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About 15 years ago, I had an experience that seemed ordinary at first, but ended up changing my life forever. And I’m betting it will do the same for you.
Here’s what happened. I had just shut down my marketing consulting business to co-found a software company with two partners. And since I had a marketing background, I was in charge of developing all our prospecting materials.
Like any new business, our greatest need was creating an effective prospecting piece that would have a strong appeal to potential customers. And that appeal had to set us apart from our competitors, because so many of them had been in business a lot longer than us.
So I put together a short, but very effective prospecting letter — just a page and a half in length. We then sent it to the COOs of a couple dozen Fortune 500 companies.
The next thing I knew, that letter won our little 3-person company appointments to demonstrate our software to six Fortune 500 companies. A few of those companies ended up licensing our software which put us on a pretty steep growth path.
Now, as cool as this was, it was not what changed my life forever.
That happened next, about 18 months later.
You see, after just 18 months our software company was bought out by a larger competitor which made us all a nice chunk of change and freed me up to pursue other things.
And what I decided to pursue was a way of applying what I learned about licensing software to licensing marketing campaigns. Because with licensing, instead of creating something new for each client, you create something once and then license it out over and over again.
The mindset shift that changed my life forever
The first thing I did was re-open my marketing company. But now, instead of creating new marketing campaigns from scratch for each client, I decided to take only my most effective campaigns from the past and license those same campaigns to dozens of clients.
In addition, because these campaigns had a proven track record, I could guarantee their results and command very lucrative fees.
I started with that little page and a half prospecting letter that had been so successful for our software company. I quickly found a company that sold a completely different kind of software and licensed my letter to them.
They sent the letter to their prospects and waited to see what would happen, hoping that they’d hear back from a few prospects over the next couple of weeks. But instead of taking a couple of weeks, the next day my client received a phone call requesting an urgent meeting in response to their letter.
The following day, my client flew to the prospect’s location, had a short lunch meeting, and came home with an agreement for a $25 million deal!
THAT was the moment I knew with complete certainty that my plan to repeatedly license the same marketing campaigns over and over again would change my life forever. And I continued to license that same letter to 17 different industries — and hundreds of other marketing consultants — earning from $1,750 to over $30,000 every time I licensed it.
So what does all of this mean to YOU? My new program, The Asset Licensing Blueprint, gives you a foolproof blueprint anyone can use to quickly and easily duplicate my success. Best of all, it shows you how to hire inexpensive freelancers to do all or most of the work (including the copywriting) while you sit back and collect substantial licensing fees — over and over again.
I’ll give you more details on the complete program in just a minute. Before I do, let me show you another example you can benefit from.
Google proves that asset licensing works
Asset licensing works for much more than licensing marketing campaigns. It can also be used to quickly create and license small products and services.
So let me show you a real live example of how lucrative this can be. To start, do a Google search on “Power Copywriting for the Internet”. Be sure to enclose this title in quotation marks or you’ll get false results on your search.
When you do this search, what you’ll see is that there are tens of thousands of results returned. And almost all of those results are for web sites that are selling this course.
I originally wrote this course about 15 years ago and it took roughly six hours to complete using my Rapid Asset Creation process. I then sold the course for a couple of years and followed that up by creating two forms of licenses that allowed people to buy the resale rights.
Now, to me, that course is severely out of date because it was written so long ago. But as you can see, sales of the course are still going strong after all this time.
However, I did make a critical mistake in licensing the rights to this course. You see, at the time, I didn’t fully understand the power of using licensing to create long-term streams of recurring income. So I charged a one-time licensing fee, rather than an annually renewable fee.
With that one-time fee, the revenue stopped once I quit licensing the program. But with an annually renewable fee, I would have seen recurring revenue for the full 15 years. So while I made about $225,000 from licensing this asset, I could have easily made millions.
Even so, $225,000 isn’t too shabby for about six hours of initial work! In addition, I’ve created dozens of other small assets that I’ve licensed over and over again to hundreds of businesses. And in my program, I’ll show you exactly how you can do this too, using freelancers to do most or all of the work while you focus on licensing out your assets and collecting substantial fees.
Client Case Study: How to quickly create and license
your own assets to dozens of other companies
Here’s one more asset creation and licensing example I know you’ll find very intriguing. There are seven different ways to quickly create assets you can license to dozens, and even hundreds of companies.
