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Stephen Key discusses what to do once you have an invention idea. He emphasizes the importance of taking action before seeing your idea elsewhere. In the video, he shares 10 things to consider, such as how to bring your idea to market, whether to venture or manufacture it yourself, and the entrepreneurial path. Key also mentions the option of ordering from China and selling on Amazon. Ultimately, he encourages viewers to consider their goals and preferences when deciding how to proceed with their product idea.