I have been involved with music my entire life, and have dabbled in various facets of the entertainment industry. The most precious part of this journey had been as a disc jockey since I was around 15 years of age. I want to go further into the industry beyond just as a dj, so I have been seriously contemplating starting my own artist management company.
The main reason for this decision is that no one else will represent me, or at least take me as seriously as I have thought this out. Since I have a Bachelor’s degree in Music Business/Audio Technology, I am about to complete my Masters degree in Entertainment Business as well. Both of these degrees along with my industry experience should help a lot in building relationships with others in the industry.
I realize that there are many legs to this monstrous spider called the Music Industry, but it is somewhat intimidating to figure out exactly where I should start. I have some interests in Tour Management, Artist Booking, and Concert Promotion. The live entertainment business is bigger than it probably has ever been, and there is nothing more exciting than a great concert. As a dj, I have been somewhat involved in all of these divisions of the industry, so the choices definitely are widespread to say the least.
I’m hopeful that I will be able to keep in touch with other students at Full Sail University once I graduate next month, and even possibly create an artist management business with a few of them. I am now looking at companies that I may be able to intern with, and try to put myself in a good position for solidifying my entertainment career. For all of my visitors that come to my blog, I would appreciate any suggestions that you may have for this topic.
Wednesday, February 29, 2012
Monday, February 13, 2012
Expert Views On The Value Of Business Plans II
Continuing from my last post about this topic, I have had some time to ponder this information thoroughly. I have a better idea now on how I would be able to incorporate the value of a business plan into my own company. With the first key element mentioned previously, I already have a proper business name for my company in place. I am not going to mention its name yet, because I have not copy written or trademarked it yet.
It is extremely important to have the right name matching the right business, because it will not confuse anybody who comes across it, and furthermore it lets you know exactly what the business is about. I believe that my business name does let you know what it is about easily. The second thing that I plan to implement is a logo that is simple and straight to the point. There are a few ideas that I have in my mind for my logo, but I am trying to narrow those choices down.
The next important step for my business is, to create a slogan that will resonate with my potential consumers and pull them in. The slogan is being developed at the same time of my logo, so I am trying to get those things narrowed down to my best choices also. There are four sections of my business plan that I feel are the most important which are; 1) Target Customers, 2) Market Readiness, 3) Competition, and 4) Barriers to Entry.
These sections are the most important to investors, because it is getting to the point of whom your business will be going after and why. The market being ready for my company is important as well, because the figures that I have found tells me that there’s a market for my product. The competition section lets the investor know that I have thoroughly researched who my company is up against, and what barriers new companies may face in this market.
It is extremely important to have the right name matching the right business, because it will not confuse anybody who comes across it, and furthermore it lets you know exactly what the business is about. I believe that my business name does let you know what it is about easily. The second thing that I plan to implement is a logo that is simple and straight to the point. There are a few ideas that I have in my mind for my logo, but I am trying to narrow those choices down.
The next important step for my business is, to create a slogan that will resonate with my potential consumers and pull them in. The slogan is being developed at the same time of my logo, so I am trying to get those things narrowed down to my best choices also. There are four sections of my business plan that I feel are the most important which are; 1) Target Customers, 2) Market Readiness, 3) Competition, and 4) Barriers to Entry.
These sections are the most important to investors, because it is getting to the point of whom your business will be going after and why. The market being ready for my company is important as well, because the figures that I have found tells me that there’s a market for my product. The competition section lets the investor know that I have thoroughly researched who my company is up against, and what barriers new companies may face in this market.
Sunday, February 5, 2012
Expert Views On The Value Of Business Plans
I had just read the stories about restaurant gurus Bobby Flay and Steve Ells, and I must say it is truly inspirational to know how these men have succeeded in their field. I have known about Bobby Flay for a few years now and he really seems to know his stuff. Steve Ells on the other hand I did not know about, because I was not aware that he founded the Chipotle restaurant. It is amazing that Steve Ells started his business with an $85,000 loan from his father, and was able to get Chipotle off the ground.
According to Bobby Flay’s personal website (www.bobbyflay.com), he’s been in the culinary field since he was 17 years old which is astonishing to say the least. I can appreciate the fact that he owns more than one successful restaurant, and has been on three successful television shows as well. It seems that each project that he has been a part of is more successful than the previous one.
According to Forbes Magazine’s website (http://people.forbes.com/profile/steve-ells/19160), he is a graduate from my alma mater the University of Colorado. He got his start at Stars Restaurant in San Francisco and had worked for two years there. He realized early on that food should not be of a low quality or be ridiculously expensive. This is the backdrop to how Chipotle was born (Forbes, 2012).
