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But putting together a live event takes more planning than just slapping together a flyer and setting out folding chairs.

If you "do the right things right" a live event can be a big payday for you -- both spiritually because you're sharing your passion, and financially because of how much money a live event can create for you. Plus, your event can position you as an expert, boosting your credibility and reputation for years to come.

My first "big" event was for fifty people. At the time that seemed like a HUGE number! Even though at first I was really scared, thinking, "Will anyone actually sign up?" That one event brought in more than $350,000 in revenue over the course of a year. It also launched two new income streams for me and catapulted my reputation forward as someone who can be trusted to deliver high quality content and a high value experience.

Here are three quick tips to make sure your next event is fun AND profitable. These tips will help keep you from wasting time and instead, get you focused on making your event a big payday both spiritually and financially!

Tip #1 Plan On A Minimum Of Three Income Streams Besides Ticket Sales

Ever been to one of those big events, count the number of peeps attending and quickly multiple by the ticket price, thinking, "Wow! The host really cashed in!" Truth is, between early bird specials, bring a friend deals and other marketing strategies, most peeps in those seats did not pay full price. Ticket sales typically only cover your basic costs.

Which is why it's critical you plan ahead for creating additional revenue from your event. Options include a home study version, sponsors, additional speakers or offering an ongoing coaching program.

Tip #2 Don't Let The Hotel Venue Bully You

Hotels want to get you on the hook for tons of food and beverage, room rental, AV and more. My advice is to maintain an attitude that everything is negotiable. For example, if a hotel won't flex on waiving the meeting room space fee even though you're purchasing beverages, tell them you're talking to another venue. Just remember, the hotel contract is enforceable so estimate low on the number of sleeping rooms and food you'll need, then add on as your number of attendees grows.

Tip #3 Think Of Your Event As Having A Before, Middle And After

Participants these days expect tremendous value for their investment. I recommend offering pre-event teleseminars, plus mailing out a special note or newsletter about the event. At the event, make sure you include networking time and even a bit of entertainment to keep it interesting. After your event, plan on offering follow up teleseminars or sending any checklists mentioned during the event itself. Sending a group photo to everyone is also a nice touch.

For example, at one of my events I included a bonus pre-event video tip series, in addition to sending out actual tickets and other pre-event updates. We also created a special chat group just for attendees so they can network, arrange room shares and more. Attendees love the pre-event interaction and I love the community that's built prior to meeting live, in-person.

Done Properly, Your Event Can Shine A Spotlight On You And Dramatically Increase Your Year-End Revenue

If the spotlight is calling to you then by all means, use that desire to plan an event that leverages you into multiple 6-figures . . . and delivers fabulous content that will transform the lives or businesses of your attendees.