Remember when you were a kid and you learned that it was easier not to lie and that if you always tell the truth you don’t have to remember what you have said?
I am glad my parents taught me that, and I am glad I have used that principle of integrity in running my own business. Operating an ethical business is so much less stressful. Our industry model is to receive a 50% deposit upon signing of a contract. Then, the final payment is due just before the speaking engagement.
We have set up our accounting at GDA so that these deposits go into an “escrow” type account and we NEVER touch the deposits. We treat them as refundable client deposits because in the event that a speaker has to cancel and we are unable to find a suitable replacement, then that money is due back to our clients. We have never gotten in to any trouble by spending deposits due to the fact that we simply do not allow those monies to commingle.
We also hold firm to getting the final payment in before the speech. Although it is sometimes not easily understood by a new client, I simply explain to them that I am not going to ask a speaker to get on a plane to give a speech unless I know we have the money in hand. I run a speaker’s bureau not a collection agency. That way, we are able to maintain great relationships with our speakers since we show our respect to them by paying each speaker on a timely basis.
These are just a couple of ways that we demonstrate ethical business practices. In addition, I am proud of our association and my role with IASB, the International Association of Speakers Bureau. Our association has a code of ethics and I make sure that every new employee signs them and understand exactly what they are signing. I want everyone to know that I consider doing business above board and beyond reproach as basic.
Perhaps the most important way we ensure that we are ethical is standing behind our word which seems appropriate given we are in the speaking business. Doing what you say and meaning what you say just makes sense. And come to think of it, isn’t that another basic lesson from mom and dad?
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