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    What is Content Licensing? with April Beach (Episode 320)

    What is Content Licensing?
    Episode Bonus: Video on HOW TO LICENSE YOUR CONTENT TO SCALE YOUR BUSINESS & INCREASE PROFIT.  To watch visit https://licensing-tools.com/
     
     
    We’re starting a new series focused on the transformative power of content licensing – a strategy to scale your business, increase profits, and gain more free time. If you’re an established business owner adept in your field and curious about content licensing, this episode is specifically curated for you. However, if you’re new to the business world, I suggest revisiting our past episodes to build your foundational knowledge first.
     
    In this episode, we dive into the nitty-gritty of content licensing. What is it, exactly? How can it be a pivotal part of your business growth? I’m here to unpack these questions, offering clear insights and strategies. Content licensing isn’t just a concept; it’s a viable option for expanding your business reach. We’re going to discuss how leveraging the courses, trainings, and content you’ve already developed can open doors to new opportunities. Through real-life examples and case studies, you’ll see how content licensing has been a game-changer for many, including myself and my clients.
     
    Key Takeaways from Today’s Episode:
    1. Deep Dive into Content Licensing: Get a comprehensive understanding of what content licensing involves and how it can be a turning point for your business’s growth.
    2. Real Business Cases: Learn from stories and case studies that illustrate the successful application of content licensing in various businesses.
    3. Strategies for Scaling Up: Discover specific strategies for using content licensing to not only enhance profits but also to assert your expertise and thought leadership in your niche.
    4. For Whom It’s Meant: This episode is tailored for those looking to significantly upgrade their business operations. If you’re not yet at this stage, our previous content will be more suited to your current needs.
    5. Exclusive Insights and Tips: Benefit from the direct experiences and advice I share, grounded in proven success and practical application.
    In this episode, we’re talking about leveraging what you’ve already created to add value to other businesses and, in turn, to your own. It’s about understanding the strategic importance of content licensing and how it can radically change the way you do business. So, let’s get started on this exciting journey to unlocking the full potential of your content!
     
     
     
     
    For more about what we do and how you can work with us: www.sweetlifeco.com
     

    April Beach on LinkedIn

     

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    Full Show Transcript:

    320

    [00:00:50] Hey, you guys. Today we are starting a whole new series. series that we’re going to be diving into regarding the power of content licensing. That is how to license your courses, contents, trainings to scale your business, increase your profits, and actually also increase your free time. I’m so glad that you’re here.

    [00:01:06] If you are not an established business owner, this whole new series moving forward is based Probably a little bit too far ahead, a little bit too far advanced for you. Please pause and go back and binge all of our seven years of suite life entrepreneur podcast episodes. You can actually sort all of our episodes by topic on our website found at suite life code.

    [00:01:25] com to get what you need. Today we are diving into what is content licensing. So this is specifically for those of you who you’re very good at what you do and you want to scale your business and you’re wondering how or if content licensing is an option for you moving forward. So I’m going to unpack exactly what content licensing is for you so that you know if you want to keep moving forward with us.

    [00:01:49] In our strategy, in our show, in our content, and possibly in our consulting, if we can help you move in this direction at the end of this, you are going to be able to spin your wheels and say, wow, yes, I want to learn more. This is a really cool opportunity for me because content licensing is one of those things that is shh.

    [00:02:08] Nobody knows a lot about, and so I’m going to unpack actually what it is, and I’m going to share with you stories and case studies from myself and my clients over the course of podcast episodes in videos with you. So you can not only hear the strategy and understand the strategy, but see how the model of content licensing can work for your business.

    [00:02:30] These are all very short, compact videos and episodes that you can dive into and binge. And so let’s go ahead and dive right in. First of all, little disclaimer, I am not an attorney. And so you should definitely seek legal advice from an attorney for all of your legal contracting needs. The consulting and advice that I’m giving you here is for general educational purposes for you to use.

    [00:02:54] And I’m going to be sharing with you stories that you can apply to your business. Now with that being said, the things I’m sharing with you are absolutely strategic and they are proven and they work from a business strategy standpoint. So let’s go ahead and dive in. First of all, What actually is content licensing?

