Do Yur First Licensing Deal PLAYBOOK (A.I.Royalty Rockstar-style)

I asked A.I. to write me a simple playbook based off the New Money from Old Courses training and other posts in the group…

… for use to structure my first licensing deal, even if I'm a complete beginner and don't have my own IP to rent out.

Here’s that Playbook:

(complete with examples, how-to’s and Travis-style tips included)

*** Reader beware - there’s more hyperlinked reference posts in here than a new car dealership full of wacky waving inflatable arm flailing tube men ***

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Step 1. Find IP to License (or Distribution to Control)

- Look for "trash can assets" - old/current courses or content creators aren't actively using (or in the same way you want to use it)

- Example: Travis licensed a webinar recording in just 8 lines over Facebook Messenger

- How-to: Reach out to past customers or subscribers: "Hey, I noticed you created [product]. Are you still actively selling it? I might have some ideas to breathe new life into it."

- Check the Welcome Start Here post comments. Lot of IP owners introducing themselves there!

Travis-style tip: "Don't be afraid to start small! Even a single email template or sales letter can be licensed and turn into a steady income stream. Remember, you could license an email for $1,000 that might bring in royalties for years!" [Want more Loot? LICENSING not WRITING is the answer...]

Travis-style distribution-first approach: "If you're starting from scratch, consider finding someone with an audience first. Approach influencers or businesses in your niche and ask if they're open to collaborations. Once you have a 'yes', you can then go find the perfect product to match their audience's needs." [Newbie question comments]

Step 2. Research the Market

- Use the N.E.E.R. (Naturally Existing Economic Relationship) method [New Money From Old Courses and Content]

- Example: For a martial arts course, approach uniform suppliers - they benefit when schools they service have more students

- How-to: Look at industry magazines, conference sponsor lists, or accounts payable of potential licensees

Travis-style tip: "Get creative with your research! Look at podcast episode titles or YouTube video topics in your niche. They're usually addressing problems their audience has – perfect for finding licensing opportunities!" [Rockstar of the Day (and Outreach Advice)]

Travis-style tip for distribution-first: "When looking at potential distribution partners, pay attention to the problems they mention their audience has. This will guide you in finding or creating the right IP to license to them later."

Step 3. Prepare Your Outreach

- Focus on solving a specific problem their audience has

- Script example for relationship niche:

"Are your people in LDRs (long-distance relationships)?"

"Do they ever send you looong emails about their breakups?"

"It's crazy how long they are! Do you help your people in LDRs going through breakups now?"

Travis-style tip: "Remember, you're not selling licensing – you're solving problems! If you can point to a specific pain their audience has, you're halfway to a deal already."

Travis-style tip for distribution-first: "When reaching out to potential distribution partners, focus on their audience's needs. You might say something like, 'I noticed your audience often asks about X. Would you be open to discussing ways we could help solve that problem for them?'"

Step 4. Make Initial Contact [Convo Openers Playbook]

- Avoid generic messages that could be copy-pasted

- Example: For a finance influencer who just moved to Dubai and is doing unedited videos:

"Hey, congrats on moving to Dubai! I may be in the minority, but I really love your unedited videos. They seem so much more personal."

Travis-style tip: "Don't overthink it! Sometimes a simple, genuine compliment about something specific they're doing can open doors. Just make sure it's something that couldn't be copy-pasted to anyone else."

Travis-style tip for distribution-first: "When contacting potential distribution partners, be genuinely curious about their business and audience. You're not selling anything yet - you're just exploring possibilities. This approach often leads to unexpected opportunities."

Step 5. Build A Deal (BAD Method)

- Get them to suggest the split first

- Script: "I want to make this a no-brainer for you. What kind of split would make this absolutely dreamy for you?"

- Be flexible - Travis often starts with 50/50 but adjusts based on value added

Travis-style tip: "Remember, it's a collaboration, not a negotiation! Be open to creative deal structures. You could do deals where you get $10 per sale, others where it's a percentage, and some where you get a flat fee upfront. The key is making it work for both parties." [10 Minute DM = 1000 bucks per Month in Royalties]

Travis-style tip for distribution-first: "If you're starting with distribution, your deal might look different. You could offer to find or create a solution for their audience's problem in exchange for access to their distribution channels. Be creative!"

Step 6. Create the Agreement

- Use a template from "The Complete Book of Licensing"

- Travis offers his template to those who purchase the book

- Include a video reading through the agreement and explaining key terms like derivative works, exclusivity, etc.

Travis-style tip: "Keep it simple! 1-2 pages. You don't need a 50-page contract to start. Focus on the key points: what's being licensed, for how long, for how much, and any restrictions. You can always refine it later."

Travis-style tip for distribution-first: "When creating an agreement for distribution rights, consider including clauses about product approval and revenue sharing for future products. This gives you flexibility to bring in different IPs over time."

Step 7. Launch and Support

- Offer to help with marketing if needed

- Example: Travis sometimes offers to write emails or create marketing materials as part of the deal

- How-to: "Would it help if I put together some email copy to introduce this to your list?"

Travis-style tip: "Go the extra mile in the beginning. Offering to help with marketing or setup can make your deal much more attractive. Plus, it gives you valuable experience for future deals!"

Travis-style tip for distribution-first: "If you secured distribution first, now's the time to find or create the perfect product. Look for existing products that solve the problem you identified, or consider partnering with an expert to create something new."

Step 8. Rinse and Repeat

- Start with your own audience first

- Example: Travis polled his group of 200 past buyers and got 85 interested in licensing [30 Licensing Deals, $60k in 12 days from 1 poll...]

- How-to: "Hey, I'm thinking of letting a few select people sell [your product] and keep most of the profits. Would you be interested in discussing?"

Travis-style tip: "Don't be shy about reaching out to your own network first. These people already know and trust you. Even if they don't want to license something, they might know someone who does. It's all about getting the ball rolling!" [Fast Start Plan to get Royalties ROLLIN!]

Travis-style tip for distribution-first: "Once you have a successful distribution partnership, you can leverage that to attract product creators. Tell them, 'I have access to X number of potential customers in this niche. Do you have a product that could serve them?'"

Remember Travis' overall philosophy [Turned $25 and a Pinball Machine into Billions]:

"Licensing is like fishing. If you know how to fish, you'll always eat well. You don't have to buy the land to build a lake, stock it with fish, wait for them to grow and raise your own worms. If you know how to license, you can get access to all of that stuff TODAY and eat good tonight!"

Additional Travis-style tip for beginners: "Don't get hung up on having your own product. Remember, you can start by renting out other people's IP. Focus on solving problems and connecting the dots between products and audiences. That's where the real magic happens!" [Royalty Payment Porn]

Hope this is helpful.

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