The Information products business is a multi-billion dollar market.
Information industry revenues exceeded 700 billion dollars in 2013 according to the latest industry report from Outsell Inc. In 2011, about $35.6 billion was spent on self-paced eLearning across the globe. Today, e-Learning is a $56.2 billion industry, and it’s going to double by 2015.
If you are in the information product business, there are two ways to tap this market:
- One is to set up your own online info product marketing business. But if you’re new to the business there is a long learning curve figuring out how to market and sell your product. There is the time necessary to learn how to set up your online business. Plus the expenses to get it running, promote your products and cover your overhead. It’s your risk because you don’t know what the return will be for months or even years.
- Your second option is to let someone else use and sell your information product. That’s licensing and it’s a low-cost, high return strategy for making money with your information product. You don’t have to set up an online business, you don’t need to sell each product and you won’t have the overhead expenses.
One of the biggest advantages of licensing is leveraging your information product. When you offer an “information product” you are selling one product at a time. You’re generating one time revenue. But when you change your thinking and license your information IP (intellectual Property), you receive ongoing recurring revenues. That’s because you only have to license your info IP once to get paid over and over. You receive royalties on the sales from multiple licensees who are selling hundreds or thousands of your info IP products. That’s how you create wealth.
Why would someone want to license your info product (or conversely, why would you want to license someone else’s info product)? The answer is because it saves a lot of time, work and money because your info product is already created and proven to sell.
If you already have an online business, then you can use licensing to generate more money without the additional costs. You can license info IP in many ways. These include different formats (e.g. e-books, CDs, or DVD), sales channels (e.g. direct to customer, on-line retailers) and territories or markets (e.g. domestic or international). Licensing is a shortcut to commercializing info product IP. It’s faster than trying to build your own sales channels, and you can leverage more revenue sources than selling a single product.
Ready to get started? Than get the Licensing4Profits audio course: How to Make Big Money Licensing Information Products. Here’s what you’ll learn in this audio course:
- How to leverage your info IP into multiple revenue streams
- The difference between and information product an info IP
- How licensing can double or triple your customer base and income
- Why licensing is more profitable than selling
- How to find information products to license
- How to turn any information product into a licensable “IP (Intellectual Property)
- Three key licensing strategies and how to use them to maximize your revenues
- How to use licensing to increase the value of your info IP and business
- And much, much more…
Click here to get this audio course.
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience run the gamut from medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid’s action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges and startup events. He’s a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.