At one point, Drew Rosenhaus was very likely the most hated man in sports by almost every fan and general manager. Even though I haven’t been able to prove it, I am 99% certain he staged the drowning and his subsequent saving of a small child from a public pool in 2005 just to get some positive PR (seriously this happened, google it). However, there was one group of people in professional sports who heralded Drew as their champion and savior. I’m talking, of course, about the players. Drew Rosenhaus was, and still is, the most well known and aggressive agents the sports world has ever known. Despite his former reputation as being overbearing and hard to work with, no one in this world could deny one simple fact, Drew always knows how to close sales. That’s why he’s the best.
Ever since 1996 when Jerry McGuire (Tom Cruise) proclaimed, SHOW ME THE MONEY to millions of fans worldwide, being a sports agent has seemed like a pretty cool and easy job. Just hobnob with some rich and famous NFL players, wait for a good season, sign a deal for many millions of dollars, and take home your 10%. Many people see sales the same way, just make a bunch of phone calls, get the right person on the phone, tell them what you are offering and boom, count your commission. If it was that easy to do either job everyone would do it. There is a reason sales managers talk about the 80/20 rule (20% of the salespeople will do 80% of the volume) and a reason why Drew Rosenhaus has negotiated over 2 BILLION DOLLARS in sports contracts. Closers know how to close and the rest of the world does not. Let’s see how the two compare.
Have you ever heard of a prove-it deal? Athletes coming off of subpar seasons generally don’t sign long-term contracts. Instead, agents push them to sign one-year “prove-it” deals in the hopes of having a great season so their value is much higher. This is the hallmark of any great closer. Closers know that the key to closing a deal isn’t predicated around how much something costs but instead about how much value they create for their potential client. While subpar closers may instantly try to lower their price when a client objects about costs, true closers know that the client is really saying “you have not shown me enough value yet.”
The things people value is always different. As closers, our true objective when speaking with a client is to ask enough questions so that eventually our client reveals to us what they value most. When we know what they value, we can show them how our product meets those very specific needs and then, and only then, will price no longer matter.
On a surface level, an NFL team values seem pretty simple. They value great football players. However, just like each potential client we speak to, the needs of each team always vary. Every year agents hang around different events such as the NFL combine, awards dinners, and even locker rooms looking for an angle to build value for their own clients. This is the reason why one player who also returns kicks may get a better contract then his peer even if he isn’t the better player because that team needed a kick returner.
As salespeople, we tend to get caught up on the surface of our products. We say things like, “This car is the fastest” or “These solar panels are the most efficient.” While it may be the simplest of features, that may mean more to our client than massaging car seats or what country the panel was manufactured in. Just like the agent who hunts for every in and every angle to promote his clients, closers are constantly asking questions to determine what means the most to our customers.
As a kid, I always wanted to grow up to be a high-flying sports agent. Unfortunately, a college degree and some great contacts are usually a requirement, so I ended up in sales. Little did I know we were actually doing the same job. At the end of the day, we just want the people on the other side of the table to… SHOW US THE MONEY.
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