Agents and business managers advise writers, performers, and athletes on business details.
In the 1996 movie "Jerry Maguire," Tom Cruise plays a sports agent who suddenly realizes that people should be treated better. He tries to make this change in his company, but instead his career suffers drastically. He has only one loyal client, a football athlete played by Cuba Gooding, Jr. (Remember the line, "Show me the money!"?) In most cases, agents tend to stay behind the scenes, quietly overseeing their clients' contracts and affairs. However, this movie put the agent in the spotlight.
In general, agents promote clients, and business managers handle clients' business affairs. However, some agents and business managers do both. The amount of work agents and business managers do for their clients varies. Some agents represent clients only when needed. For example, they may advise them when they sign contracts. Other agents may handle all parts of a client's career for many years. Agents try to improve the performance of their clients. They may hire or recommend trainers or coaches who will work with clients.
To promote their clients, agents approach publishers, producers, or recruiters. Agents try to convince these people to hire or sign their clients to contracts. When a proposal is offered, agents negotiate the terms of the contract. This includes how much their client will be paid and the length of the contract. Agents also schedule promotional events, such as appearances on TV shows. In addition, agents create and distribute promotional materials about clients.
Agents must be able to recognize talent and know how to promote it. They continuously look for new clients and ways to help their current ones. Many agents specialize in a particular type of talent, such as athletes, writers, or actors. This specialty determines how agents seek new clients. Some agents review tapes of games, while others read manuscripts or audition talent. Agents may interview potential clients before agreeing to represent them.
Business managers handle all of a client's business affairs. They arrange hotel rooms and transportation for clients who travel often. They also schedule performances, collect payments, and pay bills. Business managers perform or arrange for services such as accounting, investing, and legal representation. They also prepare accounting statements for clients about their finances.
Some agents and business managers also perform many of the tasks of personal assistants. They accompany clients when they travel and act as companions. They also make reservations for dining and entertainment and give advice on performances.
One of the most important things an agent or business manager does is to collect fees, commissions, or other payments. For example, if an agent gets paid 15% of a client's book deal, the agent will collect that amount, withdraw taxes, keep records, and cut a check to the author.