A Financial Education Event
 

How I Earned A Six Figure Income As a Spokesperson / Brand Ambassador – part 3

On one of my early spokesperson gigs, my co-host was a wiener. He was one-dimensional, wouldn’t speak his lines and always managed to be the center of attention for every one of the 30 media interviews we did via Satellite on the coast-to-coast Satellite Media Tour (SMT). I had to carry the client messaging for each and every morning news television interview, yet this co-star managed to soak up all the limelight and get the closeups, while I did all the heavy lifting. An SMT was brutal work and involves a high-level skill set that can only be successfully accomplished by the top 5% of Spokesperson / Brand Ambassadors. I was 100% on my messaging, no thanks to this high maintenance, hot dogging, co-host. The client was Oscar Meyer.

We’ve covered quite a few aspects of spokesperson work in parts one and two of this series, from the definitions of the work to the skill set required. Now let’s talk about the process of what happens from start to finish during the brand ambassador experience.

 

Step One:  Initial PR Ping

The first outreach for a potential spokesgig is usually a PR firm, who googles experts in the area they are researching (finance, beauty, mommy bloggers, chefs, etc). Then they will send an email, fill out a contact message on your website or reaches out through social media platforms. This began to happen to me after my first book, Shop, Save and Share, came out in print. There was a query from Quaker Oats, then one from Dial soap, then another from Blue Diamond Almonds. The first time, I wrote back a message that quickly made it clear to the PR representative that I was absolutely clueless and didn’t even know what the outreach was about. I didn’t get the gig. I didn’t even know that I didn’t get the gig because I didn’t even know there was a gig to get.

The second query was turned over to a speaking agency that repped me at the time and they buffooned it because they didn’t know how to handle spokeswork. The third time, I turned it over to my publisher’s marketing rep and then discovered that’s it’s against policy for them to represent this kind of work—it’s a conflict of interest. In some cases, it’s even illegal. Oops!

 

Then there was the 4thtime a brand reached out, and I reached out to a group of Advanced Writers and Speakers Association to see if anyone knew a spokesperson representative. I was connected with a reputable agent and she helped me get that first contract that was with MasterCard. She also garnered 25% of my earnings—but 75% of something was better for me than 100% of nothing. Eventually, I was catching items on the spokes contracts that I didn’t want and the agent didn’t always catch them. Since then, I realized that 20% commission is common for gigs that the agent brings the talent and 15% is common for gigs that the talent brings the agent. My business background allowed me to become a master at reading, negotiating and executing my own contracts. But that took years of experience to achieve. At first, I didn’t know what I didn’t know and I paid dearly for it before I got an agent.

Action Item: Make it easy for PR people to find you, add the term “brand ambassador” and “Spokesperson” to your social platforms, website and in any groups where you are a member. Set up a contact form on your website set up a dedicated website if you don’t already have one for your brand–a social platform isn’t enough.

 

Step 2: The Initial Conference Call

Today, I know that 9 out of 10 initial “Pings” or inquiries from an employee at a PR firm or from a corporation do not progress past the initial inquiry. If the brand influencer or spokes agent that answers
the inquiry knows how to manage the initial inquiry, then it can progress to an interview or conference call with the potential client.

It’s during this fact-finding conference call that you (or your agent) let them know who you are, how well you do verbally and what your skill sets look like. They also want to hear what ideas you might have for the project. Creativity is a must during this phase.

It’s also during this phase that you decide if you can get behind the brand or product. I made it a point of never endorsing a product I didn’t wholeheartedly believe in and that philosophy helped me keep my integrity intact. In addition, as a spokesperson agent, I won’t work with potential clients of mine that would take a deal just for the money–endorsing something that is bad for the general marketplace. Integrity matters.

This step is where your agent or other team member does the selling. They do the bragging on you and your abilities while you just talk about your projects and passions. You might also be required to sign an NDA (non disclosure agreement) and that’s not unusual.

Action Item:  Never endorse a product you don’t believe in and keep a high level of integrity. Make a point of eliminating “uhs” and “ums” and filler words like “so” and “yeah.” The overuse of these words make you come across to the client as unsure or lacking in confidence. An organization like Toastmasters is a great place to go in order to learn to master the kind of extemporaneous talk that will occur during crucial conference calls.

