In my last email I shared how I started online by buying licenses to other people’s products.
Licensing my own content has also created a lot of extra passive income for me over the years.
For example, I once sold a group coaching class which taught exactly what I was doing to build my list, create products, and multiply my profits online.
I made money by selling this class in advance.
Once the class was over, I turned it into a training course.
I launched it to my list. That was another big payday.
It continued bringing in money as sales came in over time.
I then sold a license to a limited number of licensees…allowing them to sell the course as their own.
This created an additional big payday.
And there was a secondary benefit I didn’t expect at the time.
Those licensees started selling the course…and keeping all the money from their sales.
But some of their buyers searched me out.
They bought other courses.
Sure, I may have lost out on some sales of that specific course. They could have purchased from the licensees instead of me.
But they also introduced me to new customers I would have never reached on my own.
They grew my audience for me.
So, I earned a big payday for selling the licenses…which was pretty much ‘found money’ since it was content I’d already produced.
And I earned ongoing passive income as they generated more buyers for my other products.
That’s just one example of how licensing has earned me extra money over the years.
Not too long ago I licensed one of my courses for $5,000 to a membership site owner.
Same deal. That was an extra $5,000 out of the blue which required zero marketing.
And it can produce the same results.
More customers who I’d likely never reach on my own are being introduced to me.
I’ve also licensed my products to be sold in other languages.
They handled all the translation work…all the selling…and sent me royalties monthly or quarterly.
No work or hassles on my part. Just extra passive income.
Of course, you have be cautious about licensing your content.
You don’t want to sabotage the sales of one of your core products by creating your own competition.
Don’t license the primary front-end product you’re running all your paid traffic to.
That’s NOT a good idea.
In addition, you don’t want people to misuse your name or reputation.
So, you have to be careful about how you license your product and what they’re allowed to do with it.
The November issue of the Monthly Mentor Club is about earning “Passive Income From Licensing.”
It will be sent for print & mail to all subscribers tomorrow.
A PDF version will be available in the membership area on Sunday, November 1st.
You’ll discover how to identify high quality products you can license to start a business or generate extra profits in your business.
You’ll also discover how to earn passive (or almost passive) income from selling licenses to content you’ve already created.
Maximize the value of the assets you already control…while avoiding the common dangers of licensing (on both the licensor and licensee side).
