Yesterday I was explaining the old VS new factors of production as well as how My Drunk Aunt told Wifey she told her date to ‘Go Deeper.’

Speaking of how he said he was all out of UFO stories and conspiracy theories…

Bill was dating a gal named Ruth and here’s his conversation with Dave about it:

Dangerous Dave: How’s it going? 

Bill: *downtrodden* Not great. 

Dangerous Dave: How’s Ruth?

Bill: We split up.

Dangerous Dave: So you’re now Ruthless?

Bill: 

Dangerous Dave: 

In other news from my BCS podcast…

Stop executing on your ideas… start executing on your roadmap.

Anyhoo…

Your one PROFIT ACCELERATION THING today is: 

‘Intellectual Property’

I was lucky enough to get into the Intellectual Property (IP) game at the ripe old age of 21.

Right place, right time, a great mentor and I worked with one of the world’s top IP lawyers. 

Here are some thoughts on the topic for you. 

A company’s IP basically lives in three primary domains:

A. Intellectual Capital

B. Accounting

C. Human resources

Here I’ll list four primary functions of IP:

1. Packaged Intelligence 

A Book or a Training Program would be elementary examples. 

As a business coach, you’ll generally find your best clients come from people who have read your book / seen your presentation / been educated by you.  

2. Knowledge that can be converted into profits.

Example: Having a cash flow problem and understanding that collecting your ‘accounts receivables’ rather than ‘running FB ads’ is one million times as effective / profitable / intelligent.

Or understanding that your high-end coaching client offering a 10% discount means they need to SELL 33% more to break even… would be examples.

3. Brands and Trademarks

Back in the day, the Nike Swoosh would increase sales of almost anything it’s placed on – a little different today, but it’s still a formidable symbol. Similar to the New York Yankees / Dallas Cowboys / Manchester United / Star Trek / Star Wars marks etc…

4. Processes.

Example: McDonald’s licensing the right to place Harry Potter / Star Wars / Spider-Man toys in the Happy Meal.

I’d encourage you to explore these examples with your high-end coaching clients and help them understand and profit from their intellectual property.

The unidentified profits can be incredible.

Tell the others. 

Now, pick up the phone and go help someone.

Obsessed with your business coaching success,

Karl Bryan

Founder

Focused.com

PS.  You didn’t fail… you fell down.

PPS. Marriages break-up from a lack of money over a lack of love X 100

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