Get stock in the company you develop ideas for. Don't just take royalties only.
A couple years ago I had two young guys approach me about developing a web site for them. I asked them to explain their industry. I looked at the service they were going to be marketing.
Studied it and said wow great industry but it really needs new technology implementation.
Next thing you know I'm on the drawing board coming up with a way to revolutionize the process of what they were doing. Presented it to them and they flipped over it.
We put together a company. I got a big chunk of stock. We raised the million dollar funding to develop the technology into a workable product, put together the techs to make it a working product and launched.
Filed for the patent on it.
24 months later we were acquired by a publicly traded health care company.
And to think this particular deal started from just someone asking me to do a web site for them.
