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Full Show Transcript:
[00:00:47] Hi there and welcome back to another episode here on the SweetLife Entrepreneur and Business Podcast. This is episode number 310 and I’m April Beach, your host, friend, business mentor, business strategist. And I am really excited about this episode today because like all of our episodes are really business strategies and trainings that other coaches will charge you thousands for.
[00:01:09] But this particular training, I know you guys need, I’ve received the LinkedIn messages. I have received emails from you and from all the phone calls I’ve had for those of you guys who are interested in getting into licensing your trainings. But, but, but, here’s the big but, but you don’t have a ton of time and you don’t necessarily have a massive amount of bandwidth and you probably have a bunch of other projects you’re working on right now.
[00:01:37] So you’re interested in getting into licensing, but you’re not ready to change your entire business model. I hear you. As a matter of fact, when I first started licensing, what I’m going to talk about here on this episode, This is how I started. I started small, but powerful, small, but mighty. And that’s what we’re unpacking here on this show.
[00:01:59] On this show, I’m going to unpack three different easy licensing offers that you can get into that are super simple and that are going to set you up to grow and succeed with licensing moving forward based on your capacity and where you are right now. So this is episode number 310. You can find all the show notes, all the resources we’re going to give you over at SweetLifeCo.
[00:02:22] com. Simply click on the podcast episode number 310. And then also if you want to dive in and you want me to work with you on the things that we’re talking about on this show and build your first easy licensing offer, make sure to join us. in license to scale. That’s license. The number two, the word scale.
[00:02:43] com. You can join our workshop. We’re actually hosting two different events here in the month of October, November, the month of November, 2023 local here at our entrepreneur lab in Boulder, Colorado and online worldwide as well. So cruise over to license to scale. com register. And I’m going to hang out with you and we’re having a great time.
[00:03:05] quick grab licensing offer to gather. Don’t miss that because I only host that live workshop a couple of times a year. Now let’s go into diving into the overview of all of these different possibilities and the three different quick type of licensing offers so that you can scale in this way that is not overwhelming and it’s going to be a really lucrative way for you to grow your business.
[00:03:28] All right, let’s do it. Okay. First things first, let’s talk about what is licensing. If you aren’t familiar with it again, go back and listen to all of our other podcast episodes on how to license basic of licensing. We have so many resources. It was just blow your mind, but let me give you the nitty gritty here as you need to know it for this particular episode.
[00:03:48] Licensing is like giving another company permission to distribute your trainings, your content, your steps of service, your genius, your frameworks that you have been coaching or consulting other people or even other businesses on for some time. Licensing is where we take your process, whether it’s built into a course or not, that we know works and we allow other companies to share it either internally with our own staff or Externally as part of their offers.
[00:04:21] And so licensing is a really powerful way to scale your business instead of selling individually. Even if you’re doing launches for your programs where you know you’re selling everybody at once. What this allows us to do is sell it to one person. But they’re going to allow more seats to access it. And so therefore you get one sale for more money.
[00:04:42] That’s what licensing is. We have clients that close huge licensing deals. As a matter of fact, I had a client just last month who turned a 6, 000 workshop into a 298, 000 licensing training that she licensed to a company and it only took her a month to do that. So this is a really lucrative way. But let’s say that you, aren’t really ready to get into the sales process to close a 300, 000 or a half a million or even a million dollar deal, which I’ll be honest, closing those licensing deals takes longer than the ones we’re talking about here on this episode, but you want to get started with licensing.
[00:05:19] So what we’re going to do is we’re going to unpack three easy licensing offers that will increase your profits, but they don’t require all this sales time and effort. And let’s kind of start out with a little backstory about this. When I first got into licensing, this is how I did it. As a matter of fact, I did a lot of these things that we’re going to talk about here.
[00:05:41] This was before I closed my first big licensing deal with a corporation. I had been working on these little licensing offers for a few years leading up to, frankly, having the confidence. and the understanding to be able to go in and close my first huge corporate deal. So you can get started with this like I did, but you don’t have to figure it out from scratch like I did.
