Dao
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- Joined
- Jul 17, 2012
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Hey guys. I have a question that's been troubling me for quite some time.
Some of the products that I plan to create for my business will be using a system of understanding and learning language that a good friend of mine has developed. I will be taking her system and developing methodologies for its implementation, and then creating info products based on the methodologies/system.
I will be doing all the work; business development, product creation, marketing, customer support, etc. However, she has put a lot of time into developing the system that I would like to base some of the product lines on. The problem is, I'm not sure how to compensate her for the use/licensing of her system.
I'm really stuck on this. Do I give her a percentage of sales? If so, what would be fair?
I had a free consultation with an online marketing coach a few days ago, and he suggested that I not even bother with her system, since according to him 'product creation is secondary; really it's all just marketing.' However, her system is pretty revolutionary and I think some products based on the system could be really big. I'd also like to see her reap some rewards from her efforts in putting the system together, while profiting nicely from it myself.
How to deal with this sort of situation? Any advice is greatly appreciated!
Some of the products that I plan to create for my business will be using a system of understanding and learning language that a good friend of mine has developed. I will be taking her system and developing methodologies for its implementation, and then creating info products based on the methodologies/system.
I will be doing all the work; business development, product creation, marketing, customer support, etc. However, she has put a lot of time into developing the system that I would like to base some of the product lines on. The problem is, I'm not sure how to compensate her for the use/licensing of her system.
I'm really stuck on this. Do I give her a percentage of sales? If so, what would be fair?
I had a free consultation with an online marketing coach a few days ago, and he suggested that I not even bother with her system, since according to him 'product creation is secondary; really it's all just marketing.' However, her system is pretty revolutionary and I think some products based on the system could be really big. I'd also like to see her reap some rewards from her efforts in putting the system together, while profiting nicely from it myself.
How to deal with this sort of situation? Any advice is greatly appreciated!
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