 

Step 3: The Money Talk

If the PR firm and/or the client they are representing is interested in you and is seriously considering hiring you as their Spokesperson / Brand Ambassador then they ask what you charge. If you have an agent, they handle the money talk while you remain the happy talent.  At this point a smart brand ambassador or a smart agent asks for a SOW in writing (scope of work), otherwise there can be a he said/she said in terms of what the work actually is during step 4 or step 5.

There’s an art of negotiating a deal and I absolutely love this part of the process—whether I’m negotiating my own deal or one on behalf of my clients. You give a price based on the fair market rates for someone with your following and skill set. I usually start a bit high at this point. It’s a delicate balance because you want to price yourself at the value you are worth without pricing yourself out of the market. I figure if they are interested, then they will be willing to come back during step four and negotiate for a deal within their budget. At this point, instead of a one in ten chance (as in step one) you have about a 50% chance that the deal could go to a contract.

Action Point:  The money talk is a very important part of the process, establish a rate card ahead of time and know what the charges are for different deliverables. Make sure your agent (if you have one) or your other team member has also eliminated the filler speech we previously outlined in step 2’s Action Point.

I’m developing a course and we will get into greater detail when it comes to the money part of the contract. If you are interested in being a part of the initial core team for the “How to Earn a Six Figure Income as  Spokesperson,” then send us an email at assistant@elliekay.com or fill out the contact form.

The PR firm will present anywhere from 3 to 5 different spokespersons to a client as either part of an existing contract (that they’ve already negotiated and secured) or a pitch contract (where they are trying to get business with the client.) Obviously, a secured contract will be more likely to end in a contract for the spokesperson than a pitch contract.

 

Step 4: The Negotiation

After the PR folks have taken your name to pitch to the client, the client may ask for a meeting with you (this only happens about 20% of the time) so that they can decide for themselves. Or, they’ve trusted the PR person, reviewed your media kit and believe you are a good fit.

This step is the reason I decided to become a spokesperson agent because this is the step where brands take advantage of the spokesperson. PR firms are in the business of getting the best value for their client and you can’t blame them for that. But it also means that they try to get the brand ambassador to do more work than they proposed in step 3.  Don’t be afraid of a negotiation, but do be prepared so that you can make the most of the deal that is being discussed.

Action Step:  Read up on how to become a better negotiator, so that you can handle this step if you are representing your own contracts.

 

Step 5:  The Contract

Once you’ve navigated the negotiation, then it’s time to go to contract. Hopefully, you’ll be chosen as the brand ambassador to represent the product, company or goods and services. Be sure you have a professional review the contract and understand that someone who may manage a brand ambassador may not be familiar with the pitfalls of a spokesperson / brand ambassador contract. You don’t know what you don’t know. But making sure that there are NO additional deliverables or restrictions that weren’t disclosed in the negotiation is a basic part of handling the contract. Recently, I was sent a contract on one of my existing clients and it was for a company that we had already signed a half dozen contracts with in the past. To my surprise, there were actually $180,000 in additional deliverables or exclusivity stipulations that they tried to sneak by us in the contract!

Action Item:  Hire a professional to read your contract or partner with a spokesperson agency that can guide you through the sticky wickets of the contract.

 

Coming up next week:

 

We will discuss and define specific deliverables as well as legal disclosures that the FTC requires for all brand ambassadors in order to be in compliance.

 

 

Mother’s Day and Working Mom’s – What Is Your Time Worth?

When I married my husband we had five babies in seven years and moved eleven times in thirteen years. I also had two stepdaughters for a total of 7 children to support. I left a nice job as a broker to have a more rewarding career as a SAHM (stay at home mom). One of the questions that I frequently heard was: “Do you work?”

“What do you mean do I work?” I would think even though I politely answered, “Yes, I work very hard as a stay at home mom.” Sometimes, an unsuspecting troglodyte would go on to say something totally thoughtless such as “Well, I meant do you really work. Do you have a job?”

I would bite my tongue until it bled….

