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Full Show Transcript:
287
[00:00:45] Hi everybody, and welcome back to the show. This is episode number 287 and we’re continuing our teachings and strategy and conversations on licensing. We’ve been diving in for the last couple of weeks on how to take the [00:01:00] programs you’ve already created, how to make more money with the trainings and frameworks and methods and systems and processes that you have already worked hard and invested your time and money to create into scale your reach and your profit.
[00:01:14] Absolutely exponentially blow you out of the water. Content licensing is a way to do it. It’s a way I’ve done it. I’ve licensed my courses and programs to businesses in 13 countries starting in 2009, and I’ve been teaching other entrepreneurs and experts to do it for over a decade. In fact, we have a complete licensing step-by-step project plan.
[00:01:34] And we work with our clients very personally, including giving them all of the contracts, all of this sales processes, and everything they need to license their program successfully. If you would like to apply to work with us, cruise over to sweetlifeco.com. Click on licensing and you can apply to work with us in Amplify.
[00:01:54] Amplify is our accelerator. We work with experts just like you to speed up the process [00:02:00] and get your content licensed to other companies as fast as possible so you can receive all the benefits that we talked about in last week’s episode 286.
[00:02:10] If you’re not really sure and you’re not totally ready to dive into licensing yet, maybe you came across this episode and you haven’t even heard of licensing before. We have a great starting place for you. It’s called Licensing launchpad. You can go to licensing launchpad.com. It is a short and powerful training that’s gonna take you for the, through the first three steps of licensing your program, understanding what you have, understanding the value of it, and we’re actually giving you an entire cheat sheet of what the top 10 industries are looking for right now in exact programs like yours. So you can grab that by going over to licensing launchpad.com.
[00:02:52] All right, so as I said, we’re talking about licensing. Let me give you a brief definition of what it is. Licensing is [00:03:00] like renting your programs, trainings, processes, methods, and frameworks to other companies to use. Okay, so a couple of things. Let me make sure that I am clarifying. Number one, it doesn’t have to be this totally done program. You don’t have to have a built in, have a bow on it in Kajabi or some other online portal somewhere. It can just be your outline of your process and your training from a group coaching program, from things that you’ve been doing with maybe other businesses or other people one-on-one.
[00:03:31] It doesn’t have to be an online course. It can absolutely be an online course, an online training, an established certification. There are so many things that we can license, but I want you, if you haven’t ever thought about this, to think about all the trainings and processes and programs that you’ve created that other companies can benefit from using, they may even be your competition. Licensing is a way where we can move you from B2C into b2b, and we can turn your competition into your [00:04:00] clients. It’s a beautiful thing in whatever your objective for licensing is. So I wanna let you know that that is the gist of what we’re talking about.
[00:04:08] We’re talking about renting it to other companies and renting it for two uses. Number one, they might wanna use it as an internal training for their teams. Maybe you’re a sales expert or a marketing expert. Maybe you’re a communication specialist and you teach teams how to communicate. Maybe you teach equity, diversity, and inclusion, and you can help HR departments.
[00:04:27] Maybe you just teach employees to think entrepreneurially. Okay, so we use them for internal benefits in leveling up of skills. We also love programs. We, I should say, companies also love programs that lend to the quality of life, lend to health and wellness. So if you teach meditation or weight loss, or how to reduce anxiety or how to communicate with your spouse, Those are also great programs to tee up for licensing, and companies are also looking for client [00:05:00] facing programs so they can actually sell with their own programs or augment their own programs, so hopefully that gets your wheels spinning.
[00:05:06] Again, we have so many resources for you wherever you’re at in this process, if you’re just learning about it. If you’ve been trying to work on this. Or if you’ve already had a company that’s approached you and want to license your content, you are absolutely in the right place and we are here to link arms with you and equip you. So again, go to sweetlifeco.com, click on the tab for licensing and all the resources for wherever you are are there.
[00:05:30] Now let’s go ahead and dive into the six steps to actually license your program. Now we have an entire project plan and obviously, Okay, this is like Captain obvious. There are numerous steps under these steps, but the purpose of this is to give you a high level understanding of the process of actually going through and identifying your content and actually releasing it for license.
[00:05:55] All right, so if you’re ready for that, again, this is episode number 287. All of the show [00:06:00] notes can also be found by visiting our website. Let’s dive in. Step number one is to do exactly like I had just explained in that intro. I want you to identify your unique intellectual property and what you already have to sell.
[00:06:14] This could be lessons, videos, quizzes, systems, processes, methods, SOPs. It could be short trainings, it could be written content, it could be an entire program. Many of our clients will license out an entire eight module program or a series of trainings or courses for other companies to use. What do you have that’s unique to you that has been proven to get people results in the past?
[00:06:47] That’s step number one. And with that, within step number one, I want you to ask yourself, what do I wanna do with my business future? The reason why I want you to ask this is because I want you to [00:07:00] understand how you wanna work with clients in the future. Are these things that you plan to still deliver directly through your own business?
