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March 23, 2010

What a Talent Manager is looking for – Part 2

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In an earlier post, I started the conversation about what managers are looking for when meeting with potential clients. In that post I identified that choosing new clients is a process and the first step in that process is always to ask the question “is there value to the artist in having a manager?” To recap this quickly:

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The first thing I am trying to assess is whether you paying a manager (usually 15% of your gross income) is worth it for you. If I can’t see a way to increase your gross earnings by at least 15% in a reasonable amount of time, then there is NO VALUE for you in having me as your Manager.

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Some examples of where I can see value for you in working me would be:

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• I think we can increase your pricing by 50% (you’d be surprised how often acts are under-charging for themselves)

• I think you’re playing in the wrong venues and we can take steps towards venues with a higher payout

• I believe that you are missing a niche marketplace in the entertainment world (e.g. corporate gigs, colleges, cruise ships) and I think I can help you tap into it.

• You’re so busy managing your business that it is actually costing you money as you’re focus is being pulled in too many directions.

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If I am able to assess that there is some value for you in having a manager, the next thing I’m trying to determine is whether or not this is a project that fits with where I see my own personal business going. In other words, what is the value for me? Don’t make the mistake of thinking this is a simple money conversation. Money is a factor of course, but value for me is determined by a variety of different factors. Here are a few of the questions that I will be asking myself:

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• Does this project fit with my business’ current short term and long term goals?

• Will this project allow me to expand my network in new and interesting ways for me?

• Will the amount of time I need to put into this project be worth the potential financial rewards within a reasonable amount of time?

• Do I have a list of contacts that could easily be helpful to this project in order to jump start it?

• Does success with this project lead to other projects that will be interesting to me?

• Am I good enough at the things this projects need me to be good at?

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It is important (really important) for performers who are seeking out agents and managers to really understand what the other side is looking for and more importantly, they should be aware of the things that agents and managers are evaluating to determine whether working with you makes sense.

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Spend time trying to find out what motivates the people you’re sitting across from. Ask about their clients. Ask them about projects that have them excited. Ask questions about how they got a particular client a specific gig. It won’t take you long to figure out that person’s motivations and what they like to look for in their clients. Use this information to find someone that is as motivated by your career as you are – don’t you deserve that?

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- Justin Sudds – gigsmacked.com

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