# 31 - Licensing potential and control dynamics to Lego models with James Foster

The Money Mindset Mentoring Podcast

In this episode, Steve Hamoen and guest James Foster explore the potential of licensing, its benefits over affiliate deals, and its role in different-sized businesses. They discuss negotiating beneficial deals, aligning with customer values, and compensation structures. They conclude with insights into the Lego model and the transition from a creator to a producer mindset.

James Foster:

https://www.linkedin.com/in/jamesmakesdeals/ https://big-mojo.mykajabi.com/8figurelicensingmojo Bio: James can help turn Your OLD Stuff into Multiple NEW Income Streams WITHOUT Taking on More Clients, Chasing After New Leads or Changing Your Whole Biz Model...

(0:00) Introduction and overview of the episode (1:33) The potential and advantages of licensing (5:29) The long-term benefits and control dynamics of licensing over affiliate deals (8:08) Scope of licensing in small businesses and large corporations (11:31) The impact of experience level on the success of licensing deals (14:15) Negotiating beneficial licensing deals and comparing licensing in different industries (19:02) Connecting with the customer's higher value model for successful licensing (22:50) Compensation structure for licensing agents and evaluating the success rate of licensing deals (26:51) Transitioning from selling bricks to building sets: The Lego model (31:55) Transitioning from a creator to a producer mindset and the role of a licensing producer