1. Don't undervalue myself! I remember when someone commissioned me and I priced it embarassingly low and she actually wanted to pay more. I was just starting out making art again at the time and didn't have a complete view of my worth. So that's important to remember for sure.
2. AVOID NON-COMPETES. I'm actually looking into licensing right now specifically so I can have additional passive income. So this tip is huge-thank you.
3. I need to have a good contractual understanding for a beneficial licensing agreement and need to consider a 6% commission or more from a long term contract.