How to Multiply Your Revenue Using What You’ve Already Built

0:0010 years ago, I made the decision to build my personal brand that was elevated, yet approachable, and reflected who I was, not just what I did. I created my website with ShowIt because it's true drag and drop freedom so you can easily build and update your site. Plus, their real human support team, game changer. Want to try it for yourself? Head to jasminestar.com forward slash show it for a 14-day free trial and first month free when you subscribe. What if I told you you could create a new revenue stream not from a new offer but a new buyer? And then what if I told you that this buyer could maybe pay somewhere of eight to 10 times more than any of your other buyers?

0:41What if I told you you could streamline your business and get back more time and make more money? That is what we're gonna be talking about today. My guest is here and she is the best in the game. And she realized around 2020 that a lot of people didn't know that this was even possible in business. She's here to blow your mind. And we're going to be talking about licensing your content, like your course, your IP, a framework for a new revenue stream. Yes, we are talking about licensing. And just before you even think, no, no, that couldn't be for me. Y 'all prepare your hearts. It absolutely will be.

1:15Someone is going to be paying you to rent your IP. Oh, yes. Yes, friends. Welcome to the show, April Beach. Thank you for being here. Thank you so much for having me. So exciting to talk about this. Okay. And one of the reasons I wanted to have you on the show is because you're teaching people how this idea that that's not possible for me is actually very much possible. It is what you teach and coach people through. You have a ton of success stories. So the thing you're going to be asking people today is to just keep an open mind and you're going to lay it out clearly for them. And then they're going to be able to say to themselves, it is possible for me.

1:51That's exactly what we're going to do. Okay, so as we get started, you're not prepared for this, but prepare your hearts because we're going to play a game called Licensing or Lies. Okay. So what I'm going to do is I'm going to give you six questions over 60 seconds, and we want to get this party started off right. So we have a clock. We are going to be setting 60 seconds on this clock, and I'm going to set it right about here when we get this party started. So welcome to License or Lies. April Beach, are you ready to play? I'm ready. Let's go. Okay. 60 seconds starting now. True or false. You can license just a part of your course, like a module, a template or framework instead of the whole thing.

2:36Number two, true or false. You need to get a lawyer to start licensing your IP. Yes. Number three, should you wait until you're fully scaled your business before licensing your IP? No. Great. Why? Yes. Okay. So fully scaled. Oh man, I'm going to break the quiz. No, go, go, go. We got it. We got it. Fully scaled. We're always going to continue scaling our business. Licensing is the next step after scaling your business. So you can't license parts of it while you're still scaling. True or false. If a company licensed your IP, they can sell it under their own brand without crediting. Yes. True. Five.

3:08Can you license the same piece of content to multiple buyers at once? Yes. Six. Is the biggest risk licensing your content that people will steal your content? No. Why? We got 14 seconds. Yes, because your contracts and how we release it and how we package it is very protective of you and your IP. And you get to set the rules. She had a five second sentence there, y 'all. I am so ready. Thank you. She killed it. Welcome to license or lies game over now. See, we just fully indoctrinated. Are you sweating? I'm totally sweating. I'm like, wait a minute. That was a trick question. You scale one was a trick question.

3:43Okay, so now that you've been fully indoctrinated into the stress chaos bucket that is building a business here and talking about the Jasmine Starr show, I want to talk first how we met, because the audience is very familiar that I don't bring people onto the show that I don't have a personal connection to. And so your name came to me by way of an early mastermind member. Her name is Jera Bean. Now, for those of y 'all who are familiar, Jera's been on my podcast twice. Her most recent episode we recorded in Austin, and she was talking about her licensing experience. And she talked to us just about a component.

4:19Now, what the audience is familiar with is the story of an entrepreneur. So she came into my mastermind and she says, I want to do this course. And she hadn't started it. And so the course of our time together, she launches a course on video editing and she launches it to her audience. And then by way of you has licensed it to Mac and Estee Lauder and universities across Australia. So how did Jara find you? And then to what capacity did you kind of like open her mind that she would be able to license a course where other people have video editing courses that they're not licensing? How did you make her believe that that was possible for her?

