Business Plan Development
During these past 4 weeks in this course Business Plan
Development I have really learn how I can get my business going in the right
direction. My goal I had set to get out of this class was to
create a strong business plan, one that would lead my business to
very successful. As I begin to get into the course and learn more about how I
can strive to take my business into great place of success from reading the
material. I began to see that most of my original ideas were going to need
some mass tuning up and would have to start all over with executing everything
I needed to have a great plan. In the
course I have learned that I should have been growing my brand by selling
myself. Selling myself by using all my talents with displaying it on a resume
or a CD. With
learning how to sell myself, I have found a huge underserved market in my
specific field. I know where to place my advertisements and who to direct
them at now. This course has also taught me that my business plan must be
airtight with no mistakes anything that’s not close to being perfect could get
my plan tossed to the side. Learning the structure of a business plan I found
out real quick that it is very important. The financial aspect of a
business plan is really the closing deal to getting everything going. However After
learning these things of how important a business plan is very important, my
whole fame of mind changed. I really started to look at thing different with
getting my entertainment business off the ground. Now since I have learned some
important information in this course.I will apply what I’ve learned to my last project due next month
great. Once I have graduated, I’m really planning on revising my business plan
again before presenting it. I also intend to give people some of my knowledge
about what I have learned to those who are wanting go in the same direct as I.
Digital Marketing
As I’m starting to look back at my goal for this course which
was to learn how to emphasis on the development of effective marketing plans
that promote entertainment within a dynamic digital environment. I have started
to learn how to use social media to promote or advertise a business or a brand.
In my first week in this course I have learned what KPLs (Key
Performance Indicators) are. KPLs are simply the metrics that can be monitored
during a campaign to determine if the marketing goals are meeting the marketing
objective. I have also learned how to install and use Google Analytics. However
after learning about Google Analytics from the first week I have also learned
about two-keyword classification: Broad and Long Tail. Learning that Broad is a
1-2 word in length and they are generic meaning less specific. Long Tail is 3-5
or more words in length and they are much more focused meaning the result is
much more specific. I have also learned
about some demographic research tools and websites, which will help me with my new
skills such as Doubleclick ad planner, Quantcast and Alexa. I have learned how
to upload my sitemap to Google Webmaster tools. After researching companies in
the entertainment industry, I realized how much social media plays a big part
in their overall marketing efforts. How it helps the companies meet their
marketing objectives. As of now I am learning how to create a digital marketing
canvas for my business.
“At this
point I’m saying you should market in the day you live in since marketing is changing so fast.”(Vaynerchuk
2012) This
is why I would use this material I learned in this class a few different ways.
By using Instagram and Twitter for advertisements for my artists music. Facebook
and Youtube to promote their music vidoes and upcoming shows. These tools are
great because if one of my clients has a concert in a specific area, their fans
can utilize the feature and promote the artists show.
GARY VAYNERCHUK
https://www.garyvaynerchuk.com/how-to-market-your-business/
Entertainment Media Publishing and Distribution
During these past 3
weeks in this course Entertainment
Media Publishing and Distribution I have really learned a lot about
how things work with getting your product released world wide in the
entertainment business. I learned several distribution models and through the
assignments that were given I gain a better understanding. Working on assignment
such as creating a press kit, pitch/query letter and business strategy. These
assignments helped me choose the best distribution model and publishing for my
own creative content. I also learned about distribution, publishing, piracy,
social media, digital rights management, and legislation. Through
theses topic I really gained a great understanding of this side of the
business. The discussion boards also help me gain knowledge and understand on
why having an agent is important, how to obtain agent, what makes a good press
kit, and how media habits affect they way you distribute creative
content. However in this class I have really learned how to analyze how things
are changing in this new generation with how technology has advanced with
getting things out worldwide. Social media platform are a very
big key, with using Facebook, Twitter, LinkedIn, Instagram, or a combination of
them all and more server as great ways to connect to people all over the world. Learning
about other combination platforms and other server such as Cd Baby and
TuneCore. I gain the knowledge of how to publish my own music and gain my
overall profit less annual fees through these great platforms with music. This course
has really been informative and I would recommend for everyone that going or
thinking of going in this industry to take it in order to gain more knowledge
on how to publish and distribute their. This course really is a great start up
with the tools they provide to gain the most out of your desired field to be
successful.