[00:06:05] You have me. So here you go. Let’s talk about this. So again, if you have a training or a program, And it is, it could even be one little module of a course, or maybe it’s a process that you’ve built out. When we’re talking about licensing, we’re talking about taking it from you having to be the one to sell and deliver it to an individual to allowing another company to take it and distribute it for you.
[00:06:30] And it’s really a great way to scale your business and expand the reach of your work. When we allow other companies to just. Pick up the flag and carry it, and you get to make the money from that. Also, what’s really powerful about licensing is it levels up your thought leadership in your space. And so the three little easy, quick licensing offers we’re going to talk about today, you don’t have to lose the B to C side of your business.
[00:06:57] You don’t have to fully go into licensing to do these little offers. So you can dip your toes into it. You’re going to get totally addicted, but you can dip your toes into it and see what this is all about. So let’s go ahead and dive into these three easy offers that will increase your profit. With little sales time and effort.
[00:07:17] Now, number one is teaming up with your network. We know how important and powerful our network is. If you haven’t been spending time building relationships with your network, that is one area of sweat equity that I highly recommend you do in your network. There are other businesses. that might not be exactly like you.
[00:07:36] They may not do exactly what you do, but they have programs or services or products that reach your same audience. So the first quick, easy licensing offer is teaming up with your networks and offering one course or one module, maybe from a whole course or training that you have. And allowing that other entrepreneur that’s in your network to add it to their current offer or program.
[00:08:04] So you’re not losing it. You probably still release it and sell it yourself. But you’re taking one little piece and you’re augmenting their existing services with your one little piece. So I want you to be thinking about, first of all, who is in your network? What other businesses or specialists in your network reach your same clients?
[00:08:24] And ideally, here’s, here’s the expert advanced move I want you to be thinking about. I want you to be thinking about businesses that are working with your clients, usually prior to when your client will be needing your full service. This is especially important if you’re still keeping that B2C side of your business so they can get a little taste of how amazing you are through somebody else’s program, and then they want to move over and work with you.
[00:08:51] So. What is this concept? How do you do this? Number one, I want you to think of who is in your network that also serves your clients. What are their type of businesses or programs? Number two, I want you to look at your content and I want you to think about what sort of training or module and we’re talking micro guys like it doesn’t have to be this big, huge thing.
[00:09:09] What sort of small video series or one video or one worksheet or one process would be helpful to allow your network to include in what they’re already doing that would be beneficial for the end user. And then the last part of that is I want you to think about who in your network works, and that’s the advanced move.
[00:09:28] Not just anybody. I really want you to build relationships strategically because our time is more valuable than money. And so who in your network is actually working with your clients usually prior to when your clients are either looking for you or ready for your type of services. And then I want you to reach out to them, connect with them.
[00:09:46] And the conversation goes something like this, super simple, Hey, listen, I love what you’re doing. I value that. I know that our areas of strength really compliment each other. And I would love to talk about how some of my content may be able to be added to your program and augment it so that we can work together as a team.
[00:10:06] So that is way. Number one. doesn’t require huge sales processes. It’s really connecting with other people, taking part of your content and putting it into other people’s programs. Yes, you get paid for that. The financial arrangement can be as simple as a percentage of sales, or it can be a bulk payment upfront.
[00:10:25] As a matter of fact, I’m thinking right now, I have a client that we’re working on right now doing this exact same thing. And she has a training in a program where we want to take a company’s program and the other. Other company has actually offered her a flat fee up front or a lower flat fee up front with long term residuals.
[00:10:46] The decision is totally up to her, just like the decision is totally up to you. It depends on the value and how this particular licensing offer is fitting into your ongoing cashflow. I don’t know. Personally, I love having ongoing cashflow and residuals that I forgot was coming in. And all of a sudden I look at my bank account and there’s a royalty in there.