4:53So Jara and her husband, Aaron, who's one of her partners, they're amazing, found me through my YouTube channel, actually. So I teach a lot on YouTube and they got information. They started moving forward with licensing. They were able to start implementing some of the processes. And then when I started working with them, we really started putting more structure behind their licensing deals. So with letting them know that, yes, you can do this and you can do it beyond what you've already done. And here's how we do this. Here's how we protect you. Here's the pathway. here's the roadmap to do that.

5:24Now, was her level of success with licensing, was that average? Was it atypical? Yeah, it's actually average. So usually across the board, what we have seen is clients' first licensing deals around$56 ,000. I mean, it can start as low as$5 ,000. It can go over a million. And so we're looking at that$50 ,000 to$100 ,000,$120 ,000. It's very common. Businesses are used to paying for things like that. That is a price point that they are comfortable with, especially when you're licensing to larger corporations or universities. It's a very, very common investment and they want to make that investment.

5:57So we think, oh man, we've sold a course or a training for a few thousand. But to these companies, it's, oh, what's$120 ,000 for us to improve all of this through you? So I did a bit of due diligence. And so I wrote also here $56 ,000 per licensing sale. And I wanted to pause there because I didn't want to brush over that. I want people to hear that they have something that somebody else finds valuable. Now, initially, you know, I think it would have been easy for somebody like Jarrah. I am creating a video editing course and not necessarily think that a large corporation like Mac or Estee Lauder would find value.

6:32But for them, they wanted their makeup artist to be able to make video on social. So she saw this whole other channel that wasn't previously there for her. Have you experienced other people who are licensing their course or their IP and having in a different market that was unexpected? Yes. So as a matter of fact, when we first have our courses or trainings in the coaching, consulting courses, membership space that we're used to being in, we build it for one audience. That's the end user. But when we're licensing, all of a sudden, it's no longer the end user that you're selling to. It is the buyer that actually distributes and needs that content for their teams or for their customers, for their clients.

7:14And so it's actually a totally a different buyer. And all of a sudden you realize, wow, I can take the same content that I have built for the end user and it's going to be valuable to communicate with somebody else to bring into their teams or for their customers. Okay, that's so good. So one of the things that I wanted to go before we get into this, for somebody who's like, okay, I think this is interesting, but I'm not sure. How does April define licensing? What is licensing? Right. So we're familiar with brand licensing, music licensing. I mean, we use images in our marketing. That's not the kind of licensing we're talking about.

7:45We're talking about licensing your content, which are your methods or your frameworks or your courses or your processes, even your pillars of understanding. Whatever is the original intellectual property that you created, that you have gotten results for people in the past. That's how I define licensing. We're going to take content, but it's not just social content. It's intellectual property. It's training content, curriculum content. And when we do that, so that is the general definition of what we're taking and what we're releasing. we're actually renting it to other companies underneath set rules and guidelines that work well for them and work well for you.

8:27But when we do this, my definition goes beyond that. Why do we do this? And anything I think we need to ask, like, why are we doing this? Just because we can doesn't mean we should. We do this because by releasing your content, it helps your licensee, who's your new buyer. Remember, it's not necessarily the end user. It's the licensee. It helps that company deliver superior content, provide promises that maybe they couldn't have met those promises before. It helps them have greater results in their business. And then when they do that, then, of course, it's going to trickle down to the end user.

9:01So I call it the licensing trifecta. Licensing under this definition is amazing because it's great for you. You get to expand the reach of your work beyond what you could have before. I mean, these are audiences that you may not even know existed before. You aren't even targeting them. And then the company gets an amazing piece of content or product or training, and then the end users are getting your genius. So for somebody who's listening and they're telling themselves, what I do is not all that interesting or it's not all that unique. How do you overcome that primary objection? Right. So actually, the content that isn't all that unique, those are the ones that companies are used to buying first.

