9 Steps to Build a Million Dollar Licensing Lifestyle Business

“9 Steps to Building a
Million Dollar Licensing
Lifestyle Business.. Even If
You Are Starting From Scratch”
Presenter: Hung Le

Let’s flip everything you know about business..

The most underrated skill..
Income Generating Assets$5 Trillion Industry - USPTO

YOU (connector) = royalties $
Breakthrough ideas Companies looking to license..
The most underrated skill..

Who is Hung Le?
● Born and raised in Perth, Western Australia
but now a global traveller (Philippines,
Singapore, Australia and United States).
● Engineer (Mechanical) turned Entrepreneur
since 2009.
● Built and sold 2 companies:
○ Mobile app business (6 figures) in
2012.
○ Digital marketing agency with 40 staff
in the Philippines (7 figures) in 2014.

Who is Hung Le?
● Business growth advisor,
licensing strategist, deal maker
and mentor who LOVES
travelling to entrepreneurial
events, mastermind retreats
and is obsessed with helping
entrepreneurs build dream
businesses, FAST.

DISCLAIMER:
I am NOT guaranteeing you will achieve the
same results.. However..

Let me share with you ‘why’ I LOVE what I do...
[3 “Winning” Case Stories]

Case Story #1: Brendan Monahan
Closed a $29,500 deal.
Repositioned his business and value
proposition to focus on a ‘niche’ as
oppose to be everything to
everyone.

Case Story #2:
Guus Goorts
Went from $5k/mo to well over
$20k/mo and beyond (300%+ net
growth) in less than 4 months.
Pinpointed Guus’s strengths and
hidden skills set.

Case Story #3:
Mark Kirk
Scaled rapidly from $17k/month to
$60k/month in less than 6 months
(+250%+ growth) NOW on $200k/month+
Pinpointed Mark’s leverage points and
removed core constraints (both personal
and business).

Here Are the Secrets I Will Teach YOU..
Licensing >
Passive Income Wealth vs. Income Wealth Trifecta
3?
1?
2?
Wealth

Here Are the Secrets I Will Teach YOU..
REAL Freedom
business.
IP -> Income
Generating Asset
Work anywhere,
live anywhere

Why This is Crazy Different:
Traditional Way 3) Multiplier effect (10X)
1)Nohands
2)Nopresence
Licensing
VS.

Why NOW?
The GAME has changed..

Shift#1: Open Innovation
“The world’s smartest
people most probably
aren’t working for your
company” -
Larry Ellison,
Co-founder of Oracle

Shift#2: Power of One
We’re redefining the
future of ‘work’.
The ‘connection
economy’ has arrived.

Shift#3: World of Abundance.
Access > Ownership.
Economies of speed
>Economies of scale.

Is This For You?
● Frustrated with where you are financially in life.
● Confused about what path to take - pulled in all different directions.
● Lonely because you don’t get to do the things you want or see the people
who matter most in your life.
● Self-doubt and wondering ‘what’s wrong with me?’
● Tired of all the hyped up courses out there that over promise and under
deliver leaving you more frustrated and in debt than when you originally
started.

Let’s make a deal..
● NO “get rich quick”.
● NO “do nothing, get paid”.
● NO “MLM // pyramid”
scheme lovers.

Crossroads..
Option 1: Give Up Option2: Crush It

Crossroads..
Option2: Crush it

“If I lost everything today, what would be
the most strategic approach to building a
million dollar lifestyle business tomorrow
without sacrificing long-term gain?”
The Million Dollar Question

The recipe I’m about to share..

As a result I created..
“Licensing Lifestyle” System

Even IF you have..
● NO Product.
● NO Existing Customers.
● NO Email List.
● NO Social Media Following.
● NO Experience.
● NO Connections.
● NO “Credibility”.
● NO Sales OR Technical skills.
● NO Business!

The “5” Licensing Myths BUSTED

Myth#1: Licensing is a legal process.
The most important
part of licensing is
knowing how to make
money with it.

Myth#2: Licensing is too complicated.
To ‘smartcut’ the
process we are going
to leverage already
proven intellectual
property that is ready
for licensing.

Myth#3: Licensing doesn’t work for me
You are only as
limited as your
imagination.

Myth#4: Licensing partners are hard
to find..
My 9 step “licensing
lifestyle” system will
teach you how to
connect with anyone.

Myth#5: Licensing requires you to be a
certified professional
Alphabet soup isn’t
necessary..
It’s WHO sells the
soup that wins.

