Professional speaker is a skill set,
not a job description.
Multiple revenue streams provide resilience
in your business model so that when one part
of your business is down, another might be
up. It’s insurance at the very simplest level.
Build that insurance into your business
today; then, no matter what happens with
industry trends or with you personally, you
can still get paid for your expertise.
Diversify the methods and media
through which you share your
expertise with the world.
Audio programs (CD, mp3, podcast)
Video programs (DVD, streaming,
e-Learning modules (using simple tools
like Teachable or Kajabi)
Online forums and communities
Figure out which of these makes the
most sense for you, then calendarize them
over the next 12 months.
Appoint yourself CEO of your
Making money in this business is not optional. As
someone who works with professional speakers
along the full spectrum of experience, I can tell
you the number-one thing that separates successful speakers from struggling speakers. Successful
speakers don’t consider themselves speakers. They
consider themselves the CEO of their speaking
business. CEOs demand a relentless focus on
MMA: Money-Making Activity. CEOs know when
their company is profitable and when it is not.
CEOs have the rare skill of being able to panic
early—and then get into massive action to correct
course before it’s too late.
Most important, CEOs are never “OK” with
not making money. They put all their weight, all
their creativity, and all their commitment behind
making payroll. You don’t have employees, you
say? Sure you do! You are Employee No. 1. Are you
paying yourself enough? Are you paying yourself
at all? What would the CEO think of not paying
the star employee who is responsible for 100 percent of your company’s profitability?
Put yourself on a paycheck.
If you have employees in your speaking business,
you do this already. If you’re a company of one, you
don’t need payroll software or a payroll company.
You simply mark your calendar for the second
and fourth Friday of each month as “payday” and
then make a transfer from your business account
to your personal account. The quickest way to
earn $50,000 as a speaker is to divide that number
by 26 ($2,083.33) and every payday, transfer that
amount. This is also the quickest route to $100,000,
$200,000 or more! I won’t get into setting aside
money for marketing, taxes, operations, and so
on, but right now, that’s probably not your biggest
challenge. Right now, you need an early warning system to help you refocus on Money-Making Activity
when the coffers are running low. The self-paycheck
practice will provide that plus a much-needed sense
of urgency, so you pay more attention to the money
flow in your speaking business.