[00:11:05] But you may want a bigger chunk up front. So easy way number one is teaming up with your network and finding what you can add to their programs. It’s going to be good for you and good for them. It’s an awesome way to go about doing it. It takes very little effort, very little time, and it’s super. Easy.
[00:11:25] Frankly, exactly what we’re talking about here today. Number two. This is one I get a lot of buzz about. So people message me on LinkedIn when I say these words, they love it when I talk about this. So see if you geek out on this too. It is turning your competition into your clients. It’s kind of cool, huh?
[00:11:44] It sounds pretty sexy, huh? Well, this is the way it works. And I, and I did this as well. So when you have other coaches that are doing the same thing or consultants or subject matter experts or strategists, basically they’re just like you, they’re literally your competition in your space. And you, however, have a great established Training or program.
[00:12:07] It doesn’t even have to be huge. It can just be one part of a module, just like that networking collab we talked about before, or it can be a complete training. And let’s say that maybe you don’t want to sell these anymore. Have you grown out of selling some of your trainings? at one point in time, we have 56 online courses that you guys, I don’t even sell anymore.
[00:12:27] And we are starting to release these to other business coaches to license because it just doesn’t fit into where we’re going. And frankly, what we’re talking about as a company. But there are great programs. They’ve gotten people results for years and years. So other business coaches who you could consider my competition are starting to license those for me because I’m not selling them anymore.
[00:12:51] See how that works. So what do you have that you’re either? No longer selling, uh, or it’s not really part of your future growth plan. You can take this training and you can turn your competition into your clients by licensing your particular training to them. And this is super simple. As a matter of fact, I still do this in one of my other companies, and how it works is I literally have a brochure of trainings that people can download.
[00:13:23] They can see the description of the training, get a sample of the training, and if they want it, they literally go online and actually purchase the classes that they want, sign my licensing agreement, and the whole thing is transferred to them to use within the terms that I have set. I don’t even talk to them on the phone, you guys.
[00:13:42] It is a fast sale. It’s a fast deal and they’re out the door. So that is number two. And I will add the benefit to this is two years later, they show back up to pay me more money to renew their license of my trainings. It is a beautiful thing for everybody. So that is way number two. It’s actually turning your competition into your clients by taking trainings and programs that you’re just not really selling, not really pushing, or they aren’t part of your future.
[00:14:10] Maybe thought leadership agenda in the book you’re writing and all the other. Fancy dancy things that you want to do in the future, but they’re great and they’re just sitting there. How many trainings and programs have you already created that are just sitting there collecting dust on the shelf? This option is for you.
[00:14:28] So so far we’ve talked about networking and adding a small piece of your program to another outside businesses training. Now we’ve talked about turning your competition into your clients. And it’s a beautiful thing. And then the third way is this. I also did all of these. The third way is actually growing your team.
[00:14:49] This may seem a little bit more complicated when I explained it, but I assure you it is very, very simple. So this is allowing other coaches. consultants, uh, subject matter experts, however you identify yourself, allowing others just like you to operate under your trademark. Okay, let me explain this. It’s not a franchise, but it’s where you give them a license to operate under your trademark, where they can Have a page on your website that shares who they are, and then you give them access to your trainings to distribute.
[00:15:27] So you’re growing your team. This is a way to grow your team without you having to manage them, without them being employees, and they are licensees that have permission under the right framework to operate under your trademark and deliver your services. I did this. Okay. So let me explain this to you.
[00:15:47] How I did this. This was way back in 2006, 2007. I had a very busy parent coaching business and at the time I was literally totally booked with clients. I had three little kids at home and frankly I just didn’t feel like working more, uh, nor, nor honestly, I mean in those days I think I was still breastfeeding.
[00:16:07] I don’t think I could have worked more if I wanted to. But I was also coaching other businesses. So in the process of coaching other coaches, I came up with the idea of saying, Hey, listen, why don’t you just join my team? Why don’t I give you the ability to operate under my trademark? I can work less, the, the expanse, the name, the brand of my trademark grows, and I get to elevate my thought leadership.
