Thursday, October 14, 2010

Project Management for an Agent (Recruiting)

Recruiting athletes is the most important project for an agent.  If I cannot sign athletes, it does not matter how well I can represent them.  Just like an event company submits a proposal to put on an event, an agent is proposing to an athlete to be his representation.  This process requires everything needed in a project’s management such as planning, budgeting, teamwork and satisfying customers.
The recruiting project begins with a plan and a schedule. First, you have to decide on your targets. Jack Bechta, whom I will be citing throughout this post, prefers only to go after a few players (Bechta).  I have personally known other agents who will utilize new media to contact a mass amount of athletes, and keeping up with those who respond.
To better understand the recruitment strategy, it is important to look at the whole schedule first:
August- College football begins
November- College football regular season ends, seniors not going to a bowl game can sign with agents
January- After bowl games all seniors can sign
February- NFL Combine (where seniors perform for NFL scouts)
March- College Pro Days (Dates)
April- NFL Draft
Many student-athletes have narrowed down their agent decision by the end of the regular season (Bechta).  While you do not want to distract a player during the season, it is important to establish contact early on so you will be in the running come decision time.  In most cases, including my experience, the process begins prior to the start of the season in August.  This is a great time to contact the player before their season starts. It is against NCAA rules to agree to representation before the the student-athlete’s final game (including bowls), but you can talk to them.
The next milestone in the recruiting project is attempting to sign the athlete.  This begins around Thanksgiving if they are not headed to a bowl game.  Agent Jack Bechta has not had a Thanksgiving since 1994 because of business (Bechta).  
Determining location and pitch are important points of strategy in recruitment. Visiting the player in his hometown, and perhaps in his home, can go a long way in making him feel important and comfortable.  However, if your agency is located in a big city it may be more beneficial to fly the player to you and court him with the big city experience. (Bechta)

Once a player is signed an agent puts him in training and preparation for the NFL Combine, pro-day and draft.  Choosing where to train your players is just another part of the strategic planning process.  His performance in the combine can affect where he is drafted, resulting in millions of dollars.
Another phase of project management in recruiting is budgeting.  This is one of the largest barriers of entry into the agent business.  The average cost an agent accrues is between $15,000- $20,000 per player (Bechta).  Keep in mind this is before the player even has an NFL contract.  An agent must view it as an investment. In addition to training, an agent has to pay for housing, transportation, food, supplements, equipment and training gear. Here are some rough figures of basic expenses from my experience:
State License- $1,200 (Florida) (bi-annual)
NFLPA License- $1,200 (annual)
NFLPA Application-$1,650 (one-time)
Insurance-$1,750 (annual)
Print & Media-$500-$1,000
 -Packets
 -Postage
 -etc...
Per Player
Training- $12,000 (6 weeks)
Travel-$1,000 (multiple trips)
Rental Car-$1,000
Food-$1,000
Equipment-$1,000
When preparing to embark on the recruiting process, it is important to view it as any other business project.  There needs to be a schedule, strategy and realistic budget. It is a large risk that requires patience for a return on investment, in which even the best project management can’t guarantee.
Jack Bechta Citations

Saturday, October 2, 2010

An Agent Must Be On a Good Team, Too






Teams excel when their athletes understand the importance of teamwork.  This is no different for agents.  In structuring your agency, teamwork allows you to be effective and serve your clients well.  This industry offers a lot of services to athletes and is extremely competitive.  Having a team with expertise in multiple disciplines not only gives you the ability to offer those services, but positions you against the competition.
The first thing that comes to mind when putting a team together in my industry is diversity.  I want to offer expertise and experience from multiple fields to my athletes.  This includes areas such as business, negotiation, media, public relations, marketing and health and nutrition.  This is a simple concept--the stronger the team is, the stronger the product or service being offered.
Having a diverse team does not necessarily require many employees.  In some cases, less team members can be the best choice if they are the right team members.  For example, Drew Rosenhaus is one of the most successful and notable NFL agents.  He has a team of 5 (www.rosenhaussports.com/staff.php).  Together they have developed one of the most successful agencies in sports.
There is another level to putting together a team that I believe is overlooked, and is not on a resume.  It is personality and strengths.  This is separate from your disciplines or education.  These type of things are more rooted in who you are and your make-up as a person.  My eyes were opened to this by a company called the Boosterthon Fun Run (http://boosterthon.com/).  They are a leadership development company that bring character programs and fundraising to schools.  I was thoroughly impressed with their hiring process where they put every candidate through three tests: Meyers Briggs (http://www.myersbriggs.org/), StrengthsFinder 2.0 (www.strengthsfinder.com) and Kolbe Index (http://www.kolbe.com/).  These tests reveal such things as how you work and process information and what your strengths are.  This information can be utilized to better understand teammates and effectively position within a company.
When I put my team together I plan to asses both their disciplines and experience along with their personality and strengths.
Lastly, practicing solid communication amongst your team is of vital importance.  In the agent business you are constantly having to communicate effectively with athletes, coaches, other agents, GM’s, team executives, scouts, marketers and decision-makers.  If you cannot communicate effectively within your own team, you will surely be unable to do so  outside of your team.  The key to this is information and consistency.  It is important for a team to meet consistently and be on the same page.  Information and understanding lead the way to effective communication.
I look forward to having my team help athletes succeed with theirs.