I recently had a conversation with Nina Kaufman on the Business Breakthrough podcast. Don't miss this interview where we discuss the secrets to identifying and licensing your business' intellectual property. Consultants, mentors and technical support professionals all have valuable IP—now you can learn how to monetize it!
Link: https://itunes.apple.com/us/podcast/id976198037
Many businesses create valuable intellectual property … and don't even realize it! Trade secrets, know-how, the systems you use with clients to get results–all can be packaged up and licensed to others. Which creates leveraged and recurring revenue for you!
But how can you get these hidden assets out of your head to reach more customers, and spend less time doing it?
During this interview, I share my 3-step process for identifying and licensing your intellectual property and transforming your business into a self-sustaining system.
Here's more about what you'll hear during this interview:
- If you offer a service or system that gets results for your clients, you can (and should!) license your know-how. Consultants, mentors, technical support, and anyone offering their skills as a service can claim this as intellectual property. Register it and transform it into a packaged product.
- Take inventory. You may already be using intellectual property you didn't know you had! How do you use and document your intellectual property? Assess what you have and the systems you have in place. If you don't, you could miss out on valuable branding opportunities.
- Licensing expands your reach. With it, you can access more companies you otherwise couldn't because of location or staff limitations. Training classes, software, certification programs, or productivity systems–can all be delivered without requiring your physical presence.
- Want ongoing revenue from the same client? Licensing lets you continue the conversation by offering upgrades, refresher courses, check-ins, and audits. All of these processes ensure that your business continues to grow and evolve.
Listen to this podcast and find out how to leverage your intellectual property (that you may not even know you have!) to generate more revenue in your business.
Link: https://itunes.apple.com/us/podcast/id976198037
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience run the gamut from medical devices to food technology to consumer products. He's licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid's action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges, and startup events. His first book, Hidden Wealth: The Money Making Power of Licensing was released in 2019 and is available on Amazon.com. He's also a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.