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How To Make 7 Figures In The Speaking And Training Industry

Putting it in perspective

The first thing that comes to mind when we talk about the speaking and training industry is to think about the huge annual seminars, conferences, and conventions usually conducted by industry associations, societies and professional bodies. Added to this are the corporate training by elite universities, polytechnics, colleges, giant consulting firms, and the like. Not far left behind are the global motivational speaking giants and celebrity speakers such as Tony Robbins, Brendon Burchard, Darren Hardy, Jack Canfield, Victor Mark Hansen, Les Brown, Brian Tracy and hundreds and hundreds of other giants. Then you have super-celebrity business moguls such as Donald Trump and Richard Branson that get paid up to $100,000 per appearance. These business moguls are in a class of their own. Some books have spawned global movements such as Chicken Soup for the Soul by Jack Canfield and Mark Victor Hansen, Rich Dad Poor Dad by Robert Kiyosaki, and Guerilla Marketing by Conrad Levinson, to mention a few. So it’s a huge market out there.

How big is the industry?

Training Industry.com estimated the global market for training expenditures in 2011 was about $287bn. They expected the market to grow to about $292bn by 2012. Market Data Enterprise estimated the Motivational ”Self-Improvement” market to be about $10.4bn. In my opinion these are extremely under-reported figures as they may reflect at best market of OECD countries. Putting all countries in the picture may result in figures three times bigger, so it’s a huge industry, that clearly overlaps with other industries such as ICT, and education, where formal education, certification and the like take place.

Who are the key players?

The key players as we mentioned at the beginning include corporate training arms of almost all universities, with elites such as Harvard, Wharton, Stanford, Columbia, and MIT taking global lead. Then you have global leadership institutes such as INSEAD in France, IMD in Switzerland, and Cranfield in England. Then you have global consulting giants such as McKinsey, Accenture, PWC, KPMG, that don’t only consult and audit, but also train their clients in best practices. In the speaking segment the global leaders are Toastmasters International, National Speakers Association (NSA), and International Federation of Professional Speakers.

How can you belong?

A whole book can be written about how you can become a trainer or speaker. The best place to start is to visit your local library or neighborhood bookshop and look up books on the training and speaking sections. To help you jumpstart, the best place to begin is to decide which niche you wish to serve. While you may play in different niches, the biggest earners are niche players who have developed expertise in their niches to the point of becoming celebrities. To become a trainer, the best place to start is to become an expert or at least, a knowledgeable professional in the area you wish to train on, for example, sales, leadership, and communication. To really gun for the seven figures, seek out the experts, submit to their mentorship and coaching, then join their networks. The best mentors will open up their networks for you.

What can you sell as a trainer and/ or speaker?

The training and speaking industries have overlapped so much so that sometimes it is difficult to say these days where one ends and where the other begins. For all intents and purposes, the two industries are tending in one direction and are coalescing into one huge information industry. For the purposes of this article, however, we will keep the two industries separate, at least for now. To be a trainer, the most lucrative segment to focus on is corporate training. Most quoted companies dedicate huge sums to their annual training budgets, sometimes as high as 10% of their profit before tax, so there is huge money to be made there. As I said earlier, the more focused you are, the better. In the speaking or motivational segment or niche, while you also sell expertise as a trainer, unlike the corporate trainer, you’ll be selling directly to individuals most of the time. So to really succeed in the speaking industry, you need to develop your unique spin of what you want to sell to your target audience. As the saying goes, there is nothing new under the sun. If you look back far into how the industry developed from the days of Napoleon Hill, W. Clement Stone, Earl Nightingale, Jim Rohn, Bryan Tracy to modern day icons such as Tony Robbins, Darren Hardy, Marcia Weider, and Brendon Burchard, the one thing that sets the most successful speakers apart was and remains the ability to develop a unique style that gets you on the radar.

How to make 7 figures

Thanks to technology and the proliferation of media, the training and speaking industries are merging into one huge industry that people now refer to as information marketing industry. When you are selling corporate training, what exactly are you selling? If you look at it closely, you are selling information and ideas. Maybe, how to carry out certain tasks better, how to hone a particular skill, or how to direct a change in attitude or behavior in a more desirable direction. The same applies to the motivational speaking. The outcome you desire is the same, you are conveying ideas and information that your audience can use to better their lives in various areas, such as health, wealth, self confidence, time management and other dimensions. While in the past, an average speaker if he or she was lucky could get ten or twenty people into a hall to listen to what he or she had to say, today you have a global audience, thanks to the internet. So the first step towards your 7-figure earning is to leverage the power of the internet and the associated technologies to your advantage. According to Janet Switzer, there are more than 50 information products you can market. Assuming you have 20 products, and you are able to sell to just 10,000 monthly at the rate of just $20 per person, you can make about $4,000,000 per month. Not bad for a start, but it will not happen overnight. You have to keep at it, and be willing to pay the price. I know celebrities that are making more than that figure per month, so jump in, the water is warmer than you think.

