For many aspiring speakers, the dream begins with earning a living by captivating audiences from the stage. But as exciting as speaking engagements can be, relying solely on speaking fees isn’t a recipe for long-term success.
In So You Want to Speak, I emphasize that professional speaking is only one part of a much larger picture. To build a sustainable revenue model, you need to think beyond the stage. By diversifying income streams and creating systems that generate passive revenue, you can secure your career’s longevity while expanding your impact.
Why Speaking Fees Alone Are Not Enough
The truth is, speaking fees can be unpredictable. Seasons shift, budgets fluctuate, and unexpected events (like a global pandemic) can disrupt your calendar. Even at the peak of your career, relying exclusively on speaking can create a feast-or-famine cycle.
Additionally, speaking engagements demand your time and presence. If you’re not on stage, you’re not earning. This model limits both your income potential and the time you have to grow other facets of your business.
Diversify Your Revenue Streams
The key to a sustainable speaking business is to leverage your expertise in multiple ways. By diversifying your income streams, you create stability and open up new opportunities to connect with your audience. Here are three powerful ways to diversify:
1. Coaching
Your speaking engagements can position you as an authority in your field, and many attendees will want to go deeper. Offering one-on-one or group coaching allows you to provide tailored guidance while earning additional revenue. Coaching builds on your stage presence, turning inspiration into actionable change for your clients.
2. Online Courses
Digital platforms make it easier than ever to transform your expertise into online courses. Whether it’s leadership development, public speaking skills, or personal growth, a well-designed course allows you to scale your message and reach audiences beyond the stage. These courses can be sold repeatedly without requiring additional work after they’re created.
3. Consulting
Organizations often look for deeper engagement than a single keynote. Offering consulting services lets you help companies address their challenges over a longer period. This not only diversifies your revenue but also strengthens your reputation as a trusted expert.
Build Systems for Passive Revenue
One of the most critical lessons in So You Want to Speak is the importance of creating systems that generate revenue without your direct involvement. This shift from active to passive income ensures you’re not trading all your time for money.
Here’s how to get started:
- Develop intellectual property. Create frameworks, templates, or methodologies you can license to other professionals or organizations.
- Launch a membership platform. Offer exclusive content, group coaching, or community access for a recurring fee. This creates a consistent revenue stream and fosters deeper audience engagement.
- Automate your marketing. Use email funnels, social media ads, and webinars to promote your courses or services. These systems work in the background, allowing you to focus on delivering value elsewhere.
Think Like a Business Owner
Building a sustainable revenue model means thinking beyond your role as a speaker and embracing your role as a business owner. Every decision should align with your broader goals: stability, growth, and impact.
Ask yourself:
- What products or services can I offer to complement my speaking?
- How can I make my business less dependent on my physical presence?
- What systems can I put in place to streamline operations and free up my time?
Final Thoughts
The business of speaking isn’t just about commanding a stage—it’s about building a diversified, resilient model that supports your vision for the long term. Speaking fees are just the beginning. By adding coaching, courses, consulting, and passive revenue systems, you can create a thriving thought leadership practice that’s as sustainable as it is impactful.
Ready to take the next step? Start thinking beyond the stage and explore the full potential of your expertise. Your future—and your audience—will thank you for it.