How To Make Big Money As A Public Speaker S1E53

Summary

Dan Locke shares his insights on making big money as a public speaker, emphasizing the importance of platform closing—a skill that involves selling high-ticket offers directly from the stage. While traditional speakers earn through fees, Dan suggests that speaking for free and focusing on sales can be far more profitable. He highlights the need for persistence, practice, and mentorship to master platform closing and turn speaking engagements into significant revenue streams. Ultimately, the goal is to get paid to speak while also selling your services, creating a win-win scenario for speakers.

Takeaways

• 😀 Public speaking can be a lucrative career, but there are two main ways to make big money: speaking for a fee or speaking for free to sell high-ticket offers.
• 😀 Speaking for a fee involves being hired by a company or organization to deliver a keynote speech, with payment varying depending on your reputation and celebrity status.
• 😀 For newcomers, speaking for free is an effective way to get started. This involves speaking at events and offering high-ticket products or services during the speech.
• 😀 High-ticket platform closing is a powerful skill that allows speakers to generate significant revenue by selling their offers directly to the audience after their talk.
• 😀 By mastering platform closing, speakers can earn much more than the standard speaking fee, potentially generating six or seven figures from a single speaking engagement.
• 😀 The process of platform closing involves offering high-ticket programs during a speech and splitting the revenue with the event promoter, often 50/50.
• 😀 Learning how to close from the platform takes practice, especially for new speakers who may initially struggle to convert audience interest into actual sales.
• 😀 Dan Locke shares his personal journey of struggling with platform closing at first, but eventually mastering the skill through repeated practice and mentorship.
• 😀 One of the biggest challenges with platform closing today is the lack of live audience feedback, which helps speakers refine their techniques and learn what works.
• 😀 Platform closing is a valuable skill for any consultant, coach, or expert because it allows you to leverage speaking engagements to build your client base and generate more sales.
• 😀 Ultimately, the goal is to reach a position where you are paid for speaking engagements and still have the opportunity to sell your products and services directly from the stage.

Q & A

What are the two main ways to make money as a public speaker according to Dan Locke?

According to Dan Locke, the two main ways to make money as a public speaker are speaking for a fee and speaking for free. Speaking for a fee involves getting paid by a company or organization for delivering a keynote speech, while speaking for free involves offering a high-ticket product or service at the end of the talk and earning revenue through platform closing.

What is 'platform closing' and why is it important?

'Platform closing' is the art of closing sales directly from the stage, either in front of a live audience or through virtual means. Dan Locke believes it is one of the most valuable skills for public speakers because it allows speakers to generate significant income by selling high-ticket offers, sometimes even exceeding what they would earn from just a speaking fee.

Why did Dan Locke initially speak for free instead of charging a fee?

Dan Locke initially spoke for free because he was a newcomer to the speaking industry with no reputation or platform. He wasn’t in a position to charge a fee, so instead, he focused on offering high-ticket products at the end of his talks and earning revenue from those sales, rather than from speaking fees.

How can speaking for free be more lucrative than speaking for a fee?

Speaking for free can be more lucrative than speaking for a fee if the speaker is skilled at platform closing. By offering high-ticket products and services during a talk, a speaker can earn substantial revenue, sometimes even more than they would from a speaking fee. For example, a $10,000 offer with a 50% conversion rate can generate $50,000 in a single engagement.

What is the role of the event organizer when a speaker speaks for free?

The event organizer plays a crucial role in organizing the event, marketing it, and bringing an audience to the speaker’s presentation. In return, the organizer typically takes a percentage of the sales generated from the speaker's platform closing. A common split is 50/50, where the organizer receives half of the revenue and the speaker keeps the other half.

What does Dan Locke mean when he says platform closing is a 'lost art'?

Dan Locke describes platform closing as a 'lost art' because, with the rise of online events and webinars, many speakers no longer get the immediate feedback or opportunities to practice closing sales in front of a live, in-person audience. As a result, speakers may not develop the necessary skills to convert their talks into actual sales.

Why is it harder to close sales from the platform now compared to the past?

Closing sales from the platform has become harder because event organizers now prioritize proven speakers who can generate revenue for the event. Additionally, online events and webinars have become more common, where speakers don't receive real-time audience feedback and may struggle to hone their platform closing skills.

What was Dan Locke's experience when he first tried platform closing?

When Dan Locke first tried platform closing, he struggled. He was a bonus speaker at an event, speaking at 5 PM when many people were leaving. As a result, he had difficulty holding the audience's attention and didn’t close any sales. However, thanks to his mentor, he had the opportunity to practice repeatedly and eventually mastered the skill of platform closing.

What does Dan Locke recommend for new speakers who want to learn platform closing?

Dan Locke recommends that new speakers focus on developing their platform closing skills early on. Even if they start by speaking for free, they should work to master the art of closing from the stage. This skill will be valuable throughout their career, whether they are coaches, consultants, or experts in any field.

How does mastering platform closing affect a speaker's career and income?

Mastering platform closing can significantly boost a speaker’s career and income. It allows them to generate high levels of revenue directly from speaking engagements, sometimes earning six or even seven figures from a single event. This skill provides long-term leverage and growth opportunities for the speaker’s coaching, consulting, and expert services.