Licensing Made Simple: A Guide for Coaches & Consultants to Sell Their Courses To Corporations, Organizations, and Small Businesses
Introduction
As a leading expert in licensing programs, I have helped countless entrepreneurs unlock new levels of growth and success for their businesses. But it wasn't always that way for me.
14 years ago, I was struggling to keep up with the demands of my business, constantly derailed by unexpected events and overwhelmed by the never-ending to-do list. It wasn't until I learned to streamline my business and focus on the tasks that generated the most revenue that I started to see real progress.
One of the key strategies I discovered was the power of licensing my training programs. It allowed me to leverage the expertise of other companies who had established networks and distribution channels, reaching a much wider audience than I could have ever done on my own. Through trial and error, I learned the ins and outs of licensing programs and have since become a sought-after expert in this field. I've helped entrepreneurs across industries to unlock new revenue streams and expand their reach through licensing.
But is it right for you?
The world of coaching, consulting, and subject matter expertise is constantly evolving. You may be considering the idea of licensing your courses and trainings to other businesses. In our latest podcast episode, "Licensing Made Simple: A Guide for Coaches & Consultants," we discuss key considerations and offer valuable insights to help you make an informed decision about whether licensing is the right move for your business. Here are some of those considerations for you to process.
Direct Selling vs. Licensing
One of the primary factors to consider is whether to continue selling your courses directly or license them to other businesses. Do you love launching, working with clients 1-1 or group, selling your services and being the one to deliver? Or, are you ready to move to more hands off, to create new things and allow others to take on teaching your genius?
How you want to work now and in the future will dictate if licensing is a good fit. If you’re ready to move on to new business endeavors, licensing could be a great solution.
Note: If you want to stay in the mix but not move fully into licensing, consider creating a certification program and training other coaches how to deliver your method and programs. More on this in SweetLife™ Entrepreneur Podcast episode #269 - www.sweetlifepodcast.com/269
Balancing Work-Life and Personal Goals
Licensing your courses can impact your work-life balance and personal goals. Reflect on how the decision to license could influence the way you work and the lifestyle you desire. Consider how much time and effort you want to invest in managing the licensing process, and ensure your choice aligns with your long-term objectives. You can hire licensing sales teams and agents, or sell your IP directly.
Licensing vs Direct Coaching opens up a massive amount of time in your life and business. As an example, I release my courses for licensing only one month a year. Potential licensees join a waiting list all year long, and I sign contracts and release content only in November.
Developing a Pricing and Revenue Model for B2B Licensing
To successfully venture into B2B licensing, you'll need to develop a new pricing and revenue model tailored to this market. Creating a well-thought-out plan can significantly impact the success of your licensing venture. Here are some considerations for you to roll through:
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What is the value of your course or program per person?
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What is the bulk access fee of your course?
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What is the ROI a company can expect when licensing your content?
You’ll need systems in place to send invoices and receive large payments. You’ll need to be sure your processes are buttoned up and your contracts are accurate. If you’re not ready for this, then you’re not ready for licensing.
Building Partnerships and Networking for Success
Forging strong partnerships and networking with other businesses is essential for successful licensing. Find the right partners and connect with others who know potential contacts who may want or need your content or trainings.
Back in the olden days of business (pre 2012), “social media” meant going to local events and conferences. These old-school strategies are important for licensing. If you don’t want to meet people, connect over coffee, speak at events, or take the time to network with a giving-first attitude, then licensing may not be for you. You can hire an agent to manage your connections and sales for you to the tune of 40%+ commission if you’d like… but when we’re talking about Million Dollar licensing deals, I personally would never pay that! It’s your call.
Conclusion
Navigating the world of B2B licensing may seem daunting, but trust me - it's worth it!
By considering the pros and cons of direct selling versus licensing, you can find the right balance for your work-life and develop a pricing and revenue model that works for you. Plus, building strategic partnerships can help you reach new audiences and unlock new levels of success.
If you're curious about licensing but don't know where to start, check out our Kick Start Training: Licensing Launchpad™ https://www.licensinglaunchpad.com/
