How to stay informed on everything?

Prepare yourself on an ongoing basis for the most common negotiations in your life. If you sell boats for a living, you should know more about the kind of boats you sell than anybody else in the world. Attend boat shows open to the general public as well as seminars for the professional salesperson. Seek out the designers and manufacturers of your boats for detailed information.

Talk with your co-workers over the water cooler. Take advantage of all these varied resources. For instance, if you are a talent agent in Hollywood, know the type of material studios and production companies are looking for. Don’t waste your client’s time by sending him or her out to pointless meetings. Moreover, you don’t want your clients knowing more about the marketplace and having them tell you what companies they should target. Stay up-to-date on the latest deals, the latest information about the prices that things are being sold for, and the latest company mergers.

Staying informed will benefit both you and your client. The quality of the advice and information you receive varies widely. Decide what to keep in your treasure box of information and what to reject, but keep exposing yourself to anything and everything that can increase your stockpile of information. You never know when some bit of trivia can become your secret weapon in a negotiation.