About this episode
Could you turn a product idea into passive income, without starting a business or having to do it all yourself?
Courtney Laschkewitsch is a serial inventor who, with no prior experience, licensed six products after facing 51 rejections. Now, Courtney helps everyday inventors bring their ideas to life and earn passive income through the free resources on her website, Serial Inventing, and the company she works for, inventRight.
Courtney lays out the inventRight 10-step product licensing business model and shows how she went from zero experience to multiple licensable products. We dig into what realistic timelines, costs, and mindsets look like when you want to bring your product idea to market by licensing instead of manufacturing.
Courtney explains how licensing can let someone else build your idea while you collect royalties from anywhere in the world. You’ll learn not just the mechanical steps, but why so much of your success depends on persistence, handling rejection, and building skills many people overlook. She’s honest about the financial realities - what small checks look like, what good deals look like - and what terms in contracts you should always negotiate. If you want a clear, actionable path toward turning ideas into income without a massive risk, this episode gives you that roadmap.
Do you have a product idea that could help you earn passive income while you travel? I’d love to hear about it, and I hope you’ll share them sending me an audio message.
Tune In To Learn:
Why product licensing can let you earn passive income location?independently without owning inventory or manufacturing
The first three foundational steps: doing market research, checking for prior art/patents, and defining what makes your idea unique
How to build prototypes or virtual models to show your concept
How to write a one?line benefit statement and develop an effective sell?sheet
Common myths around patenting and protection: what it does, the costs, limitations, and when it’s essential
How to build a hit list of companies, reach out sensitively to avoid unsolicited idea policies, and follow up well
Key negotiation levers beyond royalty rates: territory, exclusivity, distribution, wholesale vs net sales
How to decide when an idea is worth continuing vs when to shelve it, and how to improve your process as you iterate
And so much more
Resources:
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