My people, I’m super excited and you’re never going to
believe it, but I was finally able to catch up to one of the busiest managers
in the business for a quick interview.
He’s been in the industry for twenty-four years. He is and has worked with some of the hottest
artists in the game managing their tours, logistics and overall best interests
and is constantly on the move, which is what makes this interview so special. Because of his prominence, he’s asked that I
not name him, so we’re going to call him Artist Manager or “AM”.
He actually took a moment to spend with me today talking
about the fine art of negotiation or what I like to call, getting to the sweet
spot. The entertainment industry can be
a rough and tumble place and if your negotiation skills are not on par and well
developed, you risk losing some very important elements vital to the success of
your client’s career. So if you are
currently or are considering artist management in any capacity, this interview
is for you. If you’re an artist seeking
management, you want to hear how a seasoned and experienced manager in the game
negotiates on behalf of his clients so you can identify a good manager of your own.
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| Source: www.salestrainingconsultants.com |
LR: In your experience, what are some of the most
important things a manager negotiates on behalf of the artist they represent?
AM: It all depends on what we’re negotiating
for. If we’re talking about albums then
the negotiation is all about the points or percentages because that equates to
your artists income and revenue. If it
relates to touring you will negotiate the guarantee or how much the artist will
make for a performance. Also if it sells
out, you want to negotiate an additional percentage, and also negotiate how
much time the artist has to spend on stage. Also, if they are appearing on a
show with multiple artists, you will want to negotiate their arrangement in the
line-up based on number of albums sold and their current popularity and the
songs they have in rotation at the time. If it’s magazines, you want your
artists featured in the magazine with a prominent position like a front cover
or the best possible positioning.
LR: Given that you’re so connected to your
client, how do you work to understand the motivations of everyone involved in a
negotiation and use that information to create a winning solution for everyone?
AM: Compromise is the key. You have to be willing to compromise without
losing yourself or your position. First
of course you’re looking out for the artist because if you do that the artist
will be happy and will look out for the team overall and that helps create a
win for everybody. It’s a fine line when
you’re dealing with people outside of your team, but thinking about the long
term benefits helps. Don’t stay focused
on the short term because that can create a loss all around.
LR: Do you find that due to your closeness to
your client or other business associates, sometimes it might be hard to take
the people out of the negotiation and only focus on the topic at hand? How have you been able to do that?
AM: Yes that can
be hard. It’s hard to separate business
and people but you try your best and learn from previous situations. I have been able to do it, but that’s usually
when I focus on trying to do the right thing for everyone involved. Even if my artist doesn’t agree upfront they
understand what I’m trying to accomplish on their behalf and will often go
along. Ultimately, that’s about
trust. You have to work to build their
trust and they have to feel you’re the right person in place to handle their
affairs. Once you establish that, it’s a
win and makes this part much easier.
LR: Can you describe for me what are the most
challenging negotiations you have experienced and why it was so
challenging? How did you deal with that
and were you able to come to a winning solution?
AM: Performance fees are the most challenging
because sometimes the artists want more than the promoter is willing to
pay. It’s difficult because the promoter
may feel like your artist isn’t worth the amount you’re asking. You have to find a happy medium but sometimes
you have to really sell the artist to the promoter by convincing them based on
prior information, like how much the artist has been paid for other
performances or how relevant they are in the industry at the time, how many
songs they have that are current and their overall book of music. You have to convince them of the value because
when they see how good the show will be, they are more willing to pay the
amount we’re asking for.
LR: So what would you say is your negotiation
style? Are you more openly forceful or
more of an iron fist in a velvet glove approach where they don’t really see you
coming?
AM: Depends on the situation and what’s up for
negotiation. You don’t want to be
overbearing and lose the person, so you want to find the right spot. In situations where I’m more forceful would
be where I’m pushing harder for a performance fee because someone doesn’t see
the value in my artist. Sometimes I take
that more personal, even if I shouldn’t but I do become more forceful when my
emotions get involved. I do think though
that it’s better to keep my emotions out of it, because if I don’t, then the
other person’s emotions get involved and the conversation can get really heated. Fortunately, I’ve never damaged any
relationships like that though. In the
end, we were able to shake and be ok.
LR: Have you ever experienced a situation where
you were not the most powerful seat at the table? In other words, your counterpart really was
the one holding the cards? How did you
deal with that and what was the outcome of that negotiation?
AM: Yes, but you
have to be confident and secure and feel you can handle anything. Even though they might be higher up, you have
to hold your own. Respect their
position, but know you can still get what you want and ask for it.
LR: Last question because I know how valuable
your time is. What do you think makes
you a great negotiator?
AM: Years of experience and knowledge of the
industry has helped me a lot. Also
learning from my own past mistakes and those of others and having a great
mentor and teacher really helped me develop the skills. Also, it doesn’t hurt that I’m not afraid to
ask for what I want. I am able to find
what works in the situation for everyone, even though primarily I am in the
game to get to win for my artist but I can see and articulate the benefits to
all sides and bring that to the table.
Everyone walks away winning and that makes everyone happy.
I really appreciate your time today, I know I’m catching you
in the middle of studio time, so thank you again and I wish you success on your
upcoming projects.
Ok, so I don’t know about you, but that was really helpful
for me. It’s great to hear about how
passionate and dedicated a manager can be in negotiating the interests of their
artists. Food for thought for my
independent artists would be did this help you think about how you negotiate
for yourself? How can you implement
these same strategies in making sure your interests are covered? I’ll leave you with that and remember these
are just my thoughts and I’d love to hear yours.
Until then, do you and creatively mind your business.
Peace…
LR
