How can you manage stakeholder concerns about speaker fees and contracts?

As a motivational speaker, you want to deliver value and impact to your audience, but you also need to get paid fairly and protect your rights. However, negotiating speaker fees and contracts can be challenging, especially when you face stakeholder concerns about your rates, terms, and expectations. How can you manage these concerns effectively and professionally, without compromising your reputation or relationship with the client? Here are some tips to help you.

1 Know your worth

Before you enter any negotiation, you need to know your worth as a speaker. This means researching the market, understanding your niche, and evaluating your skills, experience, and results. You also need to factor in your costs, such as travel, accommodation, materials, and taxes. Knowing your worth will help you set realistic and reasonable fees that reflect your value and expertise, and also give you confidence and credibility when discussing them with potential clients.

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Chandana Goswami

LIFE COACH (ACC), Former Management Professor TEZPUR UNIVERSITY, Motivational Speaker, Corporate Trainer, I facilitate transformative change in working adults
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Keep in mind how much you have invested in yourself to reach the position you are in now. Have a true assessment about how your sessions are appreciated. This will give you a clue of how much to charge. And on the other hand, we need to be aware of how much the organizers are capable of paying.

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2 Communicate clearly

One of the main sources of stakeholder concerns is a lack of clear communication. You need to communicate your fees and contract terms in a transparent and professional manner, and avoid any ambiguity or confusion. You also need to listen to the client's needs, expectations, and budget, and address any questions or objections they may have. Communication is not only about exchanging information, but also about building rapport and trust. You want to show the client that you are not only a great speaker, but also a reliable and respectful partner.

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3 Be flexible

Another way to manage stakeholder concerns is to be flexible and adaptable. You may not be able to get your ideal fee or contract every time, but you can still find ways to create a win-win situation for both parties. For example, you can offer discounts for bulk bookings, referrals, or testimonials, or you can include some value-added services, such as coaching, consulting, or follow-up sessions. You can also negotiate on other aspects of the contract, such as payment terms, cancellation policies, or intellectual property rights. Flexibility shows that you are willing to work with the client and find solutions that benefit both of you.

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4 Educate the client

Sometimes, stakeholder concerns stem from a lack of understanding or appreciation of what you do as a speaker. You may encounter clients who think that speaking is easy, or that your fee is too high for a one-hour presentation. In these cases, you need to educate the client about the value and impact of your work, and how it can help them achieve their goals and solve their problems. You can use testimonials, case studies, or data to demonstrate your results and outcomes, and explain how you prepare, customize, and deliver your speech. You can also highlight your unique selling proposition, or what sets you apart from other speakers in your field.

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5 Stand your ground

Finally, you need to stand your ground when faced with unreasonable or unfair stakeholder concerns. You may encounter clients who try to lowball you, pressure you, or take advantage of you. In these situations, you need to assert your boundaries and standards, and be prepared to walk away if necessary. You don't want to compromise your integrity or reputation, or accept a deal that will leave you feeling resentful or exploited. Remember that you are a professional, and you deserve to be treated and paid accordingly.

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Amy Lemire CSP® DTM®

I collaborate with high-performing leaders and teams to accelerate sales, elevate performance, and amplify success by simplifying sales complexity.
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It is very important to have boundaries in the speaking business. Don’t be afraid to ask-and it is necessary to ask stakeholders upfront what their budget is for the speaker, You may hear that they don’t have a budget or they may tell you what they have set aside to spend on a speaker. This helps you make informed decisions as to whether or not you’d like to accept the speaking opportunity. I also created a checklist: is the opportunity a paid opportunity? Is it in my geographical area? Do they pay travel fees? Is this a target, rich, energy, audience that would benefit from my products and services in the future? It’s OK to walk away, I always find my self-worth rises when I say no versus accepting an opportunity that I later regret.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you manage stakeholder concerns about speaker fees and contracts?

1

2

3

4

5

6

1 Know your worth

2 Communicate clearly

3 Be flexible

4 Educate the client

5 Stand your ground

6 Here’s what else to consider

Motivational Speaking

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How can you manage stakeholder concerns about speaker fees and contracts?

1

2

3

4

5

6

1 Know your worth

2 Communicate clearly

3 Be flexible

4 Educate the client

5 Stand your ground

6 Here’s what else to consider

Motivational Speaking

Rate this article

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