How to make 7 figures in the public speaking and training industry
Putting it in perspective
The first thing that comes to mind when we talk about the public speaking and training industry is to think of the huge annual seminars, conferences, and conventions often held by industry associations, societies, and professional bodies. Added to this is corporate training by elite universities, polytechnics, colleges, giant consulting firms, and the like. Not far behind are the giants of global motivational speech and famous speakers like Tony Robbins, Brendon Burchard, Darren Hardy, Jack Canfield, Victor Mark Hansen, Les Brown, Brian Tracy, and hundreds and hundreds of other giants. Then you have super famous business moguls like Donald Trump and Richard Branson who are paid up to $ 100,000 per appearance. These business moguls are one of a kind. Some books have generated global movements such as Chicken Soup for the Soul by Jack Canfield and Mark Victor Hansen, Rich Dad Poor Dad by Robert Kiyosaki, and Guerrilla marketing by Conrad Levinson, to name a few. So there is a huge market out there.
How big is the industry?
Industry.com Training estimated that the global market for training expenditures in 2011 was about $ 287 billion. They expected the market to grow to about $ 292 billion in 2012. Market data company he estimated the “self-improvement” motivational market to be about $ 10.4 billion. In my opinion, these are very poorly reported figures, as they may at best reflect the market of OECD countries. Putting all countries in the picture can result in figures three times larger, making it a huge industry, clearly overlapping with other industries such as ICT and education, where formal education, certification takes place and the like.
Who are the key players?
Key players, as we mentioned at the beginning, include the corporate training arms of nearly every university, with elites like Harvard, Wharton, Stanford, Columbia, and MIT taking global leadership. It then has global leadership institutes like INSEAD in France, IMD in Switzerland and Cranfield in England. Then you have global consulting giants like McKinsey, Accenture, PWC, KPMG, not only consulting and auditing, but also training their clients on best practices. In the speaker segment, world leaders are Toastmasters International, the National Speakers Association (NSA), and the International Federation of Professional Speakers.
How can you belong?
A complete book can be written on how to become a trainer or speaker. The best place to start is by visiting your local library or neighborhood bookstore and looking for books on the training and conference sections. To help you get started, the best place to start is deciding what niche you want to serve. While you can play in different niches, the top winners are niche players who have developed experience in their niches to the point of becoming celebrities. To become a trainer, the best place to start is to become an expert or at least a knowledgeable professional in the area you want to train in, for example sales, leadership, and communication. To really target all seven figures, seek out the experts, undergo their mentoring and training, then join their networks. The best mentors will open their networks for you.
What can you sell as a trainer and / or speaker?
The training and public speaking industries have overlapped so much that it is sometimes difficult these days to tell where one ends and the other begins. For all intents and purposes, the two industries are tending in one direction and are merging into one large information industry. However, for the purposes of this article, we will keep the two industries separate, at least for now. To be a coach, the most lucrative segment to focus on is corporate training. Most publicly traded companies spend large sums on their annual training budgets, sometimes up to 10% of their pre-tax profits, so there is a lot of money to be made there. Like I said before, the more focused you are, the better. In the segment or niche of speech or motivation, while also selling experience as a coach, unlike the corporate coach, you will sell directly to individuals most of the time. So, to truly be successful in the speech industry, you need to develop your unique style of what you want to sell to your target audience. As the saying goes, there is nothing new under the sun. If you look back at how the industry developed from the days of Napoleon Hill, W. Clement Stone, Earl Nightingale, Jim Rohn, Bryan Tracy to today’s icons like Tony Robbins, Darren Hardy, Marcia Weider, and Brendon Burchard, The One thing that sets the most successful speakers apart was and still is the ability to develop a unique style that puts you on the radar.
How to make 7 shapes
Thanks to technology and the proliferation of mass media, the training and speech industries are merging into one large industry that people now refer to as the information marketing industry. When you sell corporate training, what exactly are you selling? If you look closely, you are selling information and ideas. Perhaps how to better perform certain tasks, how to hone a particular skill, or how to steer a change in attitude or behavior in a more desirable direction. The same applies to motivational speech. The result you want is the same, you are conveying ideas and information that your audience can use to improve their lives in various areas, such as health, wealth, self-confidence, time management, and other dimensions. Whereas in the past an average speaker, if they were lucky, could bring ten or twenty people into a room to hear what they had to say, today they have a global audience, thanks to the internet. So the first step towards your 7-figure profit is to harness the power of the internet and associated technologies to your advantage. According to Janet Switzer, there are more than 50 information products that you can market. Assuming you have 20 products and can sell for just $ 10,000 per month at a rate of just $ 20 per person, you can earn around $ 4,000,000 per month. Not bad to start with, but it won’t happen overnight. You have to keep it up and be willing to pay the price. I know celebrities who are making more than that figure per month, so dive in, the water is hotter than you think.