270: Using Licensing To Make Billions in Sales, With Beanstalk Co-Founder Michael Stone

270: Using Licensing To Make Billions in Sales, With Beanstalk Co-Founder Michael Stone

If you’ve ever bought a bottle of Jack Daniels BBQ sauce or Febreze kitty litter, you’ve seen Michael Stone’s powerful approach to brand licensing in action. This attorney-turned-entrepreneur pioneered the form of corporate licensing that makes such products possible and wildly successful. Stone made his first foray into the world of licensing with the launch of his company, Beanstalk, in the mid-1990s. The firm quickly became the go-to resource for prominent brands like Procter & Gamble, Coca-Cola, and AT&T—all corporations that were eager to expand their reach into different product categories and strengthen their relationships with consumers. In 2018, Stone and his company were responsible for generating over $7 billion in retail sales of licensed product. While he stepped down as the CEO a few years ago, Stone still serves as the chairman of Beanstalk and is committed to innovation in this industry. Check out this interview to learn more about the ins and outs of licensing and to hear about Stone’s experience writing his book The Power of Licensing: Harnessing Brand Equity. Key Takeaways Why Stone switched lanes from practicing law to pioneering brand licensing The uncharted territory Stone noticed, and how it led to the launch of Beanstalk The necessary components for successful corporate brand licensing How Beanstalk became the go-to resource for prominent brands An explanation of why Febreeze is a better candidate for expansion via licensing than Citibank Handing over the reins of a business that was responsible for over $7 billion in sales in 2018 Why Stone decided to stick with his existing niche instead of starting multiple new businesses Stone’s honest warning for aspiring entrepreneurs

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48: How to Make $1m in 1 Week Online, The Secrets of a Product Launch with Ed Dale

48: How to Make $1m in 1 Week Online, The Secrets of a Product Launch with Ed Dale

It is with great pleasure we bring you this interview with the one and only Ed Dale.   If it wasn't for this man, Foundr wouldn't exist. I've been lucky enough to learn a lot of my marketing and onlin...

21 Kesä 20151h

47: The Art of Asking with Amanda Palmer

47: The Art of Asking with Amanda Palmer

In business, in music, or in life, there are few people you will meet as unapologetically honest as Amanda Palmer. A lifelong nonconformist, Palmer has evolved from living statue to award-winning musi...

17 Kesä 201526min

46: Seth Godin on Why You Shouldn't do What You're Told

46: Seth Godin on Why You Shouldn't do What You're Told

Marketing guru and multiple New York Times bestselling author Seth Godin explains why you should focus less on doing what you're told and more on doing work that's worth doing. In order to take advant...

15 Kesä 201536min

45: Our Top 7 Instagram Hacks To Generate 100's of Thousands of Followers

45: Our Top 7 Instagram Hacks To Generate 100's of Thousands of Followers

So we've decided to mix things up a little with this podcast episode.   This one is a short bite-sized episode, detailing our top 7 hacks for Instagram. You're probably not aware, but in the past 8 mo...

10 Kesä 201512min

44: How to Become a Lifestyle Entrepreneur & The School of Greatness with Lewis Howes

44: How to Become a Lifestyle Entrepreneur & The School of Greatness with Lewis Howes

If, like me, you think the job Lifestyle Entrepreneur seems completely made up, you’d be right. Lewis Howes’ title, like everything else about his career, is completely self-styled and made into reali...

29 Touko 201545min

43: Inside the Mind of a Billion Dollar Startup Founder - Rod Drury of Xero Accounting

43: Inside the Mind of a Billion Dollar Startup Founder - Rod Drury of Xero Accounting

Rod Drury conveys a palpable sense of urgency. If there’s one thing he’s picked up in his many years as an entrepreneur, it’s that having a certain velocity can make all the difference. “Biggest thing...

18 Touko 201529min

42: What does Snoop Dogg, Disney, Scarlett Johansson and Kevin Durant Have in Common With Shaun Neff?

42: What does Snoop Dogg, Disney, Scarlett Johansson and Kevin Durant Have in Common With Shaun Neff?

Beanies, caps, eyewear, tees and tops, watches, snow accessories, backpacks, hot tub shorts. You name it, Neff rocks it. So how did Shaun Neff, founder and namesake of the California-based clothing co...

12 Touko 201549min

41: How to Hack Time with Tim Ferriss (not to be missed)

41: How to Hack Time with Tim Ferriss (not to be missed)

We’ve all been curious about the best way to get better at languages, sports, cooking, fitness, and of course, how to start a business. Using a grand total of four hours per week, Tim Ferriss showed u...

3 Touko 201539min

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