How To Profit From What You Already Know

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Most business owners, when they think about Intellectual Property, they immediately conjure up the images of lawyers, thick contracts and trademark deals.

That’s why, so few seek out the opportunities available to them by licensing their knowledge.

How, you ask?

Let me explain…

There are millions to be made in licensing what you are doing now.

Just by simply allowing others to use the exact specific methods that are already second nature to you in your business, you could be collecting upfront fees and royalties.

Your systems, how you do things, your brand – these things all can be licensed.

Perhaps you have solid systems. You know the 10 steps to take your business from scratch to where it is now.

You know the kind of advertising, systems for operations, systems for selling…

You can license these methods to other people in other regions.

“But why would anybody want to pay for this?”

People pay for Certainty.

If you could give them a solid plan and blueprint to be successful in your industry, people will pay upfront and ongoing fees for that “safety net”.

A Dry Cleaner I know had their system perfected for getting the work done as efficiently as possible.

He had exact numbers and methods for everything from pricing to advertising to pick up and delivery.

Once he had all these things dialled in, they licensed the system out. Basically, he gave his competitors the green light to “copy” exactly what he was doing.

And they were even able to control where they go, so that their businesses didn’t lose clients to the new licensees.

Basically, he was making money in the markets where he had operations as well as in the markets where other people ran their own dry cleaning stores – using the methods they licensed from him.

It’s a win-win all around.

My hope is that after reading this article, you’ll become just a little bit more open toward the idea of generating income in other ways than you previously knew how.

If you’d like help with exploring what’s available for you and what opportunities you might be missing out on, give us a call at 1300 680 223. We can help.