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Saturday, March 30, 2013

Good Friday

Wow! What can I say?! I can't believe it's finally the end. I know on
the calendar, we celebrated Good Friday yesterday. I must say,
yesterday was indeed a Good Friday that I will never forget. Graduating from
Full Sail University with my Master of Science degree has changed my life
completely.

I began the Entertainment Business Master of Science program in
January 2012. When I started, I had only dreams of being an
entrepreneur. This program forced me to stop dreaming, wake up and
make it happen. I learned so much from each and every class. From
operating in different styles of leadership, to creating a financial
pro forma for a business. I learned the details of a business plan,
how to write one and even how to properly gather a three year projected
financial proposal. I am so grateful that I learned the ins and outs of product and artist management. That is the segment of the industry that I have chosen to work in. The class and the assignments have me a heads up on what I should expect.

I cannot begin to explain my gratitude of every instructor, classmate,
advisor and tech support agent. Attending Full Sail University has
pushed me into an endless pool of networking opportunities. This non
traditional, real world school has prepared me for embarking in the
industry far more than I could have ever imagined or ever done on my
own.

As a result of this program, I am now preparing for the official launch of my artist & musician entertainment company. This would all still be a dream if it wasn't for Full Sail University.

Now... It's "Go Time"


Monday, March 4, 2013

Business Plans


What’s the use of having a Business Plan?

This is a question that I asked myself, prior to beginning the Entertainment Business Master of Science Program at Full Sail University. In the detail of the degree, I knew that I would get the answer that I had been seeking. Throughout my time in the program, I have gathered great insight and help on the necessity of business plans, how to create them, and how to make them effective.

I have learned that a business plan is not only useful in finding ways to obtain lenders for the business, but also for serving as a blueprint for the company leads. In my own experience, the creation of my business plan has allowed me to see the big picture of the company. It gives me no choice but to see the reality of each element of the business. From researching experts and their take on business plans, I have learned that, like many things in life, “all things never go as planned especially in show business.” That is a quote from Carl Schramm during his Straight Talk on Entrepreneurship.  It is definitely good to have an outline, and an initial plan; however, one should be able to move with time. Carl also said “If you live by your business plan, you may not only hurt your business but your ego.”

I feel that with this reasoning, in an effort to have a completed business plan, it is necessary to cover all elements, even if they seem redundant; however, I find it necessary to really focus on those elements that may be the most important to the investor reading the plan. To me, those elements are the Target Market, Competition, Marketing Plan and Financials. I see these elements as the ones that really make you aware of the actual need or success of the business.