For professional athletes, especially those players who have spent their entire career with one team, the twilight phase of an on-field career can be especially challenging.
When does a player call it quits? When does a team cut him loose? What is the sports agent's role in the process?
In the not-so-distant future, Braves third baseman Chipper Jones will be faced with some decisions. Unlike some aging athletes, Jones is still a force at the corner and in the lineup. He will be 40 next season and in the final year of his extension, though existing options and incentives could extend his career through 2013.
Around the game, iconic superstars like Jones are inching closer to retirement.
In New York, core players like Yankees catcher Jorge Posada, closer Mariano Rivera and shortstop Derek Jeter aren't getting any younger. Meanwhile, Cooperstown-bound catcher Ivan Rodriguez and Boston slugger David Ortiz continue to chase career milestones.
All of these stars continue to answer questions about diminishing ability or, ultimately, retirement plans.
Though athletes rarely ever want to step away from competition, sports agents play an important role in preparing the athlete for that difficult transition to life after their last out.
We don't manage or invest players' money, but certainly players look to us for advice and introductions.
When negotiating what might be a player's last multiyear contract for one of the game's longtime stars, it's critical to push that contract into the twilight part of the athlete's career.
Both teams and agents have no shortage of statistical models available when deciding how to value a player past his prime. Attempting to protect the player's downside and emphasize the upside is our goal.
The first goal is protecting the player's base salary using such things as their statistics, longevity, clubhouse presence, ticket sales, jersey sales and community presence. Attempting to load performance bonuses like innings pitched, saves, All-Star game appearances, Cy Young awards, Gold Glove selections and plate appearances (or lack of these) also protects both sides to allow the player's health and performance to dictate upside earnings.
Perhaps more importantly, players pay agents to anticipate for them both on and off the field, court or course. Part of that entails planning for life after sports.
With legendary Braves pitcher John Smoltz, our strategy was to prepare him for a day when his arm couldn't handle a full season.
We want athletes to have post-career choices and to make a seamless transition into the next chapter of their lives. With Smoltz, we identified broadcasting as a potential platform for him years before his last pitch.
We arranged broadcasting opportunities during All-Star games and postseason games to give him a taste of the broadcasting industry and to expose his ability to potential employers.
We also examined opportunities on celebrity golf tours and professional tour events that worked with his schedule, to offer him exposure to professional golf.
Off the field, an agent must capture the uniqueness of an athlete's platform with marketing deals that can prove mutually beneficial to the brand and the athlete. With the onset of social technology, athletes can elongate their relevance as well as utilize platforms to monetize their brands for their own or their philanthropic benefits.
Take Atlanta Falcons tight end Tony Gonzalez, for example.
Gonzalez, an 11-time Pro Bowler, uses his website and Twitter following to expand and protect his brand. He's already authored a book on sports nutrition and owns a sports nutrition supplement company. In short, Gonzalez is well-prepared for the next steps in his career.
In today's world, it's critically important for athletes to take advantage of new media opportunities, social networking and any interactive tools that keep their brands sustainable and relevant.
As athletes approach the twilight of their careers there are many moving parts. Agents, players and their financial advisers need to work closely to anticipate years before the last out is recorded or the final buzzer sounds.
Saturday, January 29, 2011
Friday, January 7, 2011
When image is everything.
Whether we like it or not, our children look up to professional athletes as heroes and role models. Whether they mimic Chipper Jones during Little League games or beg to stay up late to watch Tony Gonzalez on "Monday Night Football, " children idolize their favorite sports heroes. Athletes' choices become their image, and their image becomes their brand.
Image is paramount for professional athletes. Image can significantly impact contract negotiations, media relationships and coverage, endorsements and post-career opportunities.
Think about the major sports icons of our time. Did they command respect from their teammates, coaches, fans and community? Did they honor their sport with dignity? Did they bring notoriety to their team, university, city?
