“Adam” seems like a nice guy. He subscribes to Early to Rise, and, in a recent e-mail, said he is especially interested in my articles about how to get into the movie business. He said that he doesn’t have time to try to get into the movie business himself, but he has tons of ideas. So he would like to offer his ideas to me – and, if I wanted to do something with them, he would get a percentage of whatever money they brought in.
You might think this sounds like an attractive deal for me – but it’s not. Here’s how I explained it to Adam: I get about 20 of these offers a week. Not only that, but I have no shortage of my own ideas that I want to develop. And those ideas are my babies. I only wish I had enough time to work on them all. So do I need his ideas? Nope.
Compare Adam’s e-mail to the one I got from “Cara.” She wrote to tell me that she has the signed life rights of one of baseball’s biggest stars. She also has a finished script based on his story – one she claims was written at a professional level. She wanted to know if I would be interested in helping her market it in exchange for a cut of the profits.
Unlike Adam’s offer, Cara’s seems worth looking at. I asked her to send me a copy of the script and the signed agreement on the life rights. If the script is good, I know I can make a few quick calls and get it seen by someone who might want to produce it.
What’s the difference between Adam and Cara? Cara has a complete package that sounds highly marketable. So by putting in a little effort on it, there’s a chance I could see a big payday. Adam might have some great ideas, but so what? As the saying goes, an idea and 62 cents will get you a phone call.
If you’re serious about making money with your great idea, don’t just offer it up to someone in the hopes that they will be able to turn it into something profitable. You’ve got to do the hard work yourself. Bring them a package that they can help you produce or market – a package that has the very real potential to make both of you a lot of money.
[Ed. Note: Paul Lawrence is a successful small-business entrepreneur who has sold and licensed the rights to both intellectual and physical products. The results? He receives quarterly checks for many thousands of dollars in royalty payments from other companies. For more information on his program - which teaches you how to obtain and license rights - click here.]
Similar Articles:
- The No-Contacts, No-Experience Guide to Hollywood – The man entered the mammoth building … just down the block from the offices of several other telev…
- Obtain the Rights to a Product With Little to No Money Upfront – Let’s say you come across a great product that you think will be a big seller. You could obtain the …
- The Secret to Selling the Rights to Products – Obtaining and selling the rights to products can be very profitable for entrepreneurs, even those wi…
- Get Rich With Rights – “If the TV ads do as well as we hope, you’ll get a big payoff,” said the company’s president as she …
- A Powerful Negotiation Tactic That Can Open New Doors – Just the other day, I had a conversation with a television producer regarding a reality TV project o…
- How to Write That Screenplay (With a Little Help From Your Friends) – We each have at least one good movie script in our memory banks. What’s yours? And why haven’t you w…
- The 6 Most Dangerous Words an Entrepreneur Can Hear – 1. That 2. Sounds 3. Like 4. A 5. Great 6. Idea! When running your new product ideas past friends an…
Very informative article, gives me exactly what I need to make sure my JV proposals are tight. This is the best newsletter I’ve come across in years. Thank you,
Fred