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Stephen Key discusses the importance of taking action after coming up with an invention idea, emphasizing the risk of seeing someone else bring it to market before you. He provides 10 things to consider before taking any steps, including options like venturing, manufacturing, starting a business, writing a business plan, raising money, and selling on platforms like Amazon. Key highlights the entrepreneurial mindset required to control the entire process and suggests that venturing may be the right path for some individuals.