How Do You Properly Value Your Client?
Being a sports agent is no easy task. You must split your time between checking in on current clients, recruiting potential future clients, and then working your ass off to keep your current clients happy (by signing them to endorsement deals, getting them free merchandise, negotiating large contracts with their teams, etc.). But how should you go about showing a team that your client is the guy that they want and that they should be spending top dollars to acquire his services?
This post could really be made into a two hundred page book, but instead, I will try to narrow the issue down to a few bullet points and allow you all to expand on it in the comments section.
Here are a few things you should be focused on when doing research prior to entering a contractual negotiation:
- What is the market value of your client?
- What are his weaknesses?
- What are his particular strengths?
- You better believe that the weaknesses will be brought up by the other side. You should definitely prepare for those arguments and have counter-arguments available.
- What is your client’s market looking like?
- Is it increasing in size?
- Is there more money being spent overall?
- Are bottom end salaries rising?
- Are top end salaries rising?
- What are similar situated athletes getting paid?
- How are you comparing and contrasting the “similar” players?
- Are the stats and tools you are using to compare up-to-date with the current trends?
- Will the other side care about those particular stats and tools?
- What type of personality does your client have?
- Is he very outgoing?
- Does he show up in a lot of commercials?
- Will he expand the team’s brand?
- Will he detract from the team’s brand by showing up in Nightmare Clients of the Week?
- Has your client peaked or is he still peaking?
- What is his age?
- Are his numbers getting better as he gets older?
- What do scouts say about his potential?
- What type of contracts have been handed out by the particular team that you are in negotiation with?
- What are your client’s priorities?
- You need your client to commit to your negotiation plan. If he wants to be in a particular town, for instance, his bargaining value may go down.
Believe me when I say that this is only the tip of the iceberg when it comes to things you should be researching before entering into a contractual negotiation on behalf of your client. I believe it is a good start, however. I would like to continue to add and subtract from this list. Please leave your comments below. If you feel uncomfortable doing so, you can always e-mail me.