TJ Walker explains how Oprah commands $400,000 for a one-hour speech: financial independence. When you have no debts and multiple income streams, you can negotiate from strength. Even $5,000 in savings with bills paid gives you leverage.
As much as $400,000.
A net worth of $5,000.
He said it's eight times what the average family of four in America makes in a year.
Oprah Winfrey charges as much as $400,000 for a one hour speech. That's eight times what the average family of four in America makes in a year. Now she can do that in part because she's Oprah and famous. But let's dig a little deeper. What is she doing that can relate to you and me? She's able to charge $400,000 for a speech because she doesn't need the money. She's got all of her debts paid for. She has multiple streams of revenue, tv, radio, podcast, books, magazines. She doesn't need any one speaking deal. That's what gives her pricing power. The best negotiating power is to say, here's my price. I don't really need you. Take it or leave it. You don't have to be a billionaire to do that. You could have a net worth of $5,000. If all of your bills are paid and you have no debt, you have ultimate negotiation power.
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