Mike breaks down speaking fees into five tiers, from pay-to-speak gigs to $20,000-$50,000 for recognized authorities. A subject-matter expert with no fame gets up to $7,000; a recognized authority with strong credentials earns $7,000-$20,000. The top tier demands a defining story, like Captain Sully's Hudson landing, or a book that draws audiences.
I think today the lowest level of speaking, if you will, is where you pay to speak. I go to an event and say, oh, you have 1,000 people in the audience. I want to get in front of 1,000 people. I'll give you money so I can get in front of them. It's a pitch. It's a sale. When I say the lowest level, meaning I'm not saying that's necessarily a bad speaker. I would argue that's not their profession. It's not a performance for them. It's a sales pitch, but they're paying to get on stage. The next level is where you are speaking for exposure. Often you get very little or nothing. Maybe your travel compensated. That's about it. But you're hoping just to get some traction, some videotape and so forth. Be leery of Many events will say, hey, we want you to speak at our event. We're not gonna pay anything, but imagine all the exposure you're gonna get. There's very little benefit unless you have something to sell from stage of getting that type of exposure. But you can build a speaking reel and get some speaking practice and experience. So I think it's worth it for that. Our own event, ProfitCon, we tell people, we want you to speak here. We don't pay anything. So if you wanna build a reel and get tape, we're gonna give that to you. We get some very high-quality speakers because they're doing me a favor. They're like, Mike, I'll speak at your event, but you gotta speak at mine. So we'll do a quid pro quo. The next kind of level is up to about $7,000. What I found is an event will pay up to 7 for a speaker when it is a subject that they're interested in. The speaker has knowledge on the subject but isn't necessarily an authority. So we wanna learn about how to read income statements. You can bring in someone that has expertise in accounting and so forth to translate this, and they're willing to pay for someone with those expertise. The next level is 7 to just under 20, and that is where you are a category authority but not a celebrity necessarily. So like, oh, you're one of the leading experts. Maybe you have high-end credentials. Oh, this is someone that went to this elite school for interesting degree and they can translate financial statements and so forth. So now you bring a degree of authority, which positions the event to be a little bit stronger and, and can be an attraction point. The next level, I'd say $20,000 to $50,000. Now you are the category authority. You have extraordinary credential and you are likely to draw a degree of audience. That's the range I'm in. I'm at the higher range now asking and getting $50,000 because I have Profit First under my belt. The day before Captain Sully landed that plane on Hudson, if he was asked to keynote, he'd probably get $7,000. He was a pilot and a darn good pilot, but he was a pilot. If someone wants to talk about safety, what to do in safety circumstances, he could have got maybe $7,000 to speak. The day he landed that plane on the Hudson, he got $50,000 to speak or more because now he has such an extraordinary story. So you don't have to have necessarily a category-defining book. That's a great way. You can have a category-defining story, something like that. Or you could be maybe someone that is a celebrity on Instagram or something like that where you're the category authority.
