Licensing Can Work for Small Businesses Too

Licensing Can Work for Small Businesses Too

Normally the subject of licensing wouldn’t come in a Bootstrapping context since there usually is an up-front cash payment along with a guarantee related to securing a license. These two factors could be substantial using a high visibility license, for example, Mickey Mouse, NFL football, Nike, Armani, etc. However, I bring it up here for two reasons:

In the early stages of one’s business, a fantastic license offers advantages as well as potential pitfalls. Early knowledge of the how-tos of licensing can assist you in identifying license opportunities and ways to exploit them. I believe there are several niche licenses in the early stages of your respective company where no cash up-front is essential plus your only payments are royalties (a Variable Expense). One example of this is in our second year within the watch business (A mature industry with many large companies).

Licensing Can Work for Small Businesses Too

We secured this wristwatch license for that Wizard of Oz and Gone with the Wind. We paid no up-front monies, just a royalty on shipments. It was a not-in-demand license; there was good marketing experience with other industries; first and foremost, our plan to sell to a distinct segment market (Direct Response Companies and Collectibles) was appreciated. We were successful and gained needed credibility in the new field for us. This led us to eventually secure licenses for Elvis Presley, the NFL, NASCAR, Precious Moments, and others. Our concentration on untapped watch markets and our unique watches powered our success.

Here can be a short tutorial about the licensing industry.

First, Licensing is the process whereby one company uses the trademark, property, or brand name of one other company in substitution for some type of compensation. In most cases, the licensor grants the licensee some sort of exclusivity-perhaps geographical, perhaps by-product, perhaps by distribution channel. Most often, …

Is Your Business Visible?

Is Your Business Visible?

Today I designed a telephone call with a local dentist as part of my duties being an ambassador for the local Chamber of Commerce. I always find out there is something the Chamber can do for your business when I make these calls. His response was “Send me business.” Keep in mind that we live in a comparatively small town and I had never been aware of this dentist – in my experience, he was not visible.

What can you do to raise your visibility?

Make good usage of any local affiliations. Are you an affiliate of your local Chamber of Commerce, Rotary Club, or any other organization? Do you be involved in events that can be hosted by these organizations? Make sure these affiliations are from your site – in text, not only their logos (understand that engines like google can’t read images.) Make sure that you list those affiliations on social media marketing sites for example Linkedin. Also, if you create a listing on local engines like google such as, make certain your affiliations are part of your description. People want to see that you will be linked to your community.

Is Your Business Visible?

Build an internet reputation as well as an offline reputation. Search your business name. Are you picking out not merely your website, but additionally your profile on social media sites? How about search directories such as? Don’t have a web-based reputation? Start today to build one. Block out a group time frame every day to dedicate to building your online reputation. This does not need to be a big block of energy but it must be consistent. Make sure that you will be doing several things weekly. Examples can be:

Daily – Update your status in your Facebook Fan Page, LinkedIn, or any other sites that your …