MASTER RESELL RIGHTS (Part 2)
LEGALLY FLUENT® PODCAST
MASTER RESELL RIGHTS (Part 2)
1:20 What is Master Resell Rights or Master Resale Rights?
1:47 What is guaranteed though, is that if you give master resell rights, then your buyer has a right to sell your product and receive the profits from that sale.
3:06 Now what if you are the creator of a product?
3:30 If we are only talking about attraction, then, of course, it can attract people to your product. But the thing is, if you are a real business owner if you are a creator of something, you need to think beyond the initial attraction.
3:47 What are you giving up exactly when you sell your creation with MRR? For one, think of your intellectual property rights.
4:07 Copycats and Pirates are already a big issue in the digital course creation industry. You are making it easier for them to steal your work.
5:08 You know what is harder to control? Whether the buyers of your product will actually follow your terms and conditions.
5:31 In business, you cannot control everything, but you can lessen those variables that you cannot control. That is just not the case when selling a product with an MRR.
5:45 Another issue, you are, in fact, diluting the value of your product by adding an MRR.
6:55 Of course, there is the issue of creating your own competition. And because the product you are selling, even if you are the original creator, isn’t really different from the product being sold by your resellers, you are oversaturating the market.
8:10 If you really care about your clients, if you really care about creating an impact, the solution is not to make your product or service easily accessible to everyone. Why is that so? Because if something is so accessible, if it's easy to acquire, people tend not to value it.
8:31 In business, you must ensure that your product or service has a high actual and perceived value
9:00 I see a common spill amongst creators and makers of products and courses with MRR. One, since you are over-saturating the market, you are creating more competition; you are, in fact, setting yourself up and your client resellers to failure. Second, which I already mentioned in the last episode, you cannot promise and guarantee results and earnings. Period. When you do that, you create a liability that will bite you sooner or later.
11:28 If your only marketing strategy is to sell something with MRR, then you are building something that is not sustainable. And if you are serious about your business. If you really want to create a business that can support your dream lifestyle, you need to focus on sustainability rather than hoping and crossing your fingers that your course or product will sell just because you added a marketing promise that you should not have guaranteed anyway.
12:06 If you want to have a sustainable business, not a fad, one that can survive the test of time, then there are certain minimum things your need to accomplish.
12:20 Download the Legal Checklist for Coaches, Experts and Course Creators.
Social Media is buzzing about the Master Resell Rights. What is Master Resell Rights, Master Resale Rights and MRR anyway? Is Master Resell Rights legit or a scam? Should you jump into the hype? In this episode, I answered all of these and more.
Master Resell Rights, Master Resale Rights, Roadmap to Riches, Learn and Earn