I was writing in Entrepreneurship 2.0, my entrepreneurship course, about what's called the "principal agent problem" or agency dilemma.
According to Wikipedia, the free, on-line encyclopedia:
[The] agency dilemma treats the difficulties that arise under conditions of incomplete and asymmetric information when a principal hires an agent. Various mechanisms may be used to try to align the interests of the agent with those of the principal, such as piece rates/commissions, profit sharing, efficiency wages, performance measurement (including financial statements), the agent posting a bond, or fear of firing. The principal-agent problem is found in most employer/employee relationships, for example, when stockholders hire top executives of corporations. Numerous studies in political science have noted the problems inherent in the delegation of legislative authority to bureaucratic agencies.I have to tell you I've had two agents in my life, and I have no evidence that they ever worked on my behalf. Now a percent of royalties is supposed motivate them, but if the agent has Elmore Leonard and Tim Bosworth as clients, guess who he's going to spend more time on.
I solved my dilemma by taking control of my own destiny and eliminating from my mind any thought of ever having another agent unless one of them can get me a movie deal.
Got an agent? Is he or she working for you? How would you know. You know, you can order a copy of my murder mystery right from here. What do you think? I'd like to know. Post a comment.
Writing is, to me, an entrepreneurial activity. Entrepreneurial ideas are the life's blood of my writing. For my entrepreneurial course, go to www.hatman2.blogspot.com. For entrepreneurial real estate, go to and click on www.yourstopforrealestate.com/blog