DOTTIE WALTERS' SPEAK & GROW RICH
Monthly E-News

August  2003

For Professional Speakers, Authors, and Consultants
FROM THE PUBLISHERS OF SHARING IDEAS NEWSMAGAZINE
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IN THIS ISSUE...
1. CREATE A POWERFUL FEE MENU AND INCREASE YOUR INCOME
2. FEEDBACK FROM LAST ISSUE: "BUREAU HOLDS"
3. WHAT'S NEXT
4. UPCOMING EVENTS WITH DOTTIE WALTERS
5. RESOURCES FOR SPEAKERS, AUTHORS, AND CONSULTANTS
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"Knowledge exists to be imparted."
-Ralph Waldo Emerson (1803-1882) US philosopher, poet, essayist
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CREATE A POWERFUL FEE MENU AND INCREASE YOUR INCOME
One  of  the most important tools a professional speaker must have is a
powerful FEE MENU. Here are 7 simple tips which will vastly increase your income, while at the same time make it much easier to work with Meeting Planners and Bureaus. It will let them know exactly what you offer and clarify your fees for your programs, products, consulting and other services. We have helped hundreds of speakers create fee menus and they have come back time and time again to say this idea alone immediately increased their income 3 fold!

1. In the past these have been called a FEE SCHEDULE. We recommend that you do not refer to this as a Schedule. Schedules are rigid and harsh. The word Menu brings pleasant thoughts of choice.

2. At the top of your Fee Menu include your photo, and a line stating:
These fees are good for programs booked before _____Date.  Keep your clients and Speakers Bureaus aware of when you plan to raise your fees.

3. We find that selling time is the simplest way to approach the services speakers offer. Listing the length of your various programs and seminars.
Example: 
Up to l Hr  $____. 
Up to 2 hrs $____.
Up to 3 hrs (1/2 Day) $____.
Full day $____.  

Be sure to list your hourly consulting fees, product packages,  pricing for
additional programs at same event (Managers Meetings, Spouse Program,
additional breakouts, vendor education for trade shows at the event etc.), customization fees, and recording rights.

4. Email your fee menu (PDF file is usually best) to the Meeting Planner you are working with so that they can look over your fees with you, just as they would choose from a menu in a fine resturant. When approaching or working with Bureaus it is best to go over your menu with them prior to suggesting you as they will have a much better understanding of what they can offer to their clients on your behalf. This can lead to much bigger contracts.

5. When presenting your services to a Meeting Planner, visualize that person looking at a giant chart on the wall which lists all the different times, and programs planned at their event, that are yet to be scheduled. Remember to ask the Meeting Planner if they have additional time slots that are not filled on the day you are being scheduled. Then suggest a 2nd program for Managers, or for the Sales Team. The Meeting Planner thus has less speakers to arrange for if you can offer more than one program relevant to their attendees, this saves money on travel expenses, and hotel rooms.

6. Many Meeting Planners do not want speakers to sell their materials at the back of the room. This is because they feel the speaker is taking time on the platform they have paid for to push their own materials for sale. However, most Meeting Planners do have additional budgets for "Educational Materials."  On your menu list Educational Materials you offer such as books, workbooks, audio programs, ongoing enews subscriptions on your topic for their attendees, etc. Price these offering quantity discounts (does not have to be wholesale but more like 10-15%) list prices for both individual products and package pricing.  List these prominently in the center of your Fee Menu. Ask your client for
their preferred shipping method and their shipping account details. Inquire if they would like your Educational Materials Packages shipped directly to the site of their meeting. This saves the Meeting Planner the extra task and expense of re-shipping from their location to their meeting site.

7. Many speakers now suggest that the client pay a flat fee for their travel expenses. The speaker then manages their own ticket purchases, receives the frequent flyer miles and other benefits. By relieving the Meeting Planner of this time consuming and often difficult job, the speaker can often arrange to go from one engagement to the next, saving alot of flight time not having to return home then having to fly right back out again.

To consult with Dottie Walters one on one for more ideas on fee menus. Please visit: http://speakandgrowrich.com/dottie_walters_consulting_services.htm

This topic is also covered extensively in our Speak and Grow Rich Seminars:
http://speakandgrowrich.com/speaking_seminar_overview.htm
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FEEDBACK FROM LAST ISSUE: "BUREAU HOLDS"
We would like to say THANK YOU to all of our readers who responded to the article, "SPEAKERS AND BUREAUS STRUGGLE WITH HOLDS", in our July'03 e-news. We have listed several responses to the article below. For those of you who missed the article you can view it in our archive at:
http://speakandgrowrich.com/ENews_toc.htm
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"Since 1992 I have been presenting over 50 programs every year and have found a solution that works perfect every time. I do most of my own marketing and sales but I am sure this would work for bureau bookings. I encourage clients to put a hold on a date (with no obligation) and I offer them a "first refusal". If someone else calls and is willing o confirm the date I call the original client and give them the opportunity to book the date or to pass. Everyone comes out a winner.

-Bob Oros
http://MoreGrossProfit.com
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"I do believe it is wrong for a speaker to lower the fee for one bureau  and
not for another. However, as Vice Chairman of a holding company that owns twelve companies and does $100 million in sales, I can tell  you that we don't reward "holds" -- we reward closing sales.  Sales are  the only thing we can take to the bank.  And, this approach is the only thing that prevents us from creating a terrible triangle with our system of distribution.  We have no desire to create unnecessary hard  feelings between the sales firm, the provider of product/service and the customer.  From my viewpoint, since the customer has the ultimate  right to decide where they will spend their money, there is only one  equitable manner of handling this issue -- the bureau that can close the sale, gets the date."