9:39They're looking for sales trainings, marketing trainings, communication trainings, you know, any of those, those are the ones that are commonly purchased and sought after. But then the ones that are really unique, those are the little specks of gold, you know, in the pan after we sift through in the river and companies want those as well. They want to be different. They want to be the leader of their market. They want to fully understand that they can advance whether it is a competitive advantage for their employees, for their teams, like in Jara's case, they wanted a competitive advantage for people that are on camera for those businesses to elevate their brand.

10:18And so those really specific, unique trainings are just the best because they give you and that company a competitive advantage. So both are very valuable. Okay. That's really, really, really good. So as we're here and we're just getting started on this journey, I want to start with three easy licensing offers. And you say the easiest place to start is one, teaming up with your network, two, competition into clients, and number three, growing your team. Can you explain these one by one? Yes. Okay. So first one, teaming up with your network. Yes. So you have amazing friends and you have an area of expertise that you are known for.

11:00Your friends love that you do that. I was actually just speaking to a potential client. I was having a conversation with her this week and she was saying, hey, listen, all my friends are asking for my system. What does this look like? And so that's what we're talking about. So if you have a unique system or training in your network, your colleagues, the people in your mastermind, they're saying, hey, listen, we want to bring your training in to what we do and have it be part of our ecosystem. That is number one. There are warm relationships. They trust you. And so these are actually what I feel fits into licensing quick sales is what I call them.

11:34Can I jump in real real quick before we move into the next point. And then I extend this. So there's a woman in my mastermind now, her name is Hallie, and she teaches feeding therapists. And she had a conversation with you. And you guys had brainstormed and you had said, there's hospitals that want this content. And that was a whole revenue stream. And then you had said, we need to work fast because if we want this launch before the end of the year, there's hospitals that have money that they need to spend according to their budget. And she just saw multiple six-figure revenue stream open literally less than two months before the year's end.

12:08So has there ever been another person when we're talking about network where she didn't think that a hospital was her network? Is this common for people to come in and then you're sitting there and you're like, well, this, this, this and that? All the time. All the time. Actually, the thing I hear is people don't know what they don't know is always what they say. And I feel like, honestly, I feel like I'm serving a buffet and I say, here, here are all the things that you didn't know. That's what I, That's my favorite thing to do is opening up these possibilities in these scenarios that people may have never thought of before.

12:38I love that. So number one, teaming up with your network. Now, the second easiest place to start with licensing would be to turn your competition into client. Yes, this is actually how I started licensing. So when I decided I didn't want to be selling my content B2C anymore, I thought, how can I, instead of just shutting it down or I wasn't at a place in my business where I was ready to exit and wasn't interested in, franchising. So I actually went to all of my competition. And let me explain the strategy after I explain generally what this is, because we have to be careful. This isn't for everybody.

13:10But I went to my competition. I said, hey, listen, do you want my systems and courses and frameworks and trainings? And what happened is they all jumped on it. It was amazing. And then I got to move back into a mentorship role, which I was originally in as a business strategist and form more of a mastermind and actually create a community out of those businesses that were originally my competition that were all now my licensees. Oh, that's beautiful. It was amazing. It was probably one of my favorite business models I ever did. It was like back in 2008. And it was simple and it was, I don't want to say easy, but it was ease and it felt right.

13:49So this has to feel right. So this is, yes, simple. It's one of those quick sells, but we don't ever want to obviously license to competition, something that you're continuing to sell yourself. So with licensing, the most important thing is understanding the long-term strategy before you move into anything and giving yourself permission to really think about what you want for your IP, even if it's just one piece of your IP or one course. And then we can say, okay, because of this, than that. And what is unique is it's not cookie cutter. Licensing is completely unique to every business and they need to give themselves permission.