Fair or not, sports stars in our culture are held to higher standards. And, right or wrong, many of them aren't ready. Some sports agents understand character and image are important. They focus on preserving and improving clients' images. Others work to sign clients who are anchored with a strong foundation of high character. One general manager once said, "A 19-year-old with two million [dollars] isn't necessarily a man."
This is so true. Teams and leagues can step in and help in that regard. But, it does not always work out as planned.
When Miami Heat star Le-Bron James made a calculated decision to "take my talents to South Beach, " it seemed the whole world turned on him overnight. Fans and media criticized his out-sized ego and lack of humility.
It was much worse for stars such as Tiger Woods and Steelers quarterback Ben Roethlisberger, whose personal indiscretions prompted media frenzies. The consequences for both athletes were real with sponsors leaving them.
And then there are athletes like former Falcons quarterback Michael Vick or former Giants wide receiver Plaxico Burress, whose poor judgment led to prison time.
Sometimes, an agent can help prevent the destruction of an athlete's image during a "crisis" by imposing some external discipline. To that end, my motto to my clients has always been "tell the truth, tell it fast and tell it yourself."
Woods failed at every turn. Instead of telling the truth, he lied --- to law enforcement, to advisers, to the media and ultimately, to his fans. Lying never works, period.
When he finally told the truth, he waited. And waited. It took days to issue an online apology crafted by a public relations team.
By using agents to craft his message and refusing to go before the public, Woods ignored the third principle of my motto. It took three months for Woods to approach the media and the public to take questions and tell the truth, in person.
Sometimes an agent will pass on athletes with "trouble potential" all together. If an agency sees character problems in a young but promising athlete, they may work with the athlete and his or her support network to alleviate those concerns. If the athlete is young, the agent might see if maturity will set in. If he is prone to outbursts, the agent might conduct media training. If finances present a big risk, the agent may work with a financial adviser or trusted family member to monitor and control the athlete's paychecks. Or the agent might just decide the player isn't better than the problems they present.
On the flip side, a lot of athletes seize the opportunity to build a better image. Many understand the uniqueness of their platform and want to maximize career opportunities. The single best way for an athlete to maximize those opportunities is to execute on the field and make responsible choices off the field. That will lead to a strong personal brand.
Agents and athletes work together to embrace philanthropic associations and community service organizations that matter to the athlete. Agents and athletes build relationships with members of the media. When the athlete has good news to share, those relationships will help to maximize the reach of that message. If something negative happens, the media will look to the athlete for direct, honest answers.
Relationships provide an important buffer for athletes. At the end of the day, it's human nature to cheer the winners who are humble and "get it."
There are reasons why athletes like former Braves pitcher John Smoltz, Ravens linebacker Michael Oher, Steelers safety Troy Polamalu, Twins catcher Joe Mauer and NBA star Grant Hill have household names. Each built a strong brand and reputation by taking advantage of their career, philanthropy and sponsorship opportunities.
Image is paramount for professional athletes. Image can significantly impact contract negotiations, media relationships and coverage, endorsements and post-career opportunities.
Think about the major sports icons of our time. Did they command respect from their teammates, coaches, fans and community? Did they honor their sport with dignity? Did they bring notoriety to their team, university, city?
Fair or not, sports stars in our culture are held to higher standards. And, right or wrong, many of them aren't ready. Some sports agents understand character and image are important. They focus on preserving and improving clients' images. Others work to sign clients who are anchored with a strong foundation of high character. One general manager once said, "A 19-year-old with two million [dollars] isn't necessarily a man."
This is so true. Teams and leagues can step in and help in that regard. But, it does not always work out as planned.
When Miami Heat star Le-Bron James made a calculated decision to "take my talents to South Beach, " it seemed the whole world turned on him overnight. Fans and media criticized his out-sized ego and lack of humility.
It was much worse for stars such as Tiger Woods and Steelers quarterback Ben Roethlisberger, whose personal indiscretions prompted media frenzies. The consequences for both athletes were real with sponsors leaving them.
