I do have to kind of hone in here, but it's hard. So I got to ask you, which do you think is better to participate in O Summit or host it? Because it's a lot of work. Well, to participate, like, so as a speaker, it's a great opportunity. And here's the thing I'll say out there. A lot of speakers are completely missing the mark on this. Because there's more opportunities for speakers to speak on virtual events and virtual summits. Now, a lot of them aren't giving it their all.
It used to be, I mean, I wrote an article blog back in 2019 for 2020, the future of virtual summits. And it's crazy how spot on it was even before knowing COVID was going to happen on what was going to happen. With that being said, virtual summits and virtual events aren't going anywhere. They're actually becoming more and more adapted.
Like, we're actually having an entire department now that's dedicated to in-person or professionals, let's say, like chiropractors, dentists, attorneys who are running virtual summits, one day virtual summits in their local community with speakers in their local community. It's still virtual because people still want to watch it from the comfort of their home.
But they're becoming like the local celebrity in their communities from these, as well as building their their list, their audience and getting more people into their practices and their businesses. So we're seeing it being done in places you wouldn't have even thought of doing virtual summits before. So with that being said, they're not going to go anywhere. The where the speakers are missing the mark here is back in the day when you got asked to speak on a summit,
it was a great opportunity. You played full out. A lot of times, speakers now do the bare minimum. I will say if you play full out, if you actually mail, promote and participate, get in the audience, get in the groups, if they do a speaker panel, volunteer to be on that panel, you're going to build your bandwidth, your publicity, your growth and the opportunities that are going to come out of that for you are going to be tremendous as well.
10x. It's going to be great opportunity regardless, but pick the ones that you know are going to be great for you and play full out. You're going to get so much more out of it. So being a speaker is amazing because you're right. You don't have to do as much work. But at the end of the day, you know, the rewards go to those who do put in the work and being a host, although there is work, it does take time.
Again, if you're doing a multi-day summit, you're looking at probably three or four months minimum. It's a decent amount of work just because of the amount of interviews and stuff that you're going to do. I will say because of platforms like virtual summit software, it's reduced the amount of tech work that went in my first summit. It took me over 100 hours to build.
There were seven different pieces of software, 26 plugins and over 100 hours cost me $7,000 and still looks like a third grader build it. Now I can build that same summit in two hours or less for $97 on the virtual summit software. But with that being said, hosting the summit does not have to take you a long time.
If you're doing a one day summit, which is what I recommend everybody starts with, you're talking 30 days, 30 days and maybe five to 10 hours if you're doing like six to eight speakers. Right. I mean, all of us have that extra time, especially to generate an extra 500 or 1000 leads that may turn into 10, 20, 30, 50, 100 new sales. So it's really the cost. The cost of time benefit is phenomenal.
Most of the hosts that I know who run a summit end up running multiple summits ongoing every year because of how beneficial they are. And then they set them to the ever summit status, you know, and put it on their website or their resources page. And it just becomes now an automated funnel that brings people into their database, into their community and turns into sales without them even having to do anything. I mean, that's really the end goal. It's not a get rich quick scheme.
It's not going to make you, you know, if you're not running traffic to it, it's not going to make you millions of dollars on as an ever summit funnel, but it will generate you. I mean, we have a naturopath that wanted to break away from his practice. He started running. He did a one day summit. It was a Parkinson's solution summit. He focuses on brain solutions. He ran that he had eight professionals come and speak.
He ran that same one day summit on the ever summit feature in virtual summit software each month. He ran traffic to it. He think he'd put like five or six thousand dollars a month into paid traffic, which is nothing when you hear what I'm about to say. He got a hundred new patients a month, generated over a million dollars in new patient revenue over the course of one year by running the same one day summit. He built it one time, reran it and generated him over a million dollars in new patients.
We see all kinds of level, different levels of that. But I mean, that's the kind of thing that can happen when you have something that people want to participate in.