Breakthrough moment coming soon..

The “Licensing Lifestyle” System..
Ready?

Licensing Nomenclature
WTF is “intellectual property (IP)” anyway?
● Fancy legal definition: “creations of the mind, such as
inventions; literary and artistic works; designs; and
symbols, names and images used in commerce”.
● Money making definition: intangible assets that hold
underutilized and untapped monetary value.

WTF is “licensing” anyway?
● Fancy legal definition: “an arrangement whereby a
licensor grants the right to intangible property to
another entity for a specified period, and in return,
the licensor receives a royalty fee from the licensee”.
● Money making definition: the process of transforming
intellectual property into income generating assets.

Parties acting in the interest of the deal..
❖ Licensor (inventors): the party that grants the license
(i.e. party that created the IP).
❖ Licensee (BIG companies): the party that receives the
license (i.e. pays YOU the royalties $).

The “Licensing Lifestyle” System (IDEAL Situation)

9 Steps of the “Licensing Lifestyle” System
1. Choose a Niche and Commit.
2. Identify Potential Companies.
3. Connect with Potential Companies.
4. Identify Potential Inventors’
5. Connect with Potential Inventors’

6. Send sub-licensing rep agreement.
7. Extract Pitch deck.
8. Qualify a potential company (company-inventor fit).
9. Send licensing agreement to company (WIN the deal).
9 Steps of the “Licensing Lifestyle” System

Step(1): Choose a niche and commit.

Rich is in the niche:
Who (niche?) do I care most about helping in order to
solve a painful problem(s) and may already be a
consumer of?
● Check your household.
● Check your purchases and buying habits.
● Check what email lists you are subscribed to.

Master Your “Pitch”
1. “I help [niche] companies leverage open innovation in
order to achieve an unfair advantage” OR.
2. “I help [niche] companies transform breakthrough
ideas into income generating assets”.

Master Your “Pitch”
● Practice this in the mirror 3x times a day min. Until it
becomes second-nature.
● Add this to your websites, social media profiles,
email signatures, etc.

Personal Branding.
● Simple and Relevant domain (www.yourname.com).
● Simple Personal Branding website (e.g.
www.WiseIntro.co).
● LinkedIn Profile + other social media profiles.

Step(2): Identify Potential Companies.

Creating Your Dream 100 (5 sources)
1. Create, Find or Purchase an Existing Lists of Your “Dream 100” Clients
(e.g. Inc 5000, Fortune 1000, etc.).
2. Google: “niche” lists/”niche” associations (e.g. ASAE: American Society
of Association Executives).
3. LinkedIn Advanced Search (LI Premium OR LI Sales Navigator is
required).
4. www.Data.world (my SECRET weapon - save >$2,500).
5. www.SalesRipe.com (awesome founders).

Find the Decision Makers
1. Company Org Charts.
2. LinkedIn Sales Navigator/LinkedIn Premium (Which
one?)
3. AdData Express
4. RelSci (Relationship Capital Platform)

Company Org Charts:
www.TheOfficialBoard.com

Company Org Charts:
www.WikiOrgCharts.com

LinkedIn Premium:
www.premium.LinkedIn.com

LinkedIn Sales Navigator:
www.business.linkedin.com/sales-solutions/
sales-navigator

AdData Express: www.AdDataExpress.com

Why Research the Decision Makers?
● Personalization = differentiation.
● Take note of the Decision Maker’s contact details:
LinkedIn Profile URL, Twitter Profile URL, Executive
email contact, Executive direct line (contact number).

Organize Your Dream 100 List
Google Sheets Microsoft Excel

Organize Your Dream 100 List
www.Pipedrive.com (Recommended)

Step(3): Connect with Potential Companies

Email Tracking Solutions (suggested)
https://www.yesware.com https://www.bananatag.com

Breakthrough Email (companies):
Subject: appropriate person
Hi [first name],
I'm not sure if I'm sending this to the right person..
But can you tell me who is responsible for the
[open innovation|product management] division of [company name]?
If it's not you, who do you suggest I talk to?
Thanks in advance for helping me out.
-Name
Personalize
Split test..

Once you get referred.. (thank you)
Subject: [Name of referrer], thank you
Thanks for getting back to me and referring me
to the appropriate person. I will connect with
[Name of referral].
If we get traction, I will certainly keep you
updated.
Thanks again,
[Your signature]
We may need
the trusted
referrer to help
us follow up in
the near
future.

