Building your success on the success of others has long been a recipe for a strong business. Allowing others to license your idea to develop their business gives you an extended reach and the opportunity to add a passive income stream to your business.
For example, Shark Tank was created by Nippon TV in Japan and franchised after successfully airing as Dragons Den in the UK. This blend of a successful framework and local variations created one of the most successful TV syndications. Most viewers don't know or care about the connection with Nippon TV, but I'm sure Nippon are okay with that as the checks come in each month.
If you are a coach helping other businesses grow, a broker helping realtors list homes, a sales manager helping sales teams sell, a franchisor helping franchises find clients, or any field where you can help others develop more leads, then having a book others can use to make more connections will accelerate their success and yours.
Three Criteria for a Successful Syndication Project
1. Get invested in the outcome, not the book.
You can't be personally invested in the book for this to work. It's no longer "your book." Instead, get very invested in the outcomes you can create for people using "your tool."
2. Your book must deliver value for the readers, not be about the author.
The syndicated part of your book needs to focus on helping the reader. Deliver value, answer questions, and create a clear next step. With the static part written, you can then look for ways to build a connection to the author: an introduction, a bio, and their contact details.
Building your success on theirs requires thinking about the win from their perspective.
3. However, your customers are the authors, not the readers.
Having just said you need to write for the readers, it's ultimately the authors paying you, and they are most interested in the readers becoming clients. What can you do to make this a huge success for the authors? Ensuring they have a strong call to action, giving them landing page templates, writing email campaigns. Creating supporting material is a simple step that makes their success and desire to stay clients far more likely.
The Leverage Opportunity
The good news is this work has leverage. Creating something you can use multiple times is the perfect passive income opportunity.
