Sources of growth - Part 3

(This is part 3 of a 4-part series. If you want to view the series from the start, click here.)

Part 2 of this series dealt with maintaining and growing business from existing licensees. The next source of growth is the glamour area – recruiting new licensees.

Because of natural attrition of licensees, it will always be necessary to recruit new licensees to replace them. Recruiting new licensees refreshes and extends the scope of the business.

It is also the most visible activity in business development.

However, in contrast to maintaining and growing business from existing licensees, the results often take longer to show and are more difficult to predict.