The focus of #Smallbizchat is to end small business failure by helping participants succeed as your own boss.
Please join us live every third Wednesday of the month from 8-9 pm ET Live on my SmallBizLady Facebook Page, YouTube Channel and LIVE on Twitter.
How to License and Sell Your Content
Mitch Axelrod is a 45-year entrepreneur, speaker, trainer, advisor and #1 Wall Street Journal, Barnes & Noble and Amazon bestselling author. He has delivered 3,500 seminars, workshops, keynotes, and coaching clinics to more than a million people on business, entrepreneurship, sales, leadership, values, and intellectual property. Mitch has appeared in dozens of media and taught at NYU, USC, Notre Dame and Harvard. He has helped his clients generate $3 billion of revenue. For more information: https://www.thenewgameofip.com
SmallBizLady: What is a licensing deal, and how can businesses use it to generate passive income?
Mitch Axelrod: A licensing deal is simply giving another party the right to use, sell, re-license or deploy something you own. It could be a product, process, invention, software, information, education, framework, system, blueprint, marketing method and the list goes on. By allowing another company or group of individuals to use your IP you can create a passive revenue stream.
Case studies:
Mitch and MONY.
Joe Polish.
SmallBizLady: How do you determine a deal’s right licensing fee or royalty structure?
Mitch Axelrod: Every deal is individually negotiated. You can research and investigate pricing and royalty structures by looking at industry standards. The key is the deal has to be profitable for the licensee. The beautiful part about licensing is that you can structure a different deal with each company licensing the same product.
SmallBizLady: What are common mistakes business owners make when negotiating licensing deals?
Mitch Axelrod: A big mistake is being in selling or pitching mode rather than collaboration and creation. Licensing is a profit partnership not a transaction. Another is entering the conversation with assumptions, preconceived notions and fixed thinking. We want to be open to discovering new and better ways to monetize our IP that come from collaborative conversation rather than scripted presentation.
How giving a TEDx talk can benefit your business
Dr. Dan Young is a dynamic entrepreneur, TEDxWilmington organizer, and founder of Ready Speaker One. With a passion for empowering individuals and businesses, he has dedicated his career to helping people build generational wealth through education, personal development, and impactful communication. As the driving force behind TEDxWilmington, Dr. Young has created a platform for thought leaders to share transformative ideas. Through Ready Speaker One, he equips aspiring speakers with the tools to become influential communicators. For more information: tedxwilmington.net
SmallBizLady: How can delivering a TEDx talk elevate your personal brand and position you as an authority in your industry?
Dr. Dan Young: A TEDx talk establishes you as a thought leader by providing a credible, high-profile platform to showcase your ideas. TEDx has global recognition, and the format forces you to distill your expertise into a compelling and concise presentation. This positions you as an authority and a go-to expert in your industry. If done correctly, your talk can have a ripple effect—leading to speaking engagements, media interviews, and business opportunities.
SmallBizLady: What are the key benefits of a TEDx talk for business owners looking to attract more clients or opportunities?
Dr. Dan Young: 1. Credibility & Authority – TEDx is a globally respected brand. If you have a TEDx talk, it immediately boosts your credibility.
- Mass Exposure– The TEDx platform has a built-in audience, and if your talk resonates, it can reach thousands or even millions of views.
- SEO & Online Presence– TEDx videos rank high in search engines, ensuring that when people Google you, they see a high-quality, well-produced talk.
- Networking Opportunities – It opens doors to collaborations, partnerships, and invitations to speak at other high-level events.
- Lead Generation – A well-crafted talk can attract ideal clients by demonstrating your expertise in an engaging way.
SmallBizLady: What strategies can business owners use to turn their TEDx talk into a lead generation tool?
Dr. Dan Young: 1. Strategic CTA (Call-to-Action) – While you can’t overtly sell in a TEDx talk, you can craft a compelling message that naturally leads people to seek more from you.
- Website & Email Capture– Have a landing page linked in the video description where people can access bonus material, free resources, or sign up for your newsletter.
- Social Proof & Testimonials– Use clips from your talk in promotional materials and testimonials to reinforce your authority.
- Follow-Up Engagement– Share your TEDx talk in email campaigns, social media, and directly with prospects to spark conversations.
SmallBizLady: How can repurposing TEDx content (videos, transcripts, key quotes) boost your marketing and visibility?
Dr. Dan Young: Repurposing your TEDx talk multiplies its impact. Use these strategies:
- Break the talk into short clipsfor Instagram, LinkedIn, and TikTok.
- Extract key quotesand turn them into graphics for social media.
- Write blog postsexpanding on your TEDx topic.
- Use the transcriptto create a downloadable e-book or course material.
- Embed the video on your website and in your email signature to increase visibility.
How to Reinvent a Legacy Business
Rich Trotter is CEO Rosati Ice, a business that is over 100 years old. As the oldest of 13 kids, a West Point Graduate and Army Veteran, Rich is a natural born leader. After leaving the military, Rich returned to Pennsylvania and began work with his father in the soft pretzel business. 25 years ago, he and a partner bought Rosati Ice which is not only America’s First but also the World’s Best Italian Ice. Rosati Ice cups are offered in schools across the country and are made to meet the guidelines of nutritional lunch programs. His opinion, advice and guidance is often sought-after. Rich’ lives according to his mantra: “Do the right thing, the right way, for the right reason.” For more information: www.Rosatiice.com
SmallBizLady: You are the fourth generation of your family to lead your business, what are the key challenges of running a family business?
Rich Trotter: Taking the lessons learned from my father and applying them to a different group of team members, customers and suppliers. Internally, the challenge is always to build a team of people regardless of background who treat their fellow members as family.
SmallBizLady: What is the most interesting thing about running a food-based business?
Rich Trotter: The most FUN thing about running a food-based business is the immediate gratification in watching people enjoy consuming Rosati Ice! Bold taste, smooth texture and vibrant colors make Rosati Ice not only America’s First but also the World’s Best Italian Ice, and in Philly it’s called (Water Ice).
SmallBizLady: What has been the most challenging time you dealt with in your business?
Rich Trotter: The pandemic forced the extended closure of schools whose revenue represented 70% of our pre-pandemic sales. The four-year journey through the pandemic keeping the business operational could not have happened without the great sacrifice and efforts of our good people.
Did you find these interviews helpful? Please tell me how they helped and then share them.
Would you like to be a guest on #Smallbizchat Live?
If you are a small business owner, author, or subject matter expert, we’d love to have you appear as a guest on #Smallbizchat LIVE. Submit your name, headshot, Twitter handle, bio, website, topic and 3 questions and answers in paragraph form to demonstrate your expertise. To submit your materials to be a guest on #Smallbizchat click here.