I’ve done about a dozen licensing deals for/with Travis Sago in the past few months.
And I’ve done a handful for myself over the last 15 years not realizing licensing was what I was doing.
… Turns out? Licensing isn’t that complicated.
Here are the tools you’ll need:
- Content Delivery
I recommend Kajabi but this could be done with Thrive Cart, JVzoo, or a ton of other tools. Normally, the easiest way to give access to your offer is to create a checkout page with a 100% discount coupon your licensee can give the customers.
- A way to sign agreements
Even if you’d never take someone to court? Agreements are important.
I’ve had situations where a deal was made over a call and a couple months later specifics were simply forgotten.
A signed agreement makes it easy for both parties to keep track of what’s what
I really like a service called SignNow.com which is about $9/m and let’s people sign anywhere.
But printing a Google doc, signing/dating, and scanning it in works just as well.
- Communication The older I get the more I find dang-near-everything comes back to communication. Have plenty of ways for licensees to get ahold of you or for you to get a hold of them. While a lot of deals close by DM or email having a Zoom (or Skype) account handy to talk ‘face to face’ can make everyone more comfortable.
- A way to collect money
PayPal is an easy option for most of us. If royalties get over a couple grand consistently from a single partner? You’ll probably want to talk to your bank about wires.
That’s it.
Those are the 4 tools you’ll need.
Not very scary are they?
I’ve been known to overthink things in the past. I hope this helps some of the other overthinkers get their licensing deals happening quicker.