The Power of Negotiation in the World of Professional Sports ft. Leigh Steinberg
Episode Description:
“How negotiation is more than just the bottom line.”
In today’s episode of the ‘I Own It’ Podcast by Ben Reinberg, I am joined by Leigh Steinberg, a renowned American sports agent, his industry’s top philanthropist, best-selling author, and the Chairman of the Board for Steinberg Sports & Entertainment.
Leigh has represented over 300 professional athletes in sports such as football, baseball, basketball, and boxing. He has the record of representing the no.1 overall pick in the NFL draft eight times. Also, he’s considered to be the real-life inspiration for his true-to-life story in the film ‘Jerry Maguire’ with Tom Cruise and directed by Cameron Crowe.
As a philanthropist and top sports agent, Leigh highlights the value of negotiation by sharing his personal stories of the rise, fall, and redemption of his game-changing career in the high-stakes world of professional sports.
So join Ben and Leigh to find out the secret formula of success and why he’s not on TikTok!
Timestamps:
0:22 - Guest intro
2:03 - Understanding the context of ‘negotiation’
5:28 - How to manage clients’ expectations
7:42 - What has changed in the sports agent industry because of Leigh
10:35 - Find out the hardest part of his job
13:57 - The importance of listening skills in business
15:44 - Tips for overcoming challenges in both personal life and career
21:29 - ‘Where are you now?’
25:02 - What is a typical day for Leigh
26:02 - How critical is the ‘high school phase’ for athletes
28:25 - Key standards of becoming a good athlete candidate
33:17 - How cultural richness has a positive impact on honing an athlete’s character
38:26 - The formula of success in life
42:05 - Success tips for leveraging
46:05 - How to push back against the forces of hate and promote tolerance
49:57 - What advice would Leigh give his sixteen-year-old self
50:14 - What would be Leigh's last meal on earth?
51:36 - Leigh’s favorite music band
52:24 - How to practice gratitude in your life
Quotations:
“So managing expectations is critical. It's education. It's making sure that someone understands the exact context that they're negotiating it. So that they look at the market and you show them comparable figures and you show 'em from the standpoint of performers on the field and value to team, how they rate among their peers, and then what that leads to in terms of other comparable packages. And the key is managing expectations. You're so much better to under promise and overperform, and it's all about expectations.” - Leigh Steinberg
“I think the first key is not having kids play too young. So the younger brain is still in formation and if it takes that to do a concussion for a younger kid.” - Leigh Steinberg
“It's getting into someone's heart and mind and seeing them holistically.” - Leigh Steinberg
“..you realize that the athletic skillset is just a formula for success in life.” - Leigh Steinberg
“Don't push it until I'm forcing you to lock in. Then understand that all people have egos and all people have pride. Don't push someone against the wall.” - Leigh Steinberg
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