Podcasts > Creating Confidence with Heather Monahan > Confidence Classic: Negotiate Like a PRO, Build POWERFUL Relationships, & Close BIG Deals with Molly Fletcher

Confidence Classic: Negotiate Like a PRO, Build POWERFUL Relationships, & Close BIG Deals with Molly Fletcher

By Heather Monahan

In this episode of Creating Confidence, Molly Fletcher shares her experiences as a female sports agent and her approach to succeeding in a male-dominated industry. She discusses how she differentiated herself by focusing on family support and building trust, particularly with athletes' wives during challenging transitions. Her insights on negotiation emphasize the importance of preparation and strategic silence.

The conversation explores Fletcher's transition from sports agent to entrepreneur in personal development, supported by her husband's belief in her message. Drawing from her observations of elite athletes and coaches, she explains her system for managing personal energy and avoiding burnout, which includes aligning priorities with energy levels and incorporating recovery time through activities like workouts and meditation.

Confidence Classic: Negotiate Like a PRO, Build POWERFUL Relationships, & Close BIG Deals with Molly Fletcher

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Confidence Classic: Negotiate Like a PRO, Build POWERFUL Relationships, & Close BIG Deals with Molly Fletcher

1-Page Summary

Molly Fletcher: Female Sports Agent in a Male-Dominated Industry

In a groundbreaking career as a female sports agent, Molly Fletcher turned what could have been seen as a disadvantage into a unique strength. Rather than trying to emulate male agents, Fletcher built trust by offering distinctive support to athletes' families, particularly their wives during challenging times like trades.

Negotiation Strategies: Building Relationships and Understanding Needs

Fletcher emphasizes two key elements in successful negotiations: thorough preparation and strategic use of silence. She advocates for understanding the other party's concerns and motivations before entering negotiations, suggesting that offering different deal structures can help create mutually beneficial outcomes. Fletcher also highlights the power of pausing during negotiations, sharing how her strategic use of silence once helped secure a baseball player's contract without additional concessions.

From Sports Agent to Speaker, Author, and Entrepreneur

Drawing from her unique experiences as a female sports agent, Fletcher transitioned into speaking, writing, and entrepreneurship in personal development. Despite initial financial concerns, she was motivated by the opportunity to make a broader impact. Her husband's support played a crucial role in this career shift, believing strongly in the importance of her message.

Personal Energy Management & Recovery in High Performance

Through observing elite athletes like John Smoltz and coaches like Doc Rivers, Fletcher noticed their focus on energy management rather than just schedule management. She developed a system to help business professionals avoid burnout by aligning their energy with their priorities. Fletcher teaches that uninterrupted stress without recovery leads to burnout, emphasizing the importance of protecting time for energy-recharging activities like workouts or meditation.

1-Page Summary

Additional Materials

Actionables

  • You can create a personal brand by identifying unique aspects of your background and interests that set you apart in your field. For instance, if you're in a tech-dominated space and have a background in the arts, use that to offer creative solutions and build relationships with clients who appreciate a blend of technology and creativity.
  • Develop a habit of conducting mock negotiations with a friend or mentor to better understand potential concerns and motivations of others. This practice can help you anticipate different scenarios and improve your ability to think on your feet during actual negotiations.
  • Integrate energy management into your daily routine by scheduling short, regular breaks for activities that recharge you, like a 10-minute walk or a quick meditation session, especially during your most stressful periods. This can help maintain your productivity and prevent burnout by ensuring you're not running on empty.

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Confidence Classic: Negotiate Like a PRO, Build POWERFUL Relationships, & Close BIG Deals with Molly Fletcher

Molly Fletcher: Female Sports Agent in a Male-Dominated Industry

Molly Fletcher has made strides in the sports industry by leveraging her uniqueness and building relationships based on trust and authenticity.