It was amazing to learn that Chipotle has grown from a single restaurant to well over 1,000 restaurants in 17 years. All of this from a single vision of believing that good food should be affordable and tasty. Bobby Flay has really developed a true sense of what southwestern food is all about, and you can tell that he knows what it takes to create it from scratch. There were some very interesting key points of what investors look for in a business.
The first key element in a successful business plan is the name of the company. If a name does not match the company, then consumers will be confused about the business and probably will not be customers of that business for long.
I had not really thought about it before, but if a name is offensive then it will turn off certain demographics of potential customers.
Picking a proper name to represent the owner and the business is very important. The next key element that I found was important was the logo that a company chooses to represent itself. The name should be easy to read and without it being all jumbled up together. I have seen some places where I could not read the name of the business no matter how hard I had tried.
I agree that a logo should be simple and straight forward, and it should be easy to pronounce as well. The slogan that the company goes by should really hit home with what the business is all about too. The concept of the slogan is equally as important as the other key elements in a successful business plan.
The slogan needs to catch the consumer’s attention and be easy to remember too. Investors want to know where their money is going, and more importantly how much of a payback that they will receive in return. I can understand now how an ROI ( Return On Investment ) can be so important to an investor without a doubt. All of these elements are key in a business’s success, because being marketable is what truly captures a consumer’s attention.
Without a good marketing plan, the business is doomed from the outset. The company must have a strong team-oriented environment and possessing good leadership skills are critical. The owner of the business must show investors that he/she is willing to take risks and to bounce back from any failure. It is important for the owner to prove to himself or herself and to the investors that they are willing to do whatever it takes to succeed.
Sources:
http://www.bobbyflay.com/bobby-flay.php
http://people.forbes.com/profile/steve-ells/19160
http://www.chipotle.com/en-US/chipotle_story/steves_story/steves_story.aspx
According to Bobby Flay’s personal website (www.bobbyflay.com), he’s been in the culinary field since he was 17 years old which is astonishing to say the least. I can appreciate the fact that he owns more than one successful restaurant, and has been on three successful television shows as well. It seems that each project that he has been a part of is more successful than the previous one.
According to Forbes Magazine’s website (http://people.forbes.com/profile/steve-ells/19160), he is a graduate from my alma mater the University of Colorado. He got his start at Stars Restaurant in San Francisco and had worked for two years there. He realized early on that food should not be of a low quality or be ridiculously expensive. This is the backdrop to how Chipotle was born (Forbes, 2012).
It was amazing to learn that Chipotle has grown from a single restaurant to well over 1,000 restaurants in 17 years. All of this from a single vision of believing that good food should be affordable and tasty. Bobby Flay has really developed a true sense of what southwestern food is all about, and you can tell that he knows what it takes to create it from scratch. There were some very interesting key points of what investors look for in a business.
The first key element in a successful business plan is the name of the company. If a name does not match the company, then consumers will be confused about the business and probably will not be customers of that business for long.
I had not really thought about it before, but if a name is offensive then it will turn off certain demographics of potential customers.
Picking a proper name to represent the owner and the business is very important. The next key element that I found was important was the logo that a company chooses to represent itself. The name should be easy to read and without it being all jumbled up together. I have seen some places where I could not read the name of the business no matter how hard I had tried.
I agree that a logo should be simple and straight forward, and it should be easy to pronounce as well. The slogan that the company goes by should really hit home with what the business is all about too. The concept of the slogan is equally as important as the other key elements in a successful business plan.
The slogan needs to catch the consumer’s attention and be easy to remember too. Investors want to know where their money is going, and more importantly how much of a payback that they will receive in return. I can understand now how an ROI ( Return On Investment ) can be so important to an investor without a doubt. All of these elements are key in a business’s success, because being marketable is what truly captures a consumer’s attention.
Without a good marketing plan, the business is doomed from the outset. The company must have a strong team-oriented environment and possessing good leadership skills are critical. The owner of the business must show investors that he/she is willing to take risks and to bounce back from any failure. It is important for the owner to prove to himself or herself and to the investors that they are willing to do whatever it takes to succeed.
Sources:
http://www.bobbyflay.com/bobby-flay.php
http://people.forbes.com/profile/steve-ells/19160
http://www.chipotle.com/en-US/chipotle_story/steves_story/steves_story.aspx
