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286
[00:00:45] Hi everybody. If you are watching on the video stream of this episode, and welcome to the Listening Stream. I’m April Beach and you are tuned in to the Sweet Life Entrepreneur podcast. This is episode number 286, and I [00:01:00] want you to know that there are a couple bonuses that are really powerful that go along with this episode to help you further implement what we are talking about here in this show.
[00:01:09] First and foremost, cruise over to licensing launchpad.com. It is our newest training to get you to the starting gate. To package your intellectual property, package, your course, and really even understand the potential ahead of you that can be had through content licensing. It’s truly my pleasure to unlock the licensing world to you.
[00:01:33] Let me give you a little bit of a backstory. I started licensing my own online courses. Back in 2009, I absolutely had no clue what I was doing at the time, but since then, I’ve gone on to license my own trainings and programs to businesses in 13 different countries and coach other consultants and experts on how to do this as well for over a decade.
[00:01:57] And so this particular series that [00:02:00] we’re doing here on the show, And a lot of the focus of our show is helping you establish coaches, consultants, experts, scale your business, and I wanna introduce you to this world of licensing your course or training or method or process. And so in this particular episode, we’re actually just talking about the benefits of licensing.
[00:02:19] I want to help you to understand whether or not this is something that it’s a good idea for you. If you’ve been listening to me for any period of time, you know that I am a lifestyle entrepreneur. What does that mean? It means I’m a life first entrepreneur. It means that just because there’s a great business model doesn’t mean it’s a great business model for me, and I believe that for you as well.
[00:02:40] And so I wanna introduce you to the option of licensing. Just like we’ve introduced you to the option of creating courses and doing masterminds and doing MRIs and doing memberships and doing V I P days. We talk a lot about building million dollar programs and million dollar offer suite [00:03:00] ecosystems here on this show because that’s what we do.
[00:03:03] At the Sweet Life Company, we help establish coaches, consultants, speakers, authors, and experts, extract your genius and build your million dollar product ecosystem. But how you release your programs, whether it is through a group coaching program, whether you are consulting individuals or individual companies, whether you dive into the opportunity to license your training or program, that’s up to you.
[00:03:28] My job here is to open up the options for you so that you can make the best decisions for. For yourself. So welcome to the show. If you’ve ever listened to us before, if you’ve never listened to us before, it’s so great to be connected with you. So couple of resources we have. First of all, go over to licensing launchpad.com.
[00:03:46] It is a really powerful like 45 minute five part video training. I know you’re a busy C E O. You can plow through it and get a massive amount of information. We’re even giving you the entire cheat sheet of what the top 10 [00:04:00] industries are buying right now in terms of programs just like yours. So go to licensing launchpad.com to grab that and for all the show notes, if you wanna apply to work with us or join any of our other workshops or masterclass, you can cruise over to SweetLifeCo.com.
[00:04:16] This is episode number 286. Okay, so let’s talk about actually who this is for. So it’s for those of you guys who are established and you want to understand the steps to successfully. License your courses, trainings, and the opportunities ahead of you. So we’re gonna actually dive into the process of the benefits of licensing and it is really, really important because again, I want to open up the opportunity for you to understand whether or not this is actually something that is, is a good use of your time, resources, and your brain power.
[00:04:59] All right, let’s go [00:05:00] ahead and dive right on in. Let’s talk about the benefits of licensing, but let me start with a basic description. If you actually don’t even know what licensing is, so licensing is like taking your course or your training, your material, your framework, your process of getting people results and renting it to other companies.
[00:05:19] Okay? So when we say sell your course to other companies, we actually don’t mean selling it. Selling it would mean they own all the rights. And all the interest to your intellectual property. When we license it, it’s like renting it. So it’s allowing other companies to use your intellectual property, your genius that you’ve created in the form that you have created in.
[00:05:43] For their own benefits. Now, let’s talk about the form that you have created in. It could be a totally done course. Maybe it’s a course you haven’t even built yet. But if you have a proven process, method, or framework that you’ve been teaching that you know gets people results, that’s of interest to other companies because [00:06:00] other companies don’t want to take the time and spend the money on the resources to develop a solution for something they can just frankly license from you.
