THE SECRET TO FINANCIAL SUCCESS IN THE PUBLIC SPEAKING INDUSTRY
For People Who Don’t What To Spend The Next 10 Years Trying To Figure It Out
Have you ever wondered: WHY ARE SOME GOOD SPEAKERS REALLY BROKE?
⁉ The public speaking (and corporate training) industry in Nigeria is NOT as it seems A LUCRATIVE BUSINESS? Of course ‘lucrative’ has become a sort of relative term but you know what I’m saying… “Only about 3-5% of public speakers in Nigeria make enough money FROM SPEAKING to POSSIBLY live and have a family in Nigeria today.”
Hey… Let me burst your bubbles ⚡💥
Judging from some of the economic and political indicators which I’ve personally observed so far, the SPEAKING (and training) industry in Nigeria is possibly going to suffer (in terms of being a sustainable career path) instead of experiencing the roughly 11% growth expected globally by 2020 (See report here)
Dr. Miki, what the heck are you talking about?
I’m glad you asked 🤗
Let’s grill, shall we?
Let me lay some vital foundation to how the speaking and training industry generally REALLY makes GOOD MONEY (geez who is comfortable with making coins from almost the same thing others are making millions from?)
- The speaking and training industry makes more money from gigs with companies and business organizations than they do with individuals. As a matter of fact, apart from getting paid in big bucks by big corporations (because they can afford it) being invited to speak or train by corporations is one sure way to skyrocket your brand and profitability as many people in the audience will end up enrolling into your high-end programs and buying your materials after experiencing you, assuming you know your onions.
- The speaking and training industry’s success to a large extent (not in all extent) depends on the economic situation of the people. If businesses are generating revenue, people are getting jobs and making a few hundreds of thousands — they will be able to take care of their basic needs and then START THINKING ABOUT THEIR OTHER NEEDS (like personal success, career development, excellence, transition, etc) So if people are not making just enough to take care of themselves, they make their ‘other needs’ (AKA Self-Actualization needs) secondary and find it difficult to take them as seriously as they should.
So if you’re still wondering why many Nigerians jump at free things… It’s not just a problem with the way we think– it’s a thinking pattern caused by the ‘feeling’ that we don’t have enough to throw around. And if you want the average Nigerian to give his money to you, you simply make him a promise of monetary (not some intangible) gain in return. That’s why many would pay for school, because school once promised job and employment.
Guess what else promised monetary benefits in return for monetary investment?
MMM… (Mavorodi… 😆)
And some fire brand prosperity preachers.
“Give guaarrd 10k today, you’ll get a 100k tomorrow” 😂😂😂
Many Nigerians will buy into the deal immediately.
Secondly, you’ll also notice that the speaking (I also think service based businesses in general) thrive in only 3 places in Nigeria — Lagos (the father of them all), Abuja (only for the Sharks who have proven themselves perhaps in Lagos) and Port Harcourt (not sure why exactly we always include this one… ‘Cos of oil companies? How much do they invest in training using local trainers? I’m not sure. Someone please help my ignorance… with facts though)
Trainers like myself who are based in the South East are simply ‘rehearsing’ 😂 (Luckily for me, my rehearsal is at pro level ‘good’ but what can you do with ‘good’? Mchwwwww)
How I am able to build a public speaking school, work as a full time speaker and trainer and still maintain my sanity in the East without running mad is one of the reasons I am writing this report. I hope to help a couple of speakers figure out THE NEW APPROACH TO THE BUSINESS OF SPEAKING especially now that we are at a very huge disadvantage.
- TECHNOLOGY has changed everything we know about doing business and has created more opportunities than we can possibly exhaust. This is one of the keys to success in the speaking or training industry.
Here are some shocking 😳😳 facts to my claim that the training and speaking industry in Nigeria is suffering… Instead of growing profitably.
❗As at December 2016 over 500 companies in Nigeria were adversely affected by recession. This is not my opinion, as a matter of fact, this stat came from Dr. Vincent Nwane of the Chamber of Commerce and Industry, Lagos. Read the news here.
Due to the economic situation of the country, companies began to lose too much money that many of them had to leave the country. The remaining ones started cutting cost… By laying off workers AND by cutting down on training budget (some even eliminated training budget completely).
❗According to National Bureau of Statistics, between January 2016 to September 30, 2017, a total number of 7.956 million Nigerians became UNEMPLOYED. Read news here.
What that means is that many people in the country could no longer go to work, make money and pay for your seminars, training and stuffs like that. These UNEMPLOYED people would largely depend on freebies or handouts to be able to access some of our classified materials or training.
But Dr. Miki, John Obidi gathers tens of people who pay like 35k for his training… 😁😁
And Victor Ekpo says he charges like 1.2 million for his premium coaching 😁😁😁
Fela Durotoye (allegedly) charges 1.5 million to speak for an hour… 😳😳
Emmanuel Johnson also says he collects hundreds of thousand to speak in conferences… 😟😟
So what the &$@? Are you saying man?
Not like I’m impressed by these figures (when I compare them to our counterparts in other parts of the world) but of course, some Nigerian public speakers (myself and others included) have learned to beat the odds and make money through public speaking and training.
There are three points I want to drill into your head:
- Only a very few speakers are making enough money through speaking…
2. These few understand and know something about navigating the marketplace that many others don’t know and seem not to care…
3. I may be able to simplify the ideas and systems behind building a profitable speaking business in Nigeria… But first I must make you understand a few cogent foundational truths–
✅ If you’re more interested in the ART of speaking and not worried about the BUSINESS of speaking — what’s the problem with you? Really? (Okay, no hard feelings! 😎 maybe you’re just a serial philanthropist)
✅ YOU CANNOT SURVIVE NOR THRIVE IN THE SPEAKING INDUSTRY WITHOUT UNDERSTANDING THE INDUSTRY ITSELF — how it works, what does not work, what works and how to make it work despite the challenges (that is what I’ll be talking about in Lagos in June) The earlier you start thinking and working towards this, the better for you. Find out about Lagos event here.
✅ If you’re hoping to learn from foreigners (Brian Tracy, Tony Robbins, etc) about building successful speaking business or brand in Nigeria– you’re getting so fast ahead of yourself that you will likely miss it. Learning from Nigerians who have done it may be your only way out.
✅ TECHNOLOGY may be your fastest and only way out in terms of creating a successful and profitable speaking business in Nigeria today. But what technologies are we taking about? How could they be used effectively and how do you get started with implementing them today? Issues for another day.
I really hope this makes even if it’s just a little sense to you. Please leave a comment to let me know what you feel or think about what I just reported.
P.S: If you would like to become a High Profile Speaker in your niche, Click Here Now to join my Facebook community called the High Profile Speakers Circle.