Why Speaking Is The Highest Paid Profession

You may be aware that public speaking is one of the highest paid professions on planet earth. But today I want to explain exactly why that is the case. Because quite often when people find out how much money people earn from professional speaking, they in fact finding it an unfathomable amount.

What I mean by unfathomable is they simply cannot even comprehend how it's possible to generate the kind of income that a lot of these professional speakers generate in a very short period of time.

I remember the very first time I ever met a professional speaker, and they mentioned to me that they went from earning $60K a year to $60K a day, and I couldn't even comprehend how that was possible. I mean, how the heck does somebody earn $60K in a single day?

Back then I was working in recruitment, and when I thought about my annual salary, which was about $120K as a base with on target earnings of about $200K, I couldn't work out how is it that I'm really just working my butt off day in, day out, doing 60 to 90 hour weeks and I can barely get to $200K a year if I really, really pushed myself. I only really just scraped through to 120 most years, but how is someone out there making $60K in a day? I couldn't even comprehend it.

Because I couldn't fathom it, because I couldn't comprehend it, I thought the person I was speaking to was actually lying. In my brain, I'm like, "You're just making this stuff up. This is all a load of rubbish." When we can't comprehend something, when we can't fathom something, we often deem it to be a lie, and this is a very important thing to keep in mind. One of the things that you want to test yourself with, or stretch yourself, with is comprehend a very important question.

How can I fathom the unfathomable?

Adding Up The Maths

Now, when this person told me that I'm making $60K a day, I did the maths, based on an hourly rate. I said, all right, if you're doing about roughly six hours work a day with lunch breaks, then you're getting $10K an hour to speak. I mean who gets paid $10K an hour? Not even lawyers or doctors or anyone gets paid that. I mean, how can a human being get paid $10K an hour?

It's because I did the mathematics in an unleveraged way. I did the mathematics based on time for money, but this is not what professional speakers get paid for.

Professional speakers get paid for impact, and the amount of people they impact at the same time. What they actually end up earning is something known as a leveraged income.

Leveraged income is where you provide value to more people at the same time, and this is really important to understand. Until you get up on a platform, you start speaking to groups of people, what we call one to many delivery, it's almost impossible to fathom leveraged income.

Leveraged Income

A lot of people want to earn $100K a year as a presenter, and I want to show you how to get to $100K a year using leveraged income. Remember, if you try to work out how does someone earn $60K in a day using time for money, you'll probably drive yourself insane. But if you try to work out how does someone earn $60K in a day using leveraged income, it becomes a lot easier.

Someone once told me a statistic. I don't know if it's true or not, but it's kind of sounds pretty interesting. The statistic is this, if Bill Gates was walking down the street, and he was to drop $25K cash out of his back pocket, if he took eight steps and realized he dropped that money, and turned around and saw the money lying on the ground, $25K after just taking eight short steps, it is no longer worth him turning around to pick it back up.

Do people make $60K in a day? Yes, they do. In fact, there are people that make significantly more than $60K in a day. They make hundreds of thousands of dollars in a day, but they do it based on a leveraged income.

How To Earn $100K As A Presenter

If we want to earn $100K a year as a presenter, we have to look at a couple of ways of doing that, and there are two core ways you can do it.

You can do it as a paid speaker where you walk up to events, and you present and share a message like a keynote presentation at a corporation, and you get paid a one-off fee for that presentation.

Now in Australia, the fees for keynote presenters range anywhere from $2K up to $10K for roughly a 45 to a 90 minute presentation, so between$2K - $10K.

One of the clients that I've worked with privately, he gets paid $37,500 every time he presents, and his talk is only 40 minutes long, so that's pretty good time for money if you work it out. But when he's presenting, he's not presenting to one person, he's presenting to entire corporations, often two to 300 people at a time. So the $37,500 dollars he gets paid for his 40 minute talk, it works out because the number of people he's impacting at the same time.

