What is a live event without an educator? Even if the educator is you, the organizer, that still counts. If you're planning a workshop of about a dozen attendees, and you believe adding another educator will be valuable for the content or event itself, consider searching for an educator who will complement your training and services. Let's say the content theme of your live event is planning your social media content. If you're a social media content strategist, perhaps a social media manager would be the perfect ying to your yang. You can educate on the strategies to curate and write social media content while the social media manager can educate on the implementation of those strategies. From a planning perspective, doing it this way also helps lessen the amount of content you'd have to put together for the workshop sessions, if you're sharing the content responsibility with someone else.
Once you've solidified your educator(s), compensating them is always the tricky part. There are so many conversations around this particular topic and what ways are ethical. I've seen educators leave the online entrepreneur industry because of differences in opinion as to how they want to be paid. So we're gonna clear all of that up in today's post as I show you three ways to pay your educators.
In the creative entrepreneur industry, we don't always necessarily compensate our educators with money. Instead, organizers may provide an area where they can sell their products or give them an opportunity to pitch their services, for example. Most educators negotiate that the organizer pays for their transportation, meals and hotel accommodations. While you consider some ways in which to compensate your educators, I can discuss three with you now.
The first way is to provide an opportunity. Some organizers offer to pay the educator's travel/hotel accommodations and/or offer a free seat at the live event. This is very valuable and can prove to be a great opportunity for someone who may be just starting out and getting their feet wet as a live event educator. Organizers don't just stop there. They offer the educator an opportunity to pitch their services after their session or they even encourage them to bring their products to sell at the event. For a newer educator, this is a great opportunity to get your product or service in front of a new audience and receive possible sales. This is a great place to start. If this is the compensation route you'll take, consider reaching out to newer educators or someone who you already have a relationship with. Always be upfront during your initial conversation so that both you and the educator are on the same page.
The second way is to split the sales. This is a great way to compensate if you are co-hosting your live event with a partner or will have one other educator who will educate with you. Doing it this way would mean that you'd need to do the Math and make sure that the number is agreeable between the both of you. This compensation route could look like the educator receiving anywhere between 5% - 50% of each ticket or the total sales. If we were to put some numbers to this, it would look like this.
If the ticket price is $1000, and the event is a workshop for 12 attendees, the educator could receive anywhere between $50 - $500 per ticket or $600 - $6000 for the total sales.
Of course the percentage would determine if they're an educator or a co-host. If the latter, then you'd need to take into consideration how much they're contributing to the financial cost of the live event planning.
The third way is to pay their invoice. An experienced educator will more than likely have a speaking fee and will require that to be paid before they come to your event. For some, the speaking fee is a base fee and will require that their hotel and meal arrangements are taken care of. If you're unable to pay the invoice, the alternative they may offer is to purchase a certain number of their books or other product. It usually comes out to be roughly the same investment but the difference is your attendees get to go home with their book or product. I learned that from my friend Elizabeth Pampalone. Educators being represented by management firms are not unheard of in the creative entrepreneur industry. So be prepared to negotiate if necessary. Not that a new or newer educator won't require a paid invoice, but most times, this is the way to get an experienced educator at your live event.
Those are the three ways to compensate your educator. I do want to note that you need to make sure to include contracts so that the stipulations of the compensation route you chose are put in writing. It's a bit more difficult to misunderstand or misinterpret terms when they're clear and in black and white. Contracts protect both you and the educator.
Pro tip: When you're working on your rates, remember that your educator is an expense! Add it to the list of expenses and make sure it's covered in your overall price.