Part 5: Why Licensing Content May Be The Most Passive Income ModelJan 03, 2022
You've been trying everything — absolutely everything — to achieve passive income with your learning offer and it's not working. You want to try something new, something promising, something that's actually passive income.
Then let me introduce you to licensing content.
This business model is not new and it's definitely not new for me. But many people aren't familiar with licensing so let's unpack this.
How do licensing agreements work?
Licensing your content is one way of selling your intellectual property — the models, methods, and processes you've developed as an expert in your field. Simplified to the absolute core, licensing content has two steps: package up your content and sell it for other people to use and distribute.
Typically, licensing agreements take a few basic forms. You can sell your content to someone else to deliver and customize. You can sell access to your content on a per-user basis. With this agreement, you receive a royalty for every person that uses your course or materials without needing to do the marketing or facilitation yourself. You can also sell access to your content for an annual fee which some businesses may prefer, depending on how many users they anticipate.
What are the pros & cons of licensing content?
With licensing, you create one product that is sellable again and again — but you only have to sell it once to a business. They do all the marketing and sales work; they put in the hustle to get people into the learning container. You just maintain the product and let it sell without you.
Licensing content is truly the most passive form of passive income.
And there aren't really any drawbacks. Yes, there is a possibility that someone tries to steal your content, but you can protect yourself and protect your intellectual property through various legal mechanisms like copyright and trademarks. So you don't need to sweat it.
How can you make this work for you?
I've been working in the licensing space for years. I used to work freelance for various companies, turning their intellectual property into courses that went on to make millions for the company. Now, I've pivoted to turning my own processes, methods, and systems into courses that I license out to other businesses. This was my dream for Boost LD.
Now, my dream has morphed into a Boost Learning Community — a dream that will become a reality in the new year. A place that enables you to create and sell learning. I'm so excited to bring you all into this community! The Boost Community will be a space for learning and belonging, for giving and receiving value, and for inspiration. The community will have access to my content as well as the content I license from other experts. I couldn't be more excited.
If you're seriously considering developing a learning offer or if you're serious about improving your existing learning offer, this may just be the perfect community for you.
Stay tuned, you won't want to miss out.
Need advice from a learning strategist? Schedule a free discovery call today with Manja Horner, Founder of Boost Learning Design today to talk about your dream project.
We will Audit your existing learning and can help build your dream learning product. The longer you wait, the longer it takes to get that new learning product to market. So connect now for a call.
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