2. Recognize Your Worth
Like many before him after his medal winning turn in the 1996 Olympics, Floyd Mayweather went on to sign a lucrative contract with Top Rank Boxing, one of the sports longest tenured promotion companies. However, after a number of years, the big fights he craved (and big purses they create) were not forthcoming. So Mayweather paid $750,000 to buy his contract out and left the company. However, he just didn’t up and join another company as if he were an employee. Rather he employed the free-agent model. Allowing other promotional companies to bid for his services fight-by-fight, it not only raised his purses, but also created a number of new opportunities. However, it didn’t stop there, as his ability to put fans in the seats grew, so did his leverage and negotiating demands. He would proclaim himself as the “A-Side” to a bout and use it liberally to obtain any and every advantage he could in negotiations – from pay, to venue, to glove selection and ring size. Essentially, Mayweather came to recognize his worth and leveraged it accordingly.
