99: Ideas are Worthless? Nate Earned $300,000 in Passive Income From His (An Intro to Product Licensing)

The Side Hustle Show

Nick Loper

Business, Education, Entrepreneurship, How To

4.7 • 1.6K Ratings

🗓️ 19 March 2015

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nate and his brother earned $300,000 in passive income by licensing one of their ideas to Mattel. They didn't have to design it, produce it, or sell it. But they found someone who could, and they cashed the checks. And to be fair, Nate will be the first to tell you these kind of results aren't typical -- but he's proof they ARE possible. Nate's actually a dentist by day, but a pretty serious side hustler by night, and on this call we take a deep dive into the world of product licensing.

Transcript

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0:00.0	Side Hustle Show 99, 300 grand and passive income from one idea?
0:04.7	Welcome to the Side Hustle Show.
0:08.0	Where aspiring part-time entrepreneurs learn how to turn their
0:11.1	side hustle dreams into reality.
0:13.0	Because your 9 to 5 may make you a living,
0:16.0	but your 5 to 9 makes you alive.
0:18.0	And now your host, Nick Loper. Loper.
0:25.0	Hey what's going on Nick Loper here.
0:28.0	Welcome to the Sidosso show.
0:30.0	This is episode 99, $300,000 in passive income from one idea.
0:37.0	Pretty crazy show for you today.
0:39.0	You know, in the business world there's this concept that ideas on their own are pretty much worthless
0:45.6	and execution is all that matters and I'm sure you've heard guests on this show echo that.
0:49.4	You probably heard me say that.
0:51.0	But today we're going to challenge that notion in a big, big way. My guest is
0:56.4	Nate Dallas, from Nate Dallas.com. He's actually a dentist by day, so he's still a side hustler, but pretty serious side hustler at that.
1:07.0	And on this call, we're going to take a deep dive into the world of product licensing.
1:12.0	Now if you're not familiar with how licensing... to the world of product licensing.
1:12.8	Now if you're not familiar with how licensing works,
1:15.3	like I wasn't, it's how you can sell your ideas
1:19.2	to big companies and collect royalties, sometimes for years after the fact, on sales that they make.
1:27.0	Definitely an interesting one.
	...

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