14:28I don't think that we do that for everything. There's always things we want to work on our business, but actually give themselves permission to say, how far do I want this particular IP to reach? And who can I release it to in a way that's still going to look great for me 10, 15, 20 years down the road, because we can do that with licensing. Okay, that's good. So the third easiest place to start to review teaming up with the network, number two, competition to clients, and lastly, growing your team. Yes, okay. So if you have a certification program, there's so many amazing people out there that have a certification.

15:02You've already possibly certified in people in your methodology. Stacking licensing on top of that certification is the next flowing way to get into licensing in a very simple and quick way. Why wouldn't you then, after you've certified in your methods, release your SOPs and your systems and your frameworks and more of what could look like a business in a box to those individuals that have already been qualified, you already trust them, they've already gone through the steps to be a representative of your brand. And so licensing, stacking on top of certifications is a very simple way to continue to grow, to continue to increase your profit and continue to help those people.

15:43Oh, that's good. That's good. Okay, so people are sitting here and they're saying, yes, but how big can this thing get? How am I too small to start? So you had a client turn a$6 ,000 workshop into a$298 ,000 licensing training and it took her a month to make it happen. Can you explain how that happened? Because that sounds crazy to me. It was insane. Yes. Okay, now this is important to know. Licensing can close slow or close fast. When we have established relationships like this client did, she had an established relationship with this company, then they close very fast because that trust is there.

16:23Oh, so good. So in her case, she was a consultant and she works with many different industries and corporations. And she is known for coming in and teaching this one training, this$6 ,000 workshop, and just again and again and again. And at one time she said, you know what, I'm done doing this. I want to do other things. She's, you know, 55 years old. She's like, this is for the birds. I don't feel like doing this anymore. And so we sat down and created a package where she went back to the companies that she worked with and she said, look, you're paying me to come in and teach this workshop. But what you really want is amazing long-term results and what we call an afterburn for your employees because half of those employees couldn't make it.

17:07Half of those employees need that other support. So we actually created the offer on the backside, which we turned her workshop into ongoing materials and trainings, and she licensed it to them. I mean, it was a no-brainer for them. They said, well, absolutely. We didn't even know that was an option. And it's crazy. Even the largest companies don't even think necessarily to ask for this. They're used to licensing certain things like software. But if you have a relationship, it doesn't have to be a huge Fortune 500 company. It can be any organization that you have a relationship with and they bring you in to teach their people.

17:44When you turn around and you say, hey, look, but guess what? Wouldn't it be amazing if this could be embedded into your ecosystem for your teams or for your clients ongoing? I want to do that for you. So right now we hear this story and that's incredible. Are there three things that somebody who's listening, because I think that the listener, I always feel like I'm embodying the voice of the people who are watching and listening. And immediately what would come up with like, I'm not sure I would even be considered. And so generally, I might know that you wouldn't say everybody and anybody can license.

18:18What are three main considerations? Like if we're considering it like one, two and three. And then if we get answer yes to all of them, then we are on our way or in good position to license. Yes. Number one is, do you have a proven method or framework? And how does one define proven? Right. So you have given results to other people or other companies in the past. And these are predictable, transformational, measurable results. It doesn't have to be in the hundreds. You know, we're not the licensing police. I don't go and say, well, you haven't done this enough times. I mean, this is this is for you to judge.

18:51But if you even have a service, let's say you have an audit process where you go in and you work with companies and you have a step-by-step way of going through processes. And at the end, there is a result. And that result gives the client a tangible, measurable outcome. Then you are qualified to license. So that's number one. You need to have a method or process or framework. It doesn't have to be built into a course. Most people say, hey, listen, I can't license until I build into a course. So it's actually a mistake, which I'm happy to talk about as well. But having that method and framework that you know that you know that, you know, when we when we go to bed at night is leaders.

