The Money Mindset Mentoring Podcast
Steve Hamoen covers sales and marketing mastery to overcoming challenges, scaling through team development, and harnessing the power of mentorship for rapid growth.
# 31 - Licensing potential and control dynamics to Lego models with James Foster
In this episode, Steve Hamoen and guest James Foster explore the potential of licensing, its benefits over affiliate deals, and its role in different-sized businesses. They discuss negotiating beneficial deals, aligning with customer values, and compensation structures. They conclude with insights into the Lego model and the transition from a creator to a producer mindset.
Key Points
- Licensing agreements offer a way for coaches and experts to monetize courses that are no longer their primary focus by allowing others to sell these products and pay royalties, similar to how musicians earn from their music.
- Affiliate relationships are generally short-term, promotion-based partnerships, while licensing deals are more suitable for long-term relationships aimed at solving a recurring problem for the licensee's audience.
- When entering a licensing agreement or an affiliate partnership, it's crucial to establish clear communication, set expectations upfront, and consider creating incentive structures to ensure both parties benefit from the relationship.
James Foster:
https://www.linkedin.com/in/jamesmakesdeals/ https://big-mojo.mykajabi.com/8figurelicensingmojo Bio: James can help turn Your OLD Stuff into Multiple NEW Income Streams WITHOUT Taking on More Clients, Chasing After New Leads or Changing Your Whole Biz Model...
Chapters
| 0:00 | |
| 1:33 | |
| 5:29 | |
| 8:08 | |
| 11:31 | |
| 14:15 | |
| 19:02 | |
| 22:50 | |
| 26:51 | |
| 31:55 |
Transcript
Loading transcript...
- / -