Mike DomitrzPresident, Author, and Speaker on Respect, The Center for Respect, Inc. · Author & Speaker on Respect for Schools, Corporations, & the Military since 1990 (has reached

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4 Mar 2025 · 1 min

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In this segment, Mike Domitrz warns that many professional speakers claim high earnings yet struggle financially because their expenses match or exceed their income. He emphasizes the need for disciplined financial planning: allocating funds to marketing, accounting, travel, and digital presence (social media, internet). If a speaker’s fees don’t cover these costs, they must decide whether to cut expenses or raise fees. Ultimately, the market will dictate the appropriate price point, so speakers should assess whether they are undercharging relative to the value they provide.

Chapters

There's so many speakers who will tell you how much money they're making and they're broke because they're spending more money than they're making, or they're really close to spending equally amount. So you have to be smart, right? You have to invest in yourself to keep that business running for a long period of time. So you've got to allocate. How much do I have to put towards marketing? How much do I have for accounting? How much do I have for travel? How much do I have for all these different— the internet now, social media, All these different facets. And then if I have all that, well, my fee doesn't cover that. Well, then what do I have to cut? Or is it possible that I'm too low of a fee and I'm worth more? And here's who's going to tell you that— the market.