Education and Careers: The Paths We Choose

We all know that education prices are skyrocketing, and the return on investment (ROI) is not so clear. Degrees, they say, used to guarantee a job, and now jobs that used to only require a bachelor’s degree require a master’s, and so on. This means that the ROI has decreased, and that higher education is undergoing inflation. Technological changes, moreover, are eliminating midlevel service jobs.

According to a May 2011 report by the Center on Education and the Workforce at Georgetown University, full-time workers with a bachelor’s degree earn, on average, 84 percent more over their lifetime than those with only a high school diploma. If workers, then, with a bachelor’s degree are now filling jobs that those with only a high school diploma used to have, then living conditions and salaries for them are poor, and salaries for those without a degree are unlivable. In this situation, it is necessary to earn a higher degree, and yet, hard if not impossible to receive a decent ROI for the time and money spent.

In comes online education. Online higher degrees are becoming more credible and more common. And as if on a linear train of thought – in comes free online education, offered from top universities around the country (MOOCs). Moreover, the career opportunities that only a degree-in-hand allow are merging with online ed options: just a few weeks ago Georgia Tech announced that it was merging with Udacity to provide a reasonably-priced computer science program. In the totally unbalanced situation of higher than reasonable brick-and-mortar degree prices versus free online education, hybrid models are emerging as one way of answering to the issue for positive ROI outcomes.

ROI: What Does It Really Mean? OR Is Money What It’s All About?

According to government projections, by 2020, only three of the thirty fields with the largest projected job openings will require a bachelor’s degree or higher to fill the position: teachers, college professors, and accountants. Most of the available positions will be midlevel jobs not easily replaced by technology such as retail sales associates, fast food workers and truck drivers.

College graduates who majored in zoology, anthropology, philosophy, art history and humanities are now among the least likely to find jobs appropriate to their education level, while nursing, teaching, accounting, and computer science graduates are the most likely. Graduates with degrees in marketing, finance, human resources, and advertising are seeing an increase in career opportunities and therefore ROI.

‘While engineering and computer science consistently rate among the top-paying college majors, students should also research employment demand and hot skillsets,’ Andrea Porter, communications director at Georgetown’s CEW, said to USNews for a piece called ‘College Majors With the Best Return on Investment.’ “Research what skills are most valuable in the labor market… and depending on those ‘hot skills’ you can also obtain a certificate that will provide you skills that will set you apart,” she added.

Katie Bardaro, a lead economist at PayScale (an online salary database), contributed to the piece by stating that engineering, physics, computer science, and mathematics boast strong earning potential and low unemployment rates, which can help prospective employees reap the highest return on their education investment.

Many are concerned, because where there are jobs there isn’t enough talent and where there is talent, jobs are limited. And since ROI is usually only calculated by the maximum money one receives for their time spent in college, top-paying careers which are in-demand are listed as the top careers.

If you are cut out for the analytical work, these advisers say, then do it! For the money.

But what about for those who don’t necessary need the maximum paying career – those who see what they want to contribute and what they themselves are talented in as important first, and then wish to identify how to make a living? Is money the most important thing to all of us? When did economical ROI become the most important aspect of continuing one’s education? And the answer of course, is always for some, and for other’s: when this became a concern.

No, money is not the most important factor for all of us. “Teachers aren’t in it for the money,” for example, is a common expression of the profession. But money can help us get places. Money is necessary to survive. A decent paycheck, good working conditions, and fulfilling our dreams is the ideal for many of us.

If money was the only thing that mattered, then perhaps we would all heed the advice of the higher education advisers who say – enter computer science now! Perhaps it is not that we do not have the ability, talent or work ethic, but simply, that our interests lead us somewhere else. Some of us have our own visions to follow. What then?

