I understand that others who host the events will continue to encourage others to pay to speak; simply because it benefits them through deep pockets and attendees. However, my background in getting paid to speak for many years, has me seeing this as a way that the event host is taking advantage of those who want to be known, seen, and heard. Moreover, it tells me that the host of the conference more than likely doesn’t have much to offer, because they can’t be fair in their business dealings and fork out the money the speakers deserve. Lastly, it tells me the event will more than likely not be worth going to, because they don’t have speakers who devalue themselves by not getting paid to speak. I would much rather attend a conference where they are bringing in a $10,000 an hour speaker; because, now I want to be like that speaker, learn from them, and hire them.
Understand, clients who learn from you want to be like you. In the depths of one’s heart their passion is not to pay their way to the stage; rather, their passion is to have such an impact on the lives of others that they are wanted so greatly others are willing to pay them. So, if you only know how to pay your way to the stage, then potential clients will know that this is the level you will bring them to.
If paying to speak is something you truly believe in and want to try, then I encourage you to do so wisely. Keep a record for one to two years (depending on how often you pay to speak), of all your expenses and all your income generated through this strategy. In the end, I can almost guarantee that, even if you are ahead financially, the hour to dollar ratio is not worth it. Yes, track your hours spent in traveling, the money you earned, and the money you spent from the time you left your home to the point of return. Then, calculate your hourly pay. Then, and only then, will you know for sure if it is a wise decision for you. Lastly, consider the fact that you can earn more sitting in your office networking online, building your company through word of mouth, attending local events, and speaking at local events for free if you can’t get paid.
When this new concept came about, I had to try it to prove it to be correct or incorrect. In fact, I did this a few times, and almost every time it was a big fat fail. Allow me to tell you about my latest research findings. I was offered a gig in Chicago, Illinois, about four hours from my home. The only reason I said, “Yes”, was because I thought it would be a great date for my husband and me. We could go for a couple of days and explore Chicago, I could go in and speak at my scheduled time, and we could come back home to our children. The smaller thought bouncing between my ears was, let’s give this one last try for research.
I spent about $800 on overhead for this event—to include gas, lodging, food, and promotional materials. Upon arriving at the event, there were only three people who were members of this organization and about thirteen who were guest—audience of sixteen. I am not even sure I need to say any more about this, but I will for clarity if you don’t see it yet. The three members were not buying—not my target audience—because they had their own agenda to bring the thirteen guests into their organization. The other thirteen were there to be sold to by the three already members. Therefore, why would they buy from me? Of course, some would say, ask more questions before hand to know your audience. Well, I did, and was misinformed. However, let’s look at this for what it truly is. The meeting planner had no integrity in allowing a speaker to travel round trip of eight hours and spend about $800 for an audience of sixteen who she was working to sell to. (This is typical of pay to speak gigs…the meeting planner has themselves and their event at the forefront, not you.)
Now, some may argue that they have great results with paying to speak to sell. To this I say, “Great!” However, the true question to answer is: Would you rather pay all overhead expenses in hopes to obtain a client, or would you rather get paid thousands of dollars to speak plus obtain clients? To me, this is a no brainer. Moreover, people are at their wits end with being sold to. People don’t want to attend events where every speaker is speaking to sell. Most would much rather pay to attend an event where there is going to be a speaker who is getting paid $10,000 an hour, because it clearly shows value.
It truly is up to you to decide if paying to speak to sell is a correct fit for you. If you find yourself agreeing with me, the only way to stop this strategy (that typically only benefits the host of the event) is to say, “No”, when asked to pay to get on stage. I strongly believe that speakers need to put the power back into their own hands, and value themselves enough to get paid.