Ever since I was a young pup in this design industry I have been involved in licensing world one way or the other. There were times I have just sat by and seen people make tons of money when honestly they really didn’t do much more than provide the meet and greet between designer and manufacturer. But honestly those contacts can make a lucrative licensing deal. So today I wanted to talk or write a little about a few things you want to know about if you jump into this licensing arena.
Contacts Are Key
The relationships you worked on are yours and so are your contacts. So if you ever go with a third party agency or agents do not give those away. Trust me the only thing most of these licensing agents have is a $300 legal zoom contract. How I like to work is that I train designers to bring their licensing in-house and create their own system. Why? I sleep better at night.
Pick Up The Phone
Not a hard thing I know but most people do not get this. Most licensing deals happen over a nice bottle of wine and a plate of food. Pick up the phone or have your assistant pick up the phone and network. If you spend 1 hour a week on this it will pay off in the long run. I promise the phone will not bite and remember the design world is a small pond. Someone you know will for sure know that dream contact you are looking for.
Flattery Will Get You Everywhere
Make sure to follow up that first contact with a gift that shows the manufacturer that you are a class act and are here to play. Many designers forget this but treat this as a job interview and I promise it will pay off.
More Tips and Insight on Licensing to Follow in My Next Article on Licensing,