Agents and business managers advise writers, performers, and athletes on business details.
Agents promote clients, and business managers handle clients' business affairs. 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. Other agents may handle a client's career for many years.
Agents must be able to recognize talent. 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.
To promote their clients, agents approach publishers, producers, or recruiters. Agents work 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.
Business managers handle all of a client's business affairs. This includes:
- Arranging hotel rooms and transportation
- Scheduling performances
- Collecting payments
- Paying 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.