What I wanted to say was, “What do you mean do I really work? I work a heck of a lot harder that you do, mister! I’m an accountant, a contract administrator, a chauffeur, a teacher, a nurse, a soccer mom, a stylist, a wife, and a chef! Plus ten other job specialties! I do all these things as a mom—I’M A CEO MOM, MISTER!”

They usually didn’t ask the same question twice.

These days, as a financial writer & speaker, the Founder of Heroes at Home, podcast co-host at The Money Millhouse, a Admissions Liaison Officer, —and a mom, I’ve talked with scores of spouses who work outside the home because of the status of our economy and by necessity–not choice.

Each year, Salary.com issues a report on what a mom’s time is really worth. According to this site, “Based on a survey of more than 40,000 mothers, Salary.com determined that the time mothers spend performing 10 typical job functions would equate to an annual salary of $112,962 for a stay-at-home mom.  That’s a lot of worth associated with this great job of motherhood!

What is your time worth? You can log into a calculator that tells you what you would be paid on the economy for all the work you do as a SAHM or as a mom who also works outside the home and inside the home!

How effective is the mom’s work outside the home? Does it pay to work in today’s economy with rising prices and a modest hourly wage? Many spouses who move frequently do not often have the luxury of annual pay raises at the same company. For example, let’s look at Jennifer.

Jennifer was an administrative assistant who needed to work outside the home to make ends meet. She made an average wage of $9.50 per hour and felt she contributed greatly to the family’s finances. She only had one child in day care, traveled a short distance to work, and paid no state income taxes. Then Jennifer attended one of my Living Rich for Less seminars and was challenged with the idea of “crunching the numbers.” She completed the “Working Mom’s Compensation Chart” and was shocked.

The amazing fact Jennifer discovered was, by working full time–she was making $3 per week! She didn’t realize how those extra pizza nights (because she was too tired to cook), and the trips to the beauty salon (to maintain a professional hairstyle), and all those lunches (away from home) added up! She realized she needed to make some dramatic adjustments. She decided there was a better use of her energy and quit her job outside the home.

But Jennifer didn’t stop there. She implemented some money savings strategies found on this blog and is making ends meet at home. She has less stress in her life and the freedom to contribute to her family’s financial needs through saving money and by launching her own homebased writing business. In her case, a penny saved was more than a penny earned.

For more info on how to  plan for  a new baby,

listen to The Money Millhouse  episode with Tonya Rapley  

Once you come up with a figure, ask the big question. Is my time, energy and effort worth ______ dollars a week? It may be worth it and that’s great for you if it’s your choice.

Whether you are a SAHM or a mom who works outside the home—you’re work is priceless in terms of all you do for your family and for others. You deserve a Happy Mother’s Day! Thanks for your hard work, you’re leaving a legacy through your children that will last for decades to come.

Ellie Kay

America’s Family Financial Expert (R)

The $425,000 Interview – 15 Minutes To A Million Dollar Life

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I looked at the young man in a new suit, tie that his dad probably knotted and a fresh haircut. He was sweating at the temples and clearly nervous as he faced down eight interviewers gathered in the Congressman’s office.

“If you could be Disney Princess, what would it be?”

The red blush began in his neck and traveled up his entire face as you watched the wheels turn frantically in his brain.

“If I could be any kind of Disney princess…it would have to be…Mulan.”

His embarrassment began to fade as his face lit up with an idea.

“Because Mulan was a warrior and she will willing to lay down her life for those she loved and wanted to protect.”

He smiled, his nervousness now gone, “In much the same way, I want to go to the United States Air Force Academy and serve my country.  America has been a land that gave my family an opportunity for education and to build a great life for our family. I want to give back to the country who gave so much to my family.”

As a member of an All Academies Congressional Admissions Panel, I’m a part of a team of qualified community leaders who interview students who have applied to a service academy. I’ve also written a three part blog for those who are interested in going to these prestigious institutions of higher learning. In fact, this time of year is when most of these nomination packages are due at Congressional offices.

This particular student learned, in his interview prep, that he could buy time in an interview by beginning his answer in a compete sentence. This technique gave his brain a chance to come up with an answer. We interviewed 50 students for last year’s panel, in one day, from 7:00 AM to 9:00 PM. Then we racked and stacked them based on their nomination packages and the interview.

