Monetising your IP
I recently spoke at an online meeting of other speakers about Monetising our IP. Most speakers do not earn a great living by simply speaking so we all have to find ways to convert our intellectual property into an income.
The following are some notes from that session just to give you some ideas to work with.
Once you have written and published your first book you can sell it at the back of the room where you speak, convert it to an ebook (https://www.smashwords.com), record it as an audio product (CD or Mp3) or maybe even turn it into a movie. A good example of this is Chris Bertish (http://www.oceandrivenfilm.com/)
Video is also a very powerful product and may be the future of the speaking industry. Video everything! Not only can you use the video of your presentation to improve your performance for next time but you can also sell the videoed material.
- DVD – Sell the DVD at the back of the room or online
- CDs – the soundtrack from your DVD
- MP3s – Same Sound Track
- Mp4s – Same as video
I will be running an afternoon session on creating video to monetise your IP on the 7th October 2016 in Johannesburg as part of the mid-term convention for the PSASA. Click here to book https://confco.eventsair.com/psasa-2016-midterm-convention/psasa2016
A very easy way to monetise your IP is to sell your products online. If you don’t want the hassle of creating your own website to sell your stuff try www.createspace.com. They will take your books, ebooks and DVDs etc., and advertise them on amazon.com. When they are purchased they will print the book or DVD, send it to the purchaser and send you a cheque. You have to do nothing apart from marketing the products. Very Clever!
Apart from the back of the room sales you may also sell the products to your clients directly or get them to CNA or Exclusive books. That’s not as easy as it sounds but it is worth the effort.
Your video can be cut into clips for Vimeo and Youtube. I have recently Monetised 3 of my videos on YouTube and am earning about $100 a month. I know it is not a lot but it all adds up.
Also consider other creative products
- Playing Cards
- Thought for the day diary
- Flash Drive – Douglas Kruger Published his ebooks on flash drives and sells them
- Decision Maker Dice / Spinning Disk
- First Aid Kits
- Decision Balls – One of Jurgen Tietz’s great ideas (Jurgen is the master of creative products)
Then consider turning your video into training courses
- E-Learning – Udemy – Teachable – http://niche-training-on-line.usefedora.com/courses
- Micro Learning – http://nichetraining.co.za/micro-learning/
- Sell complete courses for others to present
- 52 Week programme https://richardmulvey.com/influence/
- Meetings on Zoom https://zoom.us/
Making money from your Intellectual Property is just being creative and the PSASA is hosting a day of speakers who will share with you their ideas about Monetising your IP on the 8th October 2016.