-Scott McKain,Vice Chairman of Obsidian Enterprises
(NASDAQ:OTC:OBSD), named as one of the "fastest growing public
companies" in the country by the Indianapolis Business Journal.  He
also serves on the Board of Advisors for the world-famous National
Lampoon (NASDAQ:OTC:NLPN).
http://ScottMcKain.com
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"I completely agree with you on the Loyalty Contract.  Actually, it is a matter of morality."

-Neil Wyrick
http://www.speakerneil.com/
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"The Hold example you shared is all about integrity. Any speaker that caves in...reduces fees and allows Bureau #2 regardless of reason to secure the business lacks integrity...plain and simple. Bureau # 2 also lacks integrity. Shame on them!!! If the speaker took the high road and honored comittments, it probably would'n t be an issue of losing the gig because their business would probably be flourishing as a result  of their "character reputation". To make certain communication was crystal clear, perhaps the Loyalty Letter or as I call a "Letter of Understanding" on proper protocol of various scenarios, and the preferred method of handling each common situation might help."
-Randy Davis
http://thestrategicmillionaire.com
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"Both bureaus and the speaker are partially responsible and often the client can be an instigator. Here are a few ideas:

1. Bur #1 needs to share relevant details about the client with the  speaker: client name, event date/time, type of meeting, budget, etc. With this info the speaker can recognize and tell both bureaus about an obvious conflict. Some bureaus still withhold this info from the speaker, at the holding stage. I would take a second hold from Bur #2. It's the client who makes the ultimate decision about which bureau they want to do business with. Bur #2 could still ethically get the deal, and my full fee, if that's the client's preference.

2. Bureau #2 is the most culpable for an ethics violation, if they are an
IASB member, by promising the client a lower fee, as a ploy, to steal the deal from Bur #1...This tactic demonstrates questionable integrity, which is not acceptable, in my book. If I learned about this practice, I would choose not to do business with Bur #2. What kind of trust can you have with Bur #2, ever? I would quote Bur #2 the same fee quoted to Bur #1.

3. Fee integrity is a touchy subject, especially in this "post 911" economy.
My favorite bureaus know that special discounts are sometimes part of the negotiations. I will attempt to add value to the deal, so the client will accept my full fee. Full fees do mean full commissions. If a discount becomes a deal breaker, if it's a special client or a unique opportunity, my favorite bureaus have occasionally offer to lower their commissions, too. That kind of business practice builds my loyalty, no oath necessary.

4. There is another common wrinkle to this situation, and it concerns a
serious need for client education. Bur #1 takes a 1st hold and unbeknownst to them the client is also working with two or more others bureaus, for the same event. Bur #2 calls me with the same deal and gets a 2nd hold. Bur #1 get a heads-up call from me. Too many clients are ignorant that multiple bureaus working on the same event will not save the client any money and will be a significant waste of their time to review 2-3 times more speakers. Every bureau needs to educate their clients that one bureau at a time is their best approach.

Clear, honest communication and good customer service will keep more loyal clients than anything else. Anything less is not good business."

-Dr. Arden Bercovitz, CSP - The Einstein Guy
http://EinsteinAlive.com 
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NEXT MONTH'S SPEAK & GROW RICH E-NEWS will be full of ideas on creating publicity for your speaking, writing, and consulting career. With guest articles from some of the industry's top publicists!
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UPCOMING EVENTS WITH DOTTIE WALTERS
NEXT 2 DAY Speak and Grow Rich Master Weekend will be held:
August 23-24, 2003 Glendora, CA (626) 335-8069
October 4-5, 2003 Glendora, CA (626) 335-8069
http://speakandgrowrich.com/speaking_seminars_master_weekend.htm
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DON'T MISS the 2003 Magnificent Marketing Symposium for Speakers Authors and Consultants. Featuring Tom Antion, Jeff Herman, Elsom Eldridge, Dottie Walters, Tami De Palma, Dan Poynter plus many more of the Speaking Industry's TOP Marketers.  A MUST for Speakers, Authors, and Consultants at every level!
September 18-21, 2003, Universal Sheraton-Hollywood, CA 
To register and to find out more please visit:
http://speakandgrowrich.com/s_2003_mm_overview.htm
or call (626)335 -8069 for your free brochure.
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RESOURCES FOR SPEAKERS, AUTHORS AND CONSULTANTS
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to do more in less time. Our flagship product eVentPRO helps manage your
office, while our newest product Marketplace provides an Internet
gateway to speaker bureaus. Find out more about these tools by clicking on the link below:
eVentPRO :http://www.espeakers.com/eventpro
Marketplace: http://www.espeakers.com/marketplace/speakers.html
Try it free for 30 days.  We're confident that our products will become
indispensable to you.  To prove it, we'll give you 30 days of the ully-functioning
service free of charge or obligation. To get your free trial, use ESPK code
during signup. http://www.espeakers.com/information/30day.html
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http://www.speakandgrowrich.com/sharing_ideas_overview.htm
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Check out the Yearbook of Experts, Authorities & Spokespersons at
www.Yearbook.com.   They have lots of features including NewsReleaseWire.com, RadioTour.com and ReviewBook.com, plus you can download their complete book at www.YearbookPDF.com free of charge.  To be included check on the signup flag at www.Yearbook.com, they have a $ 100 off offer right now with free months.
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Best wishes for your success!
Dottie Walters, CSP
International Speaker, Author, Consultant
Author Highest Rated book In THE Speaking WORLD, SPEAK & GROW RICH
Publisher/Editor: SHARING IDEAS newsmagazine, 25th year of publication
President/CEO, Walters International Speakers Bureau
Publisher, International Directory of Speakers Bureaus
Founder, International Association of Speakers Bureau Owners, IASB
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Don't miss all the latest cutting edge money making information for today's speaking industry!