Guided Tour
 View Your Account
 Shop for Stocks
 Research Stocks
 Educate Yourself
 Family Investing
 Retirement Focus
 Resource Center
 Our Strategy
 About Us
 Helpdesk
 Home
Google Custom Search
 


Introverts Can Be Successful, Too (With Help) 
Linda Goin
  
Archives

A few of you may have cringed as I compared entrepreneurial attributes to world-class athletes and their coaches within the past two articles. You might prefer to plow into a book rather than into the snow, because you might see yourself as an artistic type - a hermit, perhaps. Or, you might enjoy physical activity, but you prefer yoga - a more meditative and introspective activity that limits contact with other people. Yet, you want to go into business for yourself. I'll guess that part of the reason you toyed with the entrepreneurial path is because you dislike office environments (too many cubicles, way too many people).

I don't want to burst your bubble, but if you're the quiet, introverted type who abhors crowds, then you only have two choices if you want to strike out on your own. You can either change your personality (good luck!), or you can seek out an agent, and/or a salesperson and/or a business partner to help you get your goods and/or services out to the public. Even an extrovert who loves to grandstand might benefit from the help of any one of these people.

Agents, salespeople, and business partners wear different hats, and that's why I attached the "and/or" possibilities to them in the previous paragraph. Several commonalities exist among those folks: you could benefit from their expertise; you don't need to be around them all the time, and; if you pick the right people for your business, your work load and your need to face the public may decrease by degrees. But, differences exist among these folks as well. Agents are the focus for this article, followed by salespeople next week, and then business partners.

Agent: An agent is someone who acts on behalf of another person, usually for a commission. You can usually find agents in the arts fields and in real estate or insurance, and sometimes in other fields, but only where you need a person who can enter into contracts and other legally binding functions on your behalf.

You may have dealt with an agent when you purchased insurance or when you bought or sold a home. You know, then, that an agent wants to know everything about you so she can help you choose the best product or service for your needs. Alternately, that agent - presumably - will also know everything about the specific products or services that hold your interest.

An agent who represents artists and writers is a little different from a real estate or insurance agent. While all agents act as your representative, your role changes when an agent represents your work. If you are an artist or a writer, you entrust an agent to sell your goods and services, but you normally don't purchase goods from the agent. You do, however, purchase his services. For instance, a literary agent should know a wide assortment of editors and publishers in a specific genre. You pay for that expertise, usually as a commission when your work sells. However, a literary agent may charge you for editorial services (perhaps through a third party), for extraneous expenses (like gas and phone calls), and for other items as well.

The same criterion applies to agents who work with artists and musicians. For instance, if you're an artist who renders abstract pastel landscapes, then you'd look for an agent who knows the market for abstract pastel landscapes, not an agent who is familiar with a realistic oil portrait market. If you're an artist, you know there's a huge difference between mediums, styles, and focuses in that example. An artist's agent will be familiar with the galleries, stores, and other venues that are open to your work.

Like the person who wants to sell a home, you must prove that you and your talent or work is "sellable," or an agent may not be interested. For example, if you are a charming person who writes short stories, you may find that few agents will want to represent you despite your charms, because the money in your field is scant. But short-story writers and other artisans often dream about the agent who has heard about their work and who feels that their talent is "marketable." Agents, like mentors (see previous article), like to accumulate feathers in their caps as this makes their name worth knowing (this is why some agents are known as "scouts," because they search for marketable talent). But, that situation is much like winning the lottery, as the recipients of this dream are few and far between.

An agent, especially one who specializes in the arts, often becomes a boss, because that agent may also be a "special events" planner or a person who books events for their "clients" (you), sometimes without your advance consent. While some agents are nicer and more forgiving than others (similar to bosses), you are at their beck and call. Why? Because when you make money, your agent makes money, too. Alternately, your agent - if you signed a contract with that agent to this affect - is obligated to find as much work for you as possible. For the introvert, the devil is in the public appearances (witness book signings, gallery openings, and - horror of horrors for the musically talented introvert - the concert).

Entrepreneurs need to be in the public eye or somehow push their work into public venues to generate an agent's interest in the first place. Awards, accolades, and monetary triumphs all help to capture an agent's attention. Perhaps, for an introvert, the agent isn't the solution unless the agent is combined with other forces, such as salespeople and/or business partners.

To reiterate: Agents also exist for professionals and professions other than the arts, but only where a person is needed to enter into contracts and other legally binding functions on your behalf. For example, if you plan to buy and sell property as a livelihood, you could contract with an agent to handle the necessary details that only a licensed real estate agent can handle. In this case, though, the agent may become more of a business partner in the long run.

Maybe you'd rather change your focus and hire a salesperson instead? That's next week.

Until Then,
Linda Goin


The BUYandHOLD website contains links to third-party websites on the Internet. BUYandHOLD provides these links to these websites only as a convenience to users of the website. Links on the BUYandHOLD website are not endorsements by BUYandHOLD or Freedom Investments, implied or express, of the linked sites or any products, services or links in such sites; and no information in such sites has been endorsed or approved by BUYandHOLD. Linked sites are not under the control of BUYandHOLD or Freedom Investments, and we are not responsible for the contents of any linked site or any link contained in a linked site. No information contained in the BUYandHOLD website or accessed through any linked site, or any link contained in a linked site, constitutes a recommendation by BUYandHOLD or Freedom Investments to buy, sell or hold any security, financial product or instrument. Information accessed through linked sites is not, nor should be construed as, an offer or a solicitation of an offer, to buy or sell securities by BUYandHOLD or Freedom Investments. BUYandHOLD does not offer or provide any investment advice or opinion regarding the nature, potential, value, suitability or profitability of any particular security, portfolio of securities, transaction or investment strategy, and any investment decisions you make will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Copyright © 1999 – 2009 Freedom Investments. All Rights Reserved.
Freedom Investments, Inc. Member FINRA/SIPC
Privacy & Security