Tired of Speaking for PEANUTS? 6 Tips to Make More Money Speaking, Training, & Coaching.
6 SAVVY Non-Negotiables for Making Money
Speaking, Training, & Coaching!
Non-Negotiable #1 -- You must be a business person FIRST.
Over the years we have trained individuals who had a desire to be gainfully self-employed speaking as well as those who wanted to increase their earnings. The first step is to introduce sound business practices beginning with a
business plan and bookkeeping.
A. Develop a practical business plan.
Yes, we all want to make $15,000 per speech and sell another $50,000 worth of BOR (Back Of Room sales) but few start out there. Work with a business coach who is already successful in this industry to help you determine the following:
? Per yearly income
? Per event fees
? Product development and price points
? How often you must speak to meet your income goals
B. Remember the 11th Commandment: "Thou shalt not jive thyself".
Be honest with yourself about how much you are actually making from an event. When I started out I was paid $500 flat fee for a retreat. The materials cost was $150 and the event was 100 miles from my home. (200 times .49 per mile
is $98) I ended up making only $252 for a full day of training. OUCH! Never again will I make that mistake! The truth maybe painful to face. Check your accounts daily. In business CASH FLOW is KING.
C. Develop a bookkeeping method or get some help calculating fees minus expenses.
Non-Negotiable #2 -- Avoid Being a Sucker
Whether you realize it or not, the moment you decided to become a speaker you became a target for every book publisher, software company, branding expert, web designer, social media expert, etc. They all promise they can make you successful and want your hard earned cash in return. Don’t misunderstand. You will need some help and there are several good companies out there that will deliver results, but let the buyer beware! A good rule of thumb is:
Invest what you make, not what you project you will make.
A. Be a Penny Pincher! Set your business up as best you can without a huge outlay of money.
? Find friends and family who will help you for free. (Your kids can probably help with social media, creating and uploading videos and blogs.)
? Train yourself. Learn how to do social media, edit video and audio, etc. YouTube is a great resource for training videos on every topic.
You actually don’t need much to get started in the speaking industry. We got going with a $47 template website, five value propositions about the results we delivered, a business card we designed ourselves and a ‘press kit’ consisting of a
pocket folder containing only a simple one sheet flyer. These inexpensive items netted us a six figure income our first year in business.
B. Make your speaking business pay for your speaking
business. Go out and begin speaking for a fee before you make expensive business purchases.
Non-Negotiable #3 - Your face is your logo.
You probably cannot picture the logos for Zig Ziglar, Brian Tracey or Less Brown but I bet you remember their faces. Logo design is an unnecessary expense for the speaker just starting out.
A. Invest in a professional picture & place it everywhere.
The most effective head shots show some personality, a big smile, and the whites of your eyes.
Non-Negotiable #4 -- Be the expert
Niche your self as the expert and your company as the best source. Do the research other will not do. As speaker/trainers we are information brokers. Stay on the leading edge of your industry by reading books, blogs, and articles on your topics. Create tools and materials your target market will want to purchase. Experts are in high demand and can request more for their services.
Non-Negotiable #5 - Create a Compelling Brand
AVOID A COSTLY MISTAKE! Creating a brand occurs only AFTER you’ve researched your target market. The most important part of that research will take place as you do presentations. Too often speakers create what they think will be their brand before they ever work in their target market only to find out the brand is insufficient. Then they must dramatically change the brand after the first year or two.
A. Your brand must be legally protectable. It is important to research trademark and domain availability. The most compelling brands are easy to pronounce, recognize and remember.
A strong brand is invaluable as the battle for clients heats up day by day. Be watchful as you build your brand. A brand is a promise of the quality your client will receive. As you build your brand, maintain consistency in quality and across
all of your communication as this will prevent confusion for your clients.
Non-Negotiable #6 -- We SELL for the right to be on someones stage.
SELL - The ultimate dirty word in the speaking/coaching industry.
Nothing happens until someone sells something.
? We sell before the event to get the ‘gig’.
? We sell during the event to get people to our tool table.
? We sell after the presentation at our tool table.
? We sell after the event to gain spin-off business.
Who’s selling YOU?
Speakers are always thinking about marketing; internet marketing though blogs, posts, webinars, podcasts, capturing leads from our website, etc. Marketing is important but what are you doing with the leads you acquire? Avoid allowing leads to slip through your fingers. Make sure you or the individual(s) who are responsible for selling you have mastered the following skills:
? Lead Generation
? Building Rapport with Clients and Prospective Clients
? Telephone Contacting and Scripting
? Sales Presentations via Phone and Face to Face
? Negotiation
? Closing Speaking Contracts
? Acquiring Quality Referrals and Spin Off Business
Your sales team, even if it is just you, IS YOUR BUSINESS. If there are items on the list above that you find lacking, this is the best place to spend your time and money. Read books, listen to CD’s, go to seminars, and/or employ someone who can help you/your sales team master those skills.
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8 年Dustin Mathews, Thanks for your kind words of encouragement! I watched your presentation on TRUST. Very well done! Building Rapport is the way to gain long term business. I especially liked what you had to say about creating a process for your clients. Process will always out sell personality or charisma.
?? CRO (Chief Revenue Officer) | ?? Investor & Partner @ WealthFit | ??? Author & Contributor @ Entreprenuer | Filling Live Events, Monetizing Data & Raising Capital ??? See Below ??
8 年I whole-heartedly agree with you about speaking being a business. I understand the people that are passionate and if you truly want to serve, you've got to find a way, as Dawn Pici, mentioned to perpetuate your message. Best way to do that is think of speaking as a business. As a marketer, I also think of speaking as a media or channel. And 'growing up' as a direct response marketer I look at every speaking opportunity as a way to deliver value and get a return on that value. Sometimes it quickly and other times I can afford to have the investment of my time pay off over time. It really comes down to what game are you playing (long term vs. short term) and cashflow.
Purpose, People & Profit Integrator: Guiding Business Owners to Powerfully Put Purpose to Work ? The Professor of On-Purpose?
9 年As a professional speaker for over 20 years, all I can say is, "Dawn, these is solid and wise counsel for new and experienced speakers alike." I've made 8 out of your 6 listed mistakes and in some cases I still am. Thanks for the slap across the head - this is so much better than a V8, however, because a V8 fills the stomach whereas this fills the soul and the pockets.
Owner at RSW Technology Guide
9 年Good information Dawn Pici. I am starting to do technical training for Realtors and will explore the steps you mentioned!
Healthcare Advisor | Insurance and FINRA Education Online | Entrepreneur
9 年This article was very helpful Dawn. Many folks spend way too much time speaking for free or peanuts, like you said. I dare say that many of us have injured ourselves in this way. If you can't get paid your fee, then don't take the gig! Thank you Dawn.