Fulfilling Our Highest Visions

We have an economy that is based on creating revenue by selling things we don’t need cheap and making a profit vs. filling real world needs for humanity’s benefit. We are conditioned to want more money and certain things – often brands. There is too much competition in fields we don’t really need, and too many shady businesses and practices that take advantage of people. Imagine if we focused on the best and putting capable people into jobs that actually serve people, imagine if money didn’t matter the way it does for people and businesses of today. But it does because money is the most powerful thing in our world. Even knowledge doesn’t come close to the power money allows a person to yield.

Technology should make things easier on all of us, not take away a limited amount of jobs and further the economic gap between the wealthy and the poor, making only the hardest jobs that cannot easily be filled by technology what’s available to uneducated people. All people should be well-educated. All people have potential. Meaningless jobs should be filled by computers, and people should be encouraged and able pursue their dreams. Make the world a better place. Make themselves better. Make others better. And help the community.

Perhaps I am too partial to romanticizing education. I truly believe that it is one of the most powerful forces in the world; that knowledge, not money, should be the most powerful. However, true education, education of this magnitude, is not, I believe, about pushing out “job-ready” graduates with “hot skills” at the right time or moment to enter a certain market. I believe the true graduates are the ones who leave college having faced themselves, and the world around them, and are ready to enter it; that specific skills are as important as life-skills, self-confidence, and general intelligence. That these hot skills don’t in fact add up if graduates are looking at the job market to pick a career, rather than finding their career based on their innate talents and desired life, whether this means that they work in advertising, as a teacher, professor, fisherman, farmer, agriculturist, or politician. We must find our own path and therefore happiness instead of the world demanding, stealing, insisting it away from us.

So while education is a good and now an almost necessary cost in the vision of this country and our place in it, and while many things influence our futures in a numerical and calculated way – our parent’s education, our education, society’s demands, and media influences – we must insist on making our own dreams and happinesses real. ROI is not only about money gains, although it is often discussed in this matter. You are not a determined by the money you make.

Of course, we must have some kind of practical plan. We have to make it work. And following our happiness, indeed can take a lot of work. And many make their visions work by combining them with one of the strong in-demand fields such as in science, technology, education or business. If we love the outcome, then the work in the end means something. This, in my opinion, is what matters.

Elearning – Revolutionizing Education and Generating IT Jobs

The online learning industry has been making waves after studies that most students that are taking online courses performed better than those studying in the traditional schools spread like wild fire. Elearning, a new teaching method utilizing the power the Internet also known as a TEL or Technology Enhanced Learning, has raised the interest of education industry because of its innovative teaching system. This technology-integrated educational system offers various education courses offered by most colleges and universities. Corporate companies also use this innovation in education to improve the performance of their existing working staff, or to train the company’s incoming employees.

Online learning systems vary depending on its purpose. In corporate companies, they use this in conducting training seminars for the work staff. These training seminars are conducted in a shorter time span, usually completed in a single instructor-led online session. In colleges and universities, it provides an assortment of simulated courses for students, these courses often last for several weeks.

This system has revolutionized the education industry. Schools and training institutions are beginning to embrace this modern way of education. As early as 2006, there were already roughly 3.5 million students participating in online educational institutions of higher education in the U.S. According to the report by the Ambient Insight Research, it is estimated that by 2014, 81 percent of the post secondary students in the USA will be taking some or all of their courses online.

Aside from providing a new platform for learning, this system has greatly helped the global economy through providing job opportunities for IT related students and professionals. For an online teaching platform to work, professional IT individuals, such as Elearning authors or those who provide content for this TEL. The largest learning management system on the Internet is already being used by around 30 million users from over 44,000 sites globally. Consequently, there has been a huge demand for management specialists and trainers. Programming has also prospered because many cutting-edge hi-tech businesses are now into developing instruction management solutions and software and other applications. It has also generated a heaping number of career opportunities for graphic designers, writers, materials developer, and researchers. Knowledge Process Outsourcing or KPO has benefited from the professional and service demands of this innovative Internet-based instruction.

The high demand for higher education, gave way to the birth of many business solution companies, online learning, and other business incorporated solutions companies. In Asia, the online content providing industry bloomed, as many US and western countries require outsourcing service for web developing and content provision. This gave way for the huge number of IT students and graduates in the region to have job opportunities where they can learn more about business solutions and earn income in the same way. As the industry grow and more corporate companies and Universities integrate this into their teaching delivery methods to cater more to the needs of students and trainees, it gives more jobs to those working in the IT sectors of the business arena. Elearning transformed the education system by opening a new teaching method set in cyberspace and at the same time provide work opportunities for many tech savvy individuals.