Win A Pageant

70: 6 Steps to Calculate the Value of your Pageant Prize Package

Win A Pageant Podcast-03Last month I married the man of my dreams and Island Hopped in Hawaii for a few weeks. Now, I’m back in San Diego with new excitement about the Pageant Interview Course, which will be coming out next month! You’ll hear a lot about that in the coming weeks as we launch that program and some free trainings about pageant interview, so stay tuned for that.

In today’s episode, we’re going to discuss how to calculate the actual value of your pageant prize package. You know how the pageant may say the prize package is a whopping $75,000-dollars, but if you only use $1500 of that, it’s really only worth 1500 to you, right?

Before you decide to enter a pageant, you have to name your goals and commit to growing regardless of the outcome. Some women end up winning pageants and then are shocked to discover the prize package is rather sparse and the title is more trouble than it’s worth. Once you’ve calculated the true value of the prize package to you at this moment in your life, you’ll be able to make a wiser decision about how to prepare and budget in order to win. You know that there are costs involved in every hobby and career move, pageants are no different.

It’s not easy to win a pageant, there is a lot you have to afford, give up, and buckle down on. If you have to remortgage your house and postpone your sister’s heart surgery just to compete in a pageant, you may want to at least make sure the juice is worth the squeeze. This 6-step Prize Package Calculation process will help you identify how much the pageant is really worth, which will help you to prepare your budget, and help you decide what you’ll give up and where you draw the line. 

1. Create a spreadsheet you’ll have 4 columns and several rows.

2. In the first column, in each of the rows, you list all of all gifts & obligations the stuff you’ll receive and the requirements:

  • For example, if you are getting a crown and sash, bouquet of flowers, a photography session with a local photographer, a pair of ice skates, and a $500,000 scholarship to a chiropractic school put each one of these in a row in the first column.
  • Obligations are if you have to go to compete at Nationals or be present for a certain appearance.

3. In the second column opportunity value over 2 years:

  • How are you growing? Credibility, skills: speaking, communication, lessons learned
  • What are you developing? Processes, systems, networks you are creating lay a foundation for your future
  • Who are you meeting? Network is your net worth career opportunities, etc
  • Where are you going? Experiences you otherwise wouldn’t have
  • When will you ever have another opportunity like this? Timing of this moment in relationship to the other things you’re doing in life (school, career, family, etc)

4. Subtract opportunity cost over 2 years: What will you have to give up?

5. Assign a monetary value (if time or training, put a number next to what it’s worth to you):

  • Pay special attention to the things that have monetary value, but are of no use to you

6. Add the value and subtract the cost.

Don’t be fooled: not all pageants bring value. Usually, you get out of it, what you put into it.

During your preparation process, when you are crystal clear on how the outcome of this pageant will propel you (versus hold you back), you will be so much more driven to go all in. Plus, when you know the absolute value of a pageant in your life, you’ll be much more confident explaining it to your parents, boyfriend, or boss next time it comes up. 

Don’t let someone else’s dream become your dream without
getting clear on the vision and it’s application to your own life.
Do the work & get educated.

Because, that, my dear, is how you win a pageant. 

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