And then there are athletes like former Falcons quarterback Michael Vick or former Giants wide receiver Plaxico Burress, whose poor judgment led to prison time.
Sometimes, an agent can help prevent the destruction of an athlete's image during a "crisis" by imposing some external discipline. To that end, my motto to my clients has always been "tell the truth, tell it fast and tell it yourself."
Woods failed at every turn. Instead of telling the truth, he lied --- to law enforcement, to advisers, to the media and ultimately, to his fans. Lying never works, period.
When he finally told the truth, he waited. And waited. It took days to issue an online apology crafted by a public relations team.
By using agents to craft his message and refusing to go before the public, Woods ignored the third principle of my motto. It took three months for Woods to approach the media and the public to take questions and tell the truth, in person.
Sometimes an agent will pass on athletes with "trouble potential" all together. If an agency sees character problems in a young but promising athlete, they may work with the athlete and his or her support network to alleviate those concerns. If the athlete is young, the agent might see if maturity will set in. If he is prone to outbursts, the agent might conduct media training. If finances present a big risk, the agent may work with a financial adviser or trusted family member to monitor and control the athlete's paychecks. Or the agent might just decide the player isn't better than the problems they present.
On the flip side, a lot of athletes seize the opportunity to build a better image. Many understand the uniqueness of their platform and want to maximize career opportunities. The single best way for an athlete to maximize those opportunities is to execute on the field and make responsible choices off the field. That will lead to a strong personal brand.
Agents and athletes work together to embrace philanthropic associations and community service organizations that matter to the athlete. Agents and athletes build relationships with members of the media. When the athlete has good news to share, those relationships will help to maximize the reach of that message. If something negative happens, the media will look to the athlete for direct, honest answers.
Relationships provide an important buffer for athletes. At the end of the day, it's human nature to cheer the winners who are humble and "get it."
There are reasons why athletes like former Braves pitcher John Smoltz, Ravens linebacker Michael Oher, Steelers safety Troy Polamalu, Twins catcher Joe Mauer and NBA star Grant Hill have household names. Each built a strong brand and reputation by taking advantage of their career, philanthropy and sponsorship opportunities.
Monday, July 12, 2010
When Adversity Strikes, What Do You Do?
Hello. I typically prefer posts that present the positives, particularly if it's about challenges. I thought this was interesting. Positive. And real. Embrace challenges - the best of the best do. Go for it.
When Adversity Strikes, What Do You Do?
"Hot" and "timeless." Those are the words last weekend's International Herald Tribune used to describe Greek statues. The same two words could be used to describe that other thing that makes the big difference for you — for any leader, team, or enterprise — resilience. Resilience is suddenly everywhere. And, by the end of this blog, it can upgrade the lens through which you view and lead both those around you and your life.
Flying London to San Francisco, I found the words "resilient," or "resilience" 13 times. And I was hardly trying. RESILIENT. The word stares down at you from the giant corporate ad board as you clear security at Heathrow. Not a bad theme for travel these days.
In the stores, I found "resilient" or "resilience" on woman's clothing labels, kid's toy packaging, sports gear, even a perfume bottle. While scouring five different publications on the flight, I found it describing everything from banished refugees, sport teams, financial markets and products, to leaders, children, communities, even drug lords and the Taliban. It's as if "resilient" has morphed from an adjective to the defining virtue.
So yes. Resilience is hot.
It's also timeless. All our core stories are about what happens when human beings and adversity collide. From those moments tragedies unravel and greatness is spawned. Adversity both destroys and elevates. It both strangles and sparks life.
What is your relationship with adversity? What role has it played in becoming who you are, in forging your essential character and mindset? How has it influenced your optimism, energy, opportunities, relationships, health, performance, capacity, and leaps of faith? Can you think of any force that has been more profoundly formative?
Here's just one relevant example as you ponder the role resiliency plays for yourself and your people. We at PEAK measured the resilience of 1,600 people in the UK to see how it stacked up against these factors: happiness, quality of life, exercise, diet, energy, optimism, engagement at work, sick days, and a broad range of health factors. Resilience was statistically significant in predicting not one or two, but all of these factors.
