What is your Speaking Business model?
What is your Speaking Business Model?
By Douglas Vermeeren, 10X Your Speaking Business
Many speakers want to create a successful and profitable business. The reality is that there is a lot of competition out there and only a small portion of speakers are actually even able to do this full time let alone build a prosperous business. There are a few things that you can do to increase your chances for success and the first thing would be to determine the business model you are going to use for your speaking business.
Early in my business career I had an experience that may be useful to share. In my late teens I had an idea for a business. I had a family friend that expressed he might be willing to help me launch it. He invited me to assemble my materials and come see him. I decided to get busy and build a business plan. I borrowed books form the library and got busy assembling what I thought a business plan looked like. I’ll never forget the night before I was at the local Kinkos putting the finishing touches on the plan until two a.m. adding colour diagrams and images. I put in a lot of work.
The next day when I brought it for him to take a look at he didn’t even open it up. Instead he asked one question. Where are the transactions in your business? He then explained that while a business plan was useful it was only a guide and often changed with the marketplace conditions, challenges faced by the business and many other factors. However if I knew where the transactions were I could recognize what activities where going to make my money.
So today I’m not going to tell you how to build you business specifically but I want you to think about where your transactions are. Here’s a small list some of my students came up with at on of our High Profit Speaker events:
Speaking for a fee
Selling product from the stage
Be an MC
Speak at schools
Coaching
Consulting
Mentoring
Joint venturing
Training for others
online courses
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Workshops
Subscriptions
retreats
study at home courses
franchising/licensing
Cruises
Network marketing trainer
Selling products in stores/infomercials
Product consultant
Hosting your own events
Event consultant
Mastermind host
Speaking bureau
Writing articles or blogs
Media guest
Smart phone applications
Designing a game (ie. Cashflow)
Naturally there are many more options. I have listed only the few my students mentioned at our last event. Naturally there are many more. Feel free to pick ones you’d like to use and make a comment and list the ones that are not mentioned here.
