A Conversation with Paul Miller
Today we talk about licensing as a way to multiply sales exponentially.
I love how when you learn a new word or about something new, how all of a sudden that word or idea seems to appear more often than ever before, you suddenly hear this word on a daily basis and you see things in an entirely new way. Well after today’s show I started doing just that, now every time I see a Paw Patrol toothbrush in my bathroom or my son wearing his paw patrol backpack I see it much differently. I now look at my son’s backpack and realize the reason those packs are selling is that of two words “licensing rights”. That said, I am still on the fence about licensing partially because you have to have guaranteed sales volumes in order to be successful with it. It often makes me think about a line in one of Biggie Smalls rap songs.
A strong word called consignment, strictly for live men not for freshmen, if you ain’t got the clientele say hell no, cause they’re going to want there money rain sleet hail snow.
This is SO very true in the licensing game, but if you have the fortitude and the existing sales volumes to expand in this direction, this strategy is certainly worth considering. So plug in those earbuds and have a listen to Paul Miller as he talks more about using licensing as a sales strategy for growth.