Through my past three decades of research on the subject, I've learned something shockingly simple: It comes down to one of two things. Over the course of your years, either adversity consumes you, or you consume it. Unfortunately, being consumed by adversity is far more common than truly consuming it.
Ready for a challenge? Rate yourself on this Adversity Continuum.
1.Avoiding Adversity — Do you ever postpone, delegate, ignore, or sidestep a difficulty that you could or should have taken on?
2.Surviving Adversity — Sometimes coming out alive is a major victory. But then life asks, "Now what?" or "What do we do now?"
3.Coping with Adversity — How much energy do you expend just keeping your head above water, or coping with your daily dose of adversity?
4.Managing Adversity — Beyond coping, how often do you at least do something positive with the adversity?
5.Harnessing Adversity — How often do you use the adversity to achieve gains you could never enjoy without it? How many moments do you have, when, like an alchemist you convert adversity into fuel that propels you to a place you could never get to without it?
I've surveyed more than 1,000 companies in 53 countries with these questions. And the sad truth is, most (70-90 percent) of the time, people do some combination of avoiding, surviving, and coping, meaning adversity is consuming them. About 10-30 percent of the time people will manage the adversity. Very rarely (five percent) do people and their enterprises truly harness it.
The ultimate state of zen-like resilience perfection is something I call, "Response Ability," which I define as, "Your ability to respond optimally to whatever happens the moment it strikes." That means naturally harnessing the force of adversity provides to fuel a deeply enriching and rewarding life. This is the highest aspiration.
How much does it matter? Beyond resilience, what other factor (outside of sheer luck!) could have a more profound effect on both your short and long-term success?
"Hot" and "timeless." Garden art may come and go, but adversity is not going away any time soon. It is the core human drama. It's the core of your drama, and if harnessed with superior resilience, it could be the fuel cell of your success.
Dr. Paul G. Stoltz is CEO of PEAK Learning, Inc., Chairman of the Global Resilience Institute, and the originator of the Adversity Quotient (AQ) theory and method, currently used within Harvard Business School's Executive Education program.
When Adversity Strikes, What Do You Do?
"Hot" and "timeless." Those are the words last weekend's International Herald Tribune used to describe Greek statues. The same two words could be used to describe that other thing that makes the big difference for you — for any leader, team, or enterprise — resilience. Resilience is suddenly everywhere. And, by the end of this blog, it can upgrade the lens through which you view and lead both those around you and your life.
Flying London to San Francisco, I found the words "resilient," or "resilience" 13 times. And I was hardly trying. RESILIENT. The word stares down at you from the giant corporate ad board as you clear security at Heathrow. Not a bad theme for travel these days.
In the stores, I found "resilient" or "resilience" on woman's clothing labels, kid's toy packaging, sports gear, even a perfume bottle. While scouring five different publications on the flight, I found it describing everything from banished refugees, sport teams, financial markets and products, to leaders, children, communities, even drug lords and the Taliban. It's as if "resilient" has morphed from an adjective to the defining virtue.
So yes. Resilience is hot.
It's also timeless. All our core stories are about what happens when human beings and adversity collide. From those moments tragedies unravel and greatness is spawned. Adversity both destroys and elevates. It both strangles and sparks life.
What is your relationship with adversity? What role has it played in becoming who you are, in forging your essential character and mindset? How has it influenced your optimism, energy, opportunities, relationships, health, performance, capacity, and leaps of faith? Can you think of any force that has been more profoundly formative?
Here's just one relevant example as you ponder the role resiliency plays for yourself and your people. We at PEAK measured the resilience of 1,600 people in the UK to see how it stacked up against these factors: happiness, quality of life, exercise, diet, energy, optimism, engagement at work, sick days, and a broad range of health factors. Resilience was statistically significant in predicting not one or two, but all of these factors.
