Do not limit your opportunities to make money. You have a lot of them. Here are nine of the most lucrative ones.
1. Public appearances
A motivational speaker can earn even when he does not talk. Public appearance can mean many things. It can be a free public talk, a guest appearance on a literal sense (like on TV), or book signing.
2. Ticket sales
When you have events, you have tickets. Although many speakers waive the admission fee for special occasions, it is undeniable that tickets contribute a major part of their income. You can earn more if you are your own producer. If not, you can still ask for a deal that says you will not take any talent fee, but a certain percentage of the ticket price should go to you.
3. Book royalties
Many motivational speakers are also book authors. You probably recognize Stephen Covey, ZigZiglar, Robert Kiyosaki, and John Maxwell for their books. However, they are also some of the most famous speakers in the business.
The audience would always want to have the motivation they get from you anytime they want.
They want to take home your words and relive them all over and over again to absorb the core messages. Books give them that accessibility, and they would be willing to pay for your paperbacks or eBooks.
4. Merchandize sales
Believe it or not, but having loyal followers might be equivalent to having loyal customers. They would be willing to take home a part of you, whether it is your face on a mug or your famous quote on a t-shirt. Motivational quotes are still the best designs though.
Selling souvenirs via your website or in the venue is a lucrative sideline even for motivational speakers like you.
5. Online advertising
The official websites of famous motivational speakers always get a huge amount of online traffic. You can take advantage of that by converting those to additional income. Try pay-per-click (PPC) ad networks or look for sponsors. Google Adsense and Chitika are still the user-friendliest yet lucrative ad networks to join. Your Click-through rate (CTR) should also be higher since a motivational speaker is usually trusted.
Like lawyers, doctors and professors, you can have your own personal clients for extra income. A motivational coach is also a life coach, and the demand for that particular service has never been this high. Many people want one-on-one consultation. Some will prefer to meet you in person while some will choose to stay online. Get your newsletters ready because you will definitely going to need them.
Webinars or web seminars (seminars where the speaker and the audience only meet online via a web conference) are becoming the thing in coaching. It is convenient since the speaker can accept as much participants as he wants to without living his office or home, and the audience can join it wherever they are in the world. Payments are normally made on a per session basis, but some coaches also give discounted packages for a whole series.
Podcasts are audio files that people can download for a certain price and listen to using their device anytime they want to. It is almost like a webinar, only not interactive (although many seminars are also not interactive). The good thing about this is that you can record your own speech, upload it online, and earn a certain percentage of the total price (unless you can do it via your website).
When you have loyal followers, you have sponsors. Donation actually plays a huge part in the income of many motivational speakers. As a matter of fact, some of them no longer charge for admission because the expected total donation is already enough to cover all the expenses and leave some for the income. Before you can earn decently from this, of course, your followers need to feel that they can rely on you anytime.