Certainly, a career in public speaking can be quite profitable. When we think of speakers, we often picture comedians and professors. But have you ever wondered how someone can make a living by inspiring others through their words? If you haven’t, let’s break it down for you.
Getting started in the world of professional public speaking may seem daunting, but with a few key strategies, you can launch and sustain a career as a motivational speaker or life coach.
Motivational speakers aim to motivate their audience to take action. They frequently appear at workshops, seminars, conferences, schools, and various events. Successful motivational speakers can attain fame, recognition, and financial success through their speaking engagements.
Many former politicians and athletes have shifted into motivational speaking, attracted by the financial rewards and the chance to inspire others. However, before embarking on a career as a motivational speaker, aspiring speakers should understand how the speaking circuit’s payment system operates.
In this article, we’ll explore the ways in which motivational speakers earn income:
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What Do Motivational Speakers Do?
Motivational speakers do more than just give uplifting talks. They aim to educate their audiences, helping them apply the speaker’s inspiring insights to improve their lives. Their roles vary, like motivating employees to enhance skills, guiding athletes in training, steering youth away from risky behavior, or teaching stress management to law enforcement.
Some specialize in inspirational keynote speeches at events, while others offer extended training sessions on topics such as customer service, management, or personal development.
Because of the COVID-19 pandemic, many have moved to online platforms, providing live talks, webinars, and digital books to reach a larger audience. If you have a strong brand and positioning, there are numerous ways for you to earn money online.
How Much Do Motivational Speakers Make?
Understanding the earnings of motivational speakers comes down to a few key factors. Speakers often use their brand to create other income opportunities, but building a sustainable income takes time.
The income of a motivational speaker can vary based on factors like expertise, reputation, and experience. According to information from Motivationalspeakerz.com, here’s a breakdown of potential yearly earnings:
- Beginners: $0 – $2,500
- Average: $2,500 – $5,000
- Good: $5,000 – $10,000
- Established: $10,000 – $20,000
- Authority: $25,000 or more
- Top-tier speakers can earn even more.
Motivational speakers are typically self-employed, but we also found salary data on Salary.com. As of September 25, 2023, the average salary for Motivational Speakers in the United States is $78,498, with a typical range between $64,687 and $95,843.
To succeed as a motivational speaker, it’s crucial to choose a popular topic. Here are some sought-after topics:
- Business
- College
- Female empowerment
- Leadership
- Resilience
- Sales
- Teamwork
These topics often have higher budgets for speakers, so your choice can significantly impact your income as a motivational speaker.
How to Become a Motivational Speaker: 7 Steps
There are many ways to become a paid speaker. Here’s a breakdown of the basic steps:
1. Find Your Expertise
Most paid speakers are seen as authorities in their chosen field. If you’re planning to speak about a subject you’ve worked in, you might already possess the knowledge needed. However, continually expanding your expertise over time can help establish your authority. Even when sharing personal experiences, some research can provide valuable context and support for your message.
2. Develop Your Speaking Style
Successful speakers often have a unique perspective on their topics. Your “voice” includes not just what you say but how you say it, including your tone, style, and choice of words. It may take some trial and error to find a speaking style that feels authentic and resonates with your audience.
3. Start Small and Grow
Building a reputation as a speaker often begins with smaller events. Even speaking to a small audience can help you refine your skills and gain credibility. You can find speaking opportunities through your personal and professional networks, and it’s a good idea to let people know you’re interested in public speaking.
4. Tailor Your Message
Customize your speech to fit the needs and expectations of your audience. Understand their interests, challenges, and goals, and adjust your content to resonate with them. Flexibility is key to delivering a relevant and impactful message.
5. Build Connections and Referrals
As you gain experience, your network of professional contacts will grow. Let those who hire you know you’re open to more speaking opportunities, and they may recommend you to others. Doing an exceptional job at each speaking engagement can lead to word-of-mouth referrals.