[00:07:07] Or are you willing to totally give these away for exclusivity for another company to distribute? Guess what? You can do whatever you want. You can still license and them to other companies and continue to sell products on your own. There are some things we wanna talk about with that as far as ethics and integrity that we are not getting into, but you get to choose your own adventure.
[00:07:29] So step number one is identifying what you have. And it doesn’t have to be a big program, it can be a smaller training. And, and then step number two is identify what you want to be known for in the future and what you wanna do with that. That’s step number one. Step number two is you need to protect your ip.
[00:07:48] All right? We need to make sure that your intellectual property, your processes, your thoughts, everything is copyright protected, your trademark protected, and you wanna go through and make sure you’re getting the legal protection for [00:08:00] your course, for your trainings. It’s very important that we protect your content and we don’t wanna license your content until that is done.
[00:08:10] So step number two is making sure everything is buttoned up the way it should be to protect your ip. Step number three, you get to decide what I call the parameters of release. Okay. These are like your rules for how you wanna allow another company or an organization to share and distribute your materials, including how long do they get it for?
[00:08:34] How many people have access to it, what are the fees? Are you gonna collect royalties? What is the actual rule on the distribution of your training? Does a company have exclusivity to it or not? Is it branded or is it white labeled? Step number three is deciding what with this program or multiple programs, what the parameters are in, in what you’re okay with in [00:09:00] the distribution of it.
[00:09:01] And if you see the process I’m taking you through, you’re gonna get much more clarity on making the decisions in step number three, after you’ve decided in step one how, how much you wanna keep distributing this for yourself, right? If you wanna keep it exclusively in, you know, sell it also, then you’re gonna have tighter parameters on what you allow other companies to do.
[00:09:23] But if you are, like in one of my instances, I white label. The sky’s the limit. I let companies make as much money as they can off it because I no longer license those or sell those programs myself. Right, so you get to think about what you want for the future regarding a particular product or program that you’re considering as we go through this.
[00:09:45] So again, step number one, identify what you have and identify your long-term business goals. Step number two, make sure they’re protected and you’re covering your legal ars. Step number three is identifying the parameters around relief. Step number four is actually [00:10:00] selling it. So going out there promoting your course or training program to potential licensees in various marketing channels like networking, like speaking at events.
[00:10:11] Many of our clients, the primary way that is so powerful to sell is. Presenting and being a speaker in, in meeting with other businesses and being in masterminds and collaborating with other companies. So these industry specific events to create awareness and social marketing channels like LinkedIn.
[00:10:30] Also, I want you to identify that in this selling process that you have decided your parameters, which we talked about, and that’s what we call your licensing program out of the box. But with this being said, you can also choose that after you have a discussion with a potential buyer about your parameters that you may also want to consider.
[00:10:57] Altering some of it or adding some other [00:11:00] things to it to meet that company’s needs. So I’m always a big advocate of listening to what the company wants in terms of the solution that you deliver, understanding what their needs are and what the end of their results and mission is and what. That company is really looking for as far as a benefit from your program.
[00:11:19] And then you may be willing to be outside of the box, may be willing to edit some of your parameters to help them meet their needs. And then the third part of the selling is signing the agreement and collecting your money. So the sales process is totally different than the overkill of massive funnels and online marketing that you’re probably used to.
[00:11:39] It’s actually very simple. And so this process, after you’ve identified your parameters, you can choose if you wanna just sell it as it is, you’re not willing to do any edits or altering, or if you want to even increase the value of your program, maybe by adding some consulting or coaching with your licensed product as well.
[00:11:58] Step number, I’m going through my, [00:12:00] my list here. Step number five is actually onboarding and delivering your program. So you need to have a really great system for doing this, and I want you to think about going through the process of just creating a seamless system and communication channels. So when you give this program to another company to distribute, it is off and away like a bird flying away.
[00:12:20] You have your money, they are a happy company, and deciding whether or not you’re gonna continue to provide ongoing consulting or support. So step number five is the onboarding and delivery of your program. If your program is still housed in your L M S, so if you have your program still in your kajabi and you’re licensing it, but you’re still housing it, or if they are completely taking it and distributing it in their own channels, that is gonna change your step number five delivery method.
[00:12:52] And then step number six is compliance and monitoring. Okay, so each of you have a different brand integrity and [00:13:00] you may find that you wanna update your materials, you may wanna add to it. And so compliance or updating or continuing to provide them with, with marketing support and marketing, swipe copy, those are all things that fit into step number six, as well as renewing the license agreement for ongoing.
[00:13:19] Opportunities for you to make more money. So let me go through these five steps of actually licensing and releasing your program. Excuse me, six steps. We usually have more, but I really wanna simplify this here for you. Step number one is identifying what you have in order to, align with your future.
[00:13:41] Step number two is protecting your ideas, making sure that your legal abduction in a row. Step number three is deciding the parameters of release. How long did they get it for? Is it exclusive? Where does it live? Like is it in your LMS or their lms? What is the branding? Are you taking royalties? All of those things are actually seven different [00:14:00] levers, so we work with our clients to determine the pricing.
