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Karen Brodkin, co-head of William Morris Endeavor (WME) Sports and executive vice president at Endeavor, oversees the representation of some of the biggest names in sports, spanning the NFL, NBA, MLB, tennis, golf, soccer, Olympic and action sports, and more. She's closed hundreds of deals with partners across every distribution platform over the course of her 20-plus-year career.
Image Credit: Courtesy of WME Sports. Karen Brodkin.
However, Brodkin's path to her current position "wasn't a straight line," she tells Entrepreneur, but "a winding road."
Brodkin spent five years as an entertainment attorney at two Los Angeles-based firms before she joined FOX Sports Media Group, where she oversaw deals with the NFL, MLB, NBA, NASCAR and more as executive vice president of business and legal affairs.
"When you push away from the table, both sides have to feel [that] they got enough."
Needless to say, Brodkin has learned a lot about the art of negotiation over the years — and has some time-tested tips for success.
First, do your homework before the meeting. "When we are working with the client, whether it's with the incumbent partner or when we're going to market, we always come in prepared," Brodkin says.
Next, prioritize what you want to get out of the negotiation — and don't forget to leave space for give and take. "I always say, 'When you push away from the table, both sides have to feel [that] they got enough that they feel good about the deal,'" Brodkin explains.
Related: The Art of Negotiation is Misunderstood. Here Are Some Lesser-Known Tactics I Use to Win.
That also means leaving a "win at all costs mentality behind," according to Brodkin.
"We work with our clients to figure out what's most important," she adds. "And then you have to get into a back and forth with the other side where you have to be transparent: 'This is what we really need. Tell me what you really need.'"
Finally, don't underestimate the power of building strong relationships.
"I want to have a relationship with the other side of the table that was born before we were in the middle of this deal, where there's trust, respect, transparency and, in the best case scenario, a friendship," Brodkin says. "Sports is a relationship business. Some of these people have been in the business as long as I have, and they're not going anywhere."
"I wake up in the morning thinking about the WME Sports business unit, and I go to bed thinking about it."
A commitment to fostering positive relationships also extends to Brodkin's own team at WME Sports.
"I think about [how to manage my team effectively] every bit as much as I do about the dealmaking side," Brodkin says. "I'm not looking for kudos. I have no judgment for how anybody else at this company or other companies leads. That's what works for me: I wake up in the morning thinking about the WME Sports business unit, and I go to bed thinking about it."
Brodkin strives to be an honest, accessible leader who isn't afraid of hard conversations, keeps empathy at the fore and gets to know people on a personal level. She also aims to empower the members of her team.
Related: Stop Lying to Your Team — And Yourself. Try Radical Honesty Instead.
"I don't try to micromanage," Brodkin explains. "I just want them to know that I'm there to be their sounding board, their safety net, the person that advocates for what they need or for them personally. But I'm never going to know as much as they know about their business."
"We're definitely open for business if other people want to hop on board."
Brodkin says she's proud of the culture she's helped build at WME Sports—and some days, she even feels "like the chief culture officer of WME Sports." She notes that a strong culture benefits not only employees but also clients.
Brodkin looks forward to expanding the WME Sports brand and seeing the organization's young team members succeed.
"We have an unbelievable bench of young agents," Brodkin says. "We're definitely open for business if other people want to hop on board. I'm excited about where we are and excited about where we're going. I'm not done yet. We're not done yet."
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