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Update 4/11/2014: Substantially expanded the section “submit bills electronically”
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This is the latest in the Speaker Academy series, which started here. The series is addressed to patients and advocates who basically know how to give a speech but want to make a business out of it. I’ll try to be clear to all readers, but parts may assume you’ve read earlier entries.

This post is about cash flow – an important part of being responsible for ourselves financially. In earlier posts we discussed getting agreement from your client on the value of your message and the need to get paid: Ratty Boxers, A turning point for patient voices, and Speaker Academy #15: The Contract. This post is about managing how the cash actually gets to you, because many hearts have been broken along that road.

1. For a small business, cash is king

One of the most common causes of small business failure is running out of cash. So if you want to build a business, even a small one, it’s your responsibility to be businesslike about cash flow. On About.com, Scott Allan put it this way:

Cash (Flow) Really Is King

One of the most important lessons entrepreneurs have to learn, often painfully, is that cash really is king. I’m not talking about paper money — I’m talking about cash flow. Simply put, it doesn’t matter how much money is coming in the future if you don’t have enough money to get from here to there.

Don’t plan to spend money you don’t have yet.

[Read more…]

Addition October 30, 2014: in comments a meaty discussion has started on a subject that’s related but different – NDA’s (Non-Disclosure Agreements). They rarely arise in speaking engagements but they can often be part of “the business of patient engagement.” Have a look if you’re interested.

This is the latest in the Speaker Academy series, which started here. The series is addressed to patients and advocates who basically know how to give a talk but want to make a business out of it. I’ll try to be clear to all readers, but parts may assume you’ve read earlier entries.

I’m at the Institute for Healthcare Improvement’s 25th annual forum in Orlando, participating in a day of patient speaker training. In side conversations one thing that came up is the business relationship: getting paid. And that starts with the contract.

Do you need a contract?

Contracts weren’t important for me when I had few engagements and little pay. But when things got busy I needed structure. The contract I use (at right) provides:

• A clear record of logistical details: where, when, arrival & departure, how you can list it, etc.
• A clear record of finances: fee, expense reimbursement, and down payment
• Who’s expected to be in the audience. (Today one speaker told of a case where she was sure an audience would be nurses, and found out at the last minute it was patient advisors!)

And of course in the rare case where a relationship goes sour, the contract records who owes what to whom. It’s not that you’ll end up in court – to the contrary, it keeps you out of court, because the rules are already in writing.

I also added sections for things that kept popping up as problems: [Read more…]

This is the latest in the Speaker Academy series, which started here. The series is addressed to patients and advocates who basically know how to give a talk but want to make a business out of it. I’ll try to be clear to all readers, but parts may assume you’ve read earlier entries.

There seems to be a storm brewing around the issue of speaking for free (or not), which I’ve written about several times (most recently last week). I expect it’s going to get louder, so I want to clarify some points. Then I want to get back to engaging with the audience!

This may be controversial to some readers; fine – I’m open. Let’s discuss or (correct me) in the comments:

• Your time is your own. I’ve never said you should never speak for free.

• I do say that you should be thoughtful about how you spend your time, and not be suckered by event organizers who flatter you about your greatness but offer you nothing. Those people are usually parasites, making a living off your time and your thoughts.
  • My favorite low-life conference organizer, World Congress, once pumped my brain for an hour about who should speak at an event they were organizing. They were so enthused I assumed that after a couple of years wrangling with me, I was finally going to speak there. Nope: they didn’t know a single thing about the conference topic, so they were just pumping my brain! Then they went and got those people to speak – for free, I’m sure, while advertising that they’d convened a summit on the subject.

Particularly relevant at this moment is that some events truly do bring you good exposure, which leads on to good things.

My view isn’t the only view, but: in my view perfectly good reasons to do a freebie include (but aren’t limited to):  [Read more…]