Business Plan Implementation...

“…I never really understood what would make someone want to read it and why anyone else would read it outside of a bank when your company was applying for a loan” (Mason-Williams, 2011).

With a combination of this class and the experts I have been exposed to over the last month, I feel my confidence has improved immensely when it comes to implementing putting my final business plan together.  With each assignment, I’ve had to breakdown each component of my plan and analyze my idea in segments.  Based on the perspectives of Brisbourne and Zwilling, the Executive Summary is the most important aspect of the Business Plan.  Before learning this concept, I couldn’t understand why nor could I understand why this is the last aspect of the plan you write.  Now, it makes sense.

This part of the plan is the most important because it is the first portion of the plan that anyone reads.  I was unaware originally that the Executive Summary needs to act as a stand-alone document.

I plan to put immense focus on the Executive Summary once I have a rough draft outline of the remaining parts of my plan.   The concept of my plan is not a brand new idea, but its implementation is different from anything anyone else has come up with.  I want to be able to convey the uniqueness of my organization and grab the attention of all potential investors.

Another aspect of the business plan is the verbiage.  I’ve been uneasy about how I can explain my business and my writing style.  You want to convey a professional demeanor but at the same time you want your audience to understand what you are trying to say.

With learning and applying these new techniques, I’m excited to see what I am able to accomplish with my final draft.

Nic Brisbourne: uk.linkedin.com/in/brisbourne

http://www.aonetwork.com/AOStory/What-Should-I-Put-my-Business-Plan

Martin Zwilling: http://www.linkedin.com/in/martinzwilling

http://bpexpertviews.blogspot.com/

http://www.capital-connection.com/business-plan-tips.html

Business Plan Writing....What do the Experts Have to Say?

Graduate of the University of Cambridge, London native, Nic Brisbourne has been working in the venture capital industry since 2000.  Brisbourne’s major focus is on software, media and a variety of investments.

“This business plan has two purposes, to introduce your company to prospective investors and as a document investors…can look to for additional information about the company” (Brisbourne, 2011).

I’ve written business plans before (i.e. class assignments), but I don’t think I was ever exposed to the specific purpose of the plan and what exactly was the point.  Yes it’s a document that gives an overview of your company.  However, I never really understood what would make someone want to read it and why anyone else would read it outside of a bank when your company was applying for a loan.

Brisbourne gives a basic breakdown of how to present the business plan and what to include in the plan itself.  Ironically, the business plan shouldn’t necessarily be the first document you would submit to a potential investor.  The first document you should submit would the Executive Summary.  The Executive Summary should be a stand-alone document.  “The reader should get a good high level feel for the whole business without needing to read any other part of the business plan” (Brisbourne, 2011).

Another expert in the business plan industry is Startup Professionals Inc. founder, Martin Zwilling.  Known as Marty in the professional world, Zwilling has accrued over 30 years of experience in software engineering, product management, and marketing.  Like Brisbourne, Zwilling feels the Executive Summary is a highly important factor when it comes to writing the business plan. 

According to Zwilling, some investors won’t  even scan through the plan if an Executive Summary is not included.  He also touches on what I call the “common-sense” factors of the business plan.  If you want an investor to take you and your business seriously, professionalism is key.  Typos and poor grammar is a quick way to diminish any positive regard you may have had before the investor attempted to read your plan.

Nic: Brisbourne: uk.linkedin.com/in/brisbourne

http://www.aonetwork.com/AOStory/What-Should-I-Put-my-Business-Plan

Martin Zwilling: http://www.linkedin.com/in/martinzwilling

http://bpexpertviews.blogspot.com/

Five Hard Lessons of the Music Industry...

Over two decades ago, the music industry had the association of sex, drugs, and rock & roll.  Even now it seems like every time you turn on the news, someone has died of an overdose.  With this reputation in place, it may make people wonder why anyone would want to immerse him or herself in this industry.  I believe it does take a strong personality to avoid the negative aspects of the industry, but even negativity couldn’t detour me from my dream.