What I want to do here is share a short Case Study of just one of these seven asset creation and licensing strategies. This strategy focuses on creating small, customized booklets that you license to your clients. Your clients then give these booklets away or sell them to their prospects and customers.
Now, you may be wondering why your clients wouldn’t just do this on their own. Some do. But there are literally millions of other companies that need additional products and services to offer to their customers, but they don’t have the skills, the time or the staff to create them.
At the same time, they’re always in need of quality content they can use to provide added value to their customers. And once you understand my simple recipe for creating high-quality content over and over again, you can easily produce dozens of these booklets and license them to as many companies as you’d like.
So let’s take a look at a short case study of exactly how this can be done. One of my original students, who is now a good friend of mine, creates these types of booklets for a number of niche industries. Essentially, these booklets are tips for getting better results in some aspect of your business or your life.
Using my Rapid Asset Creation recipe, he quickly creates the content in about two hours. Next, he has a professionally designed cover created for $100 to $200.
Finally, there are areas on the cover and within the text where the booklets are customized for each client. This is done with a simple “find and replace” operation that takes about two minutes.
In addition, there’s a resource box within each booklet that says something like, “This booklet was custom developed by ABC Publishing. To find out how to get customized booklets like this to use in your business, contact us at: your contact information”.
So not only are these booklets licensed out repeatedly for direct revenue, but they also act as a lead generator. How sweet is that!
So well does this asset licensing strategy work?
I still remember the first time my friend used it about 15 years ago. His very first deal was for 11,000 copies of his booklet that he licensed to a single client at $2 per copy.
Now, $2 per copy may not sound like much compared to what you might sell a booklet for. But by licensing it to the client to use 11,000 copies, my friend immediately made $22,000 on that single project. And that was achieved for around $150 and just 3 or 4 hours of his time.
Plus, because your license is renewable every year, that same project would bring you an additional $22,000 every year for many years — simply for sending out the renewal contract. Not to mention that you can license the same booklet to dozens of other clients for many years.
Now, this is just a quick overview of one of the seven different ways to rapidly create and license small products and services. But it clearly demonstrates how profitable it can be to create and license small assets.
And that brings me to one more critical concept that makes licensing assets the best opportunity for any entrepreneur to quickly gain financial freedom. So let me show you…
3 practical steps to gaining financial freedom
Usually when someone talks about gaining financial freedom, it’s some “get rich quick” scheme that has little or no hope of working. So let me make something abundantly clear right from the start. Creating and licensing small assets is not a “get rich quick” scheme in any way, shape or form.
It requires work and dedication. Now, that work is really enjoyable, but it’s real work that requires real time and commitment. So if you’re dreaming about “push button wealth” or some nonsense like that, you should stop reading this right now, because you are not going to find that here.
However, if you want to build a great income quickly and use that as a foundation to add more and more layers of income and lock in financial independence, creating and licensing small assets is the best and most practical route I’ve ever found for doing that.
Why? Because the asset licensing business uses a 3-step model I call ICE. Here’s what this stands for and how the steps in this business model work:
I — Income
C — Control
E — Equity
Income. When you quickly create small assets to license, you can generate significant income immediately. As you’ve already seen in the examples above, there are literally millions of businesses of all sizes that need products and services that add value for their customers. And they’re happy to pay a reasonable fee to add those products and services to their offerings without having to invest any staff, time or money in developing those products and services.
So it’s relatively easy to close your first asset licensing deals very quickly. And using my proprietary asset creation and licensing process, there’s no limit to the number of products and services you can develop — and profit from for years to come.
Control. Creating and licensing your own assets gives you a powerful element of control that normally would only be available to large, established businesses.
You see, creating a product or service is one thing, but once it’s created, in the traditional business model, you then must find a large number of people to buy it. And it often takes years to build a large list of satisfied customers. In addition, there’s customer service, inventory, a shopping cart to process orders, credit card processing, fulfillment of orders, hiring and managing staff and many other resources that are required to run a traditional business.
However, with the asset licensing business model, you don’t need any of those support elements I just mentioned. All you need is the ability to create dozens of assets that you control through the licensing process. Then hundreds of companies that have invested a tremendous amount of time and money to develop all those other resources essentially loan you the use of them by rolling your products out to their customers and supplying all the other support that’s required to do this.