[00:06:10] And so it’s beneficial to them and it’s beneficial for you, so it doesn’t even have to be a co totally completed course. Here are the two prerequisites that we love to tell people. You have to be good at what you do. We don’t wanna license out a program that, you know, you’re just kind of winging it. So we need to make sure you’re established.
[00:06:27] You are very well versed in, and the second thing is that you have gotten people results using this method, framework, or training before in another capacity. So you’re an established business. You’ve been using this process, even if it’s in another delivery method to get people results, and you deliver predictable results with the amazing framework in IP and training or course that you have created.
[00:06:51] That’s the prerequisite here. So what we’re talking about is why would you wanna do this? What is the benefit to this? And, and as I mentioned, [00:07:00] I, I value time over money and I want any time that you put into your business to give you the outcome that you want. Obviously a great financial outcome is fantastic too, but I have to admit, I’m also the girl that would love to like camp with a campfire and van life and just.
[00:07:19] Surf all day, and I would probably be just as happy barefoot on the beach with no money in my pocket. I say the word probably, I really do like having money, but Sounds good. So whatever that is for you, I wanna honor that. If we’re talking about the benefits of licensing, so you get paid up front. So in the past, In the marketing online business space, right?
[00:07:40] When we’re doing this launch mode, we wanna reach so many people in order to convert your sales at a certain rate. So let’s say we want a hundred people on your webinar to try to convert it at, you know, over 50%. So we don’t have to do that. We have licensing. You sell it once to one buyer, but you sell more seats with it so you [00:08:00] get paid up front.
[00:08:00] So benefit number one is taking that same training that you’ve already created and instead of having to sell it, A hundred times. You get to sell it once and go back and listen to the last week’s episode where I broke down the steps to get started where I talk about turning a $99 course into a $99,000 sale without changing the course at all.
[00:08:20] Okay? Today I just really want to unpack whether or not this is a great option for you to move forward. Number two, it helps you to expand fast. So if you want to. Grow quickly. If you wanna reach more people, grow your business seriously faster than you ever thought possible. Especially if you are a small micro entrepreneur.
[00:08:41] I mean, that’s what I’m called. We have less than seven people on our team. We aren’t even like categorized as a small business. We’re like micros sized businesses. If you’re like us and you wanna grow fast, licensing is a great way to do it because we can scale people, okay? We scale your. Reach, we [00:09:00] scale your people, meaning we don’t need more people.
[00:09:02] Actually did an episode a few episodes a ago called The difference between Growth and scaling. Growth is where we spend more to make more. Scaling is where we don’t spend more to make more. Licensing is a straight scale play. And it’s super powerful because of that. So benefit number two is if you wanna expand your business fast licensing is a great opportunity for you.
[00:09:23] Number three, it’s gonna save you time and money. Okay? So you don’t need a bunch of extra people, you don’t need extra staff members, you don’t have to hire sales closers, you don’t have to, you know, hire people to do all these different things. We can actually build systems within the teams. You already have the process of.
[00:09:43] Selling and actually delivering your license programs is so much more simple when we just do it to one buyer. All right? So the nu the third benefit is saving you time and saving you money and saving you teams, and it’s really powerful. The fourth [00:10:00] benefit to licensing is absolute non-stop promotion.
[00:10:03] Okay? So imagine this, you are playing with your kids at the park, or you are at a movie with your significant other, or your traveling or wherever. In the meantime, there’s hundreds, maybe thousands of people accessing your training in your program. You’re just hands off. It is absolute madness in the best way.
[00:10:24] Okay, so it’s nonstop promotion for you because your licensees are continuing to promote it, whether it’s internally to their teams or externally, because they may be using your training or program as something they’re delivering that could be even client facing. They’re gonna keep promoting it for you because.
