#7463
Adam
Participant

Julian,
Great thoughts from the “You should produce it yourself” side. And you are absolutely correct for someone like you.
Sophia,
It all comes down to what you want out of life. Statistically, the odds of success producing it yourself are over 20 times the odds of success trying to license (I read that somewhere). The person who successfully produces it themselves also makes much more money as Sophia mentioned.
However, That success comes with a high price and requires many skills that most people don’t have.
You need to be a marketer, salesman, accountant, businessman, manufacturer, and engineer or have enough money to hire all those people. It’s also a 14 hour a day, 7 days a week job and you have to bet the farm.
If you are like Julian, do it! I, on the other hand, have many ideas I want to see out there and not a lot of money. I have no desire to be the boss. I want to have ideas, prove them out, develop them, and pass them on. A lesser profit on each idea, and time to pursue new ones (which is the part I love) is quite acceptable to me. That’s why I am trying to license mine.

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