For many businesspeople, consultants, coaches, entrepreneurs, and Obvious Experts, conducting seminars and workshops is not only an effective way to get your brand recognized in your field, it can be a meaningful source of income.
And if you have no track record of seminars and workshops you have conducted in the past, then you may have to do some pro bono in order to build credentials. You want to be able to say that you have led workshops, seminars, symposiums, round tables, (or whatever you call informational and training sessions in your specialty or niche) for the XYZ Association, the LMOP Company, or for 500 attendees in Des Moines, or maybe participants in three states. These are the types of claims that will help open doors for you in the future-especially if you remember to ask for letters of recommendation from the group leaders, the company executives, or other representatives of the group you taught.
The Obvious Expert, first edition, provides a helpful worksheet for seminar planning, covering six must-do steps to ensure the success of your event. Step #5 calls for you to “Determine Promotional Objectives”.
Here is what it outlines for you to do:
Calculate how many participants you will need to enroll in order to make back your expenses. You don’t have to make a profit from your seminar, but it is always good to know how many bodies in chairs it takes to break even. You will also set a goal for the total number of participants you would like for your marketing/promotional efforts to attract.
Enrollment is the “bottom line”. You can never have too many seminar participants. (If you run out of seats, find a bigger room in the same facility or schedule a second seminar the next day-don’t turn away interested people!)
The first step in establishing your promotional goals or objectives is to figure out how many students you need in order to make back the money you spent promoting the seminar-your break-even point.
Here’s how to determine that magic number:
Establish a Break-Even Point.
- Determine Total Costs. Advertising, materials, fees, travel, etc.
- Divide Total Costs by Seminar Fee.
- Result is the Number of Students Need to Break Even.
The Obvious Expert is filled with factoids just like this. The simple to understand, simple to do, down and dirty of how to market your business, consulting practice, coaching practice, or brand, without spending a fortune or losing your mind in the process. You can find all 6 steps, along with 30+ pages of business marketing gold that you can typically put to work for pennies.