[00:10:43] They invested in it and they wanted to work great. So it actually takes you outta the place of needing to. Even market it from a client standpoint, out, out, out to the world. It’s an incredibly powerful thing, especially for people like me that frankly [00:11:00] I don’t, I don’t love social media and I don’t wanna hang out there all day.
[00:11:03] And so if you’re like me, I. Then licensing is a good opportunity for you. Number five, it’s gonna scale your revenue. Okay? This is seriously, again, go back to last week’s episode where we talked about taking a $99 course into selling it for 99,000. The important thing that you need to understand is that in most cases, we don’t have to change the training at all.
[00:11:24] We don’t change the product, we change the buyer. So you’re going from selling it to a hundred people. For $1 amount goal to selling it to one company for that same dollar amount goal, if not more. So when we talk about scaling your revenue, there is nothing that I have experienced. I’ve been an entrepreneur my whole life.
[00:11:47] I’ve been coaching. Coaches for 27 years. Okay, let, let’s sink in. You’re right, it’s swear I don’t look old enough to be doing that, but I started when I was 20 years old, coaching [00:12:00] coaches. Okay, so I want you to understand that never even being a pioneer in the online coaching space has I. Have I ever experienced a way to scale your genius as FAST is releasing your program or training through licensing and.
[00:12:17] Again, I have personally done this myself. Um, number six, it really levels up your brand, so it’s gonna level up your thought leadership in your space. Even if you wanna keep selling your training directly and give different people an opportunity to license it as well, it’s gonna level up your brand. Not only within that B2B space, but it’s also gonna level up your thought leadership and your leadership and your niche, um, even to your established clients.
[00:12:45] So even if they aren’t the ones that are licensing it, I, I would literally have clients say to me, oh my gosh, really? Other companies license your content. And it just levels up their trust and confidence in, in my consulting with them. And it’s gonna do the [00:13:00] same thing for you. So really levels up your brand and your recognition and your thought leadership in your space.
[00:13:06] Number seven, licensing is usually a very fast setup. So again, you don’t have to think of all the things you’ve probably been working really hard to do. Online funnels, online marketing, webinars, live virtual events, challenges, summits, ads, all these other things. When it comes to licensing, we sell them very differently.
[00:13:29] The sale of licens programs is very, very simple. And it doesn’t require fancy funnels or a ton of automation and all of these things that frankly, most experts don’t come outta the box. Knowing you guys and me when I first started, you know, we’re experts in the thing we do. It doesn’t mean that I’m an expert funnel builder.
[00:13:55] I feel, I feel like I am now because I learned how to over the [00:14:00] years, but man, Imagine if you could avoid all of that, or you didn’t have to pay the money to have somebody to build all that out for you. So it’s a really fast setup about packaging your content and actually getting it released to license super fast setup.
[00:14:14] It’s not as complicated as it as it may seem. It’s actually so simple that I, I think that some of our clients even just like. Have trouble wrapping their head around the fact, like, wow, okay. That’s what I do. Like I, I, I need to meet with them and, and present my program and listen to what they need and tell them how I can solve their problem and sign a contract and take my money.
[00:14:35] Mm-hmm. Yeah. It’s that simple. Okay. Number. Eight. I’m gonna keep track. I’m look at my notes here for you. Number eight is reoccurring revenue. So it’s ultimate passive income when you license your product and there’s usually a licensed term, so there is a renewal fee. It’s an amazing thing. So you’re not only getting the upfront money for licensing, you may even be [00:15:00] getting residuals.
[00:15:02] So what I mean by that is you may even be getting commissions and percentage of sales on when other people sell your programs. That’s a whole nother episode. We’re not diving into that right now, but they’re a reoccurring fees for your renewals. So on top of the initial fee, they’re gonna pay you when that renewal comes up as well.
[00:15:22] If obviously you’ve created a a great program, they wanna bring it back again, especially if they’ve worked hard to market that program as part of their business. Number nine, stay with me here. Uh, you can find great partners. So if you want to open the door to other levels of personal branding, personal leadership.
