An Honest Accounting, Part Two

On trying to land my third licensing client, and how this business area fared more broadly

If you haven’t already, read part one first:

“Never give leverage away for free,” says Jeb Blount, author of Inked.

With this in mind, in exchange for speedy signing and upfront payment, I agreed to a fifty percent price cut for the Pivot workbook licensing proposal with a notable client.

Despite my reservations, feeling a bit deflated but nonetheless grateful, I said yes to two years for the price of one, at a contract value just short of six figures. This was on the condition—their suggestion—that they sign the agreement and pay in full by the end of the month, January 2020. That was in one week.

My attorney drafted the agreement at record speed. I sent the client the contract for signing on January 31.

Two days later, a New York Times headline read, “Retailer announces 125 store closings and 2,000 lay-offs.”

😬

That can’t be good.

February came and went. The contract languished in legal review.