We all like to think that we’ll be rich one day, no matter how realistic that might be. That’s also the reason why so many people are on the lookout for get rich quick schemes, most of which either don’t work or are outright fraudulent.
Now, we’re not here to tell you that if you learn public speaking, you’re automatically guaranteed to make a ton of money, because that’s not how it works. With that said, it’s a powerful tool that you can put to use to make more money than you might otherwise, and if you’re good enough, then who knows where it will take you?
And so now that we’ve got those disclaimers out of the way, let’s get into the meat of today’s article. Here are seven ways that public speaking can make you rich.
1. Paid public speaking gigs
This one is perhaps the most obvious thing we’re going to talk about, because if you can get paid for talking at events then you can start to monetize your expertise. The better you are at what you do, the more you can charge for your services, with some of the big names getting paid tens of thousands of dollars for a single appearance.
It’s not always easy to find these paid gigs though, and so it can take a lot of time for you to build your reputation to a level at which people will be willing to pay you. But if you’re persistent enough and put in the hours, you’ll get there eventually, and you can pair this with some of the other tips that we’re going to talk about.
This is similar to the last point in that not every public speaker is able to obtain sponsorship. With that said, once you reach a level at which you’re making a living as a public speaker, you’ll be traveling all over the world to talk to people. If you can introduce people to a sponsor’s brand while you’re doing that, they’ll be more than happy to pay you for the privilege.
Sponsorships aren’t always easy to obtain, but if you can make them work for you, they can make a huge difference to your bottom line. They can also help to boost your reputation because if a big brand trusts you enough to go into partnership with you, it boosts your credibility and reputation.
3. Book deals
There’s a reason why so many public speakers have books on the market. Book deals are notoriously difficult to get, and so unless you already have a large following then you may be better to self-publish. You’ll also be lucky if you’re offered an advance, although that won’t matter so much if the royalties start pouring in.
The great thing about book deals is that they can funnel money to you in a variety of different sales. There are the royalties you’ll get from online sales and the cash you’ll get from any books that you sell in person, but you can also use your books to showcase your expertise and to justify charging higher fees for public speaking and consultancy work, which we’ll talk about later.
This route only really applies if you’re employed by someone else as opposed to being self-employed, but if you do work for a company, then public speaking can help to give you the edge when promotions are up for grabs.
Promotions can help make you rich because they mean that you’ll bring in more cash each month with your paycheck, and who doesn’t want that? The downside is that this only works if you’re in full-time employment and if you are, you may be limited when it comes to which of these other avenues you can go down.
Niching is the process of finding a niche that you can specialize in. For example, you might specialize in talking about technology in the healthcare industry, or perhaps your whole brand is about making the most of your time and sharing productivity hacks.
Whatever the case, if you’re able to find a niche and to stick to it, you’ll find that you can charge more for your time because you’re perceived by people as the go-to expert in your niche. If you’re the best in the business, people will be more than willing to pay a premium for your services.
Affiliate programs are essentially systems where companies give you a kickback if you drive new customers or sales to them. For example, Amazon has an affiliate system where if you link people through to Amazon and they make a purchase, you’ll earn a small amount in return. A lot of book bloggers use this to monetize their blogs.
As a public speaker, you may be able to bring in some cash from affiliate marketing by striking up deals with companies so that when you recommend their products and people purchase them, they reward you. For example, if you talk about marketing and you’re always recommending a specific CRM, it makes sense to see if you can become an affiliate of that company to make some extra cash.
7. Consultancy work
The final thing that we’re going to talk about today is consultancy work, which is essentially when a company pays you to come in and make recommendations about how they can improve their business.
As a public speaker who is perceived to be an expert in your niche field, you’ll be able to provide a huge amount of value to companies who bring you in to take a look at what they’re doing. Imagine a novelist being able to pay Stephen King $100 an hour to read their work and provide feedback. That’s consultancy work in a nutshell.
Now that you know our thoughts on how public speaking can make you rich, we want to hear from you. Have you been able to monetize your public speaking? And if so, what steps did you take to make that happen?
As always, we want to hear from you, so be sure to keep the discussion going by letting us know your thoughts in the comments. You can also follow us on your favorite social networking sites for more. We’ll see you soon for another article!
This was originally posted on SpeakerHub Skillcamp.