How to .. Monetize your IP

ip-monetization_bnr

What is IP you may ask? In actual fact IP stands for Internet Protocol, but in this context Intellectual Property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; symbols; as well as names and images used in commerce.

I have just been asked to give a talk on how to monetise your IP. The person who contacted me felt that I had set an example that others could follow and therefore they approached me. I then began to think about the so called example I have set, it certainly is not an easy example to follow. But I will share my varied approach with you, so that you can decide if that works for you.

Be DifferentCan you be different? The key is to be different and it starts with the way you think. If you are trying to copy others by doing what made them successful, then you may only be noticed for doing what they did or trying to do what they have done already. The real art is to be different and authentic, so that people can recognise that you actually thought about something and then did it, that is when you become different.

Out-Work Them – If someone is working more than you are, they will be noticed and you will be overlooked. So if you think you have competition, look what they are doing and start outworking them.

Out-Think Them – Before worrying about others, think about the times you think and ask yourself: Do I think about what I think about, when I think? If you can get your own thinking right, you have the potential to out-think others. Thinking involves quickly working through different scenarios. What are you thinking about and what is your solution? What are they thinking and what will their solution be? What could an alternative solution be? Can you be pro-active enough to out-think and out-manoeuvre them? Can you listen longer before you start thinking, and do you know what thoughts and ideas will be more valuable? Once you have thought, can you act quickly?

Question Them – Ask why, but when asking questions don’t be like a lawyer who only asks a question to which he knows the answer. No, instead try to understand the human behaviour behind people’s actions and what they do. The challenge when asking questions is to keep the interaction as one sided as possible to allow the other person to explain themselves. This however is often of more benefit to the person explaining than it is to you. You have simply asked a question that allows the person to think and understand themselves better.

Disrupt Them – Most people say what everyone wants to hear (that’s called advice), few people say what is really needed to be said and even fewer are bold enough to tell the truth. Who are you disrupting? Are you challenging the status quo or have you just become complacent?

Be more consistent than others – when you are consistent, you will be found or noticed and others will talk about you. If you not prepared to be consistent: STOP reading this article now, you are wasting your time.

Remain Passionate – Never, ever give up on your dream and you will accomplish what you have set out to do. If I was not passionate about people, assisting them to be better than normal, I would have given up years ago. People, especially those close to you, will try steal your dream (they don’t want to steal it actually, they simply want you to do what they want you to do, and not do what you actually want to do). They will tell you that you need to stick to what you know and not try crazy things. But we know it’s only the crazy people who are passionate enough and stubborn enough to stick to what they are passionate about. So don’t listen to others, believe in what you have set out to do.

When do I get paid? Yes, this post is about monetisation, but the real truth is until you get noticed, until you get the chance to work and prove yourself, until you have the experience that others need, until you are prepared to say what others won’t, until you are passionate about what you do and others see that passion – why would anyone want to pay you?

People will pay you if your IP is different and you are able to deliver it at the relevant time. When I first started I knew I was ahead of my time in the way that I thought, but I believed that the world would need my thinking – so I waited, and we now find ourselves in a disruptive time where my IP has become valuable and people are prepared to pay. The lesson is that if I had tried to adapt to the people and monetise my IP at the wrong time I would never have found relevance. I hope that my article has inspired and caused you to become more passionate about the things you do. Just believe, stay passionate and focused, you will be paid in time for the things you love to do.

Image by : www.escaladeip.in

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About RichSimmondsZA

Father | Professional Speaker | Top 50 International & Forbes Top 10 African Social Influencer | RuleBreaker and ChangeMaker | Author 5 Night Plan & MugAndTweet Books
This entry was posted in Social Communication and tagged , , , , , . Bookmark the permalink.

One Response to How to .. Monetize your IP

  1. Rich

    Thanks for the simplifying how to make money blogging. It is something that many writers think about, however never know where to start. I guess we have an idea now.

    Cheers
    Jim

    Like

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