[00:15:43] Say you wanna write a book or you want to start speaking on stages, or you wanna build affiliate relationships for other parts of your company. Licensing is an amazing way to do it. It helps you find amazing great partners where you can collaborate with them. I’m a big advocate. I believe that the [00:16:00] future of business is collaboration and linking arms with other businesses that you serve the same audience or you serve the same mission or you serve the same purpose.
[00:16:09] I, I really, truly believe that is the future and the strength of where we’re going in the world of online business. And so licensing is a really, Important way to be able to step in to that, to have something valuable to give, and of course to be able to create, amazing, powerful relationships with other businesses that are like-minded.
[00:16:29] Number 10, licensing. You get to use what you already have. If you created a course or a training, like pretty much everybody and their cousin has done, especially since Covid, maybe that coarser training is collecting dust on a shelf. Okay, If it’s sitting there and you thought you were gonna sell it, and then you’re like, oh my gosh, this is for the birds.
[00:16:52] But you’re an expert in your space and you’ve worked so hard. If you’re like me, you probably have. Stacks and stacks of trainings. [00:17:00] At one point in time, we had 56 online courses that were Evergreen courses. All right? So if you’ve been doing what you’ve been doing, you have things that are just sitting there collecting dust.
[00:17:10] Licensing is beautiful because we can take what you have already created and make a lot of money for you off of it. Number 11, you actually get to work less with your operations, with your delivery and your management in most simple licensed terms. When you, it’s like. Set it and forget it. It actually reminds me of like the good old days of the first like wave of on online evergreen courses where y we would like actually set them and forget them.
[00:17:36] This is like 2012, 2013 people would enroll and you’d click a button, you’d put it for sale. You’d have hundreds of people come in there and it was like a dream come true. Uh, courses don’t do that anymore in most cases, by the way, you guys, that that’s very 10 years ago. Um, but licensing does because. It’s not like you’re just forgetting it.
[00:17:56] There’s some company that’s actively continuing to take it [00:18:00] from you. It’s like a relay race. They’re taking the baton and they’re running it around the track with their teams to all of their people. What does that mean for you? It means you have very little operational overhead, very little team overhead.
[00:18:13] You want to make sure that you are validating that everything is going as contracted term. And you wanna provide support to your licensees. Some of your licensees may ask you to add consulting, coaching, actually live support in addition to licensing your program. That’s another episode. We’re not talking about that right now.
[00:18:34] It’s just straight licensing agreement is really less work, less operational costs, less management management for you. And so it’s less overhead, more profit, and more lifestyle freedom. And then number 12, and I’m gonna recap all these, number 12 is that you actually get to reach more people if you have created a process and a method that you are really passionate about, maybe it’s your life, li Life’s work.
[00:18:58] Like some of our clients, there [00:19:00] are programs that we partner with them to license. We help, we teach them to help them license. It is literally their life’s work, you guys. And if that’s like you, You’re just one person and there is a line between where is the quality of life for you and where is the expansion of your reach, right?
[00:19:19] You may find, oh my gosh, I could get this work and this important process, life changing, business changing process into the hands of more people. If I only had more time, team resources and money, well, licensing is how we do that. So imagine taking this work that you. Truly are an expert in that you created that you can do and deliver and teach in a way that nobody else can in getting it in the hands of so many more people and businesses to do good things in the world.
[00:19:49] That is what licensing does. And so it might sound complicated, but trust me, it’s not as industry leading coaches that teach. Other leaders how to [00:20:00] license their content. I can tell you every single business comes into me and they’re like, oh my gosh, I don’t know what I don’t know. This seems so scary.
[00:20:07] This seems like so big. It is not, it’s, it’s actually so simple. It just absolutely blows your mind at the process of all of the things that are complicated, all of the letters, we strip out everything and we go back to business basics in delivering programs to give great results and allowing other companies to benefit from that.
[00:20:28] That is licensing. So let me go over those benefits. And I want you to identify to yourself which one is the most important for you. And once you, oh, I’m gonna list them. Once you identify the most important one, I just want you to ask yourself, how important is this to me? How important is this to me to solve right now?