6. Keep Learning and Improving
To excel as a motivational speaker, continuous skill development is crucial. Regularly assess your speaking skills and presentation techniques. Identify areas where you can improve, whether it’s your delivery, storytelling, or audience engagement. Attending events and listening to successful speakers in your niche can be invaluable. Observe what works well in their speeches and adapt those strategies to your own style. To ensure that your speeches remain relevant and up-to-date, stay informed about the latest developments, research, and trends in your field.
7. Promote Yourself as a Speaker
Once you’ve built a portfolio of speaking engagements and feel confident in your abilities, it’s time to market yourself. Consider recording and sharing your speeches online, joining professional organizations, enhancing your online presence, and creating referral incentives. Effective marketing can attract more opportunities and high-quality clients.
How to Make Money as a Motivational Speaker: 8 Best Ways
Motivational speaking can indeed be a lucrative career, and speakers often use a combination of income streams to maximize their earnings. Here’s an overview of the various revenue sources for motivational speakers:
1. Speaking Engagements
Speaking engagements are one of the main income sources for motivational speakers. Organizations, conferences, schools, and various events often hire motivational speakers to inspire and motivate their audience.
Speakers charge fees for their speeches, which can vary widely based on factors like their experience, reputation, demand, and the nature of the event. Fees can range from hundreds to thousands or even tens of thousands of dollars per engagement.
Motivational speakers can be hired for various types of engagements, including keynote speeches, workshops, panel discussions, commencement addresses, and more.
While speakers receive speaking fees, they may also need to cover their own expenses like travel, accommodation, meals, marketing materials, room rental, audio-visual equipment, and other logistical costs.
2. Book Sales
Many motivational speakers write and publish books that align with their motivational message. These books serve as an extension of their expertise and a way to reach a broader audience.
Motivational speakers earn money through the sales of their books. This income can come from physical book sales (e.g., hardcover or paperback) or digital copies (e-books) sold through various platforms like Amazon, Barnes & Noble, or their personal websites. As an example, Simon Sinek’s book “Start With Why” has sold over one million units alone.
When speakers are invited to speak at events, they often have the opportunity to sell copies of their books to the audience. This can be particularly profitable if they have a large and engaged following.
Books can also be sold through the speaker’s website or other online marketplaces. They may promote and market their books through social media, email marketing, and speaking engagements.
Authoring books can enhance a speaker’s credibility and authority in their field, attracting more speaking opportunities and potentially increasing their speaking fees.
Read more: How to Make Money on Amazon KDP
3. Online Training Courses
Motivational speakers can develop and sell online training courses or webinars. These courses are typically designed to provide in-depth guidance and motivation on specific topics or themes related to personal development, leadership, or self-improvement.
Speakers earn money by charging participants a fee to access their online courses. This fee can vary depending on the course’s content, duration, and perceived value.
There are various platforms available for hosting and selling online courses, such as Udemy, Teachable, Thinkific, and even the speaker’s own website. The choice of platform can impact the revenue and reach of the courses.
Effective marketing and promotion strategies are essential to attract participants to the online courses. Speakers may use their website, social media, email marketing, and speaking engagements to promote their courses.
Read more: How to Make Money Selling Online Courses
4. YouTube Channel and Advertising
Some motivational speakers create and manage YouTube channels where they regularly upload motivational and self-improvement content. This can include speeches, interviews, advice, and practical tips.
YouTube offers a Partner Program that allows content creators to earn money through advertising on their videos. When viewers watch ads on a speaker’s YouTube channel, the speaker receives a portion of the ad revenue generated by YouTube.
To monetize their YouTube channel, speakers typically need to meet certain requirements set by YouTube, such as reaching a minimum number of subscribers and watch hours.
Besides ad revenue, motivational speakers can use their YouTube channel to promote their books, online courses, merchandise, or speaking engagements, thus generating additional income.
Building a substantial and engaged audience on YouTube can take time and consistent effort. However, it can be a valuable platform for reaching a global audience and generating passive income through ads.
Read more: How to Make Money on YouTube
5. Brand Endorsements
Motivational speakers, especially those with a substantial following on social media or through their speaking engagements, may have the opportunity to endorse products or services during their speeches, videos, or on their online platforms.