In music producer, Butch Walker’s newest book Drinking with Strangers: Music Lessons from a Teenage Bullet Belt; Walker shares five lessons he happened to learn the hard way within the music industry:

1.              Do not believe that the first record deal you get is also the last deal

2.              Do not put the tattoo of anyone on your body (only if the person is

            dead)

3.              Be cautious of publishing deals

4.              Drink one glass of water every time you have some alcoholic beverage

5.              Recognize that on many occasions, it is all about favors and not

really about the song.

I’m sure there are many more lessons to be mindful of within the industry.  Walker takes a comical approach with sharing his hard lessons.  Number two and number four lessons would probably make more sense after reading the book.  However, one, three, and five seem like some pretty sound advice.

I’m so focused on getting that one record deal that it never occurred to me that there is always opportunity for more.  Something better than the previous deal could come along.  However, with this tip, does that mean you shouldn’t take the first deal you encounter?

The last few classes I have taken while working towards my Master’s Degree with Full Sail University had been very adamant of contracts and making sure you’re aware of all them terms and deals.  Publishing terms/contracts, are no different.

The last lesson reminds me that it is about you know in order to get ahead in this industry.  The talent may get you noticed but if you’re not associated with the right people, that dream can be halted.

http://www.hypebot.com/hypebot/2011/11/5-music-industry-lessons-musician-producer-butch-walker-learned-the-hard-way.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FDqMf+%28hypebot%29

Warner Music Group Front Runner For EMI Bid...

Warner Music Group is the favorite to win EMI Group ’s catalog of recorded music after bidding $1.5 billion to $1.6 billion, two people with knowledge of the talks said. Photographer: Chris Ratcliffe/Bloomberg

Even the music industry is feeling the economy strain…

EMI Music is considered one of the leading music companies worldwide.  Artists such as The Beatles, Snoop Dogg and Norah Jones have all added to EMI’s infamous reputation.  However, even with lucrative artists such as these, EMI Music was unable to keep up with the failing economy and had to come up with a plan to push forward. 

Six years later…

According to Adegoke and Damouni, Warner Music Group Chairman Edgar Bronfman Jr. is set to win the auction for the recorded music side of EMI (2011).

My question is what does a merger like this really look like for the music industry?  There are a variety of music label entities all around the world.  Warner Music Group is definitely a heavy contender in the industry and with an acquisition like EMI; this could be looked at like a monopoly.

Warner Music Group will now have an even more diverse population of successful artists that they will be working with.  This is a very lucrative opportunity for Warner but I can’t help but think how this affects the unknown musician.

We’re just getting started and trying to figure out what our niche will be in the music perspective.  A decade ago, you could create a demo and shop it around to multiple labels.  All you needed was one yes to get your foot in the door.  Now with many labels being bought out and placed under one umbrella, the yes opportunities are becoming few and far between.

Although I’m still in the process of preparation in regards to my music career an acquisition like this makes me nervous.  What if I don’t get the chance to live out my dream because the huge Warner umbrella said no?  They have to see a “product” that will make them money in order to take a chance on my unknown talent. 

Too many “what ifs…”

EMI Acquisition: http://www.reuters.com/article/2011/10/27/emi-idUSN1E79J1J320111027

Bloomberg: http://www.bloomberg.com/news/2011-10-26/warner-music-said-to-bid-1-6b-for-emi-unit.html

ASCAP merges with Spotify

What is Spotify?

Spotify is an online streaming music catalogue.  The entity itself provides access to millions of musical works.  From what I have been exposed to, Spotify resembles Pandora in many ways. The most obvious similarity is the online streaming music radio concept.  However, with Pandora, the user creates a station around a favorite artist and then Pandora applies music the listener may like based on the artist chosen.  With Spotify, the user is able to create their playlist, with music of their own choosing.

