A lot of y'all are a millimeter or two from the bullseye, but only one has hit the bullseye dead center:-) I AM impressed with all the responses though!
The thing that turns me on about Royalty agreements is that they don't necessarily take a large chunk of cash up front and you don't have to own the copyright or produce anything other than sales, as you might say "that's hawt " as they can be drafted on a per unit basis. Handy if you have control of a distribution channel.
Also, if you are dealing with authors outside of the IM niche, they will already be well versed on how royalties work and would be happy with more than the measly dollars most publisher pay. Of course the trick is to find IP with a non-exclusive publishing agreement.
They are like the ultimate fling - no commitment, no fuss, and all you have to do is sit back and collect some cash for every unit sold. It's like the ultimate no-strings-attached relationship, just with less drama and more money. Plus, you don't have to lift much more than a finger to get it rolling - just sit back and let the Benjamin's roll in. Perfect for lazy people in control of a distribution channel.
Like most things, it's easier said than done, but it is possible...even for a bum sitting at a library computer.
Bob, this is brilliant on sooo many levels. There are billions if not trillions worth of "Trash Can" IP assets laying around not being used...just waiting for someone to come along and put them in flow/out to a marketplace/distribution.
One dude on Planet Mojo made an offer to take peeps old courses not selling anymore (Trash can asset) and put them on course sites like Udemy, Appsumo etc...for a 50/50 share...
He was overwhelmed with an avalanche of response.
He doesn't need to create product.
Has built in traffic.
Do the work once and collect royalties.
That's not even the BIG PLAY, but I am gonna save that for our Zoom shindig!
I know you are, but what am I? Man, you're the dude with all of the brilliant ideas. I would never have gotten to this level of thinking without reading your provocative and sometimes head-spinningly confusing posts. Sometimes, when I read your stuff, I feel like Scooby-Doo doing a double take... huh? It does force me to focus on the mystery at hand, knowing all along that if I just follow the clues, there's gonna be a big fat scooby snack waiting for me.
I asked ChatGPT to take a guess at what the author is hinting at;
and this is it's answer.
Based on the information provided, it appears that the author is referring to intellectual property, such as patents, trademarks, copyrights, and royalties, as the "World's Most Lucrative, Leverageable and Little Known Asset." These types of assets can provide a recurring income stream through royalties and residuals, and can be leveraged for access to products and distribution channels. The author also mentions that it can be created from thin air, and it is always in demand. The author is encouraging readers to think about this asset class as a way to generate income and build wealth.
I do a form of this in my business, with software. I create software, and then (in addition of course to selling licenses to end users) I let people rent batches of licenses and then resell them, or even white label them to brand "as their own". Software and telephonics have been doing this for many years. No idea if this is anything close to what Travis is referring to, but it has worked well for me - can't wait to see what Travis is doing with IP! It's sure to be interesting and profitable!
A lot of y'all are a millimeter or two from the bullseye, but only one has hit the bullseye dead center:-) I AM impressed with all the responses though!
The thing that turns me on about Royalty agreements is that they don't necessarily take a large chunk of cash up front and you don't have to own the copyright or produce anything other than sales, as you might say "that's hawt " as they can be drafted on a per unit basis. Handy if you have control of a distribution channel.
Also, if you are dealing with authors outside of the IM niche, they will already be well versed on how royalties work and would be happy with more than the measly dollars most publisher pay. Of course the trick is to find IP with a non-exclusive publishing agreement.
They are like the ultimate fling - no commitment, no fuss, and all you have to do is sit back and collect some cash for every unit sold. It's like the ultimate no-strings-attached relationship, just with less drama and more money. Plus, you don't have to lift much more than a finger to get it rolling - just sit back and let the Benjamin's roll in. Perfect for lazy people in control of a distribution channel.
Like most things, it's easier said than done, but it is possible...even for a bum sitting at a library computer.
Bob, this is brilliant on sooo many levels. There are billions if not trillions worth of "Trash Can" IP assets laying around not being used...just waiting for someone to come along and put them in flow/out to a marketplace/distribution.
One dude on Planet Mojo made an offer to take peeps old courses not selling anymore (Trash can asset) and put them on course sites like Udemy, Appsumo etc...for a 50/50 share...
He was overwhelmed with an avalanche of response.
He doesn't need to create product.
Has built in traffic.
Do the work once and collect royalties.
That's not even the BIG PLAY, but I am gonna save that for our Zoom shindig!
I know you are, but what am I? Man, you're the dude with all of the brilliant ideas. I would never have gotten to this level of thinking without reading your provocative and sometimes head-spinningly confusing posts. Sometimes, when I read your stuff, I feel like Scooby-Doo doing a double take... huh? It does force me to focus on the mystery at hand, knowing all along that if I just follow the clues, there's gonna be a big fat scooby snack waiting for me.
I asked ChatGPT to take a guess at what the author is hinting at;
and this is it's answer.
Based on the information provided, it appears that the author is referring to intellectual property, such as patents, trademarks, copyrights, and royalties, as the "World's Most Lucrative, Leverageable and Little Known Asset." These types of assets can provide a recurring income stream through royalties and residuals, and can be leveraged for access to products and distribution channels. The author also mentions that it can be created from thin air, and it is always in demand. The author is encouraging readers to think about this asset class as a way to generate income and build wealth.
So, is my little chatbuddy right?
Marketing IP!
Oh no, now I have to go back a re-watch the trainings to figure this out.
In the mean time I'm agreeing with Randy - Distribution.
IP??????
PLR. Create once - sell forever.
What is PLR?
Hi Chad
PLR = Private Label Rights.
Information you purchase for the right to publish it as your own.
It's a mixed bag as to the quality of the information.
In my experience it's usually a waste of time and money since the information usually only skims the surface of the subject or is outdated.
These are usually given away as a bonus for purchases.
In my opinion giving away the information is evidence of it's dubious quality.
Email list of hungry buyers.
Intellectual property for the BIG win. :) Thanks, Travis, for waking up my brain cells.
IP, of course.
IP, which could be anything from something written on a napkin to a course or book.
I do a form of this in my business, with software. I create software, and then (in addition of course to selling licenses to end users) I let people rent batches of licenses and then resell them, or even white label them to brand "as their own". Software and telephonics have been doing this for many years. No idea if this is anything close to what Travis is referring to, but it has worked well for me - can't wait to see what Travis is doing with IP! It's sure to be interesting and profitable!
"simpler superior process" is my best gray matter guess
IP
IP. Aka: a simpler superior process
IP 😎
A SIMPLE process!