License structure: fees and the 15% split

Mike outlines licensing mechanics: an upfront fee plus a 15% revenue override he found balances incentives.

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Episode notes

Mike Michalowicz is the author of ⁠Profit First⁠, which is used by hundreds of thousands of companies across the globe to drive profit – Creator Science is one of those companies. Profit First has helped me develop sound financials for my business.

He’s also the author of Clockwork, a powerful method to make any business run on automatic, and seven other books as well.

With more than 500,000 book sales, all of Mike’s books have the same goal – to help small business owners and eliminate what he calls “entrepreneurial poverty.” Simon Sinek has called Mike “…the top contender for the patron saint of entrepreneurs.”

This conversation is divided into halves:

The first half explores Mike’s unique model as an author. For each book Mike writes, he partners with a third party to license the frameworks from his books and serve as the done-for-you service provider. This is super uncommon and part of why he’s been so prolific while running a very lean team. So we dig into how that works (and what he’d do differently if he were starting over today).

The second half of the conversation is all about writing books. Mike has published nine books since 2008 – including 7 in the last 8 years. So we dig into how he determines what ideas to turn into books and how to write them so quickly.

⁠Full transcript and show notes⁠

Mike's ⁠Website⁠ / ⁠Twitter⁠ / ⁠Instagram⁠ / ⁠YouTube⁠ / ⁠LinkedIn⁠

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RECOMMENDED NEXT EPISODE

→ ⁠#176: April Dunford – How self-publishing a book exploded her client service business.⁠

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