November’s One-A-Day Q&A – Question #8

8 11 2016

 

Q: How do I know if I need an agent? What is the best way to approach agents…with cold calls or newsletters?

 

november-q-a-final

 

A: First, I’ll answer how to determine if you need an agent (and tomorrow I’ll answer how to approach agents). In deciding whether or not you want to be your own agent, I believe there are several important issues you need to consider:

  1. First, do you have the skill sets to market your business: pursue, sell and close licensing deals?
  2. Can you manage marketing and sales while creating art and running all the general aspects of a entrepreneurial business?
  3. Are you willing to share as much as fifty percent of your licensing revenue, if you decide to have an agent work for you?  Most agents today charge between 40% and 50%, though I’ve seen it as low as 30% and as high as 70%.

So, think about those three questions.  If sharing half of your licensing revenue is really more appealing than spending sixty to eighty percent of your time in sales and marketing mode, then finding an agent is probably the right decision for you and you should strongly consider looking for an agent.

But if you prefer being in control of your destiny and have some marketing skills and/or desire to learn them, then I’d say get out there and take advantage of the fact that this is one of the industries which encourages artists and creators to manage their own business.

 

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