1. Research companies; I do this at trade shows, online, and look at products in the marketplace. My new clients are found this way.
2. Create collections or individual designs to show to manufacturers and publishers. This is a really important part as companies like to look at new ideas on a regular basis.
3. Tend to the business aspect, contracts, tracking who still has disks that need returning, taking care of copyright etc.
4. Research trends; although I have my own style, I am always looking at new ways of interpreting the same subject matter. Studying color trends is really important too.
5. MARKETING. I do this in a number of ways, online, at trade shows, networking and contacting companies directly.
There is a lot more to licensing, but this should give you an idea of where to start. My work lends itself to the juvenile and feminine markets, and I truly enjoy seeing my designs on products. Still a thrill after so many years.