensing agent for a company’s materials like this, but I can also do this for dozens of other companies’ products as well.

After all, the licensing process is nearly identical regardless of which industry you want to use it in. So there’s nothing stopping you from acting as a licensing agent — just as I do — for a wide variety of products. Which means that you don’t even have to come up with your own ideas for what to license. All you need is the ability to take other companies’ great ideas and license them for an upfront fee and a percentage of the profits.

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