John Keegan Discusses the Power of a Deep-Rooted Story in Licensing
Last month, our Edison Foundations participated in the international India Licensing Expo Virtual 2020! Thomas Edison’s IP was displayed in a virtual booth among other powerful international brands. Our President and Chairman, John Keegan, was excited be invited to participate in a panel discussion where he discussed the current state of licensing with other global leaders.
The panel discussion was entitled “The Infinite Dimensions of Brand Licensing- Learn and Expand with Brand Practices by Global Leaders”; and included a total of five panelists who discussed the key to success in branding and licensing in such a unique time. Sporting his lightbulb tie, Keegan discussed his licensing experience with one of the most powerful names in the world, Thomas Edison, in the presentation below entitled “The Power of an Idea to Overcome Failures – Great Brands have a Great Story.”
Keegan began by touching upon Edison’s legacy of innovation such as creating $8-12 trillion of the world’s current economy, establishing 1 of 4 jobs in the world today, and being named the Man of the Millennium, the man of the last 1,000 years, by Life Magazine. Edison’s great success over time is attributed to his dogged determination to learn from failure; and his commitment to produce innovations that would improve the quantitative lives of people…much like many brands face today in the world of business and marketing!
Through his unwavering spirit of determination, Edison learned that products cannot stand alone, that branding is the profit-making finale to any invention; and branding coupled with a great story, like Edison’s, is a strategic combination. Edison created the science of branding when he created his umbrella signature to be placed on his products and our foundations still use it today to help brands establish trustworthiness and excitement for their innovations.
Some of the Edison Foundation’s licensing most successful experiences that Keegan discussed were Intel, Chevy Volt and Chick-fil-A, where the Edison image helped portray products as innovative, relevant and edgy. To learn more about our licensing program, visit our website here!
As Keegan discussed the current state of the licensing business, he noted that brands must channel their Edison spirit in looking towards the future in business. Brands must take the challenge of social distancing, less travel, and the increase in online transactions, and use it is as a chance to be innovative with their marketing strategies. Keegan reminded the audience of Edison’s basic principles for success, from Keegan’s Ted Talk, in order to do so:
- Think outside the box
- Take an educated risk and be entrepreneurial
- Fail your way to success
- Success demands improvement
- Collaboration is the new competition
- Think big but keep it simple
- Find the best solution
- Keep learning
- Always be selling
Thomas Edison’s most famous quote is “There is a better way to do it. Find it.” It’s a challenge for all entrepreneurs and brands!