Do your homework
Before you go to cover the speech, you must do your homework. Try to accumulate as much information as you can about the topic of the speech and the person who is going to deliver it. You should go through the background of the speaker and the reason for the speech. Homework will go a long way in helping you write a brilliant news story on a speech.
Some editors like to have the background copy, which includes the above mentioned information. Write the background copy even before the speech begins to save yourself some time.
When the speech begins, you should turn on your sound recorder, if you have one, and keep a pen and a paper handy. Take notes of the speech. Keep in mind that the more thorough your notes are, the greater chance you have to file a good news story. You should also have the sense to identify a good quote. An experienced reporter comes up with a headline as he/she makes notes.
While covering a speech, you must not forget the audience. Watch out for important personalities in the crowd. Once the speech is finished, you should meet the audience and get a little feedback on the event.
Be objective and avoid your personal opinion
A journalist cannot afford to be biased, especially while writing a news story. Be objective and neutral. You must remember that there is no room for opinion in a news story. You should focus only on covering the facts and delivering them to your readers.