Molly's Unconventional Success as a Sports Agent Without an Athlete Background

Molly Leveraged Female Perspective to Build Client Trust

Molly recognized that her position as the only woman in a male-dominated industry was an opportunity to stand out and connect with her clients in a way her competitors couldn’t. Rather than viewing her difference as a disadvantage, she reframed it as a distinctive benefit. Molly offered support to the wives of athletes, who often grappled with the effects of trades—a service netting valuable trust and fulfilling an overlooked need. She stayed true to her individuality instead of trying to mimic the male agents and scouts, which she firmly believed played a large part in establishing rapport with her clients.

Molly's Strategy For Overcoming the Challenges Of Being the "Only Woman" and Turning Negatives Into Opportunities

Molly Embraced Her Authenticity, Recognizing That Being True to Herself Uniquely Connected Her With Clients

Molly Fletcher speaks to the significance of cultivating relationships and nurturing connections, preferring to treat negotiations as opportunities for mutual benefit rather than conflicts. Her focus on authentic relationships serves as a significant differ ...

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Molly Fletcher: Female Sports Agent in a Male-Dominated Industry

Additional Materials

Counterarguments

  • While Molly Fletcher's approach to leveraging her uniqueness is commendable, it could be argued that success in the sports industry should be based on merit and skill rather than gender.
  • The emphasis on Molly's gender as a distinctive benefit might inadvertently reinforce gender stereotypes instead of promoting gender neutrality in professional capabilities.
  • Providing support to athletes' wives, while valuable, might be seen as reinforcing traditional gender roles where women are expected to support men's careers.
  • The idea that Molly's approach is less combative and more relationship-focused could be challenged by suggesting that negotiation styles are individual and not necessarily gender-specific.
  • The narrative that Molly's success is due to her authenticity and unique approach could overlook other factors such as market conditions, the talent of her clients, and broader industry trends that may have contributed to her success.
  • The suggestion that Molly's approach is different from her male counterparts might imply a generalization about male agents that doesn't account for the diversity of approaches among her peers.
  • The focus on personal differences as a central strategy mig ...

Actionables

  • You can identify and highlight your unique traits to create a personal brand that stands out in your field. Start by listing qualities or experiences that differentiate you from your peers, and then incorporate these into your professional narrative on platforms like LinkedIn or in job interviews. For example, if you have a background in theater and now work in sales, use your storytelling skills to engage clients in a more compelling way.
  • Develop a mentorship program at your workplace that focuses on underrepresented groups. By pairing experienced employees with newcomers who might feel out of place, you create a support system that can lead to increased trust and loyalty within the company. This could involve setting up regular one-on-one meetings where mentors can offer guidance on navigating the company culture and building a career path.
  • Create a feedback loop with your clients or colleagues th ...

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Confidence Classic: Negotiate Like a PRO, Build POWERFUL Relationships, & Close BIG Deals with Molly Fletcher

Negotiation Strategies: Building Relationships and Understanding Needs

Molly Fletcher delves into the art of negotiation, highlighting preparation and the strategic use of pauses as key elements to successful outcomes in any bargaining situation.

Key to Successful Negotiations: Understand Both Parties' Needs and Concerns

Molly Prepared For Negotiations By Understanding the Other Party's Motivations and Drivers

Fletcher emphasizes the importance of preparation prior to negotiations. She talks about understanding the other party's concerns and motivations, suggesting offering choices like different deal structures. Preloading aspects that can be conceded is a sign of preparation, as it indicates understanding what can be let go during negotiations. Fletcher stresses that the essence of negotiation is a conversation, saying, "The more that we prepare and understand what the person that we're negotiating with is worried about, the more that we can hopefully drive connection."

Molly Highlights the Power Of Pausing During Negotiations to Send a Message and Allow Reflection, Instead of Talking and Making Concessions

Strong Foundation and Preparedness Empower Molly in Key Negotiation Pauses

Heather Monahan speaks about the power of taking pauses in negotiations, noting that many people find this challenging. Molly is recognized for emphasizing the effectiveness of pausing as a strategy to assert firmness, making it easier to be clear about what one is asking for or expecting. This silent period helps manage the tension and reinforces the fidelity to one's position, similar to making another party 'hold' the offer as if it were a medicine ball, demonstrating the offer's seriousness.

