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Thread: Public Speaking Business Idea - Potential Costs & Income?

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    Public Speaking Business Idea - Potential Costs & Income?

    Hi Everyone!

    I have a new business idea and I'd like to know what the operating costs might be and the potential income I might receive in the first year or so.

    I am a male working in an engineering industry. I don't earn a lot of money compared to most people my age. I like my job but I don't love it and I don't like the salary I am earning. My job is stressful and the work load is huge. I want to be out of this industry 5 years from now. I'm a hard worker, I work so hard that I haven't taken annual leave so far this year.

    I've spotted a small gap in the market and I feel I can close it. It basically involves me speaking in front of people and giving advice. There are already a few people doing workshops and giving talks to employees of businesses. I've briefly researched a few individuals off the internet and they are good at what they are doing. I can offer the public what those speakers are offering but I can offer something a bit different.

    Let's assume I quite my job and I have enough money to last me 6 month's worth of my expenses, i.e. I can support myself for 6 months without an income. The way I see this business operating is as follows:

    Marketing
    - Make phone calls to businesses to advertise my services to them.
    - Advertise at local newspapers.
    - Have an IT company host a website for me.
    - etc

    Personnel
    - For the first year or so I can work alone. I can do all the bookings myself. Answer phone calls and respond to emails myself.
    - Work from my flat (if that's allowed) on a complex. I live in Pretoria so I'll be close to a lot of clients.

    Operations
    - Receive phone calls or emails from clients. Make arrangements to perform at their venue.
    - Request 50% deposit before going to their venue to do the speech.
    - Travel to the venue (in my paid up car) with a projector, laptop and a 'white sheet thing' whereby one projects a presentation to.
    - Perform the speech.
    - Receive the rest of the money from them, and then that would be it.

    Charges
    Professional motivational speakers can charge as high as R35 000 per performance. The ones I have researched charge about R15 000 per performance. Because I am new to this industry, I can charge maybe R5000 when starting out. Let's assume I do 10 speaking engagements per month, this means I can make a R50 000 revenue per month. Since I will be the only employee, what costs am I looking at? How much might I pay for tax? What might I pay for a website hosting company? What might my personal income be?

    If I get very busy and let's assume I become very good at my work and start charging R10 000 per speaking session and make R100 000 a month revenue. What might operating costs be if I hire a personal assistant? What might the cost per month be if I rent an office for myself and my PA? What might the costs be for electricity, water, internet connection, telephone bills, etc? What personal income might I receive?

    I know there are a lot of unknown factors and I am asking too much from you guys. I just want to get an estimate of how much I might get if I decide to go this route.

    Thanks!

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    Site Caretaker Dave A's Avatar
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    The actual business overheads can be negligible. It's probably your living expenses that you need to pay attention to when it comes to the outgoings.

    What is going to make or break you is your ability to generate an income. And at this point I haven't got a clue what your potential might be because you haven't put any useful information in your member profile here.

    The Professional Speakers Association of Southern Africa has a useful page on First steps to becoming a public speaker, and number one is a story to tell.

    So what is your story?
    And how are you marketing it? (You're already missing one free opportunity )
    How many paid and free gigs have you done this year?
    How many articles have you published?
    How have you networked your name out there?
    What are you going to talk about?
    Why should anyone listen to you?
    Is anybody talking about you?

    You've been a member of TFSA since September 2011, and yet right now, sitting on this side of my pc, all I see is the invisible man.
    Last edited by Dave A; 28-Jul-13 at 10:07 AM.
    The trouble with opportunity is it normally comes dressed up as work.

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    Sly21C....

    Drop me a PM. My company is willing to host your website free of charge. ( T & C's apply ).

    T & C's are just there to make sure the bandwidth / domain doesn't get abused.

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    Platinum Member pmbguy's Avatar
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    huh?
    It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. – Charles Darwin

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    Thanks Dave for your comment. You are absolutely right, it will largely depend on my living expenses and my ability to generate an income.

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    Diamond Member Blurock's Avatar
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    You've been a member of TFSA since September 2011, and yet right now, sitting on this side of my pc, all I see is the invisible man.
    As Dave mentioned, make yourself visible. If you want to become a public speaker or offer personal services, then YOU are the business, the brand and the energy. People look at you and your profile and then decide whether to hire you or not.

    I am not a fan of facebook, but for personal services you may need to create a following. Some public speakers use jokes and antics to get noticed. Their newsletters are fun to read, but with a specific message. Also use Linkedin, as people can endorse you for your skills.

    I believe the public motivational speakers market is over saturated, but the best of the best make enough money to keep at it. A number of them just repeat what others did or said, so it is important to keep the message fresh and interesting to get ahead.
    Excellence is not a skill; its an attitude...

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    Site Caretaker Dave A's Avatar
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    Facebook, LinkedIn and Twitter if you're a public speaker, I reckon.
    The trouble with opportunity is it normally comes dressed up as work.

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    Platinum Member pmbguy's Avatar
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    A stupid simple rule I have is to listen the cowboy with rope burn. If you want bad advice ask the man who has pessimistically failed. But optimistically made excuses mind you.

    I mean this with an honest heart: You might find an audience if you were lank optimistic and lank lank successfulll. Think about it.
    You gotta sell, remember
    It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. – Charles Darwin

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    Starting a new business takes lots of research, more time. Quiting a job and starting a new business is not a good idea. You can start part business right now and after at level where you are earning good amount, you can afford to quite a job.

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    Good idea start a business... but not the way you are talking.. Business is not that much easy, as you are predicting.. It also be stresfull sometime. Doing a business need more than 12 hours in starting period but still its not surety to start learning from the first month. You need keep patient, if you are startng any business.. Quiting a job ans starting a business dont seems to be a good idea according to me... Start something you own, you love.. Once, your business get you good amount then you can think to quite your job..

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