Make the Leap From Freenote to Keynote

I call it the Costco Catalyst.

It’s a method I’ve learned over the years from many mega-store trips…

One that allows a speaker to take a speech with absolute zero demand into the ranks of a top earner.

But it only works if the speaker can overcome their misconceptions and prejudice around one simple word… free.

(Bear with me on this one!)

Speakers who want to build a strong and sustainable speaking business often balk when they hear the word “free.”? In fact, some get downright offended.??

But, when you use the Costco Catalyst (which I’ll explain in a sec), it’s possible to take that freenote and turn it into a (very high earning) keynote!

?? RANT: We decided to write about this after I saw a massive ANGRY rant from a speaker about being approached to speak for free on LinkedIn. Here's a hint: don't participate in those posts... event organizers are watching.        

BTW, I've written about this before...

YOU Don’t Really Matter (As Much)

In order to understand how to turn a “freenote” into a “keynote,” you’ll first need to embrace the idea that your speech is the product… not you.

You may be a very successful speaker, delivering dozens of speeches every year.? You may be earning very high fees for many of these appearances.? You may be extremely well known in your industry.

?? Even so, you are not what people are paying for. They’re paying for your speech.        

So, when it comes time to develop a brand new speech for your repertoire, that speech (at least initially) has zero value.? There’s literally no demand, so it’s worth zero dollars.

Here’s Where Costco Comes Into the Story

If you’ve ever headed to Costco, especially on a busy weekend, you’ll likely see tons of sample tables scattered throughout the store.

These tables are nestled next to food displays, sitting at high-traffic corners, and acting as bookends to the long freezers packed with bulk discounted foods.

Each table usually has a single server with a little heating appliance, first cooking and then serving tiny portions of food into those little sample cups.? Busy shoppers crowd around these tables to try the bite-size portions.

If they like what they taste, the shoppers then grab full-size products to take to the register.

In the early 2000’s, Tyson’s Teriyaki Chicken was introduced to the market.? Much like your new speech, it had zero demand.? No one had ever tasted it before, so very few people were interested in buying it.

Enter the Costco Catalyst.

Every weekend for months, Tyson paid (yes, Tyson paid) to have servers hand out samples of their Teriyaki Chicken at sample tables in Costcos across the country.

As more and more people had the chance to sample their tasty meat, the sales for Tyson’s Teriyaki Chicken began to steadily grow.? All of a sudden, people are telling their friends about this chicken, feeding it to their family, and buying it over and over again.

This simple sampling strategy helped boost sales and turn Tyson's Teriyaki Chicken into a breakout hit!

Your Speech is the Chicken

?? When you treat your speech like a product, you’re basically using a freenote (or any free speaking opportunity) as a sampler.        

And when I say “freenote”, it doesn’t have to be on a keynote stage. This free speech performance might be a breakout session, a lunch-and-learn, or a smaller event.

Personally, I’ve delivered breakout sessions that include new keynote content to generate my first round of stageside leads and referrals.

Just remember, your speech is the product.? In fact, it's Tyson's Teriyaki Chicken with no cheese.

At first, it has no demand, so it’s essentially worth zero dollars.? But once you spark the demand and get people interested, organizers will be happy to pay for the full experience.

Think Like an Event Organizer

Let’s pause for just a moment and talk about why this works on the organizer’s side of things.

?? For the organizer, a freenote is great because it’s very low risk. They have no idea if your new speech is any good, but they’re not paying for it, so it’s okay. Worst case, it’s a terrible speech. Best case, it’s an incredible speech that their audience will love and rave about. (BTW, it's very low risk for you, too!)        

And, just like with the Teriyaki Chicken, you’re just giving away one small piece at a time… one speech.??

The worst case for you is that you’ll get some experience with that new speech on stage so you can learn what audiences like and don’t like.? The best case for you is that the audience loves it and you leave with a roster full of stageside leads and referrals.

Another Reason to Consider Freenotes

Remember, you need to build velocity for your brand new speech .? This means getting it onto stages as often as possible during those early months so you can constantly identify weak sections, refine stories, and improve the overall delivery.

?? With each performance (even the free ones), you’ll gain instant feedback from your audience.        

Where did they laugh?? Were they fully engaged throughout the performance?? What kind of response did you get from them at the end??

If you deliver a breakout at a conference with 3,000 people, the breakout room might only have 50 people for your session.? You’ll still get instant feedback.

You’ll see it in their eyes… in their reactions… in the questions they ask.? If people do or don’t approach you after your session, that also tells you something about the quality of your speech.

Use this feedback to continuously improve your speech until it reliably gets stageside leads… then start charging more and more for future sessions (more on that tomorrow.)

Build Trust With Your Event Organizer

The final reason why a freenote can be a great option with a new speech is that it builds trust both with your organizer and with the people who are in your audience.

Every person who loves your speech thinks...

“Wow, that was great.? I’m interested in hiring them because I trust they will deliver that same quality speech at my event.”

Back to the Chicken…

So sampling drives demand at Costco.? It also drives demand for the speaker.? If it’s not driving demand, then the problem isn’t with you… it’s with your speech.

Think of it this way…??

If Tyson came out with another chicken product… Let's say it’s Jamaican Jerk Chicken.? They used the sampling method to get this new flavor into the hands of their customers, but no one buys it.

This doesn’t mean that Tyson’s chicken is bad.? People still LOVE the Teriyaki flavor.? It just means that the Jamaican Jerk isn’t a hit.? The product needs to be tweaked so that more people will like it.

When you treat your speaking business with this same attitude, you’ll find much more long term success.? You first need to generate demand for your product so it’s worth something.? From there, you can gradually step up the price of your speech using the power of compounding gigs.

If you’re a Premium Member , check out the second part of this article and we’ll look at exactly how you can turn a single freenote into a well-paid keynote over the course of a few months.

Part two of this article covers:

• How to visualize the growth of your speech from zero dollars up to your full keynote fee,
• Your goal for every single speech you deliver (hint: it’s not a standing ovation),
• Why you want to lose 50% of your gigs to price,
• How to scale up this model if you are a speaker regularly earning $15K or more per speech,
• And how a seasoned speaker can use this model even when they have multiple speeches on their regular rotation.

Not a Premium Member?

Remember, the advice that got you here won’t get you there. It’s time for a massive move.

It’s time for a Monumental Shift.??

Thanks for reading!

Andrew