[00:20:49] Is this part of our primary strategic objective as a company for for this year? Okay. And that will help you kind of stay grounded in this. This is not [00:21:00] one of those shiny object episodes that I want you to go chase. I don’t ever want you chasing any of those shiny objects. There’s so many distractions when it comes to how you can build your business.
[00:21:10] I’m here to give you the options. I’m here to open up the opportunities for you, for you to choose. And so I’m gonna go through this list of 12, and after I go through this list, I want you to pick the number one most important thing to you. And then you ask yourself, how important is it to fix? And how fast do we want to have this as a benefit to our company?
[00:21:31] Okay, so here we go. Number one benefit. Getting paid upfront and early.
[00:21:35] Number two, expanding your business and your reach and helping more people faster.
[00:21:41] Number three, it’s gonna save you time and money.
[00:21:44] Number four, it’s nonstop promotion for your company.
[00:21:49] Number five, it’s scaling your revenue. Okay. Massive revenue increase through scalability.
[00:21:56] Number six, it’s leveling up your brand in the recognition of [00:22:00] your thought leadership and your brand in your space.
[00:22:02] Number seven, it’s a quick setup. It’s quick to build and package and sell.
[00:22:07] Number eight, you have reoccurring revenue for years to come.
[00:22:12] Number nine, you get to find great partners and other businesses to collaborate with.
[00:22:18] Number 10, you get to use what you have already created without having to start from scratch.
[00:22:24] Number 11, it’s less work, less operations, and less management for you.
[00:22:29] In number 12, you get to reach more people with the genius that God has given you or whatever you believe to do more good in the world.
[00:22:37] Those are the 12 benefits of licensing. There are so many more, but those are the 12, and I wanna be respectful of your time, so I frankly I just cut it at 12. Now, what’s that number one? What was that first thing that was most important for you? I want you to again, ask yourself, how quickly do we want to solve this?
[00:22:54] How important is this to my business, my bottom line, my team, and my life? Okay. [00:23:00] Once you decide that, then you can decide how quickly you wanna move forward into this. We do have a resource for you. We have tons of resources on licensing. First of all, you can go to our website and you can find licensing playlists from the podcast here, licensing articles.
[00:23:15] I have a huge licensing 1 0 1 foundation video training you can watch, and we have our newest training called Licensing Launchpad, which actually takes you through the step-by-step process to move into licensing. That’s also the one that has all of the cheat sheets of what companies are buying right now.
[00:23:34] So we’re gonna drop all the resources here for you. If you’re really ready to move forward fast, you can always apply to work with us and join our licensing accelerator where we give you everything and of course all of the contracts and you get to team up with our, with legal and it’s just really fantastic.
[00:23:50] But this, the ball is in your court now, you know? You can’t unlearn what you’ve just learned. This is taking a program training method or framework that you’ve already [00:24:00] created and exponentially scaling it with less work in the than you’ve ever done before. If that’s what you want, then this is could be a great option for you.
[00:24:08] Okay. The resources, again, this is episode number 286, and so therefore, everything, all the show notes can be found by visiting sweet life co.com. Click on the podcast. This is episode number 286. We also talked about digging into licensing launchpad.com. So you can do that. And of course you can just text the word license to the number 8 0 5 2 5 4 0 8 8 0, and we’ll text you a link to all these resources as well.
[00:24:42] Or because I’ve given you way too many calls to action here. Totally. Don’t do this on your own podcast. I’ve given you way too many options. Just go to sweet life co.com and you can find all the resources. Under how to scale your reach through licensing there on the website. And if you’ve enjoyed this show, please [00:25:00] share it with a friend.
[00:25:00] This is really, it’s not new knowledge. Licensing is an old thing that’s been done for years, but so few people know about it. And it’s really my mission to help as many businesses like our clients and frankly like myself, scale their reach exponentially and actually, build a quality of life through expanding the use of your genius. All right, you guys have an awesome day. I’ll talk to you next week. Thank you so much for listening.