Episode 31
# 31 - Licensing potential and control dynamics to Lego models with James Foster
The Money Mindset Mentoring Podcast
April 18, 202434m 29s
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Show Notes
In this episode, Steve Hamoen and guest James Foster explore the potential of licensing, its benefits over affiliate deals, and its role in different-sized businesses. They discuss negotiating beneficial deals, aligning with customer values, and compensation structures. They conclude with insights into the Lego model and the transition from a creator to a producer mindset.
James Foster:
https://www.linkedin.com/in/jamesmakesdeals/ https://big-mojo.mykajabi.com/8figurelicensingmojo Bio: James can help turn Your OLD Stuff into Multiple NEW Income Streams WITHOUT Taking on More Clients, Chasing After New Leads or Changing Your Whole Biz Model...
(0:00) Introduction and overview of the episode (1:33) The potential and advantages of licensing (5:29) The long-term benefits and control dynamics of licensing over affiliate deals (8:08) Scope of licensing in small businesses and large corporations (11:31) The impact of experience level on the success of licensing deals (14:15) Negotiating beneficial licensing deals and comparing licensing in different industries (19:02) Connecting with the customer's higher value model for successful licensing (22:50) Compensation structure for licensing agents and evaluating the success rate of licensing deals (26:51) Transitioning from selling bricks to building sets: The Lego model (31:55) Transitioning from a creator to a producer mindset and the role of a licensing producer