    [00:03:12] Content licensing is giving another company the ability to use or distribute your content. So it’s not selling it to them. You’re not giving them ownership of it. It’s like renting your content to another organization. And what does that actually look like for you? So if you are sitting on courses, trainings, content, content that you’ve created, Systems, methods, processes, frameworks, then you are in a prime position to allow other businesses to utilize it.

    [00:03:43] So picture this. How long did it take you to develop those processes and trainings and programs? How many years did you put into the development of your course? And how many thousands of hours did you put into establishing yourself potentially as an expert in your space? Other businesses, they don’t have the time or capacity.

    [00:04:05] And frankly, they’re smart enough to know that they don’t want to start from scratch. They don’t want to create something that you already have the solution to. So other companies are constantly looking for different opportunities to bring your trainings in to either. their employees, their staff, their users, and even to include in their own trainings and programs externally to their own clients is actually selling it as a separate product or selling it as a product suite.

    [00:04:35] So you’re probably familiar with music licensing and imagery licensing. You probably use pictures or you’ve licensed stock photography before, you know, here, It in the intro to our suite life entrepreneur podcast, there’s some music that we had to license to be able to use. That is pretty common. Most people are familiar with that, but what we do at the suite life company is totally different.

    [00:05:00] We help our clients actually license your intellectual property, the content in the processes and the trainings that you’ve created. And so that’s what content licensing is. And so this is a power packed episode just to open up the world of licensing to you. So when our clients hear about licensing, it usually comes across their plate in a few different ways.

    [00:05:23] Either a company approaches them and says, wow, you know, that was a really great talk or really great training or an individual, um, CEO of another company says, Oh my gosh, I want your training and our program for our clients. Those are usually the ways that people actually come into the world of licensing because it isn’t so widely known that most subject matter experts don’t go out there and go, Hmm, I think I’m going to just start licensing my stuff that I would say about 80 percent of our clients have actually entered the world of licensing because they’re so good at what they do and they have such great trainings that they have an audience that is asking for their content.

    [00:06:03] If you’ve ever been in a place. Where let’s say you have a partner, it’s another coach or another consultant, maybe somebody that runs masterminds or as somebody of a CEO of another company that says, wow, how much would it cost me to bring your training in, to use it for our clients? So most people in the coaching and consulting space consider that, Oh, well, it’s just a bonus to their training or, you know, I’m just gonna, I’m just going to add it in there and, and maybe generate leads from it.

    [00:06:32] But the technical term for that is licensing. That means you are giving them permission to actually rent and replay your content, to distribute your content within another program. And. Most businesses don’t have the right agreements in place for that because it’s like a spit in a handshake. And sure, I’ll give you a training to, to use as to use in your program.

    [00:06:51] And sometimes that’s totally fine. Especially if it’s just a one time thing, no big deal. But what I’m talking about here with content licensing is where we take your whole program or your whole course or a significant part of your course and actually allow other companies to add it and augment their current programs with it or to sell it as one of their own trainings And that’s when licensing really becomes a game changer.

    [00:07:18] Yes, you can absolutely do what a lot of my friends call embedded partnerships, where you just add a little piece of content into their training program, or you can take it to the next level and you can develop a licensing business model that you’re not just doing that with one business or one buddy and their program.

    [00:07:35] You are actually inserting your program into multiple training programs across the world. And that is the power of content licensing. And so my goal here in this podcast is just to open up the potential for you. First of all, so do you know the difference between licensing and selling? We are not selling.

    [00:07:57] You’re only giving somebody permission to rent and distribute your content per the terms of the agreement that you set forward. And then secondly, it is usually for a term that you can continue to offer renewals. And frankly, the goal of this is to expand the reach of your work. There’s no way, and we’re going to be talking about this in, in future episodes.

    [00:08:22] I’m asked, I’m answering all of your licensing questions here on the Suite Life Entrepreneur Podcast and on LinkedIn and YouTube. There’s no way you can actually expand the reach of your work to the point. With your marketing it yourself with your own teams. I don’t care how much money you have to put into ads, how many partners you have.