1. Keynote Presentations

Keynote presentations is a way of doing it. And keep in mind, as I said, in Australia, you charge anywhere from about $2K - $10K depending on how good you are, what your brand position is like, obviously how impactful your message is, and really how you present the offer that you have as your presenting skills.

If you think about it, if you have a $10K keynote presentation, well you only got to do 10 per annum. That's it. Just 10 talks a year and you've made $100K. If you charge $5K for your presentation, you've only got to do 20 talks a per annum, and you've made yourself $100K.

And if you charge $2K for your keynote, well I think you do the math, you're going to go do 50 talks a year to get to your $100K. To get to a $100K as a keynote presenter is pretty easy once you start to do the math.

2. Workshops

Another way of getting to $100K as a presenter, is to actually run workshops of some description.... ie workshops, seminars, retreats, live events that you charge a fee for. I don't know if you know the average ticket price of an event in Australia that is four days long on any topic. But the average ticket price for an event that is four days long on any topic, it's actually $3K.

If we keep that in mind that the average event is $3K in Australia, when you actually go to an event, that's what you're paying. In order for us to get to S100K, we have to roughly do anywhere from 33 to 34 participants, but let's just say that we have 36 participants that are really required. So 36 people pay $3K to come along to our four day event, then basically we ended up at our $100K.

If we break that out across the year, it works out at just three people per month coming to your event. If I gave you a full month to find just three people to come along to your workshop, if you had a full month to do that, I'm guaranteed you'll be able to find three people.

If you did that every month for 12 months, so every month you speak to just three people for four days, by the end of the year you will have made a $100K. Now speaking to three people at once though is not a very leveraged income. Here is the suggestion. If you were to get all 36 people in one room, at the same time for the same four days, then you actually end up making $100K for your four day event, which works out at $25K a day.

If you had just made $100K for teaching a four day event in January, and you had $100K sitting in the bank account, what would you likely do in February? Now we asked people all over Australia and throughout the world this question and some people say, "Oh, Ben, I'd go on a 9 or 10 month holiday. I'd go to the beach and sit in a hammock." But the fact is that is not what you would do.

If you just made $100K sharing your message, doing what you love, inspiring people, giving value to people, and hearing the people in your room expressing how much value they got from you, the change they made, the impact you've had on their lives, and you feel what it feels like to be an inspiration, I know what you're doing in February. What you're doing in February is you're running the event again.

If you run an event every month with 36 people in it for an entire year, you end up earning $1.2 million gross revenue from presenting. To get to a million dollars a year from presenting, you've really just got to find 36 people a month to come along to your workshops.

But what I wanted to show you is the maths behind how you can get to $100K a year, and why you can now appreciate that professional speaking, as in speaking to the general public in rooms full of people, is one of the highest paid professions out there.

In fact, regularly we have clients that we've worked with that we've assisted to put their talks together and go out there and present, actually have six figure days. What does that mean? It means they earn a 100K or more in a single day.

Not everybody obviously achieved this, but this is something that is definitely possible. And we've actually had a couple of people go on to make over a million dollars in a single day. It really is important to realize that not only are these figures unfathomable, but they are actually achievable once you know the process.

Once we've explained that to you, so it actually sort of demystifies why is speaking such a highly paid profession, it's because of leveraged income.

Next time someone is explaining the concept behind professional speaking, and they're explaining some of the figures in the revenues of that speakers make, hopefully now you can actually realize the mathematics behind it.

That you're getting paid for the number of people's lives you impact at the same time.

You're getting paid for the amount of value you share at the same time. And the more people who receive your value, in the same moment in time, the more valuable you are. That is why public speaking is one of the highest paid professions on planet earth.

I hope you got value out of this. If you did enjoy this video, please comment down below. Please share it with your friends if you think they might get some value out of it.

Read more about: Marketing, Speaking

Ben is the Difference-Maker Mentor and Co-founder of Authentic Education. He is exquisite at inspiring people to share their message, make a difference in the world and live abundantly on purpose.

Ben has been featured in media such as the Today Show, Inc.com, Entrepreneur.com, Huffington Post and News.com.au.