What should an Agent do when a deal is about to collapse?
Alex is the Managing Director of major UK talent agency InterTalent. He represents his clients alongside overseeing the agency's creative strategy, day-to-day operations & acquisitions.
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All of my previous blogs about being a Talent Agent can be found here.
If you want to hear more about my life as an Agent and Managing Director of InterTalent, check out my recent interviews on the TV Makers and Previously Learnt podcasts.
You're missing out if you haven’t started The Studio on AppleTV. Only 4 episodes in but I’m hooked. It’s outstanding in every department. Seth Rogan plays Matt Remick, recently promoted to his dream job as the head of one of Hollywood’s biggest movie studios. He wants to make Oscar-worthy films and work with his idols like Martin Scorsese and Ron Howard. The problem is that his boss isn’t interested in filmmaking and only wants him to focus on making big money. His first job? Make a movie about a famous fizzy drink. Chaos, mayhem and madness ensue with comical results.
It’s got me thinking about one of the biggest conflicts we all face as we progress through this industry: Art v Commerce. As the MD of a talent agency with 50 staff, I have to balance this every day. We can all agree that our passion for creativity and entertainment is why we’re in this business but it’s never that simple is it? Money matters to everyone. People want to earn a lot of money, and in my role, I always need to ensure our company has a healthy P&L. What’s more important? What comes first? At its core, that’s what The Studio is about.
As an Agent, we have to be extremely skilled in both the creative and the business. We’ve got to be creative and entrepreneurial at the same time. Yes, the creative comes first but at some point, the Agent has to take off their creative hat and put their business one on when it’s time to discuss the deal.
This is where an Agent often gets judged the most. Being a creative partner to your client is extremely important, and getting them offers is too… but making sure you negotiate the best terms possible is perhaps viewed as the most important element. In truth, all 3 are just as important as each other… but often your skill in doing a great deal tops the lot.
Last week I finally signed off on a major deal that started back in November 2024. I distinctly remember making the first call while in LA. I was about to head into a meeting with Wondery at their Amazon offices in Culver City. The sun was shining, the offices were stunning and I had no idea what time it was back in the UK - but no time like the present. It was the first conversation about ‘the deal’. I also remember the other person saying this one should be fairly straightforward. Fast forward. It’s taken nearly 6 months from the first conversation to finally being able to shake hands, agree terms and make both parties happy. At least 4 times during the process the deal was off. Not even ‘not looking likely’, just fully off. The creative was perfect, but the deal was not and when it’s an important opportunity you go through all the emotions that come with it. Everyone had downed tools and moved on… and each time we all eventually came back to the table and started talking again. It reminded me that most important deals can often nearly fall apart multiple times.
So given I have ‘the deal’ very firmly in my head right now and I’ve already written a blog about my secrets of dealmaking (you can read that here), I thought I’d share some thoughts about a situation no Agent ever wants to get to: what to do if you’re about to lose it.
Let’s go! ⬇️
🤔 What should an Agent do when a deal is about to collapse?
Agents are a lot of things. Part psychologist, part forensic analyst and part business manager. Making sure you can negotiate a deal for your client isn’t just about a fee for their services. It’s about all the elements: profit participation, royalties, payment schedule, credit, logistics, creative consultation, options, termination clauses and more.
It’s integral to know how your client feels about the job before any negotiation. Is it a project they just must do at all costs or is it something they are happy to walk away from should the terms not be right? Knowing that is essential as it ultimately tells you how strong your hand is. It enables you to pre-plan a Gold, Silver & Bronze version of what the result might look like (you should always have this laid out either on paper or in your head). Aim for Gold, settle for Silver (maybe) and never agree to Bronze.
Negotiation takes skill: an understanding of the market, extensive knowledge of industry dealmaking, confidence, clarity, clear strategy and great communication. However, even with everything at its strongest, deals nearly fall apart the whole time. They’re up and down until the finish line. If a deal is really easy then I’d say it probably means it’s not a very important one. Major opportunities are always complex, they have to be. It’s why they’re major.
What also takes skill is bringing a deal back to life when it looks dead and buried. When it’s going off the rails. It takes patience, it takes calm and a whole lot more.