Advance Entertainment Law
During these past 4 weeks in this course Advance Entertainment Law I have
really learned a lot about how things work on the legal side of entertainment
business. Learning about how important is to make sure all liabilities are
covered by getting insurance or using other legal documents to keep from being
involved in a lawsuit. I have also learned more about how copyrights work and
how registering your work can help play a big factor with making sure you keep
ownership of your work. Just in case someone feels like they are the creator
and think they actually have proof to show that the tangible item is theirs. Tangible
items I learn that can be register are letters, speeches, and
fictional characters. Non tangible items that can’t be register are ideas,
plots, concepts, facts, names, titles, short phrases, scenes-a-faire, stock characters,
procedures, processes and Pre-1972 sound recordings. I also learned with
copyrights that they can last as long as the author is a live plus70 years
after. However trademarks and patents are some other things I have learned out
of this course. Learning how to register my logo, name, number, design and
slogans at the U.S. Patent and Trademark Office to
protect my brand was very beneficial. This course has also helped my learn how
to fill out the legal documents to register my business, trademark and
copyrights. After learning and understanding all these things that I would
need to know to be knowledgeable about what is legal and what is not. I have
gained a great understanding of how to cover myself and my business. I now see
the right legal path that I would need to follow in order to become great in this
industry without any legal problems. This was a really informative course and I
would really recommend for everyone that going or that is in this industry to
take it in order to gain more knowledge on the legal side of it all.
Product and Artist Management
During these past 4 weeks this course Product
and Artist Management has really taught and helped see how to build a relationship
with consumer. I learned how plan and come up with strategies I would need to
help sell my product to a target market that can relate to my product. Learning
how to manage the relationship between consumers, to gain the best results in
the market to come out on top. I have also learn how to be a great manager for
an artist with making sure I can meet their need to help with making the best
decisions to guide their career in the right direction. This course has really
been a great guide with helping me understand the entertainment industry.
Especially from these videos I have watched: FastCompany
Article, 6 Leadership Styles and When You Should Use Them, Business
News Daily, What Kind of Leader Are You?, The American Customer -
Targeting Your Niche, and “The Future of
Social Commerce & Direct Distribution,”. The
assignments and projects have also helped me understand as well with making a
market strategy animation to explain my plans to market an artist, analyzing
artist manager’s decision with their artist, and knowing who are the major
players in the entertainment industry. After learning and understanding all
these things that I would need to know in order to manage and help gain great
success with consumers. I now see the right path I need follow to become great
in this industry. Just watching the video “The Future of
Social Commerce & Direct Distribution,” I feel served as the best
example of this course on behalf of the relationship with artist and their
fans. The video really explained the different tools that artist could use to
build relationships, which really open my eyes to want to use all the tools I can
to be successful in my career. However I am very thankful for this course and
really feel it would be a great help for everyone in this industry.
Negotiation & Deal-Making
During these past 4 weeks in this course
Negotiation and Deal-Making I have learned how to negotiate the correct way.
Learning techniques and different tools to help me in a negotiation. This
course has really given me the confidence to go into any negotiation well
prepared if I follow the simple steps I have learned. Steps such as researching
and getting all of my information about the other party that I would be going
against. I learned by following those steps it would put me in a place in
knowing about the other party and would keep me a step ahead. However not only
did I learn how to from the steps that would help me be well prepared into
going in a negotiation. I also learned how not to get too emotional when a
negotiation starts to heat up between myself and the other party. The video
that was provided in this course between the two realtors really provided a
good example of how not let your emotions take over when trying make a deal
with potential buyers to close a deal. I learned going off your emotions most
of the time could really make a negotiation have a negative outcome for both
sides, if both side cant stay in a clam space to handle things in a more
professional way. When things get to that point one person at least has to what
is more important and bring everything back together to come up with a solution
to handle that issue. In this course that’s where I learn how to use the
techniques to handle issues like that to help a negotiation run smooth and back
on track. Nevertheless after working through the three different assignments in
this course to actually see how things would be today if I was going into a major
negotiation and deal making meeting. I have incorporated different ways of how
to going into a meeting to get a very positive outcome for myself in the future.
Entertainment Business Finance
During these past 4 weeks this course Entertainment Business
Finance has been one of the most challenging but very helpful in opening my
eyes to see how much work I would have to put into my business plan to be
successful. I learned so much in this
course, especially how to breakdown everything I would need into managing a
business that would bring a great amount of revenue. Learning how to develop an
income statement, balance sheet and cash flow really helped me to identify where
all my money would go. After learning how to develop by identifying how
everything was broken down I have learn the next important key to a business,
which was the breaking even method. The Breaking even method severs as a big insight
to show a company how much money it would take to the point where a company can
start receiving all the money that has been put into the business. It also
helped as an overview to see if the business is moving in the right direction. This
course has really help me realize that in order for me to achieve my goals
ahead of starting my own record label I would have to make sure I have funds
and ways to bring in other revenue into my company to keep me heading in the
right direction, which after during my research on crowdfunding I learn other
ways. Learn what was crowdfunding and how it works in ways to help a business
with bringing in funds was very helpful for me. Nevertheless working through
the four different case studies in course to actually see how things would be
today if I had my own company was a very helpful insight as well because I
learned so much from just working through the case to figure out how thing are
done. This course really served as a great insight and I wouldn’t mind taking
it again.