19:29Maybe it's just me, but I lay there and I'm like, OK, did I do well? Did I do a good job? Did I deliver something that got other people results? Am I doing what I'm supposed to do here? If you can do that and you know that other people are winning based on what you're teaching them, then you're qualified to license. Number two, you need to have a protection of your intellectual property. It has to be uniquely yours, meaning you can't take pieces of something that you learned somewhere else and just regurgitate it to license it. It's really important that this is unique IP to you. Now, the truth of the matter is most things that we build are based on things we learn from other people, right?

20:17So, and that's fine, but it needs to be uniquely yours. You can't have taken this from somebody else. And then the third thing, we want to make sure that your IP protection is in place. You want to have trademark protection and we want to have copyright protection. Oh, okay, great. That was really good. So I'm going to repeat back what I heard. if I am to be considering licensing a course, a framework, or my IP, I have to have a method or framework that's gotten results. Number two, that the IP is mine. It's my idea, my framework, my pillars. And then third is that there's trademark or copyright protection.

20:51Correct. If I have those three things, then I'm like, we can get that. Oh, great. Okay. Okay. So can we talk about the cost of not licensing your IP? Yes. Yes. When we don't license our IP, there are two different things that happen. First and foremost, or if you wait, if you say, I'm not really ready for this. I hear this all the time. You know, April, I'm not ready. I just want to wait until next year. Or we want to dive into this later. The thing is, is our content is only valuable and valid and up to date for a certain period of time. So imagine the systems and the content that you've created, we want to always keep that updated.

21:28So you're actually going to lose value in your content the longer you take to license it. So there's two different sides to the cost of not licensing. First of all, the IP itself, it loses value. And ideally, when we package up your training to release it, what we wanna do is, I don't want you to have to update it. Unless it's AI or medical, then we build updating processes into that. But what's best for those of us that are licensing and ideally the licensee is giving them something that has longevity. And so we want to have that content have longevity. So as updated as possible, you know, we want to get it out into the world.

22:06So that's one side of it. It's actually what's happening to the content itself. But then the other side of it, the cost of not licensing is significant because when you license, you don't have marketing costs. We don't really deal with funnels. You don't have massive teams. It's so simple. So you're actually if you want to move fully into licensing, if you're keeping the scaling side of your business, you're already going to have those costs anyway. But if you want to move fully into licensing, we actually can reduce your operational costs because you're no longer the one selling it. The marketing is very, very simple.

22:43We don't have an ad spend in most cases with most clients. And so you're actually spending money on your operational costs that when you move into a licensing model don't really exist. And then with that also, if you are a person in your space and you are in a really crowded red ocean and you want to be an elevated either thought leader or you already are a thought leader and you want to own a space like this is the hill that you want to die on. You believe this is your IP. This is where you're going. And I want to be there. The fastest way you can do that is through licensing, even if you still have the B2C side of your business, because it's going to actually build the sales on the B2C side, even though those people have nothing to do with what you're licensing.

23:30just by them knowing, hey, listen, Jasmine licensed her content to universities or to corporations or to organizations around the world. It just absolutely, it's like shooting a dolphin out of the ocean water into this blue ocean and you own that thought leadership space and nobody can compete with that. So then what happens for somebody who's listening and they're like, okay, I might not have to have funnels, but what if I don't have relationships? So when I think of Hallie. And when I think about Jera, there's two different journeys. Jera had relationships with Mac and Estee Lauder because she had spoken at their organization and events before.

24:09Now, Hallie, who wants to go into hospitals, has never done that and doesn't necessarily have connections there. For somebody who's like, I think I know I want to go in this direction, but I don't have connections. What does one do to build that? Right. So there are actually four different ways to move into sales or generate leads for licensing, both warm and cold. First one is organic. You know, it takes a long time, but we all want to do it because that's a relationship building. It's the sweat equity that we do across social. Licensing, by the way, is very LinkedIn heavy, which most people I talk to, they're like, what?