Breakthrough Email (referral)
Subject: via [referrer's first name]
[Name], by way of introduction, [referrer’'s first
name] said it made sense for us to talk about open
innovation ideas for [company name].
Quick question, what ideas are you currently
looking for?
Happy to help.
Talk soon
-[name]
Short and sweet.

Once you get a response..
Subject: RE: via [referrer's first name]
[Name], thanks for your prompt response. I’m sure I
can find a wide array of breakthrough ideas to
support exactly what you need. Let me talk to my
pool of inventors and top notch designers and I’ll
immediately contact you once I do.
Sound good?
-[name]
Open loop.

Step(4): Identify Potential Inventors’

Inventors: Crowdfunding Sites
https://www.kickstarter.com

Inventors: Crowdfunding Sites
https://www.indiegogo.com

What is “Equity Crowdfunding”?

Inventors: Equity Crowdfunding Sites
https://wefunder.com

Inventors: Equity Crowdfunding Sites
https://circleup.com

Inventors: NASA
https://technology.nasa.gov/patents

Inventors: Reality Inventor Shows

Inventors: IP Exchanges.
https://secure.ipnexus.com/en/search

Inventors: IP Exchanges.
https://www.ipexchange.global/

Inventors: Upwork.
https://www.upwork.com

Inventors: Industrial Design Schools
http://www.idsa.org/education/id-schools

Step(5): Connect with Potential Inventors’

Breakthrough Email (inventors):
Subject: potential partnership with [BIG company name]
Hi [first name],
My client, [company name] would like to know if you are open to
licensing the design of [name of product]? Give a quick
no thanks or yes interested -Name
Leveraging
the
‘credibility’ of
the BIG
company’s
brand.

Common response(s)
“Yes interested. Send through your terms”
“Yes interested. Tell me more.”
“Yes interested. What’s involved?”

Breakthrough Email (inventors):
Subject: RE: potential partnership with [BIG company name]
Thanks for your prompt response [name].
A sample sub-licensing agreement for the design of [product name] would include but not limited to:
1. Allowing me to present your breakthrough design to interested companies who are looking to license it in
exchange for generous royalties.
2. A 50/50 remuneration split.
3. Exclusivity duration whereby if I cannot cut a deal in 6 months or less, you receive the sub-license back.
No questions asked because your success is my success.
If you agree that it is worth talking about and the fit may be there let's have a follow up call.
Would a call sometime around next Wednesday work?
Alternatively, you can book a meeting via my scheduler:
www.OnlineScheduler.com
-[First name]

YOU
Inventor
Breakthrough Phone Call (inventors):

Set the Frame
“I’m really excited that we could both set aside 30mins to
talk about how we can help you sub-license [product
name] in exchange for generous royalties from my [niche]
clients. Let’s begin with a few questions:”..

● How did you get started in this business? (connection)
● If we were to have this conversation in 12 months
time, what would have had to happen in order for you
to be happy with our progress? (future pacing).
● Do you have all the money, manpower and time you
need to achieve this goal? (identifying the problem).

● If you could pitch your product in one sentence or less,
what would it be?
● What are the benefits and features of your product?
● Do you have a short demo video of your product?

● Do you have a patent (provisional or non-provisional)?
● If so, what’s the patent number/code?
● How much does it cost to manufacture each unit?
● What is a general retail price point/range?

End the Call
“Great. I’ve got exactly what my client [company name]
is looking for. I’ll send through a draft sub-licensing
agreement and we can take it from there. Sound good?
Great. Have a brilliant day ahead and talk soon”..

Licensing Power Tip
“The person who asks the questions
controls the outcome”.

Step(6): Send Sub-licensing Rep Agreement

Ready made templates:
www.PandoDoc.com
Import existing templates:
www.HelloSign.com
Proposal/Agreement Templates:

An irresistible sub-licensing agreement should have:
1. Allow you to present to potential licensees (i.e. companies who will
license the IP).
2. Exclusivity duration - 6 months to cut a deal otherwise you’ll return the
sub-license back (i.e. risk reversal).
3. Remuneration agreement - 50/50 (be generous - it pays off lifelong
dividends).
4. Frequency of royalty payments - dependant upon licensee (i.e. company
structure).
5. Request for licensor (i.e. inventor’s) payment details.

