Today I finished crafting a licensing deal.
With that I mean, an agreement where I license the rights to a product someone else made. Either by outright buying the rights to the course, paying them a monthly retainer, sharing a percentage of the profit, or some other form of payment we agreed on.
Doing so allows me to offer many more products than I could create on my own, and serve a much wider range of audiences than would be possible for me to do by myself.
For some reason, even though I’ve been working for myself for over two years already, this is one of those things that makes me feel like I’m running an “actual” business, instead of a glorified side-hustle. There’s something about working together with other people, bundling your strengths, and generating more value for your customers than either of you could do on your own, all the while still keeping your independence and working for yourself, that makes it feel more “business” like and more like I’m actually contributing value to society.
I also thought doing such types of deals was out of my league.
But I’ve spent a lot of time this month learning about all of this licensing stuff, including how to negotiate and what kind of agreements are possible and extremely profitable for both parties involved.
The more I looked into it, the more I realized making these types of deals is a win-win situation for everyone involved.
I’m definitely no expert yet. But I’ll keep learning more about this side of the business.
And no worries, I’ll share a lot of my findings here with you as I gain more experience.
For now, feel free to check out my flagship course Email Valhalla here: https://alexvandromme.com/valhalla/