With the National Speakers Association NSA Winter Conference, Thrive, starting up, Coach Simple is helping Speakers create “off-stage income”.
Why do most speakers generate revenue only when on-stage or on-zoom?
There are many pillars of income speakers can tap into, that could help them scale their business, generate recurring revenue and reduce the revenue gaps caused by unpredictable conference schedules. Each of the pillars alone can match or even exceed annual speaking revenue. Combined them all and achieve a 6 or even 7 figure business. Unfortunately, too few speakers master, or even attempt these multiple pillars of income.
Coach Simple Will Show You How to Master The 4 Pillars of Recurring Revenue
With your Books, Speaking Engagements and Inbound Marketing at the top of the Funnel, ensure you are sending your audience to a landing page that offers high value incentives to submit contact information in return. These resources include how-to guides, industry insights or software tools your audience can use to impact their own businesses.
Whether your leads are generated at the back of the room or by QR Code/Contact form submission, the buyer’s journey starts with giving away value, such as a legitimate business building tool and then your follow-up must guide your audience to subscribe to a less expensive subscription based product that provides tremendous value while keeping the implementation stress to a minimum.
Pillar #`1: Membership Platforms.
A Membership Platform is a simple, low cost offering that delivers a resource library of your videos and template documents and a self-guided semi-structured learning program. Membership Sites can generate $49-$199/mo. or more depending on the scarcity of your content and value of your brand. Your goal should be generate revenue equal to your speaking revenue in just this single pillar of revenue.
Quick Math: 100 members paying $199/mo. generates $238,000 per year
Pillar #2: Group Coaching.
As your Membership Model provides value content, next level ideas and a track record of member success, members should be guided to join a Group Coaching Program, that offers members with more direct coaching and accountability. Group Coaching is the perfect place to engage with groups of 20-100 participants while investing only a few hours per month. Group coaching programs can easily generate $199-499/mo. per participant.
Quick Math: Quarterly cohorts of 50 group coaching participants paying $499/mo. generates over $250,000 per year
Pillar #3: Masterminds.
For those in Group coaching that identify the need for a more intimate group setting with more depth and accountability, a Mastermind is a great way to provide the structure many need while still leveraging efficiencies of a group. Masterminds can easily generate $499-999/mo. per participant and are generally comprised of 8-12 individuals.
Quick Math: Run 2 Masterminds at a time with 10 members in each, paying $999/mo and generate $240,000 per year
Pillar #4: One-on-one and Team Coaching.
Some clients know they need to work directly with an expert in a focused and customized program. One-on-one Coaching and Team Coaching services provide this level of consultation and personal touch. Coaching at this level can generate $1500+ per month and quickly can become a Consulting engagement at $10,000+/mo depending on the size of the team or organization and the customized program that is needed.
Quick Math: 15 coaching clients averaging $1500 per month generates another $270,000 per year
If you are a speaker who only generates on-stage revenue, exploring these 4 pillars of recurring revenue can help you scale your speaking business from a 5 and 6 figure lifestyle gig to a 7 and 8 figure business.
Schedule a call with a Coach Simple Recurring Revenue Expert to help you design your recurring revenue model, expand your existing services or scale your business to the next level.