Every entrepreneur must be a talent manager – able to identify and inspire the right human capital. Without motivated people, no business can succeed.
I’ve always been fascinated by those people who focus on doing just this for a living – professional talent managers are the wheeler-dealers who look after the careers of entertainers and artists. They are merely the more glamorous version of professional service firms such as lawyers or management consultants; all are partnerships of a kind, concerned with recruiting and retaining big fee earners who know how to keep their clients happy.
The three great skills such operators need are spotting gifted entertainers early; keeping their famous clients satisfied; and negotiating ferociously on their behalf. Usually talent agents start with nothing except their wits and chutzpah. At heart it is a business that needs no working capital, just drive and insight into what makes creative people tick – and which ones to back.