This is a big question I address with clients and potential clients all the time: when should I call in the professionals and what on earth do I do with them?

Some of my colleagues and friends in the field will kill me for writing this, but sometimes you don’t need to get a professional.

If you are doing one or two speeches a year, and you have the time to devote to learning about yourself and applying what you learn to what you are writing, maybe you don’t need a speechwriter.

In fact, I encourage everyone to do at least one or two speeches on their own to understand all that it involves. Every executive should write their own speech at least once to become a better business communicator, of which we will always need more. Period.

However, if you are doing five or more speeches a year, at important venues, with varying messages and wording, then get thee to a professional.

When you are doing that many Big League performances, you need someone who has the skills and resources to bring out what is your unique best.

But then you have the issue of cost.

Now, this is an era of editorial price pressure. Companies are looking for ways to cut costs from their writers, their communication staff, their freelancers and other vendors.

It’s understandable. There are price-pressures everywhere, and costs tied to hiring a speechwriter will be one of those things to consider for cutting.

At the risk of being biased [alright, I am biased], let me try to explain the issues of cost, and price, from the perspective of a speechwriter.

Let’s say you need to do a really great 15-minute inspirational speech at a Conference, something that will introduce you and your vision to the world. … And you don’t have a lot of experience.

Say you try to write it yourself, or you assign one of your senior staffers to work on this speech.

That project, at bare minimum, is going to take you or your colleague a week to put together, because:

• Someone has to figure out what it is you really want to say.
• Someone has to gather all the materials, data, arguments to back what you want to say.
• Someone has to figure out the jokes, and any other fun or entertaining stuff.
• Someone has to figure out the best ways for you to say all of this, which means someone has to put in the effort to get to know you and understand how you speak.
• Someone has to struggle through a few drafts.
• Someone has to talk with you, or someone you trust, to get the input necessary to adjust what was drafted to a final copy you feel comfortable performing. That also involves figuring out what you are really trying to say when you give that input. [This last bit is harder than it sounds.]
• Someone has to watch and listen to you as you practice this speech and figure out how to improve this performance.
• Someone has to sit with you and let you vent and work out your stage-fright and frustration.

Conservatively speaking, this project, the first time, involves roughly 40-hours of work. Maybe more.

So, what is the hourly rate of your trusted, senior colleague, or of you yourself? Multiple that with 40-hours and you have roughly the cost of doing that speech.

Expect to pay something roughly in that range for a good speechwriter because they are going to be devoting roughly that many hours (maybe somewhat less because they have the experience) and they are going to be adding all the value of their years of personal experience.

Remember, that good speechwriter is devoting those hours to you, and not to some other person or some other source of revenue. It is the reality of all billable hour professional services.

Here is where you get the value from a speechwriter:

• They’ve been around the block a few times. They’ve seen what works. They know what people are doing.
• They have experience in making the process more efficient, and more successful.
• They, usually, know what to do when a problem comes up. They’re more likely to have an answer.
• Like a sports coach, they have an incentive to win with you. Every success is a key vehicle for generating new clients.
• They’re not going to take it personally when you flip out. They’ve seen it all.
• And if you are doing more than one speech, they know how to apply all the material from a single research interview to many speeches. They know how to adjust lengths, language, tone, etc. They can make your public speaking messages adaptable, and customizable.
• They have experience with None-Disclosure Agreements. They know discretion matters.

Now, after saying all of this, we speechwriters are still too expensive for some executives. That’s just a reality.

In response, some speechwriters, including myself, are looking for ways to develop new, more affordable lines of services.

My firm’s experimentation in this arena goes two ways:

1. Experimenting with technology like apps, websites, seminars. My firm’s focus is on apps and software that help executives brainstorm and learn basic skills to get started. We’re even experimenting with speechwriting games. However, there are many, many other firms and organizations that are further advanced in this area. For example, the Professional Speechwriters Association, led by the phenomenal David Murray, offers online seminars that set the standard in this profession.
2. Experimenting with a la carte services. Instead of doing a whole speech, we would provide one of the essential steps outlined earlier and charge a flat fee or by the hour. For example, instead of doing all the drafting, research, interviewing and brainstorming, the speechwriter just does the final draft after the client does all the rest. Or the speechwriter provides an hour or two-hour consultation to give advice on how to start, plan and execute this project. Or a day of consulting and advice on how to improve the speech’s performance. The key challenge with a la carte services is clear articulation, and management, of expectations. For example, if a speechwriter is just doing the final draft, they are only going to work with what has been given to them. They are not being paid to do the initial research and information-gathering, etc., so you need to make sure you have given that professional everything they need to work with.

Now, at Enchanted Loom, we’re still experimenting with ideas on both fronts and we expect to make announcements in this area by the summer. We think there is a large demand for self-empowerment in this area, as well as targeted services.

Now, some are ready to take the big plunge and are looking to hire a speechwriter either part- or full-time.

If you want to take this route, of course look for people whose style and talent you like. Ask around.

But after you find a handful of candidates who have the talent you are looking for, pay additional attention to these attributes:

• How focused are they on getting the best out of you? How good are they are at finding your best?
• How good are they at sizing up the other communication needs of your firm, as well as the needs of your other communications staffers? How good are they at enabling this?
• Are they willing, discreetly and privately, to talk tough with you or your trusted colleagues to push you to be your best? You don’t want someone to be mean with you, but you do want someone who is willing to be honest and push you out of your comfort zones.
• How well do you trust this person? Do you have the right chemistry?

A good speechwriter realizes that only by you succeeding, can they succeed.

Now, there are many wonderfully talented speechwriters out there, all with different methods, personalities and strategies for getting the best out of you.

That’s great news for you, because there is enough variety out there for you to find the person who is best for you.

Good luck and I look forward to seeing you on stage.