The speaker stresses the significance of dedicated practice time in improving public speaking skills. He mentions Malcolm Gladwell's book "Outliers", which suggests that approximately 10,000 hours of practice are required to attain excellence in any field. To improve speaking skills, he suggests devoting three minutes every day over the next ten days to record an explanation of a product, CV, vision, or value to share with a child. He highlights the importance of making the decision that speaking is important, committing to consistent practice, and utilizing video feedback. He compares public speaking practice to practicing for 10,000 hours to master a skill and warns about wasting time if one is not fully committed to the practice.