Recently, the American Society of Composers, Authors, and Publishers (ASCAP) entered into a U.S. Licensing Agreement with Spotify and their digital streaming music service.  So what does this mean?  According to the agreement, Spotify is licensed to stream the musical works of over 415,000 songwriter, composer and music publisher members of ASCAP.  The reputation that Spotify is building shows this is a huge impact on ASCAP members.

ASCAP members whom already have a decent following, now have a new avenue to reach their audiences; those members whom are just starting out have a larger demographic to utilize in regards to advertising.  ASCAP CEO John LoFrumento stated that ASCAP as a whole is elated to have entered into this agreement.  LoFrumento goes on to say this follows along with ASCAP’s commitment in pursuing fair payment for the public performance of its members’ work.

This is such an intriguing concept of networking.  ASCAP has a well-known reputation for how it takes care of its members and this agreement just solidified their consistency with their mission.  Spotify is not a new concept but they have found a different niche, that music lovers may find much more appealing than iTunes or Pandora has to offer.

I’m curious to see how successful this venture will be and what comes next. 

Maybe you’ll be hearing my music on Spotify soon!

ASCAP: http://musicindustrynewswire.com/2011/07/22/min4148_163707.php

Spotify: www.spotify.com

Putting together a Press Kit...

What do you mean I have to put together a Press Kit?

I’ve been pursuing my dream of music for seven years and yet I still feel like I am learning something new every day.  Currently, I am taking my ninth class in my Master’s program, Entertainment Media and Distribution.  So far, this is the most intriguing class to date.  I don’t know much about distribution and what needs to take place to get your work ready for that kind of process.

Last week, I was assigned a project to create a press kit.  I was extremely intimidated by this assignment.  I had heard the term press kit but I never really knew what it actually entailed.  I had never written my own bio or put all of my musical achievements into one source.  Anxiety started to seep in…

“Crafting an attractive and informative press kit is a whole new beast in the digital era.” –Donnelly, 2010

During my research of putting together a decent press kit, I came across an article by Tim Donnelly for Inc.  He stated exactly what I had discovered, “the meaning of the phrase press kit is evolving.  To me, press kits are an elaborate and/or creative resume.  An ideal press kit, involves highlighting your successes as a musician but also short enough to keep the attention of whoever is considering your talent.

Donnelly goes on to discuss, always have your press kit available to present at a moment’s notice.  Flash drive, email your link or have paper copies on hand.  Make sure you are using the most efficient format of distribution for your “brand.”  Between this article and the online session with my instructor, I really feel I grasped the concept of the press kit.  Although, I received full credit for my project, I’m excited to expand upon the kit.

Sounds like the start of something big…

Inc.com: http://www.inc.com/guides/2010/09/how-to-put-together-a-press-kit.html

My First Quarter...

I had an epiphany today.  I am coming to the end of the first quarter of my life and I am amazed at how much I have learned.  From birth to the age of 21, I think we have a tendency to feel we are unstoppable.  Nothing can touch us and if something bad does happen, we bounce right back.  Once I reached my senior year in undergrad, I began to realize that this mentality is not real...

I started seeing the world with a different perspective.  I was now an adult and I was now fending for myself.  Instead of depending on my parents, I had to start depending on God and my abilities to live my life.  Somewhere during this outlook of my life, I forgot my worth.  I forgot that I was priceless.  I forgot that I deserve to be treated with respect and loved in spite of my faults and weaknesses.

This entire year, I feel like I have completely turned my life around.  God had to allow the bad things to happen so the blinders would come off and I could see who and what was in front of me without bias.  I'm still pushing forward and upward even though I still have struggles. For the first time in my life, I am happy...even when I am sad or angry, I can't stay in this emotional state for very long.  I am genuinely joyful in the present moments and happy to know that God has my future laced with bright lights....so here's to the next Quarter!!