Instead of having to create all the resources normally required to grow a business, your business is greatly simplified by focusing exclusively on creating more and more assets to license out. And you have complete control over how many assets you create, when you create them and who you license them to.
Equity. If you truly want to achieve financial independence, then you must hold equity in a business or other assets. When a company is sold, it’s the value of its assets that determine how much or how little that company sells for.
Now, when you create multiple assets that are licensed out and generate recurring revenue, the equity value you hold is determined by how many assets you’ve created and how many licensees you have for them. If someone can simply step in and take over running your licensing business without missing a penny in revenue, that’s a business with a substantial amount of equity. And companies will pay significant amounts to buy some or all of your assets.
Over the past 25 years, I’ve sold off a number of the assets I created. On one deal, I received $240k up front plus stock in the company I sold my asset to. The bottom line is this: owning assets that generate revenue and have equity is the key to achieving true financial freedom.
Why the market is ripe for asset licensing
The market has never been better for asset licensing than it is today. Now the truth is, the market has always been good for asset licensing. After all, if you create something that provides a way for companies to make more sales quickly with no development time required on their part, why wouldn’t dozens of companies want to license it from you?
But there’s also a very specific reason why now is the best time I’ve ever seen for asset licensing. You see, because any business can put up a web site for just a couple hundred dollars, the amount of competition in every market has grown considerably.
At the same time, companies have less money and less staff to work with and usually don’t have the luxury of devoting significant resources to creating new products and services. Yet they desperately need new products and services to stay a step ahead of a sea of competitors.
So when you create an asset that adds substantial value to what companies are already doing and they can use it immediately, they avoid having to invest a penny in development and can generate additional profits right away. And it’s this synergistic relationship between you as an asset developer and the millions of companies that desperately need more products and services but don’t have the resources to devote to developing them that makes this the best time in history for profiting from this simple business model.
7 more major advantages of asset licensing
In addition to what I’ve just covered, there are a number of other advantages asset licensing gives you that you don’t get from other business models. Let’s take a look a 7 more of these advantages.
Advantage #1: Create it once, license it hundreds of times
I’ve touched on this already and you’ve seen it demonstrated in the examples I gave you, but this point is so important that I want to emphasize it again. One of the key factors in building any successful business is that it’s scalable. That means that it can be expanded without any significant level of difficulty.
The asset licensing model is completely scalable. Any asset that you create only needs to be created once. Then, with just minor modifications, it can be licensed to dozens or even hundreds of companies.
In addition, you also use the same prospecting strategies and marketing pieces to license your assets every time. So rather than re-inventing the wheel with each new client, the time it takes to service each client is as low as possible. And this frees up more time you can devote to creating even more assets that you can license out.
Advantage #2: The most leverage you could
ever want is in other people’s resources
This is another critical point that bears repeating. You see, what really makes asset licensing so profitable is that you never have to create any of the resources that make traditional businesses so successful. Instead, you count on those businesses to invest all the time and money in creating those resources and then create assets that complement them.
By doing this, you harness all the advantages of those resources but you don’t commit any of the time or money that’s necessary to develop them. You also have very little risk. First of all, you’re only creating assets for companies that already have a strong need for them. So there’s very little risk that your asset will fail.
Second, even in the rare instances where a licensable asset does fail, the time and cost to develop it was negligible, so you lose very little. Then you simply move on to creating other licensable assets.
Advantage #3: Small assets are as profitable — and often
more profitable — than large assets
Contrary to being successful with a traditional business model where “bigger is better”, that’s rarely the case when it comes to creating and licensing assets. There are two reasons why small assets are often more profitable than larger assets.
First, when you use my proprietary Rapid Asset Creation process, you can create a complete asset very quickly. Many of the assets I create take just 2 to 4 hours to have in a finished state.
Second, because the licensing fees for smaller assets are inexpensive to your prospects, it’s easier to close many more licensing deals. But remember, it’s only the fee per unit that’s small, which doesn’t mean that your deal will be small. As you saw in one of the examples above, you can often license thousands of copies of the same small asset all at once, making the profit you realize on each deal quite significant.
Then, by using the attractive fees of these small assets to close hundreds of deals, you can easily hit six and seven-figures with a single asset or a combination of small assets. And that’s a unique advantage that you’d be hard pressed to find with any other business model.