Conducting Public Seminars and the Four Sources of Income Generated

Public seminars are the most visible and largest part of the knowledge business. They are the second easiest aspect of the consulting business to enter - after consulting itself. That is why every consultant must consider seriously whether public seminars might have an important role in his or her marketing efforts.

The essence of a public seminar is that it is a meeting of those from many affiliations with a seminar leader for the purpose of learning or development. Although public seminars have existed for thousands of years, the modern public-seminar industry began more than sixty years ago with the American Management Association. Since that time the public-seminar business has grown dramatically and represents a $12 to $15 billion per-year industry for seminar fees alone. The related costs for travel, lodging, and other expenses double or triple this estimate.

Annual attendance at U.S. public seminars exceeds fifty million participants, and attendance is growing at a rate of more that 10 percent annually, well above the rate of growth of the U.S. gross national product. Because the needs met by public seminars are so deeply rooted in business and economic trends, this growth rate is expected to continue for the foreseeable future.

Participation in public seminars can benefit the consultant directly by inducing income from a variety of different sources during and after the seminar, as well as through sales leads that can be used for all the other products and services.

Public seminars can also benefit the consultant indirectly, providing travel opportunities, exposure, and group experiences that can later be used in research or writings.

At least four sources of income can be realized before the pubic seminar or training program is completed:

1. Teaching Fees. This is the income obtained by teaching seminars for others. Teaching fees are generally figured on a per-day or per -course basis and can range from nothing for some of the larger nonprofit organization that believe nonfinancial compensation(outlined elsewhere In this section)is adequate to $600 or $700 a day for teaching the standardized courses of the large for-profit public seminar providers. A good working average is $300 to $600 per day. In all cases, out-of-pocket expenses are reimbursed. A regular instructor of a successful public seminar firm can expect to obtain fifty to a hundred teaching days a year.

2. Author Royalties. Not as visible as teaching fees, author royalties can still be significant and are derived by designing and developing a seminar that will be taught by the author and others. Compensation for designing and developing a seminar ranges from per-diem rates in the $800 to $1500 per-day range to royalties based on per-person and /or per-session taught, ether by the author or by others.

3. Registration Fees. While the previous two sources of income are derived through seminars sponsored by others, registration fees income is derived only when the consultant sponsors and conducts the seminar. Registration-fee income can range from $10 to $15 per person for a half-day seminar aimed at individuals up to thousands of dollars per person for a three-to five-day seminar for top executives. Highly personalized "skunk-works" sessions with nationally known figures have been known to command five figure registration fees. These large income numbers are often associated with correspondingly large expense commitments, so sponsoring and promoting public seminars is not for everyone.

4. Back-of-the-Room Sales. An often overlooked part of the revenue derived from public seminars and related events is the sale of books and materials at or immediately after the event. For many half-or one-day seminars, these sales constitute the major income source and can well be the principle reason the seminar is held. Although these revenues principally benefit the seminar sponsor or promoter, if a consultant is allowed to sell products when conducting seminars for others, added income can be generated.