In preparation of my first real preaching invitation, I found this “Application Grid” to be very helpful in developing applications from the countless hours of exegetical study:
Unique Salvation History – What about the passage is important for the way God unfolds his plan of salvation in history? What’s unrepeatable by us but worthy of worshipping God for?
Non-Christian – How does the passage speak to the unbeliever? How does it call him/her to repentance and belief? How does it warn, rebuke, correct, or prod the unbeliever? What does it say about the danger of the unbeliever’s situation, the exclusivity of Christ, the sinner’s need for a Savior, or the sufficiency of that Savior as a substitute for the sinner?
Public – What does the passage say about our lives and roles in the public sphere, both as Christians and non-Christians (e.g., government, neighborhood)?
Christ – How is Jesus foreshadowed or typed? What particular perfection of Christ does that type depict? How is Jesus remembered or described in character, authority, glory, or essence?
Christian – What does the passage mean for the life of the individual Christian? How does it call him/her to deeper repentance and belief? How does it warn, rebuke, correct, motivate, comfort, or encourage the Christian?
Local Church – What does the passage mean for the corporate life of our local church? How does it call the local corporate body to tend to its corporate life together and corporate witness to the unbelieving community around it?
Source: 9 Marks – Expositional Preaching Application Grid
Also, I’ve found these lectures/sermons from the 2007 Expositors’ Conference very helpful, especially for this seminary student who hasn’t yet taken a Preaching class yet 😉 Dr. Steve Lawson outlines 10 steps for expositional preaching that is really insightful for the beginner or seasoned preacher!