4 Methods to Master the #1 Success
Secret of Infopreneuring (3 of 3)
BY STU McLAREN
PART 1 |
PART 2
4. You can purchase the
rights to content that you can resell
Purchasing the rights to
content that has already been created can be a double edged
sword, but, if you do it right, it can be VERY profitable for
a number of reasons.
First and foremost you want to
review the “legal mumble jumble” to the materials that you
have purchased. There are different “rights” and you need to
be aware of the differences. I’ll give you a quick break down
of the basic ones that I commonly come across for these types
of products.
Recording Rights —
These usually grant you the rights to record the written
material in your voice and sell the audio for whatever price
you want. They do not give you the right to reprint the
materials or transcribe your audio (yes that is the same
thing!!) and resell that.
Reprint Rights —
Reprint rights give you permission to resell the written
content. You can’t modify the content at all but you can
resell it. Sometimes there are clauses that do not permit you
to resell the product beyond a certain price point. Make sure
you read all the details carefully.
Master Resell Rights —
With master reprint rights you basically have permission to
sell the content AND you have the right to sell the reprint
rights. However, you do not have permission to change the
content at all. Once again make sure you read all the
conditions yourself because every contract can be different.
Private Label Reprint
Rights — These are basically the grand daddy of them all.
These rights allow you to change the content, rebrand them
with your own logos, name, graphics, and turn around and
resell the finished product. The only thing you don’t have
permission to do is resell the private label reprint rights.
So that’s a basic breakdown of
the major categories of what you would get if you purchased
the rights to any content. I do want to emphasize that I am
not a lawyer and every agreement is unique and different.
Therefore you need to read over all the legal stuff before you
agree to purchase anything and then start reselling it.
So what are the advantages of
doing this?
Well you can get access to
good quality content that you can sell right away. Obviously
if you purchase any of the rights we just talked about you
will want to read the content and make sure that it is a good
quality product. You don t want to be reselling crappy
products.
Another advantage to this
approach, specifically the private label resell rights, is you
can use the content for a variety of different purposes. This
is where the creative imagination really comes into play.
Here are some examples of what
you could use THE SAME content for:
- Break up the written course
into 5-10 different special reports
- Rework the content into a
mini-course
- Chunk up the content up
into a whole bunch of articles
- Break the content up and
plug it into an autoresponder series
- Use the content for
teaching material on a teleseminar
- Use the eBook as a special
bonus for an existing package that you have developed
- Break the content up into a
“tips” series
- Use the content for
teaching material in a seminar
- Record the written material
into an audio product
- Use the content for a
monthly newsletter
These are just 10 quick tips
for different ways that you can use this content once you have
it.
Are there more? Absolutely!
There really are all kinds of
possibilities once you learn what you can do. So purchasing
these types of rights can be VERY beneficial in a variety
ways.
So how much do these types of
rights normally cost?
Typically they are a one time
cost ranging anywhere from 12-15 times the retail value all
the way up to 40-60 times the retail value (that’s normally
for a master resell license). That means if the retail price
of the product is $200 an average reprint license
would be between $2,500-3,000.
For a master resell license of
the same $200 product the cost would be somewhere
between $8,000-12,000.
Now that is a lot of money but
remember you get to keep all the profits of any sales that you
make from that point onwards. So if you sold this $200
product at a seminar you could potentially make you money back
very quickly.
If you enjoyed this article
make sure to look up the other two articles in the series
dealing with the other 4 methods of creating content:
Part 1 - Writing Your Own Materials and Recording Your
Thoughts and
Part 2 - Hiring a Ghostwriter!
Stu McLaren is the publisher
of
MyIdeaGuy, which helps you make money with your ideas.
Visit the site and grab a special report: 11 Creative Methods
to Make More Money with Your Ideas in Less Time and with Less
Effort.
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