Eps 85 - Licensing Part 1: How to License Your Expertise When You Provide Bespoke Custom Services
Are you a high-value service provider looking to leverage your expertise without a traditional licensing or certification program? Tune in to the latest episode of Hourly to Exit, where we explore innovative ways to create leverage in your business through licensing.
In this episode, we dive deep into the concept of licensing bespoke custom services, drawing inspiration from the origins of Microsoft and the shift from ownership to access in today's economy. I share examples and insights on how you can apply the principles of licensing to your unique service offerings, paving the way for new opportunities and revenue streams.
Key Takeaways:
Understand the Value: Clients seek results, not just deliverables. Learn to focus on the benefits and outcomes of your custom solutions rather than just the inputs. Value-based pricing can be a powerful tool in this context, allowing you to align your pricing with the transformative impact of your services.
Licensing Solutions: Explore the possibility of licensing custom solutions to clients instead of selling deliverables. This approach can create a win-win scenario where clients gain access to the solution they need, and you build a valuable IP library for future use. It's about offering access to transformative solutions rather than transferring ownership of specific deliverables.
Incorporating Licensing: Even if your services involve clients' proprietary information, there may still be opportunities to retain and license certain portions of your work. By identifying non-client-specific research or solutions, you can expand your revenue potential through licensing. This approach not only retains your valuable insights and work but also enables you to create additional income streams.
Tune in to the full episode for more in-depth insights and practical examples on how to integrate licensing into your bespoke service offerings.
As always, I look forward to your thoughts and questions as we continue to explore new horizons in business leveraging. Happy listening!
Mentioned in the episode: Did you know that you are already licensing your IP to your clients?
Connect with Erin to learn how to use intellectual property to increase your income and impact. hourlytoexit.com/podcast.
Erin's LinkedIn Page: www.linkedin.com/in/erinaustin/
Think Beyond IP YouTube Page: www.youtube.com/channel/UCVztXnDYnZ83oIb-EGX9IGA/videos
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As always, podcast episodes provide general information only. So if you have specific copyright questions, I strongly urge you to consult with your IP attorney. If you aren’t sure where to start, contact me for a consultation.
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Music credit: Yes She Can by Tiny Music
A Team Dklutr production
For a full transcription of this episode, click here.