Pitch Deck Solutions:
https://slidebean.com https://www.google.com/slides/
about/

A Winning Pitch Deck (10 slides):
1. The BIG Idea (one-line benefit statement)
2. What’s Changing (3 market forces: economic, social
and technological)
3. Problem (what significant problem(s) is nobody else
solving?)
4. Generic Solutions (Existing alternatives)
5. Our Solution (insert video DEMO here)

A Winning Pitch Deck (10 slides):
6. Value Proposition (company specific value proposition)
7. Economics (potential for gain)
8. Social Proof (existing sales $, product testimonials,
media mentions,etc. = negotiating power!!)
9. Prizing (exclusivity is on a first-come first-serve basis)
10.Call to Action (i.e. invite for booking a meeting)

Step(8): Qualify a Potential Company.

Breakthrough Follow Up (companies):
Subject: {potential breakthrough|worth considering?|just found it|good news}
Hi [name],
Good news.
I’ve just found a breakthrough idea/design that will help [company] achieve [x goal] as mentioned
in our previous conversation.
Here is a link to the overview: www.PitchDeck.com .
If you agree that it is worth talking about and the fit may be there let's have a follow up call.
Would a call sometime around next Wednesday work?
Alternatively, you can book a meeting via my scheduler:
www.OnlineScheduler.com
-[First name]

Licensing Power Tip
“Direct mail an oversized ‘gift’ with a handwritten
letter and the pitch deck (physical print version)
to get the phone ringing”.

[One-Page Handwritten Letter Template]:
___________________________________
Hi [name],
I’ve finally found the missing piece to our
puzzle. Here it is: www.PitchDeck.com
Let’s solve it together.
-Name
-Contact email.
-Contact number
-Link to online scheduler.
Breakthrough Follow Up (companies):

Licensing Power Tip (before call)
“Check the companies’ and their websites
for existing ‘licensing templates’.

YOU
Company
Breakthrough Phone Call (companies):

Set the Frame
“I’m really excited to talk more about how we can turn
this design into dollars for [company]. I’m curious, what
would inspire you to progress forward with this
breakthrough idea/design?”

● How much sales volume do you anticipate that we can
do? (i.e. 10,000//100k//1 million units?).
● What royalty arrangement do you believe is fair? 5%?
7%? (hopefully you can find this from existing licensing
agreements on their website..).
● Are you looking for an exclusive or non-exclusive
license? Niche/Product Category/Geographical?

● Legal inclusivity - if a competitor of the company
infringes the license then the company will seek legal
action inclusive of your royalties.
● No licensing fees upfront (i.e. risk reversal). However,
they agree to pay for the necessary patents.
● What is the frequency of your royalty payments
schedule? 1 month/3 months/6 months?

End the Call
“Great. I’ve got exactly what my client (i.e.
inventor/designer) needs. How about I send through a
draft licensing agreement within the next 48 hours and we
can take it from there. Sound good? Great. Have a
brilliant day ahead and talk soon”..

Step(9): Send Licensing Agreement to Company

Proposal/Agreement Templates:
Ready made templates:
www.PandoDoc.com
Import existing templates:
www.HelloSign.com

An irresistible licensing agreement should include:
● Anticipated sales volume (i.e. units not $).
● Royalty arrangement -5%/7% of wholesale price?
● Frequency of royalty payments - dependant upon
licensee (i.e. company structure).

● Minimum Guarantee - $100k, $250k, etc. (regardless of
performance) for 1st/2nd/3rd/4th/5th year) = SECRET
weapon.
● Exclusive or non-exclusivity?
● Legal inclusivity (if a competitor infringes the
company’s license..).

● No licensing fees upfront however company agrees to
cover cost of patents where necessary.
● Your payment details (you control the flow of capital
in this deal).
● Access to their accounting files and potential audits.
● Acquisition clause.

Keep negotiating until you hear..
YES!!

The “Licensing Lifestyle” System (Summary)

Licensing Power Tip
Guard your network as if your life depends on it..

Would You Like Me to Personally
Help You Build a Million Dollar
Licensing Lifestyle Business?
OR… the “link” in the description

How many deals do I need to WIN in order to build a
million dollar licensing lifestyle business?
$100k minimum guarantee = 10 deals per year

What to DO Next?
● DON’T procrastinate and let any AHA moments go to
waste. Get started NOW!
● DO be flexible, yet committed. Not all deals will go
your way but entrepreneurship is ALL about resilience.

THANKS!
How did you go?
Please share this video with fellow
entrepreneurs who are looking to build
a million dollar licensing lifestyle
business :)

9 Steps to Build a Million Dollar Licensing Lifestyle Business

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