Seminar Business Pros and Cons
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As you can probably tell, I LOVE the seminar business. It happens to fit all of my requirements in terms of the type of job that I like. Here’s a list of the pros and cons about the seminar business.
It’s your own business
Unless you choose to do seminar work for another company or individual, it’s your business. You control it, you do what you want, you run it your way. For someone like me who doesn’t particularly like others telling me what to do, this is a necessity of any business in which I’d get involved having.
You can make lots of money
With the right topic that’s run correctly, the seminar business can be very lucrative. Many successful seminar promoters make millions of dollars a year. Others make a very good, high six figure income. If you’re good, you won’t have to worry about making big money.
You’re always learning new things
If you’re doing your homework in your field, you’ll always be learning new stuff. If you aren’t a continual learner, your seminar content will suffer.
You get to travel if you want
If you like to travel, you can rack up plenty of frequent flier miles. You can only give so many seminars in your own “home” market without reaching saturation. That means that you’ll have to take your show on the road.
I have logged over 2,000,000 miles with American Airlines since I started doing seminars. I now try and do a lot of seminars in Las Vegas and have people come to me instead. It’s a lot easier on my body not to have to travel continually.
You gain a lot of prestige
Like being an author, being a seminar leader will give you a lot of prestige. People look at seminar leaders like minor celebrities. If you’re a Tony Robbins or someone else who does infomercials you will be perceived as a demi-god by many adoring fans. If you like this adoration and praise, the seminar business will give it to you.
You meet interesting people
I have met some fascinating people in my travels through the seminar business. If you like people and are open to meeting them you’ll meet plenty. Many will be intensely interesting. This is one ancillary benefit that really appeals to me.
You position yourself as the expert in your topic
Other than writing books, giving seminars is the ultimate way to position yourself as the expert in your field. You’ll be very visible. Many people will see you. Potential clients will seek you out. You’ll get press coverage. You’ll be acknowledged as one of THE experts in your field.
You generate a lot of consulting work
My consulting model which I discuss in my book “Consulting Secrets to Triple Your Income” revolves around the concept of trading people up your funnel. Seminars are one very important element in your funnel system.
You get to be a ham
If you love getting up in front of people and having your own stage on which to perform, this is the business for you.
People to pay to be your prospects
If you charge for your seminars many people will show up, pay you money, buy your products and then turn around and hire you as a consultant. What a country! What a business. Consultants who spend their time running after potential clients are nuts. This is a much easier way.
You can record your seminars and get paid for them even when you’re not doing them
You can make money by recording your seminars and then selling people the audio or video version of the event. What can be better? You do it once and then you get paid over and over.
Travel gets tiring
Like I said earlier, I have done a LOT of travel. Frankly, I’m now sick of it. Travel can and does take a toll on your body. I would now to prefer to do all of my work in my home city. I would then only travel for vacations. Unfortunately, this is tough to do if you’re in the seminar business.
It can be an up and down business
If you’re looking for a business that provides you with security, this isn’t it. Money comes in very erratically. Some days you’re swimming in it and other days there’s nothing!
For this reason, it’s imperative you do two things. First, develop products to smooth our your revenue curve. Secondly, put your money away when it’s coming in.
It’s energy draining: it’s tough to do all the other stuff
If you do a seminar all day, you’ll be dead tired by 8 o’clock. Don’t think you can do this and something else the same day.
It can be very stressful
This is an understatement! There can be a lot of stress associated with this business. People not registering quickly, preparing all of the logistics, etc., etc.
To me, the pros vastly outweigh the cons. But, that’s how I feel. You need to review the above items and make the choice for yourself. Most people who get into the seminar business find they love it!
For more information about doing your own seminars, go to Seminar Marketing Expert Site.
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