[00:16:33] And let me tell you how simple this was. It was giving them permission and access to operate under my trademark, creating different sort of rules that they abided by to operate under my trademark. But I also gave them all of the services and the steps and the processes and the forms and the sheets. And I basically gave them an entire business in a box.
[00:16:54] And it was absolutely amazing. And within a year, my brand grew to offices in eight different states across the country so much that we received a ton of national media press and attention. So it seems super complicated. But it’s not. I didn’t feel like working anymore. And if you know a little bit about my history, this was a parent coaching business.
[00:17:17] I’m one of the creators of the baby planning, kind of parent coaching industry, but that’s not my background. I’ve always been a bit, I was a business coach for 10 years, even before I started doing that. So believe me, I couldn’t wait to get out of actually parent coaching. I was the one that wanted to have other people do that and I needed to get back into that place where I was helping other businesses grow.
[00:17:39] So I got to remove myself from the actual consulting side, which I really didn’t feel like doing anymore and move back into the business mentorship side while still growing my brand, expanding my trademark. and making money by allowing other parent coaches to use all of my good name and the brand that I had built and all the services and processes and trainings that I already had in place.
[00:18:05] It was great for them. And believe me, it was. Awesome for me. So these are three very simple type of licensing packaging offers that you can think about. And, you know, I know on LinkedIn and on this podcast, I’m usually I’m talking about the big corporate deals, right? In selling big training programs to, uh, the government or Veterans Affairs or the state of Colorado or, you know, Google, you know, we’re talking about these big programs that close for hundreds of thousands of dollars, but these ones that I just talked to you about.
[00:18:41] They’re easy. They’re fast to close. You are not going to make as much money on these each as if you’re selling and licensing your program to Google. We both know that, right? But it’s going to be one tenth of the time with one tenth of the work. And that’s why these easy licensing deals work. are so awesome, especially if you want to get into licensing, but you don’t have the capacity.
[00:19:05] Maybe you don’t even know if you want to go into full blown licensing of your programs to other corporations, or maybe you don’t know if you want to release your marketing training to a university. You can start here and it’s very, very simple. So let me recap those three different easy licensing offers for you.
[00:19:21] The first one was go to your network, take a piece of a training and add it to another program. So somebody else’s program in your network, again, ideally with a service that is prior to when somebody would need yours. Number two, you can turn your competition into your clients by taking the content and the trainings that you’re really no longer using and allowing your competition to distribute those.
[00:19:45] And then you can go on to build your next level programs, your next level offers, and maybe move into a next level direction. And then number three is just to simply license your trademark, just to simply license the ability for other coaches to operate under your trademark and access some of your materials.
[00:20:02] These are three very, very simple ways that you can scale your business with little effort. So how does that sound? I know it may seem new. All of these things are new to people and uh, that’s why I get so excited sharing them with you because everybody’s like, wow, their minds are blown when they hear about all these different options.
[00:20:25] But these are fast and easy ways where we can expand the reach of your work. And we can level up your thought leadership and we can increase your profit with very little effort. So that’s what we’re talking about today. What do you think? This has been episode 310 here on the SweetLife Entrepreneur Podcast.
[00:20:44] If you would love to dive in with me so I can build your first easy licensing offer with you, of course you can cruise over to license. The number two and the word scale. com register to join us online or in person this month, November 2023. If you’re listening to this later and you missed that just cruise over to SweetLife co.
[00:21:07] com and all of our licensing workshops and support resources will be there for you. All right. I love that you guys have tuned in. Thank you so much for hanging out with me on today’s show. I refuse advertisers. I have for six years, so if you don’t mind sharing this with your friend, we would greatly appreciate it.
[00:21:23] That’s how we get the word about the word out about what we’re doing here and I Have an awesome day.