The appointments to the Naval Academy, Merchant Marine Academy, West Point and the Air Force Academy are valued at approximately 425K. These go to the best and brightest young people in our nation who will be future officers and lead our military. They will pay back the cost of their education in five years of military service. So their education isn’t exactly “free” since most college grads don’t have to put their life on the line to pay back their education costs.

That “Disney Princess” question was a real question put to students from a different Congressional panel. It was designed to see how they could think creatively and react to an odd-ball question. The young man in this story is real and so is his answer. He is now at the Air Force Academy living his dream to one day fly and fight for his country. When he graduates and goes to pilot training, he will have close to a million dollars invested in his many years of training. So that interview question was one that led to his million dollar life!

Are you or someone you know preparing for a big interview in the near future? The key is preparation by rehearsing common and uncommon questions and gaining confidence in your ability to maintain eye contact, think on your feet, and communicate the real you to those who are conducting the interview. For those preparing for a service academy interview, feel free to email us and ask for the “Mock Interview Questions.”

 In the Kay household, our kids were naturally prepared for grilling questions thanks to the habit of asking them about their day every evening at dinner.

“What was a problem you solved today?”

“How did you make someone laugh today?

“What was the best part of your day?”

They were obviously more forthcoming some days than others, but the habit made it more natural for them to talk about their experiences. This easily translates to job interviews and even college or congressional interviews, where interview panels ask both conventional and unconventional questions.

You have probably already heard about the most common questions, such as ones pertaining to your history, why you’re interested and your strengths and weaknesses. But every now and then, you’ll get a common question disguised as an uncommon one. Here are five of them:

1. “What was your best MacGyver moment?”

When an interviewer asks a question similar to this, they’re really looking for examples of your adaptability and resourcefulness. Have you ever had any unconventional homework assignments or projects where you didn’t have common resources? This is a good time to talk about them.

2. “How many employees does it take to screw in a light bulb?”

This is a unique way to see where you stand on being a team player and if you have problem-solving skills. Most careers have a fair amount of group projects, so interviewers want to see if you’re a lone wolf (“Just one. Me.”) or if you can work with others (“As many as it takes to do it efficiently.”)

3. “What is our receptionist’s name?”

This could also be a question about something or someone else in the building. The interviewer is looking to see if you’re observant, paying attention and have a good memory. Just be aware of your surroundings and you’ll be prepared for this question.

4. “If you were in the NBA, what position would you play?”

Believe it or not, you don’t have to follow sports to answer this question correctly. The interviewer simply wants to know if you’re a leader or team player and ready to contribute immediately. Focus on answers that show off your willingness to do anything for the team/company.

5. “If you could have dinner with anyone in history, who would it be?”

This is a good opportunity to talk about a variety of things, from your hobbies to who you value. It can be a current or past figure, but should be someone you truly admire. This is a great way for you to relate to the interviewer and ease any tension or awkwardness.

Again, these specific questions are rare, but if you’re prepared to talk about things like your resourcefulness, leadership abilities and interests, you’ll be ready to answer them. A good starting point would be to look at lists of the most common questions and rephrasing them in a unique way. It can be fun and a great way to prepare for your first job interview.

What are some of YOUR favorite interview questions?

 

Lean Body, Fat Wallet: The Health and Wealth Connection

I’m announcing, in this blog, my new upcoming release with friend Danna Demetre!

What would you do if you finally lost all that excess weight and had energy to burn?  How different would your life be if you were completely out of debt and in control of your finances? And what if you could do both at the same time with just few simple lifestyle changes?

Those were some of the questions we wanted to answer when I wrote this book with Danna Demetre. In the interest of full disclosure, there were other reasons I wanted to pen this work as well. One of them was because it was a good excuse to spend time in Danna’s lovely San Diego home doing the writing (and drinking beverages from Italy)! Plus my hubby likes her hubby, Lew (except when the West Point grad takes on the Air Force Academy grad and they engage in a death-match-war-of-the-words to see whose academy is superior.) It also meant that I only had to write ½ of a book instead of a whole book.  Don’t laugh, this is a very important reason I engaged in this project.  In fact, my literary agent, Steve Laube, says, “Ellie you are the kind of author who likes to have written books.”  So what’s your point, Steve?

