BY JP MARONEY
As I see it, the best way to develop a profitable business is to build a massive money funnel. In other words, set up multiple income streams that consistently pour profits into your bank account.
There are 6 “income streams” available when you build your business around the “speaking model” — plus 3 bonuses “benefit streams” you’ll love.
1) Speaking Fees
As a paid speaker, you get paid a fee each time you speak. Simple enough.
But few people realize how much money is avialable to speakers. For example, speakers frequently earn $2,000 to $7,000 for a 45 to 90 minute speech.
Today, my fees are even higher than that.
2) Sponsorships
Did you realize you can actually have companies sponsor your presentations? It’s not much different than an athlete who’s being paid to endorse a product or service.
I’ve had multiple companies sponsor my sessions — my seminars. It’s a great way to add-on to your income.
Your sponsor wins by associating with a solid information provider. You win by getting additional money for your time.
3) Product Sales
This is a biggie. The income potential is endless.
Even though I receive $10,000.00 for a full-day seminar, that’s a drop in the bucket compared to what I earn selling products.
Items like books, videos, audio programs, learning systems, etc.
And, it doesn’t have to be limited to information products. If you have an existing business or professional practice, you can use speaking to quickly ramp-up your marketing, attract more customers and sell more products and services..
I’ve found that audiences trust speakers. And buy what speakers recommend to them.
It’s a fantastic way to explode your income potential for your existing products and services.
4) Consulting and Coaching Fees
When you stand on a stage in front of an audience, there will be people out there who want you to come into their business and help them. It’s a natural response.
If you speak on personal development topics, you can sell personal coaching services. People will trust you — and want you to help them.
This reaction from audiences will only increase your income and build your massive money funnel.
5) Membership Sites and Other Services
As you speak, you’ll build a huge list to market back to. One of the best things to market is an ongoing membership program.
It’s a way for you to share with and help your “list” month after month. Even after you’ve left the stage.
And, it’ll provide you with ongoing, residual income that’s fantastic.
6) Joint Venture Income
As I’ve already said, people will buy what a speaker recommends.
This leaves you in a powerful position to recommend other people’s products and services that you believe in — and hopefully use personaly.
What a way to integrate other promotions and products into your message. And earn an additional income stream as well.
OK… I promised you…
3 Bonus Benefits…
Here they are:
1) Free food
Whenever I speak, my clients pay for all my food. I eat in the best restaurants, resorts and clubs.
And my clients cover it all…
2) Free travel, cars, and hotel
Again, when I’m out of town speaking at a meeting, all my expenses are covered. This includes hotel, rental cars, limos, airfare, etc.
Everything…
My speaking fee and product sales are completely on top of this. I have virtually NO expenses whatsoever attached to my speaking fees.
3) Celebrity status
OK, this last one may not interest you. Celebrity Status!
Who needs it?
Well, I can tell you this — people pay celebrities more than they do everybody else.
They also believe them faster, and buy more from them.
So, by establishing your “celebrity status” as a speaker — you’re really enhancing your ability to make more money.
Finally…
Truly, the speaking business offers you the fastest way anywhere to build a profitable business and develop multiple income streams.
What I call your “Massive Money Funnel.”
You can learn how to develop your own high-profit speaking business by listening to the FREEÂ recording of my recent teleseminar, “The Pitfalls & Profit Potential of Public Speaking.
Go to http://www.speakerformula.com/replay to get immediate, online access to the recording.
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JP Maroney a.k.a. “The Pitbull of Business” is a business growth strategist, best-selling author and award-winning speaker. Receive his FREE book, “5 Ways to Double or Triple Your Business” by visiting www.JPMaroney.com
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This is a fantastic breakdown of the income possible through speaking.
It’s also useful to understand levels of commitment and how that affects what people will pay for your products and services.
Getting someone to spend $100 to $500 after they’ve heard you speak for one hour is fairly easy.
Getting them to spend $1,000 to $5,000 or MORE after they’ve attended a 4 hour to 2 day workshop is a very real possibility.
On the other end getting a prospect to your seminars is much easier after they may have paid you just $20 to $50 for a book, ebook or audio CD set.
There’s a natural progression you should be trying to create.
Of course JP knows this and it’s just one of the great strategies he’ll teach you with his mentor program.
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