Fletcher shares an anecdote about negotiating a baseball player’s contract. She recounts how, after align ...

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Negotiation Strategies: Building Relationships and Understanding Needs

Additional Materials

Counterarguments

  • While preparation is essential, over-preparation can potentially lead to inflexibility, where a negotiator might not adapt quickly to new information or changing circumstances.
  • Understanding the other party's motivations is important, but it can also lead to assumptions that may not be accurate. It's crucial to remain open to learning and adapting to the other party's actual needs and concerns as they are expressed during the negotiation.
  • Offering choices and deal structures can be beneficial, but it can also overwhelm the other party or make the negotiation process more complex. It's important to strike a balance between providing options and maintaining clarity.
  • Preloading concessions might signal to the other party that there is more room to negotiate than there actually is, potentially leading to a less favorable outcome.
  • While negotiation is a conversation, it is also a strategic interaction with objectives and goals. The emphasis on connection should not overshadow the importance of achieving one's negotiation objectives.
  • Strategic pauses can be powerful, but they can also be misinterpreted as hesitation or lack of interest, potentially weakening one's position if not used judiciously.
  • A strong relational foundation is beneficial, but it might not always be possible to establish such a foundation, especially in short-term or one-off negotiations. In such cases, other str ...

Actionables

  • You can practice negotiating with a friend using a mock scenario to get comfortable with strategic pauses. Set up a role-play where you negotiate a pretend situation, like selling a car or deciding on a vacation spot. During the role-play, consciously implement pauses after your friend makes a point or counteroffer, using the time to reflect on your next move rather than responding immediately. This will help you get used to the discomfort that might come with silence and teach you to use it to your advantage.
  • Develop a negotiation journal to track your understanding of others' motivations and concerns. Before any negotiation, write down what you believe are the other party's key drivers and worries. After the negotiation, revisit your journal to compare your assumptions with what you learned during the discussion. This habit will sharpen your ability to anticipate and understand the other party's perspective, improving your preparation for future negotiations.
  • Create a "negotiation cheat shee ...

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Confidence Classic: Negotiate Like a PRO, Build POWERFUL Relationships, & Close BIG Deals with Molly Fletcher

From Sports Agent to Speaker, Author, and Entrepreneur in Personal Development

Molly Fletcher utilizes her unique experiences as a female sports agent to deliver a powerful message through her role as a speaker, author, and entrepreneur in personal development.

Molly Realized Her Unique Experiences and Communication Style As a Female Sports Agent Offered a Powerful Message For Audiences

Molly Found Fulfillment In Helping Beyond Athlete Clients

While working with peak performers, Molly Fletcher observed key differences in their preparation and recovery. These insights served as the impetus for her to author books like "The Business of Being the Best." As she began writing and speaking engagements, Molly recognized the broader impact she could make beyond her role as an agent. Despite initial financial concerns, the positive influence she could impart on others proved motivating enough for her to forge ahead on this new trajectory.

Molly's Transition Stemmed From a Desire to Impact, Despite the Uncertainty Of Leaving Her Sports Agent Career

Molly's Husband's Support a ...

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From Sports Agent to Speaker, Author, and Entrepreneur in Personal Development

Additional Materials

Counterarguments

  • While Molly Fletcher's transition to personal development is inspiring, it's important to acknowledge that not everyone has the support system or financial means to make such a career change.
  • The unique experiences of a female sports agent can indeed offer a powerful message, but it's also critical to consider that personal development advice should be tailored to individual needs and not all strategies will work universally for every audience.
  • Writing books and engaging in speaking engagements can have a significant impact, but it's also worth noting that the personal development industry is highly saturated, and standing out can be challenging.
  • The narrative suggests a seamless transition from sports agent to personal development expert, but it's reasonable to assume there were challenges and learning curves involved that are not mentioned.
  • Molly's husband's support is highlighted as a key factor in her successful transition, but this could inadvertently suggest that such a career move is heavily reliant on having a supportive partner, which might not be empowe ...

