Counter intuition, deal cutting and commissions
I really like sharing my ideas with groups of people – so much so that I often get up on stage in front of large groups of people to to do this. After doing it for the best part of 10 years (usually in local startup events & for friend who work at large corporates) I started to get offered money to speak at events. Which is quite exciting. It’s a classic example of the wood chips generating a significant revenue stream on their own. I’ve recently starting working with an agency to help me manage my speaking engagements. Again, these guys came to me through others who recommended me as a potential source of revenue to them – apparently I give good voice.
When we talked about how the agency thing works for their speakers the issue of commission came up. Surprisingly I was advised that I could pick my preferred commission to give to them. I could chose to give the agency a lower percentage commission if I wanted. I could give a commission of 10, 20 or 30 percent. I chose 30 percent. My dad once told me the easiest way to make money is to help other people do the same. To create a deal where there is enough in it for the other guy that they go to work for you. So I took his advice.
The principal of the agency then told me it was a good decision and that most people take more and but end up with less.