Here’s my guide to what you should do when an important deal is starting to collapse ⬇️
🔍 Diagnose the problem quickly: What’s causing such a big issue? The detail is so important. A wobble is normally because one party feels they are being treated unfairly. Understand what the hurdle is, work out why it matters so much (an important question to ask even if you’re asking yourself!) and see how quickly you can resolve it. Don’t bury your head in the sand, get to the crux of the problem.
🛠️ Fix what can be fixed quickly: Being an Agent means you are a fixer. A fixer of deals, but also a fixer of problems. It is a solution-based job. But time is of the essence and if you snooze you lose. Don’t dilly-dally. The quicker you can think of the solution and execute it the better your chances are. There is always a way through. The truth is you just need to come up with better ideas than before. A lot of Agents bury their heads in the sand and blame the other side. If a deal is falling apart and you want it to succeed then you need to do a better job of finding a resolution that works.
🤝 Keep everyone talking: Silence is deadly in negotiations. Truth is, things can often go from bad to worse when everyone takes too long to reply and suddenly the excitement wears off. When things go quiet, with massive pauses between communication, it’s never a good sign. Don’t let it fizzle out. Momentum is everything. Even a simple “Where are we at?” or “We’re talking it through and will be back to you by the end of the week” or “Can we have a quick call to catch up?” keeps you alive and in the game. Remind everyone why we all loved the project in the first place and keep talking about the inevitable success and long-term prospects. We usually make better decisions when reminded of the bigger picture. Just keep talking. Speaking of that…
📱 Get off your emails, and on the phone: I see so many deals that become problematic because a whole negotiation has taken place over email with little context, understanding or emotion. Get off emails, get on the phone (or a Zoom) and talk. Sometimes it’s as easy as that. Emails are a very poor way to negotiate an important contract for your client. There’s no skill to that. Do a deal the old-fashioned way and communicate in real life. Understand each other, hear each side out, ask lots of questions, utilise a strategy, talk when you need to, stay silent when you don’t, pre-plan the tactics. The best Agents pick up the phone.
🧠 Control the narrative: I know it sounds obvious but if you accept that it’s about to fall apart, it probably will. It’s not wobbling, it’s not over, it’s just part of the process. Perception is important whether it’s an internal conversation with yourself, a catch up with your boss or a big ‘managing expectations’ chat with your client. Keep positive. If you let yourself get negative, it might not recover. Say to yourself that getting to sign off is currently at the ‘not yet’ stage. Not a ‘no’, it’s a ‘not yet’. All deals that aren’t finalised are a ‘not yet’. I had a massive ‘not yet’ deal for 6 months and now it’s a ‘yes’.
🤝 Compromise: If you feel like you must give (or give up) something to bring the other party back to the table, always try and tie it to closing the deal. “If we give you X, can we sign today?” Don't give without asking for commitment in return. It reframes the gesture as a solution and reinforces that any compromise must move the deal forward.
🆘 Call for backup: When negotiations stall, bringing in a new voice can reset the whole dynamic and change the energy. It’s almost starting over. If any of my team brings me into a problematic conversation mid-way it gives me a chance to say ‘I don’t know anything about what’s gone on, can you talk me through it from the start?’ Whether it’s your colleague, your boss or a lawyer, the addition of a new person tells the other side that you want to find a positive solution. Forget about your ego. It’s not a sign of weakness; it’s a strategic chess move.
😀 Acceptance: Being an Agent is stressful. Our lives are a rollercoaster of emotions all day long. If negotiations are stuck, and you’ve exhausted every angle with integrity and effort, stepping away can be the boldest — and smartest — move. The power of this needs to come from your client, not you, but if they genuinely hand over that power to you then stepping away signals confidence in your client’s value. But how you walk matters: leave the door open always. Protect the relationship, keep positive, stay cool and exit with professionalism. “This might not be the right fit as of today, but let’s stay in touch.” Sometimes, the power of ‘no’ actually brings them back. And if not, and it wasn’t working out, then that’s okay too.
Those are my top tips to save an important deal on the verge of collapse but here is the reality: a lot of great potential deals do collapse. As an agent, you can do all the right things but you can’t control everything. Things happen. A change in budgets, a change in personnel, a change in direction, a change in desire.
So what do you do? You move on. Don’t hold onto it. There is ALWAYS another possibility around the corner. Go out there and get it. If you didn’t get on that train, the next train will come.
📥 I would love to hear from you. Any ideas, thoughts and feedback via alex@intertalentgroup.com are always most welcome.
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See you next time.
Alex
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