Actionables

  • You can identify a skill or experience unique to you and use it to mentor others in your community. For example, if you're skilled at woodworking, offer to teach a free class at a local community center, sharing not just the craft but also the life lessons and personal development insights you've gained through it.
  • Reflect on your daily routines and pinpoint one area where you can improve your preparation or recovery, like athletes do. If you're a writer, this might mean setting up a pre-writing ritual to get into the creative zone or establishing a wind-down process after intense work sessions to maintain mental health.
  • Consider a cau ...

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Confidence Classic: Negotiate Like a PRO, Build POWERFUL Relationships, & Close BIG Deals with Molly Fletcher

Personal Energy Management & Recovery in High Performance

Molly Fletcher takes lessons from the sports world regarding energy management to prevent burnout and enable high performance, proposing a system that revolutionizes how professionals handle their schedules and priorities.

Molly Observed Elite Athletes and Coaches Managing Energy, Not Just Schedules

Fletcher observed elite athletes like John Smoltz, Doc Rivers, Tom Izzo, and Matt Kuchar focusing on managing their energy levels rather than strictly adhering to their schedules. Specifically, she noted how these athletes aligned their schedules with periods when they had previously performed well to ensure optimal energy during important events. This observation revealed to her that energy management is crucial for peak performance.

Molly Realized Many Professionals Struggled With Burnout From Poor Energy Management and Recovery Unlike Elite Performers

Fletcher noted a stark contrast between sports professionals and business individuals regarding energy management. She realized that professionals in the business realm often suffered exhaustion and burnout because they failed to align their activities with those that mattered most for their performance.

Molly Developed a System to Align Time and Energy With Priorities, Preventing Burnout and Enabling People to Show Up At Their Best

Molly Fletcher then shifted her focus from sports agency to addressing energy management challenges in the business world. She envisioned a transformative system for business professionals that mirrored the energy-centric mindset of elite athletes.

Empowering Performance: Understanding Stress, Recovery, and Energy Dynamics

She understands that stress and recovery are integral to high performance, noting that uninterrupted stress without recovery can lead to chronic burnout. In her training company, Fletcher teaches the importance of pairing energy with one ...

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Personal Energy Management & Recovery in High Performance

Additional Materials

Counterarguments

  • While energy management is crucial, strict schedule adherence can also be important in professions with time-sensitive tasks and deadlines.
  • Elite athletes' strategies for peak performance may not be directly transferable to business professionals due to differences in the nature of their work and the types of stress they encounter.
  • The assumption that aligning activities with periods of previously high performance will ensure optimal energy may not account for the variability in individual energy levels and external factors affecting performance.
  • The effectiveness of Fletcher's system may vary among individuals, as personal energy management is highly subjective and what works for one person may not work for another.
  • The focus on energy management might overlook other important aspects of professional success, such as skill development, networking, and strategic thinking.
  • The recommendation to protect time for activities like workouts or meditation may not be feasible for individuals with certain life circumstances, such as caregiving responsibilities or multiple jobs.
  • The idea that aligning time and energy with personal values will en ...

Actionables

  • You can track your energy levels for a week to identify your personal high-performance periods. Note down the times of day when you feel most alert and focused, and compare these to your current schedule. If you notice you're most energized in the morning, consider tackling your most challenging tasks during this time.
  • Create a "recovery ritual" by scheduling short, regular breaks throughout your workday to engage in activities that recharge you. This could be a five-minute breathing exercise every hour, a quick walk outside, or even listening to a song that uplifts you. The key is to make these breaks a non-negotiable part of your day, just like meetings and work tasks.
  • Develop a personal value statement and review your weekly activities to ensur ...

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