“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.
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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.]