My first deal as a โlicensing agentโ
Two things I learned from Travis about structuring licensing dealsโฆ 1. you can come about it from a thousand and one ways, and 2. you can make up your own rules as long as everyone agrees This is a little breakdown of what I did as a licensing agent, or โconnector hatโ as I sometimes call โem, to put my first deal together. BTW this is by no means a perfect example. Far from it. But thought Iโd share to show how one country bumpkin from Arkansas was able to still make it happen using what Travis teaches in this group. I took on the licensing agent role because I like being a connector. Donโt really have my own proven IP. And really enjoy uncovering NEERs for distribution opportunities. ๐ So hereโs the key points... Originally I reached out to a guy on twitter to see if had the value bombs he was doling out freely over there packaged up into a course. If he did I wanted to license it out. He didnโt. But I remembered Travisโ sheik and luxury car dealership story and what he said to do if youโre just starting out - ** Get control of distribution first. Then itโs easier to source a product fit. ** The aforementioned value ๐ฃ's the guy shares is about driving traffic to his ecomm stores. Heโs shared numbers before so I knew it was a safe bet he gets a good amount of traffic and customers. So I asked him if he ever wanted a digital product to offer his customers I could probably source something through my network (network being all you peeps in this group). He replied back a yes to that with the name of one his store brands that he could use a digital product for (see the msg pic1 attached). This brand sells handheld hidden camera detectors. We hopped on a call to explore what digital IP would make a good fit. One of the ideas that came out of that call was a security guide for travelers pdf. Preferably by a security authority figure. Funny enough although I made a post here in the group to source a product and received some great ideas, I actually stumbled on an IP partner through happenstance.