Even though Danna and I are experts from two seemingly different fields – finance and fitness,  in our new book, Lean Body, Fat Wallet, we let readers in on a remarkable discovery – the habits that are good for your wallet are equally good for your body. The principles that help you stick to a budget are the same ones that help you eat better, lose weight and keep it off.

The simple and practical teaching in this “two for one” bargain of a book will help you put those principles and habits to work using an innovative approach to improving both your wealth and your health.  Lean Body, Fat Wallet, includes real life stories of failure and success readers will identify with and draw inspiration from. It also links common issues of health and money, such as balancing a budget along with a diet and how overspending relates to overeating.

Here’s just a sampling of what you’ll find in Lean Body, Fat Wallet:

  • Four essential habits for satisfying, sustainable change and how to make them part of your life
  • Ten “failure factors” that trip us up and how to steer clear of them
  • Proven strategies to overcome emotional eating and spending
  • A wealth of stress busters that don’t rely on food or money
  • A game plan for raising fit and frugal kids

We also offer a tool kit of charts to track your accomplishments and a recap menu that allows readers to easily navigate each chapter and pick out specific sections relevant to current needs.

Here’s a list of reasons people fail to develop that Lean Body, Fat Wallet we will give you ways to overcome these:

Top Ten Failure Factors

  1. Set unrealistic goals ­
  2. Motivated by the wrong motives
  3. Believed failure was inevitable
  4. Fulfilled the need for immediate gratification too often
  5. Influenced unduly by other people
  6. Practiced a “deprivation mentality”  – all or nothing/black or white
  7. Rationalized and made excuses rather than taking responsibility
  8. Displaced emotional issues through overspending and overeating
  9. Procrastinated rather than taking action
  10. Lacked the tools to make compounding incremental change

Through this book you, too, can discover a new way to approach your financial and physical challenges. Join Danna and I on this amazing journey and at the end of the road, you’ll develop your very own lean body and fat wallet!

Pre-order the book and we’ll send you a special surprise!

What would YOU rather have, a Lean Body or a Fat Wallet?

 

(Un)Common Interview Questions

 

With graduations upon us, it’s a natural time to start preparing for job interviews.  At 7.5%, the unemployment rate is at its lowest level since 2008, so opportunities are out there. In the Kay household, our kids were naturally prepared for grilling questions thanks to our habit of asking them about their day every evening at dinner.

“What was something good about your day?”

“What did you do at school?”

“What was the best part of your day?”

They were obviously more forthcoming some days than others, but the habit made it more natural for them to talk about their experiences. This easily translates to job interviews, where prospective employers ask both conventional and unconventional questions.

You have probably already heard about the most common questions, such as ones pertaining to your history, why you’re interested and your strengths and weaknesses. But every now and then, you’ll get a common question disguised as an uncommon one. Here are five of them:

1. “What was your best MacGyver moment?”

When an interviewer asks a question similar to this, they’re really looking for examples of your adaptability and resourcefulness. Have you ever had any unconventional homework assignments or projects where you didn’t have common resources? This is a good time to talk about them.

2. “How many employees does it take to screw in a light bulb?”

This is a unique way to see where you stand on being a team player and if you have problem-solving skills. Most careers have a fair amount of group projects, so interviewers want to see if you’re a lone wolf (“Just one. Me.”) or if you can work with others (“As many as it takes to do it efficiently.”)

3. “What is our receptionist’s name?”

This could also be a question about something or someone else in the building. The interviewer is looking to see if you’re observant, paying attention and have a good memory. Just be aware of your surroundings and you’ll be prepared for this question.

4. “If you were in the NBA, what position would you play?”

Believe it or not, you don’t have to follow sports to answer this question correctly. The interviewer simply wants to know if you’re a leader or team player and ready to contribute immediately. Focus on answers that show off your willingness to do anything for the team/company.

5. “If you could have dinner with anyone in history, who would it be?”

This is a good opportunity to talk about a variety of things, from your hobbies to who you value. It can be a current or past figure, but should be someone you truly admire. This is a great way for you to relate to the interviewer and ease any tension or awkwardness.

