2) Find a Multiplier Effect For Your Income | Stephen Key

Hack the Entrepreneur Top Ten | Business | Marketing | Productivity | Habits

This interview was originally published on November 24, 2014, as HTE 027: Finding A Multiplier Effect For Your Income | Stephen Key.

The popularity of this episode is rooted in Stephen Key's unique perspective on passive income. Not that Stephen encourages laziness, but he does push us all to find our multiplier effects and to create income streams beyond our hours worked.

---

Today’s guest on Hack The Entrepreneur is an entrepreneur and an inventor, that consistently earns millions of dollars licensing his ideas to companies like Disney, Nestle, and Coca-Cola.

He is not high-tech, but he knows how to take an idea and very quickly make it a global sensation.

Before becoming a savvy inventor, he spent part of the 1980s as the head of design at Worlds Of Wonder. They had two number one hit toys that you may remember, Teddy Ruxpin and LazerTag. Since this time he has started his own businesses,

Since this time, he has started his own businesses, InventRight, and Spinformation, and has sold 100s of millions of products.

He is the author of the best-selling book, One Simple Idea.

He currently writes a weekly column on Entrepreneur.com and also writes regularly for Inc Magazine.

Now, let’s hack…

Stephen Key.

What you will learn in this episode:

• Why the multiplier effect is required to produce great wealth
• How creative people get distracted so often (and how to work through this)
• How to choose an idea that you can implement very quickly
• The one simple thing Stephen did that doubled his business in 8 months
• Why you should borrow ideas when you see them

Resources and links mentioned:

• InventRight
• One Simple Idea Book
• Stephen Key's Entrepreneur.com Column
• A Beginner's Guide: How to Rent Your Ideas to Fortune 500 Companies (Four Hour Work Week Blog)
• Stephen on Twitter
• Jon on Twitter
• Exclusive Sponsor: FreshBooks (30-day Free Trial)