    [00:08:43] Expanding the reach of your work through content licensing gives you exponential results. And if you are like, frankly, most of our clients, one of the most important things to you is actually expanding the reach of your work and helping more people and helping more businesses and being significant in making the deep, true impact for other companies.

    [00:09:03] And they’re individual users. That’s what we’re talking about with content licensing. And it’s absolutely my joy to open up the world of content licensing for you. I have a free video that you guys, if you’re watching this and you want to dive in more and hear case studies and really start your wheel spinning, cruise over to licensing tools.

    [00:09:24] com. com that’s licensing tools. com and you can binge our licensing 101 getting started video totally free. It is going to blow your mind. So let me share with you a story about one of the ways I got started with content licensing. I had this amazing course. And it was a course that I had developed to work one on one with my clients and I shared it with them virtually.

    [00:09:51] This is back in 2007, you guys, long time ago, and I was selling it as an on demand online course as well. And so I had that set up and I was using it with my own business and it within my own tools. And I had a friend who had a brick and mortar retail store and she said to me, wow, April, I would love to have your course for my staff members to teach.

    [00:10:15] In person to increase foot traffic into our brick and mortar store. So she identified that I had a course. It was just one course, you guys, and it was valuable in that having my course or permission to teach my course in her brick and mortar store here in Denver, Colorado was a big deal. A great way for them to start marketing more, increasing foot traffic.

    [00:10:38] And so one of my first licensing endeavors was giving that brick and mortar store permission to teach my class. It seems very simple, right? But think about the beauty of this. It was a class I’d already created. Number one, number two, this particular business was not in competition with me. So then teaching my class was really beneficial for them and it wasn’t hurting my business whatsoever.

    [00:11:02] We had the same audience, but different businesses and different business purposes. And I was able to make money off somebody else teaching my course without ever having to show up and do it myself. On top of that, I also got the credit. Everybody knew it was a course by me. So when these people went to the course, they recognized me and my company as a thought leader in this space.

    [00:11:29] It was a win win for everybody. So let me recap this. I had a course that I was still using in my business to consulting business, both with clients one on one and selling it on demand for clients. As an online course. Number two, another company asked if they could use it. Absolutely. Yes. Number three, it was in no competition with me whatsoever.

    [00:11:51] And it was a benefit to this brick and mortar store as well as a benefit to their end users, as well as a benefit to me. So I ended up making money by licensing my course. to this brick and mortar store. And let me tell you what happened after this. After this, I went on to license my course, this particular, this one course to brick and mortar boutique retailers all over the country.

    [00:12:19] As a matter of fact, I had one chain that had 15 stores that licensed my course in all of their stores. So that is one of many licensing stories I want to share with you so that you can start thinking about, Hey, would this work for my business? Is this something that would be really a great opportunity for me to scale my reach and increase my profits while, like I said, increasing my free time and increasing your thought leadership through licensing?

    [00:12:49] That is one of the ways that content licensing can benefit you. And over the course of the next couple of weeks and months here on this show and all of the resources that our company is actually focusing on for you is all around content licensing. We are your go to strategists and consultants to understand how to package in price in model up your licensing offers to sell them to other small businesses just like you.

    [00:13:18] All the way up to universities, the government, corporations, and nonprofits. Those are all of the places that our clients license their content and their curriculum into. So thank you so much for listening to this show. I promised you power packed episodes. I want you to leave listening to this super excited about the potential that licensing can play for your business future and having resources that you can start rolling with.

    [00:13:42] Of course, please subscribe to this show on YouTube and And on all of your podcasts, listening devices, you can visit us. If you already know you need help immediately, you can go to suite life co. com and you can apply to work with us or join one of our licensing courses. We are always here for you and I can’t wait to help you see the future with this.

    [00:14:02] It is an absolute game changer. All right. This is episode number 320. You can visit that in the show notes as well. Take care guys. Talk to you soon.