[00:14:03] Step number three for you here is just understanding. What that kind of outside of the box program is that you wanna start with in the parameters of that. Step number four is selling it, promoting it, connecting with people, signing the contract, and being willing to maybe even listen if they want you to add coaching or consulting on top of that and adding it to, to another agreement where you can support this company.
[00:14:24] And then step number five is the actual delivery and onboarding, which will be dictated by where the program lives in step number six or renewals in continuing to support the clients as far as getting them to resign the license agreement. But also you are gonna wanna make sure that you have any sort of check points in place if you need to update the content for any sort of reason.
[00:14:49] And this is actually a very simple process, especially if you already have established trainings and programs that you have created before. It seems a [00:15:00] little overwhelming because I, I know you haven’t been here before. I know you haven’t done this before and that’s why you’re here listening to me and watching me talk with my hands on the video.
[00:15:12] I have done this before, but I’ve also been in the place where I did it the first time and I had no freaking clue what I was doing. I know what it feels like to be on the other end of a sales call with a corporation that wants to license your material and feel like you’re a total fish out of the water and that you don’t deserve to be there.
[00:15:33] But I figured that out and I created a step-by-step process that I’ve been teaching for over a decade. Companies like you, and I’m telling you as a girl that did not receive a college degree, okay, that has lived on my own since I was 13, who has started over seven different companies, never having any idea what I was doing with any of them.
[00:15:56] I am telling you that if I can do this, You [00:16:00] can do this, I promise you that process is not that difficult and companies are out there right now looking for programs like yours to help increase the skills in the systems, in the sales, and even provide SOPs that provide seamless scalability to increase time and also to pour into their clients for benefits and lifestyle and wellness.
[00:16:27] As well as they’re constantly looking for programs to augment their other forward facing programs. An example of that is if you are a marketing expert and there’s a branding company out there that might not be as great at teaching video marketing as you are. Great. They’re the first ones to reach out to license your expert.
[00:16:48] How to make great marketing videos to a branding agency that isn’t an expert at that. It’s in their benefit. And I want you to hear me on this because this is a mindset shift. It [00:17:00] is in a company’s benefit to pay you for what you’ve created over taking the time and spending the money to try to create it themself.
[00:17:10] Okay. Especially if you are licensing to smaller established businesses and, and these are businesses with under a hundred employees, right? They don’t want to spend the time to try to, to have an employee be leveled up on something to create an expert training that they could never compete with. Your area of expertise on that.
[00:17:29] They want yours and it’s a smart business decision for them to get yours. And so don’t think that maybe you haven’t done this before and you can’t do this. This is a simple process. We’ve introduced you to the first six steps here, very high level, and I would obviously love to invite you to dive in more.
[00:17:47] I, this has personally changed my life. When I had a company approach me to license my courses, I literally had three little boys, my ba, my three baby boys working from home, which I [00:18:00] still work from home. They were around my ankles. I had no childcare. I had an international business consulting firm at the time, and I was working my ass off.
[00:18:10] And a company approached me because they wanted my courses, they wanted my content and they wanted me to consult them. And this wasn’t a little company. This was a huge healthcare corporation. And I remember feeling like, wow, I’m so, I can’t believe I’m here. But I also remember realizing. Wow. They really want this because it’s something that they could never recreate the way that I have done it on my own for them, and it’s in their benefit to pay me.
[00:18:40] To take what I’ve done to make themselves look better, be more efficient, make more money, and in this case, you know, lead, lead in the marketing race that they, that they were trying to lead in in that particular case way back when. So I wanna encourage you that they’re out there looking for your program.
[00:18:58] Right now, whether [00:19:00] it’s client facing or internal, whether it is something that can be measured through increase in sales, or it’s something that it’s kind of tough to measure through reducing anxiety or helping people sleep better. I promise you that your genius is more valuable than you have even tapped into yet, and this is the place for you to start.
[00:19:22] We are so happy to be able to support you in this. So to move forward and actually work on implementing, like I said, we have a ton of resources for you. You can cruise over to sweet life co.com. And click on licensing. You can get started just at the beginning with our licensing launchpad. You can listen to our free licensing Foundations video.
[00:19:43] You can take one of our workshops, which is a live workshop where I get to work with you, or you can join our accelerator where you get all of our project plans, including our license contract, which I paid $14,000 for way back when. We just give it all to our clients. [00:20:00] So whatever you are looking for, we would love to be that go-to place that you trust, and it is such a reward for me to be able to see you guys.
[00:20:08] Actually reach exponential, like massive explosion with your genius because frankly, we, we work with companies that you guys really care about what you do, and you’re really interested in impacting companies and people with your good work, and that’s what this is all about.
[00:20:28] All right, I’m gonna wrap this up. Almost to 20 minutes here. This is episode number 287. Thank you for listening to this podcast we’ve been producing for over six years. If this benefited you, bless you, please share this. I have refused advertisers forever. I hate freaking advertising on podcasts, so we really rely on our listeners to share this episode and I would really appreciate it if you did that.
[00:20:51] Okay. You guys have an awesome. Day, thanks for being here, and I look forward to hearing from you and how we can support you in the future. Bye-bye for now.[00:21:00]