I often speak with startups and experienced business owners about different ways they can use licensing to make their business more profitable. And I always get the same response – why has no one ever told them about these strategies before! That’s when I realized I needed to offer a training program just for startups and business owners to share the secrets of how to use licensing to launch a startup and grow a business.
In licensing, it’s not where the market is today but where it’s going. Licensing is about spotting where an industry and companies are going, and capitalizing on it with your IP. That’s why licensing is such an ideal strategy.
Licensing is a flexible strategy that offers many options. One of those is using it to capitalize on new growth opportunities without spending lots of time and money. Recently a company with natural health products wanted to expand its business but didn’t have the financial resources to support its growth plans. So the company split its product IP into two separate entities, and then used licensing to fund its expansion plans .
An IP savvy business doesn’t look at its intellectual property as a sunk cost. They don’t ignore it and leave it on the shelf. They look at it as an income producing asset, that’s core to their business and leverage it many ways. The IP savvy business understands that in […]
The expectation to grow fast with fewer resources is always a challenge, especially for small businesses and startups. “Can it be scaled” is something you often hear from investors evaluating the revenue potential of your business model. A software product is a classic example of a scalable business. The costs […]