Turn Intellectual Property into Sellable Assets

“What is in your business that your clients are paying you for? Is there a method, training or workshops that you bring? Whatever it is that your client is paying you for, that is the asset in your business.” -- Erin Austin

Imagine a world in which your business continues to thrive while you take a step back to rest and relax. If you’re a consultant, that might feel like a dream, but it’s absolutely within reach – and maybe even closer than you think. 

In this episode of Profitable Joyful Consulting, I talk with Erin Austin, an IP attorney, founder of Think Beyond IP, and host of the Hourly to Exit podcast. Erin guides women consultants, business coaches, and other entrepreneurs on the journey of transforming their businesses from an unscalable income-generator into a saleable wealth-building asset. Erin is ready to help us all understand intellectual property and discover where our unique assets lie, so we can grow our businesses well beyond our wildest dreams. 

Erin also shares the #1 kind of agreement every consultant needs to have with clients (that you probably don’t). This episode will leave you feeling inspired and empowered to work less in your business, and let your business work for you. 

Key Points: 

00:00 Intro

03:01 Origin Story

04:57 Do I Have Intellectual Property?

10:57 Steps to Create an Asset

14:16 What is a License?

17:36 Examples of Assets

24:41 Tips for Consultants

31:41 Erin's Personal Asset Example

Learn more in this episode on YouTube or your favorite podcast app: www.samanthaspodcast.com.

GUEST: Meet Erin Austin, a Harvard Law alum and seasoned contracts expert with over 25 years of legal experience. As the go-to advisor for professionals with corporate clients, Erin empowers entrepreneurs to be their own advocates, standing out for her commitment to transforming expertise into empires. With a unique approach to business and law, Erin focuses on protecting your expertise from unauthorized use. Explore her blend of legal expertise and entrepreneurial insight on ThinkBeyondIP.com and the "Hourly to Exit" podcast. Off the clock, you'll find Erin in the great outdoors or connecting with business coaches to elevate 6-figure consultants into 7-figure powerhouses.

QUOTABLES:

If you don't have your own intellectual property, you're probably executing somebody else's IP.  - Samantha Hartley

A natural progression from one-on-one to creating something you can independently sell or license, without you, is