Embracing Your Role - Carol Cox on Owning Your Identity as a Business Owner & Leader - Ep 109

Show Notes

On today's episode of Entrepreneur Money Stories we have the pleasure of welcoming Carol Cox, an esteemed entrepreneur, thought leader, and Democratic political analyst, who has been making waves in the speaking industry. In this episode, we explore Carol's transformative work with women who have been in business for several years and are seeking to take their ventures to the next level. Whether their expertise lies in psychology, STEM, leadership, or other domains, Carol guides these women in crafting signature talks that fuse personal mission and storytelling, creating an authentic and resonant connection with their audiences.

Building to Paid Speaking Engagements

One common dilemma among aspiring speakers is the uncertainty surrounding the value and significance of their stories. Carol highlights the importance of speaking from the heart, focusing on what truly matters to you, and weaving a thread that aligns with your business. By enabling the audience to feel and believe in their potential, a speaker can truly make a lasting impact. While lead generation often serves as the initial motivation for many people entering the speaking arena, Carol emphasizes the power of speaking at conferences and local groups that genuinely resonate with one's audience. As a speaker's reputation grows, opportunities for speaking engagements will arise, providing the chance to negotiate fees and establish a solid financial foundation.

Why Add Public Speaking to Your Repertoire?

While podcasting offers an excellent platform for honing speaking skills, Carol reminds us that speaking in front of a live audience brings a distinct set of challenges. Public speaking, often cited as a common fear, can profoundly enhance personal growth and self-confidence. Carol herself identifies as a speaker rather than a writer, encouraging individuals to verbalize their thoughts to facilitate problem-solving and self-discovery. Through sharing a personal story of her own journey, Carol reveals the transformative power of speaking and how it led to the creation of Speaking Your Brand®, her groundbreaking venture.

Can You Be a Writer and Speaker?

Carol firmly believes that one can excel as both a speaker and a writer. She recalls working with a client who beautifully transposed their jointly created signature talk into a written format. However, she cautions that writing and speaking require different approaches, as the spoken word possesses a unique cadence and rhythm. Transferring written content into a speech demands careful consideration and adaptation.

Considering Pricing

Another critical aspect Carol addresses is the money mindset associated with speaking engagements. Many women tend to undervalue their services, charging less than they should. While speaking fees may vary depending on the audience, event, and organizers, Carol suggests keynote speakers should consider a minimum fee ranging from $2,500 to $3,500, with experienced speakers able to command up to $10,000. For workshops and training, a minimum fee of $2,500 is recommended, which can increase to $15,000 and beyond. It is crucial to recognize that speaking engagements are a value exchange, where the speaker's expertise and experience deliver tangible benefits to the audience.

To ensure fair compensation, Carol advises speakers to list their pricing on their websites, promoting transparency and allowing potential clients to make informed decisions based on their budgets. Additionally, when considering speaking engagements for exposure, it is important to assess whether the audience aligns with your target clientele, if you will have access to valuable photos and videos, and whether the event host advocates for you. By tracking the speaking engagements and measuring client conversions, speakers can identify the events that yield the best results and tailor their future choices accordingly.

Carol's Money Mindset

In the closing segment of this episode, Carol shares her personal experiences and the ups and downs of her money mindset as a long-term business owner. She highlights the significance of valuing the services she provides and pricing her business accordingly. With the advent of the pandemic, Carol's company swiftly adapted to virtual speaking and thought leadership, emphasizing the importance of becoming a thought leader in one's industry. Taking permission for oneself to be a thought leader and pushing boundaries to advance conversations and ask profound questions are vital aspects of establishing oneself as a true catalyst for change.

Join us for this captivating conversation with Carol Cox, as she empowers women to find their voices, embrace their stories, and activate ideas for change. Discover the transformative potential of public speaking, gain insights into pricing your services, and uncover the path to becoming a thought leader in your industry. Get ready to embark on a journey of personal growth, professional empowerment, and impactful storytelling.

Key Points

[03:15] Building to paid speaking engagements

[10:25] Why would someone want to add public speaking to their repertoire?

[14:44] Can you be a speaker and a writer?

[17:28] Speaking as revenue: considering pricing

[21:47] Starting the conversation of being paid for a speaking engagement

[26:59] Carol's money mindset

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Connect with Carol: linkedin.com/in/carolcox/

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