Future of the Entertainment Industry

     The entertainment Industry is forever flourishing and will always be needed to stimulate the minds of society.  Music, movies, television will always be apart of our culture.  Of course technology has changed the entertainment industry and will continue to keep changing the way the industry grows.  Distribution deals from underground artists will rise over the next decade.  More artists will be doing most of the work a normal manager would do.  Social media is allowing music and entertainment to stream across the net in ways that have never been possible. 

     We have come along way from the cassette tape to mp3 and mp4.  I believe my business is exactly what the entertainment industry needs.  A business that is accessible from just about any venue is portable, flexible, and available 24 hours online.  We treat all customers as clients.  We are highly invested in the success and happiness of our clients.  This is exactly what the future of the entertainment industry needs.   Trends such as blogging, on demand, fashion will all be continuously sought after and monitored.  Even items such as the home studio have taken on trends with new gadgets such as tablets to incorporate new ways to do music.  Issues such as intellectual property will be highly fluent throughout the future of the entertainment industry.  More precautions will be taken to protect music and our company will fit right in.  We will help the up and coming artist to fit right in comfortably and concentrate on their music while we do all the paperwork behind the scenes. 

     Location will become a factor, with major sitting stepping up to the plate to help expand and grow the future of the industry.  Social media will help media expand and reach different genres.  Music is shared every second of the day millions and millions of people sit on the Internet all day just downloading and listening to music and videos.  Many new brands will arise over the next decade that will set the pace for the industry. 

Financing in the Entertainent Industry

Financing in the Entertainment Industry

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      When obtaining financing most traditional businesses take the same route and try to obtain financing from a bank.  However since the economy has changed over the years and so have people and business alternative financing options have risen which make financing more readily available.  There are organizations and other creative ways to finance your business.  I even had someone explain that instead of going to school to get an MBA they took that money to start up their business.  Great idea, but too late for many people who have already attended college.  There are many resources available as far as funding goes. 

     One of the best websites I found for information on alternative financing is www.cfed.org.  Here you will find information on tax breaks, entrepreneurship, financial security opportunities, IDA programs, and even affordable housing.  Everything from funding for college students and handling household expenses can be found on this website.   They also provide a unique approach to helping families with household expenses and finances.  This is a great program.  If we can focus on good financial practices within individual homes this could expand to helping boost the economy. 

     Another useful website that helps many businesses with funding is NCIF.com.  They have part of their enterprise focused towards helping community banks.  Which is essential for many small businesses and mom and pop shops.  If your not looking for funding you can also find database tools, performance maps, and relevant links.  NCIF uses screening to ensure that social responsibility’s practiced during the entire lending process. 

     Lastly www.firstnations.org is a funding resource geared more towards minorities such as Native Americans.  The provide assistance with financial and investor education, combating predatory lending, native American business and asset development, strengthening native American non profits, and lastly native foods and health.  This website not only focuses on lending it focuses on overall business development for Native American business owners.  The main requirements include being of Native American decent.  First Nations is trying to build sustainability within their culture and build hope for their economy and communities in the future.  

Execution of Expert Advice on Business Plan

Execution of Expert Advice on Business Plan

     Through my research and brainstorming I have had great success in revamping my business plan.  I used the advice of two acclaimed experts, Carl Schramm and Simone Brummelhuis.  I plan to incorporate Mr. Schramm’s entrepreneurial advice.  Most of what he said has already been embedded because I believe I was born an entrepreneur.  Over the past decade while maintaining my college education I have worked numerous jobs that I didn’t like.  Almost all of them got old to me after the first day I really never developed any passion for them.  I have often been told that I have too much on my plate that I jump around a lot.  When in actuality of have passions for several different things.  As Carl describes I have been from real estate, to sales, and construction, to design and much more.  I plan to narrow this down and become more focused on those at the top of my list.
   I will take all this into consideration when writing my business plan.  I want it to be a unique niched out business that describes me and my passions to a Tee.  I am focusing on the mission state and the executive summary.  Some investors pay attention to this first and go from there.  I will perfect this to the best of my abilities.  For my final plan I will put the executive summary on the top of each page.  It will make the document flow better to an investor who doesn’t have time to fish through a big stack of papers.  By the information gathered from these two experts I will perfect my executive summary, place it at the top of every page, and describe to my investors the trends occurring now in my industry and how we fit. 

