187: Licensing 201 — Q&A (Part Two) on Pricing + Packaging, Train-the-Trainer, Delivery, and Legal

Written By Megan Dougherty

“A shoe is just a shoe until my son steps into it.”
—Deloris Jordan

When negotiating Michael Jordan's famous shoe deal with Nike, his mom Deloris “made an additional demand: Her son must receive not only a $250,000 fee, but also a cut from every sneaker sold,” making her case with that mic drop moment above, as retold in the movie Air via The New York Times article ‘Air’ and the Argument for Letting the Talent Share in the Profits.

That, my friends, is the power of licensing :)

Today’s episode is the second half of an in-depth Licensing Q&A prompted by BFF Al Dea, host of the MBA Insider podcast. If you haven’t already, listen first to 140: How to Licensing Your IP (Intellectual Property), followed by 186: Licensing 201 — Q&A (Part One) on Product Development, Attracting Clients, and Sales Process.

Al submitted a series of wonderful questions that span five categories; in this episode, I’ll be addressing the latter three: selling and packaging, delivery (including more on Train-the-Trainer), and legal considerations.

A caveat, as always, when it comes to this notoriously opaque arena: this is not the way; it’s just what I’ve learned along the way in nearly a decade of setting my mind to licensing as a revenue stream.

📣 Join us in our private BFF community for a related workshop this week! We’ll be diving deeper into Certification and Licensing on Thursday, May 11 at 1pm ET. Even if you can’t make it live and/or if you’re listening after May 11, you’ll get instant access to the entire private podcast feed with years of special content archives.

In this special BFF bonus workshop, my longtime friendtor Pamela Slim—who taught me the early ins-and-outs of licensing—will walk us through:

  • How to know if/when adding a certification to your business makes sense (B to Small B)

  • How to know if/when adding a corporate licensing offering is a fit (B to Big B)

  • The first steps involved in creating an IP certification or licensing program

  • Ways you can work with her and her team of instructional designers on the build-out

  • . . . and anything you can think to ask and would love to know during Q&A!

❤️ Learn more and join us at http://itsfreetime.com/bff (apply promo code PODCAST)

📝 Permission: Start tiny. Plant a few little conversational seeds here and there with current and prospective training clients, and see what starts to blossom.

✅ Do (or Delegate) This Next: Create a page on your website that shows the path from one-off workshops or keynotes to full-on licensing and Train-the-Trainer, even if you haven’t fully built out your programs yet. And join us in BFF to learn (and develop your materials) alongside fellow Heart-Based Business owners who are also on the certification and licensing journey!

📘Books Mentioned

🔗 Resources Mentioned

📓 Examples of Certification and Licensing Programs

🎧 Related Episodes

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Megan Dougherty
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188: Energy Capacity Planning, Pricing, and Finding Resonant Masterminds with Kelli Thompson
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186: Licensing 201 — Q&A (Part 1) on Product Development, Attracting Clients, and Sales Process