Through my past three decades of research on the subject, I've learned something shockingly simple: It comes down to one of two things. Over the course of your years, either adversity consumes you, or you consume it. Unfortunately, being consumed by adversity is far more common than truly consuming it.
Ready for a challenge? Rate yourself on this Adversity Continuum.
1.Avoiding Adversity — Do you ever postpone, delegate, ignore, or sidestep a difficulty that you could or should have taken on?
2.Surviving Adversity — Sometimes coming out alive is a major victory. But then life asks, "Now what?" or "What do we do now?"
3.Coping with Adversity — How much energy do you expend just keeping your head above water, or coping with your daily dose of adversity?
4.Managing Adversity — Beyond coping, how often do you at least do something positive with the adversity?
5.Harnessing Adversity — How often do you use the adversity to achieve gains you could never enjoy without it? How many moments do you have, when, like an alchemist you convert adversity into fuel that propels you to a place you could never get to without it?
I've surveyed more than 1,000 companies in 53 countries with these questions. And the sad truth is, most (70-90 percent) of the time, people do some combination of avoiding, surviving, and coping, meaning adversity is consuming them. About 10-30 percent of the time people will manage the adversity. Very rarely (five percent) do people and their enterprises truly harness it.
The ultimate state of zen-like resilience perfection is something I call, "Response Ability," which I define as, "Your ability to respond optimally to whatever happens the moment it strikes." That means naturally harnessing the force of adversity provides to fuel a deeply enriching and rewarding life. This is the highest aspiration.
How much does it matter? Beyond resilience, what other factor (outside of sheer luck!) could have a more profound effect on both your short and long-term success?
"Hot" and "timeless." Garden art may come and go, but adversity is not going away any time soon. It is the core human drama. It's the core of your drama, and if harnessed with superior resilience, it could be the fuel cell of your success.
Dr. Paul G. Stoltz is CEO of PEAK Learning, Inc., Chairman of the Global Resilience Institute, and the originator of the Adversity Quotient (AQ) theory and method, currently used within Harvard Business School's Executive Education program.
Saturday, May 1, 2010
Curiosity can be more effective then defensiveness
A short post to encourage you to think of a particular moment during "critical conversations" in a slightly different way. When your natural instinct is to become defensive, I am asking you to try something, turn defensiveness into curiosity. Exactly what does that mean behaviorally? Attempt to better understand their position by asking questions. And then listen. There are plenty of things that can get in the way of executing this - like time and egos. However, when the moment is right - curiosity works better then defensiveness. At the most basic level, it encourages two way communication and the opposition feels heard. You may learn something. You may not. But, it builds more authentic relationships.
Often the tendency is to avoid difficult discussions all together - which doesn't work long term in truly authentic relationships. So, when you find yourself going into defensive mode in a relationship that matters to you. Turn defensiveness into curiosity. One small thought for you to utilize that produces positive discussion in critical moments. More soon...
Often the tendency is to avoid difficult discussions all together - which doesn't work long term in truly authentic relationships. So, when you find yourself going into defensive mode in a relationship that matters to you. Turn defensiveness into curiosity. One small thought for you to utilize that produces positive discussion in critical moments. More soon...
Tuesday, March 30, 2010
March Madness and The Dream of a Lifetime
I spoke with Lori Cates Hand this morning about Butler Basketball Coach Brad Stevens and his inspirational story - his exceptional leadership will be on display this weekend at the Final Four and I am looking forward to watching a great game between two stellar teams! Check out Lori's blog post, "How Brad Stevens Got His Dream Job."
Wednesday, March 10, 2010
Beginning with the End in Mind
In "The Seven Habits of Highly Successful People," Stephen Covey suggests always beginning with the end in mind. Covey means that in order to get somewhere—anywhere—successfully, you have to know where you are trying to go. Artists have a vision for what their painting will look like before they pick up their brush. Pilots file a flight plan before they take off. Golfers use what they call good "course management." And you have to do this before you meet new contacts.