Expert Views on the Business Plan

Expert Views on the Business Plan


     Carl Schramm is not only a former CEO and President of the Ewing Marion
Kauffman Foundation he is also an expert PhD economist. Carl is very fond of the
entrepreneur and the business plan. As an entrepreneur I can relate to Carl’s list of
characteristics of an entrepreneur.
     He describes an entrepreneur as someone who in the past has worked at least
one job they didn’t like. Truth be told they have probably worked at a lot of jobs
they didn’t like. Entrepreneurs have worked in more than one segment of the job
market in their lifetime. They have probably jumped from real estate, to sales, to
construction, and beyond. Entrepreneurs are able to spot potential when nobody
else does. What others may see as a disaster an entrepreneur will see a mountain of
opportunities. Most of us have worked in a startup before. Entrepreneurs are the
ones that are not afraid to take a bite, they are not afraid of the risk of failing.
Carl is a bit different from your average and his way of thinking is not like
many others. Carl does not believe that a business should stick to its plan like a
book. How can one forecast what you do not know? They only thing you can do is
predict and try to meet or exceed those expectations. He is absolutely right. Every
company should have a written business plan but that is only for a reference point.
The direction the business takes is unpredictable it depends greatly on the success
of the business. Instead of reading a business plan when determining if he will in
vest in a business or not he looks at the companies state. Is this the time, has the
company already reached momentum? Carl’s take on this business plan is great
for an expert like himself who can spot a superstar. It is a great idea however for
someone new to this it wouldn’t hurt to at least read the business plans.
Simone Brummelhuis who is also an expert in the field of new business ventures
has an interesting take on business plans as well. With her background being
entrepreneurship and law she is well aware of the risks involved in startups. She
is also very familiar with the process and legal work behind it. Brummelhuis’s take
on the business plan focuses highly on the executive summary. She believes more
time she be spent on developing an excellent executive summary as this will benefit
the company the most. Investors focus on this aspect of the business plan more
than others so make it shine. She also believes in focuses on what is currently in
the making for the business. What are we doing today to ensure our success? This
should be included according to Simone.
The key components investors are looking for in a plan are the things that
businesses are doing now. Investors also look at the executive summary the most.
It’s important to make this section of the business plan perfect. Some experts even
suggest putting the executive summary at the top portion of every page in your
business plan. This plan is crucial because it’s the pitch that the investor reads. It
is his determining factor. This portion of the plan will actually get the rest of the
plan to be viewed if it’s good enough. Just like a movie has a great introduction a
business plan should have an awesome executive summary.

Carl Schramm, Straight Talk On business (2012) retrieved 11/25/12 from
http://www.bpexpertviews.blogspot.com

Eric Markowitz, How to Write an Executive Summary (2012) 11/25/12

http://www.inc.com/guides/2010/09/how-to-write-an-executive-summary.html

Simone Brummelhuis, Blog, (2012) retrieved 11/25/12
http://www.bpexpertviews.blogspot.com

Keeping up with Technology in the entertainment field

Keeping up with Technology in the Entertainment Field

     Technology changes constantly and so do trends in fashion and entertainment.  What's in one day may be on it's way out the next day.  So how do artists, managers and industry executives stay afloat?  They keep ahead of the trends and constantly receive ongoing education and certifications.  The more you know the technology the better your end product will be.  There are numerous ways artists and managers can groom themselves to stay on top of trends and changes. 

     We will start out with reaching out to your network and your PLN.  This is one of our greatest assets and we need to be able to utilize our network and the people we know effectively.  Secondly stay up to date with industry trends via the internet and social media websites.  Stay active with industry related blogs and RSS feeds where there is a wealth of information from a variety of different valuable resources.  Stay organized and budget your time effectively.  Ample time needs to be given if your goals are going to be met. 

     Keeping up with new gadgets and gizmo's are a plus when staying trendy in the  technology world and the entertainment industry.  Using a floppy drive and a PC with no graphics card and a small amount of memory will be detrimental to your career.  Music and video will be nearly impossible to make if you have out dated equipment.  There are plenty of resources that an artist for example can use to increase their skills.  Youtube provides lots of tutorials for learning just about anything.  Many other people are also using the same software and applications and can provide a wealth of information for research.