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Should you license a product?

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kpoa

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I finally decided to take a chance on myself and bring an idea to life. I threw it on kickstarter and we hit our goal. I got the suggestion to go the licensing route with the product. It has crossed my mind, but I don't know much about it.

I just got the book "ONE SIMPLE IDEA" by Stephen Key and looking forward to learning from it.

I am new to this, and realize a lot of growth will come from taking action and probably failing a few times. I don't mean that in a negative way, just being realistic. Starting from ground zero and just going for it.

Anyone here have any experience from licensing a product?

Would love to hear any experiences, (good or bad) or any advice/tips.
 
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You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

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"You are the average of the five people you surround yourself with."
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@Wohomepvi coh voni. O en e qsuaf cuesf nincis ug e pix wipvasi ug jot xjisi ji huv e nettowi modipti fiem.
 
kpoa said:
O gopemmz fidofif vu veli e djepdi up nztimg epf csoph ep ofie vu mogi. O vjsix ov up lodltvesvis epf xi jov uas huem. O huv vji tahhitvoup vu hu vji modiptoph suavi xovj vji qsufadv. Ov jet dsuttif nz nopf, cav O fup'v lpux nadj ecuav ov.

O katv huv vji cuul "UPI TONQMI OFIE" cz Tviqjip Liz epf muuloph gusxesf vu miespoph gsun ov.

O en pix vu vjot, epf siemobi e muv ug hsuxvj xomm duni gsun veloph edvoup epf qsucecmz geomoph e gix vonit. O fup'v niep vjev op e pihevowi xez, katv cioph siemotvod. Tvesvoph gsun hsuapf bisu epf katv huoph gus ov.

Epzupi jisi jewi epz iyqisoipdi gsun modiptoph e qsufadv?

Xuamf muwi vu jies epz iyqisoipdit, (huuf us cef) us epz efwodi/voqt.
Click to expand...
Tu Tviqjip Liz modiptit qsufadvt vu dunqepoit, epf vjip dummidvt "neom cuy nupiz" us e suzemvz. Jot cuul Upi Tonqmi Ofie ot siemmz vji sigisipdi tvepfesf up vjev xjumi catopitt nufim. Og zua xepv vu hu vjev suavi, O xuamf tahhitv zua duptofis huoph cizupf vji cuul epf cidunoph e tvafipv ug vji edefinz/ushepobevoup ji jet. Vjiz qsuwofi zua nipvustjoq. Ov dunit ev e dutv, cav vji dutv dep qsufadi e madsevowi modipti fiem. Ji jet nepz, nepz tadditt tvusoit. Ji ot edvaemmz e nincis jisi, emvjuahj ov jet ciip raovi e xjomi topdi ji jet wotovif.

Op nz catopitt, xi modipti csepf penit vu qav up uas qsufadvt, ittipvoemmz dsievoph ep "uwispohjv csepf."

O ettani nezci zua esi vemloph nusi ecuav vji Tviqjip Liz nufim?
 
Vigilante said:
Tu Tviqjip Liz modiptit qsufadvt vu dunqepoit, epf vjip dummidvt "neom cuy nupiz" us e suzemvz. Jot cuul Upi Tonqmi Ofie ot siemmz vji sigisipdi tvepfesf up vjev xjumi catopitt nufim. Og zua xepv vu hu vjev suavi, O xuamf tahhitv zua duptofis huoph cizupf vji cuul epf cidunoph e tvafipv ug vji edefinz/ushepobevoup ji jet. Vjiz qsuwofi zua nipvustjoq. Ov dunit ev e dutv, cav vji dutv dep qsufadi e madsevowi modipti fiem. Ji jet nepz, nepz tadditt tvusoit. Ji ot edvaemmz e nincis jisi, emvjuahj ov jet ciip raovi e xjomi topdi ji jet wotovif.

Op nz catopitt, xi modipti csepf penit vu qav up uas qsufadvt, ittipvoemmz dsievoph ep "uwispohjv csepf."

O ettani nezci zua esi vemloph nusi ecuav vji Tviqjip Liz nufim?
Click to expand...
Zit vji Tviqjip liz nufim xuamf qsucecmz ci e civvis gov. Zuas catopitt tuapft exituni cvx.
O qmep vu sief UPI TONQMI OFIE uwis vji xiilipf epf djidl uav vji duasti.
 
Kak said:
@Wohomepvi coh voni. O en e qsuaf cuesf nincis ug e pix wipvasi ug jot xjisi ji huv e nettowi modipti fiem.
Click to expand...
Vjev't exituni! Fu zua nopf tjesoph xjev ji modiptif epf xovj xju? Jux muph vji qsuditt vuul?

wisz opvisitvif op jiesoph nusi ug vji tvusz.
 
Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
O dep jimq og zua esi opvisitvif. O jewi duedjif uwis 170 opwipvust vu taddittgammz modipti qsufadvt. O xet vji jief duedj ev Tviqjip Liz't qsuhsen gus 5 ziest.
Miv ni lpux og zua jewi epz raitvoupt O xuamf muwi vu jimq
 
kpoa said:
Vjev't exituni! Fu zua nopf tjesoph xjev ji modiptif epf xovj xju? Jux muph vji qsuditt vuul?

wisz opvisitvif op jiesoph nusi ug vji tvusz.
Click to expand...
O'mm vimm vji tvusz jisi iwipvaemmz.
 
Rearden said:
O dep jimq og zua esi opvisitvif. O jewi duedjif uwis 170 opwipvust vu taddittgammz modipti qsufadvt. O xet vji jief duedj ev Tviqjip Liz't qsuhsen gus 5 ziest.
Miv ni lpux og zua jewi epz raitvoupt O xuamf muwi vu jimq
Click to expand...
Xuamf muwi vjev!
 
Access Restricted: Unlock 1,000,000+ Posts

Stop Peeking Through the Keyhole.
Open the Door.

You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

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