In his book "Blink," Malcolm Gladwell reviews all the fascinating things that can happen in the blink of an eye—the decisions we can make based on our instincts, and how much more accurate these can be than those based on extensive data and study.
Psychological research shows there are some things we just appear to be "pre-wired" to understand in an instant. We quickly decide whether we think a person's personality is warm or cold, open or defensive, or friendly or distant. Our first impressions of people, although not made quite in the blink of an eye, are made in the first few moments of our interactions. These impressions are so important because they can be very challenging to overcome once they’re established. Why? We interpret all new information through the filter of that initial impression.
Additional interactions might help you change other peoples' impressions of you, but a negative first impression limits your chances to have more interactions with them.
Jerker Denrell, a professor at Stanford Business School, has found that when a potential employer forms a negative first impression of you, he or she is much less likely to be willing to have any more interactions with you, reducing your chances to change that impression. In fact, this process can take less than four-and-a-half minutes.
Frank Bernieri at the University of Toledo found that untrained observers watching a videotape of the first 15 seconds of a job interview were often able to accurately predict which applicants received job offers and which didn't. The same can be said for meetings with potential clients and when you first meet your company's CEO.
First impressions mean everything. Envision your end goal, prepare accordingly, and send yourself the right message - the positive impression you make will lead to success!
In his book "Blink," Malcolm Gladwell reviews all the fascinating things that can happen in the blink of an eye—the decisions we can make based on our instincts, and how much more accurate these can be than those based on extensive data and study.
Psychological research shows there are some things we just appear to be "pre-wired" to understand in an instant. We quickly decide whether we think a person's personality is warm or cold, open or defensive, or friendly or distant. Our first impressions of people, although not made quite in the blink of an eye, are made in the first few moments of our interactions. These impressions are so important because they can be very challenging to overcome once they’re established. Why? We interpret all new information through the filter of that initial impression.
Additional interactions might help you change other peoples' impressions of you, but a negative first impression limits your chances to have more interactions with them.
Jerker Denrell, a professor at Stanford Business School, has found that when a potential employer forms a negative first impression of you, he or she is much less likely to be willing to have any more interactions with you, reducing your chances to change that impression. In fact, this process can take less than four-and-a-half minutes.
Frank Bernieri at the University of Toledo found that untrained observers watching a videotape of the first 15 seconds of a job interview were often able to accurately predict which applicants received job offers and which didn't. The same can be said for meetings with potential clients and when you first meet your company's CEO.
First impressions mean everything. Envision your end goal, prepare accordingly, and send yourself the right message - the positive impression you make will lead to success!
Monday, March 1, 2010
If Your Dreams Break the Mold…
If you are going to truly discover your passion, you will need to let go of your desire for others' approval. Many of my clients would tell you when they let go of the need for approval, their career flourished the most. John Smoltz, a future Hall of Famer, would tell you that when he quit pitching for “everyone else,” his career flourished.
Throw aside (no pun intended :)) others’ expectations. Your passion may be staying at home with your children. Or your dream might be making partner at your firm. Maybe you absolutely love working part-time at your children’s elementary school. Whatever your passion is, be proud of it and don’t be afraid to be happy in what you do every day.
Women need to stick together! We need each other’s support and encouragement in order to accomplish great things. Support your friends and colleagues as they pursue their passion. And help them be proud of their personal “formula for happiness,” even if it is different from your own formula.
And, most of all – enjoy and embrace the journey – each and every day.
Throw aside (no pun intended :)) others’ expectations. Your passion may be staying at home with your children. Or your dream might be making partner at your firm. Maybe you absolutely love working part-time at your children’s elementary school. Whatever your passion is, be proud of it and don’t be afraid to be happy in what you do every day.
Women need to stick together! We need each other’s support and encouragement in order to accomplish great things. Support your friends and colleagues as they pursue their passion. And help them be proud of their personal “formula for happiness,” even if it is different from your own formula.
And, most of all – enjoy and embrace the journey – each and every day.
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