Companies and brands pay speakers for featuring their products or services in their content. These charges can vary widely based on factors such as the speaker’s reach, engagement rates, and the specific product being promoted.
On digital platforms like TikTok and YouTube, speakers can collaborate with brands for sponsored content. They may create dedicated promotional videos or posts that showcase the product or service to their audience.
In traditional speaking engagements, speakers can integrate product recommendations into their speeches or presentations. This can include mentioning and endorsing products that align with their message.
6. Visiting Different Organizations
Many organizations, including businesses, non-profits, and educational institutions, invite motivational speakers to speak at their events, meetings, or functions.
When speakers are invited to inaugurate or keynote such events, they can charge a speaking fee. This fee is typically based on their experience, expertise, and demand.
Speaking at organizational events provides speakers with recognition and exposure within specific industries or communities. It can also lead to networking opportunities and future speaking engagements.
Organizational events that feature motivational speakers benefit from the speaker’s insights and ability to motivate their audience, while the speaker gains experience and financial compensation.
7. Private Consultation
Motivational speakers can offer one-on-one or group coaching sessions to individuals seeking personalized guidance and motivation. These sessions are tailored to the specific needs and goals of the clients.
Speakers can charge clients for their consultation services, often on an hourly or per-session basis. The fees can vary depending on the speaker’s experience and the depth of the coaching provided. For example, it costs $100,000 to get a one-on-one coaching with Dan Lok for 12 months.
Motivational speakers can market their consultation services through their website, social media, and speaking engagements. Building a reputation for helping clients achieve their goals can lead to a steady stream of clients seeking their guidance.
8. Public Seminars
Public seminars and conventions are events where motivational speakers can have a significant income opportunity. They are often organized on a larger scale, attracting a broad audience interested in personal development, motivation, and self-improvement.
Speakers are typically paid a substantial fee for their participation in public seminars. This fee can vary widely based on the speaker’s reputation, expertise, and the size and prestige of the event.
In addition to speaking fees, some speakers negotiate revenue-sharing arrangements. This means they receive a percentage of the ticket sales or merchandise sold at the event, providing an additional income stream.
Public seminars offer speakers a platform to promote their personal brand, books, online courses, and other products or services to a large and engaged audience.
Frequently Asked Questions
1. How much can I earn as a motivational speaker?
Earnings can vary widely based on factors such as your experience, expertise, and audience size. Some speakers start as side hustles, earning a few hundred dollars per engagement, while established speakers can earn thousands or even more for a single speaking engagement.
2. Do I need a specific area of expertise to become a motivational speaker?
While having expertise in a particular field can be advantageous, it’s not always necessary. Many successful speakers share personal stories of growth and transformation. Your unique perspective and ability to inspire change are more important than a specific expertise.
3. Can I start as a part-time motivational speaker and transition to full-time later?
Yes, many speakers begin their careers part-time and transition to full-time as they build their reputation and income. Starting part-time allows you to test the waters and gain experience while maintaining financial stability.
4. How do I market myself as a motivational speaker?
Building an online presence is crucial. Create a professional website, establish a strong social media presence, and share content that reflects your message. Offering free talks to local organizations can help you gain exposure and testimonials.
5. Are there other ways to monetize my message besides speaking engagements?
Yes, there are various income streams for motivational speakers. You can create content on platforms like YouTube, write books, host a podcast, or offer online courses. These additional sources of income can complement your speaking fees.
6. What skills do I need to succeed as a motivational speaker?
To succeed, you should possess excellent public speaking skills, charisma, and the ability to connect with your audience emotionally. Continuous improvement in these areas is essential. Moreover, strong marketing and business skills can help you secure speaking engagements and maximize your income.
Anthony Smith is an internet entrepreneur. He created the Side Hustle Ideas Database to help people find side hustles for making extra money, with the potential of turning into a full-time income.
After graduating from the University of Pennsylvania with a business degree, he gained business experience at a consulting firm. At the same time, he tried various side hustles including freelance writing, blogging, and eCommerce. He managed to turn his side hustles into a full-time business, earning over $3 million. Now, he enjoys financial freedom and travels around the world as a digital nomad.