Again, these specific questions are rare, but if you’re prepared to talk about things like your resourcefulness, leadership abilities and interests, you’ll be ready to answer them. A good starting point would be to look at lists of the most common questions and rephrasing them in a unique way. It can be fun and a great way to prepare for your first job interview.

What are some of YOUR favorite interview questions? Be sure to send this blog to your favorite college grad who might be looking for that dream job (or any job).

Ellie Kay

America’s Family Financial Expert (R)

Mother’s Day and Working Mom’s – What Is Your Time Worth?

When I married my husband we had five babies in seven years and moved eleven times in thirteen years. I also had two stepdaughters for a total of 7 children to support. I left a nice job as a broker to have a more rewarding career as a SAHM (stay at home mom). One of the questions that I frequently heard was: Do you work?“What do you mean do I work?” I would think even though I politely answered, “Yes, I work very hard as a stay at home mom.” Sometimes, an unsuspecting troglodyte would go on to say something totally thoughtless such as “Well, I meant do you really work. Do you have a job?”

I would bite my tongue until it bled….

What I wanted to say was, “What do you mean do I really work? I work a heck of a lot harder that you do, mister! I’m an accountant, a contract administrator, a chauffeur, a nurse, a soccer mom, a stylist, a wife, and a chef! Plus ten other job specialties! I do all these things as a mom—I’M A CEO MOM, MISTER!”

They usually didn’t ask the same question twice.

These days, as a financial writer and speaker—and a mom, I’ve talked with scores of spouses who work outside the home because of the status of our economy and by necessity–not choice.

Each year, Salary.com issues a report on what a mom’s time is really worth. According to this site, “Based on a survey of more than 40,000 mothers, Salary.com determined that the time mothers spend performing 10 typical job functions would equate to an annual salary of $138,095 for a stay-at-home mom. Working moms ‘at-home’ salary is $85,939 in 2010; this is in addition to the salary they earn in the workplace.” That’s a lot of worth associated with this great job of motherhood!

What is your time worth? You can log into a calculator that tells you what you would be paid on the economy for all the work you do as a SAHM or as a mom who also works outside the home and inside the home!

How effective is the mom’s work outside the home? Does it pay to work in today’s economy with rising prices and a modest hourly wage? Many spouses who move frequently do not often have the luxury of annual pay raises at the same company. For example, let’s look at Jennifer.

Jennifer was an administrative assistant who needed to work outside the home to make ends meet. She made an average wage of $8.50 per hour and felt she contributed greatly to the family’s finances. She only had one child in day care, traveled a short distance to work, and paid no state income taxes. Then Jennifer attended one of my Living Rich for Less seminars and was challenged with the idea of “crunching the numbers.” She completed our “Working Mom’s Compensation Chart” and was shocked. The online version of this is a one income calculator .

The amazing fact Jennifer discovered was, by working full time–she was making $3 per week! She didn’t realize how those extra pizza nights (because she was too tired to cook), and the trips to the beauty salon (to maintain a professional hairstyle), and all those lunches (away from home) added up! She realized she needed to make some dramatic adjustments. She decided there was a better use of her energy and quit her job outside the home.

But Jennifer didn’t stop there. She implemented some money savings strategies found on this blog and is making ends meet at home. She has less stress in her life and the freedom to contribute to her family’s financial needs through saving money and by launching her own homebased writing business. In her case, a penny saved was more than a penny earned.

For a working mom’s work chart, just email assistant@elliekay.com and tell us you read about this resource in the blog, we’ll email it to your for free. 

Once you come up with a figure, ask the big question. Is my time, energy and effort worth ______ dollars a week? You’ll be surprised at how painless it is to cut back and save your family a significant amount of money. It’s not magic, it requires work and dedication. After all, not all compensation is measured in dollars and cents.

On the other hand, you might discover that it is worth it and that’s still a great choice—one that works for you and your family!

Whether you are a SAHM or a mom who works outside the home—you’re work is priceless in terms of all you do for your family and for others. You deserve a Happy Mother’s Day! Thanks for your hard work, you’re leaving a legacy through your children that will last for decades to come.

Ellie Kay

America’s Family Financial Expert (R)