Business Storytelling and Brand Development Discussion
During these past 4 weeks this course has taught and helped me to bring my brand to life. I learned how plan and come up with ideas to build my company from scratch. Learning how to develop my company overview, a brand identity to create brand experiences for my customers/clients, an entertainment business plan, researching the market, creating my company’s buyer persona, brand strategy, creating a protectable and relevant brand name, developing a tagline, creating a business model canvas, building my corporate culture, and creating my mantra or mission statement. This course really made me focus on everything that I would like to achieve with my brand and company by making sure I build a strong foundation to do so. After learning all these things to develop my brand, this course also helped me to create my company’s buyer persona and aim for the right target audience with the guidance of the PEST analysis. This course also gave me developmental tools to help me later on the future with my company that consisted of Claritas, BMFiddle, brand identity prism and USPTO.gov. However after doing all the assignments for this course I started to see how simple things were because at first everything seemed hard with trying to put everything on the right track to succeed. Taking this course I have also learned more about how to develop my own label, branding myself and developing a strong foundation to have a successful company. For example with the assignment entertainment industry research I learned the steps that I would need to take in order to guide my company and brand down the right path. I also learned how create a market overview and position statement to help me in developing a great background about my companies brand. This course really helped me see how important it is to develop a great brand with great story behind it to achieve success in my company
Project and Team Management Discussion
During these past 6 weeks this course has taught and helped me
bring out more of my creative side. I learned how plan and come up with ideas I
would need to finish a project from scratch. Learning how to develop my first
album in the industry research assignment really gave me a really good in-site
of how much work I would have to put in to have a success album. After learning
the things I would need to develop an album this course help to come up with a
successful budget and timeline to see every step, one by one in details of how
long it would take to finish the project with a well mapped out budget. However
after doing those things the course really made everything seem very simple to me
because the way I was visualizing everything before was not good. Nevertheless
this course really gave me the tool to help guide me in mastering everything I
need to develop a successful project. Taking this course I have also learned
more about myself and have developed more in some areas I was very weak in. For example with the assignment in the course
about conflict resolution I learned some steps that I can take in order to
prevent conflicts in my role as a leader. I also learned how to understand
different personalities and how to adapt to other when working in a team from
the character study assignment. The assignments in this course really help me
see how important it to get to know people personally. Also by using the DISC
assessment it really served as a very helpful and informative tool to help me
learn people’s personality better. So In this course I feel that my audience
will learn all tools I have learn from this experience of how to work with
people and understand their personality very well.
My Leadership Style
After readings and
discussion this month from these books The 48 Laws of Power by Robert Greene and
Developing the Leader Within You by John C. Maxwell. I believe I would use both
leadership styles with going into the entertainment industry. Although I know I
am much more of a Maxwell type of a leader but I would need Greene to help me
fight in this industry. Greene’s laws would give me the tools I would need to
making through the industry to be on top. For example Greene’s Law number
thirty-five Mastering the Art of Timing which consist of three basic time
frames long, forced and end time. Being able to master this Law I want only be
able to just secure myself in the industry but surpass further then I ever
imagine with using my wits at the right time to out shine the others. However
using Maxwell leadership style would be my base because of my personality and showing
some sense of care for others to see them succeed like myself. For example
Maxwell’s principle influence, which is base off of five different levels
position, permission, production, people development and personhood. I feel
that by me being able to influence someone to succeed in the industry from my
leadership would be a great accomplishment for not only the person but for me
as well. Going into the entrainment industry focused on becoming an artist
manager many scenarios will occur where I will have to be able play within the
game of industry to help make through all road blocks to clear up a great path
to the top. Being able to use both leadership like an on and off switch would
keep me in a ready state of mind to take on anything that comes my way in order
to gain respect. I feel that in this industry respect is not just given to you
because of the title you have in front of your name. Respect is earned by your
work ethics and things your have achieved to make you stand out. So by being
able to use both styles I feel that I will be able to have a long successful
career in this industry with secure path greatness ahead.
References:
Greene, R. (1998). The 48 Laws Of Power. New York: Vital
Source Bookshelf.
Maxwell, J. C. (1993). In Developing the leader within you
Nashville: T. Nelson.