The following is part of the on stage presentation to Cash on Demand subscribers at the Entrepreneurs Bootcamp.
“There are a number of ways to put together product: number one, you create your own. I’m going to show you today, after the break, a live example where we’ll actually create a whole funnel of product for a particular niche market. Now, I don’t normally share some of the niches I operate in, but this is one particular project that I’ve been bringing to the boil – decided I haven’t got time to do it. So I’m going to share it with you guys and let you have a look at it, okay?
Another way is to license other people’s product, that’s how I got started. I let somebody else do all the work; I learnt how to license other peoples products, that’s exactly how I got started.
And the other way, as Cash on Demand subscribers will know, is to joint venture with other people. Joint venture with people who have got databases of customers and products to sell.
Let’s just talk about licensing for a moment because it’s important that we understand the licensing thing, because it will become relevant this weekend. Licenses to products. There are really only two – actually there’s three – but really two major ones that will be of interest to you.
There are three types of license, there’s a silver license – jot that down, silver license. Silver license is like a reseller’s license. I’ve got a product, you get a silver license to it. You can sell that product, you send me a percentage and I ship the product out. That’s like a resellers agreement. So you’re selling on behalf of me. So I would normally bank the cash or you can bank the cash and you send me a percentage and I handle all the fulfilment and ship the product out. That’s a silver license. So the product owner maintains an interest in the product and gets a cut basically. That’s like the bottom level.
The other one that you’re going to be really interested in is the gold license. Gold license. With a gold license you get to keep 100% of all the money you make. So with a gold license, I mean this weekend for example, I’ll be allocating you some licenses. I’ll give you license to this product for example. I will give you the license to this product, you sell as many copies as you can get out to the market and you keep every single penny. Is that a better kind of license to have? Yep. Gold license, you keep. That’s how I got started. I got a license, a gold license to a product and I sold the hell out of that product. Bearing in mind when I talk about selling the hell out of a product, I’m talking about maybe 10,000 or 15,000 sales of a product. And not today, but when I started, when I was just starting out. One of my first products sold 10,000 pieces at about £50. It’s a good way to start a business!
Third one, jot it down but it’s not really relevant to what we’re doing at the moment, a platinum license. A platinum license is like the very top level license. I mean these are very rare, they hardly ever come up. They are the top, top level license. If I get time I’ll talk to you about some of those after the break.
But certainly as far as we’re concerned today we will be allocating to you gold licenses to a number of products, just to get you started. Because that was my gift really. Somebody said to me, sent me an email saying “Why are you giving us all this stuff?” Well, for two reasons really. I wanted to give you some front end gold licenses so that you can get out there – those people in the audience that are going to take action. When Bob Proctor’s finished with you this afternoon you’re going to know in here what you need to do to take action.
When you take action with those front end products I hope you’re going to be like some of my other students that will come back and say “Actually this is quite good fun. What else have you got?” And then we’ll do some joint ventures. I mean I have several joint venture partners who are previous students of mine and they’re good as gold. They send me, I call it respects. They send me like 50% of everything they make on some of these joint ventures. So I can be sat on the beach there and a million quid comes in from somewhere because the guys out there joint venturing. All because I started off giving a gift of some gold licenses. That’s what I’m hoping to find in this room today, a number of people that will end up in that situation joint venturing with me on other products. So it’s a very good commercial reason for me giving you those.
The other reason that I wanted to give you those was I wanted you to come along this weekend. It’s probably just worth reminding ourselves actually why we’re here this weekend. I wanted to raise money for the Great Ormond Street Children’s Charity….”