Sunday, January 12, 2014

Failure is not an option, when developing a business plan

MOVIE CLIP OF APOLLO 13*

In this classic trailer of the 1971 featured film, Apollo 13 a phrase was once commercialized, “Failure is not an option.”* Although the Astronauts in the film could not afford to fail, studies show that entrepreneurs can fail and many times do. [1]This post takes a look at some helpful hints by Experts on developing a business plan that might work to reduce the rate of failure.

As this blog was created to investigate platforms for artist to take their vision viral, the building of a business plan is paramount. Success for Artist in building a business plan model can be fueled by embracing innovative ideas. A business must be willing to invent and then reinvent it’s strategies in order to sustain in the fast paced emergence found in today’s markets. Expressing that commitment in the development of a business plan can be effective during the planning stages. According to Ernest and Young’s publication, one way to win is to budget for innovation.

According to some experts, it is important to have a team that can embrace dedication to discovering groundbreaking ideas. Andrea Cockerton is and independent pitch expert and an Adviser in the United Kingdom. Having worked with more than 350 entrepreneurs during her career, Cockerton offers the following tips for creating a winning business plan.

Three Key Components
Target a growing market with a need for your product/service
Have a team with talent to back up the plan
Have groundbreaking ideas behind your product/service[2]

It is important to know the details of your target market and why they would be interested in the product/service your company has to offer. These factors are essential for convincing investors to support a business concept. The advice remains applicable for large corporations when expanding a new venture, as well. Executives of Disney corporation met with the challenges of understanding the competitive market in 2007. The production of the movie Chicken Little, was the first of all-computer-generated feature film for the studio. The studio was forced to keep pace with technologically advancements that audiences had come to favor in movies like Shrek and Robots.[3]

A VIDEO clip of CHICKEN LITTLE*

Kevin Geiger is considered an expert in the field of business planning. His success in featured films such as Chicken Little seen in the video clip above result in a suggested set of tips. When considering the design of an effective business model, Geiger offers the tips below.

FOUR TIPS
Explain how the investors are going to get their money back
Prepare a cash flow projection
Create a business plan presentation of 10 slides for investors
Select development and advisory teams [4].

SUMMARY

In Summary, artist who brand their business for success must be equally as creative in their strategic planning process as in creating their content. An effective business plan model will present this commitment in both the talent offered by the team as well as the financial budget. The presentation will demonstrate the qualitative research required to make the message concise and relevant. In a culture that is ever changing, investors look for business plans that can present the value for innovation. Application of these key concepts can help to avoid failure when designing a business plan.

VIDEOS:

* Chazzwozer, Apollo 13 – Original Theatrical Trailer. https://www.youtube.com/watch?v=nEl0NsYn1fU

Uploaded on May 28, 2007

* TheTrailerArchives, Chicken Little – Trailer, https://www.youtube.com/watch?v=Gpe2gPoGjOs

Published on April 3, 2013.

CITATIONS

[1] Johnston, K. Copyrights 2010 Ernst & Young

http://www.ey.com/Publication/vwLUAssets/EY_-_Igniting_innovation:_How_hot_companies_fuel_growth_from_within/$FILE/EY-Igniting-innovation-How-hot-companies-fuel-growth-from-within.pdf

[2]Expert Views on Business Plans http://bpexpertviews.blogspot.com/2012/08/andrea-cockerton-angelo-meneguzzi.html. August 9, 2012

[3] Stanley, T. L. (2005). 'Chicken' hit crucial for Disney's future. Advertising Age, 76(38), 6.

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[4]Geiger, K. Expert Views on Business Plans, Indie Film Business Side – Kevin Gieger. http://bpexpertviews.blogspot.com/2012/08/indie-film-business-side.html

Thurday, August 9, 2012

REFERENCES

National Center for the Middle Market 2100 Neil Avenue Columbus, OH 43210

http://www.middlemarketcenter.org/ways-to-fend-off-challenges-from-emerging-economies

http://www.amtcworld.com/assets/files/annual-report-final-091913-web-final.pdf

Sunday, December 8, 2013

Internet advertising can help artists build a brand

Research shows “consumer spending has more than doubled in the first half of fiscal year 2013.” [1] A large part of the spending has resulted from advertising on the Internet. The amount of money earned with leads generated from digital marketing is staggering. According to one Hub Spot How-to book, “$159 billion in retail sales were influenced by mobile in 2012 -- a much higher number than what is recognized in advertising.[2]

There is no argument that in today’s market it is important to consider advertising on the Internet. Seeing this particular blog was designed to investigate platforms that can help artists take their visions and go viral, it would show more than poor taste to ignore the value found in utilizing digital marketing. When building a brand the use of social media has become such a mainstay managers of artist must take into account that not finding the presence of a brand in social media can literally stir up suspicion. This post will take a look at some helpful tips for artists, when using social media for advertising

· HELPFUL TIPS
· SYNC THE SOCIAL MEDIA SITES
· TRACK THE AUDIENCE
· ENSURE INFORMATION IS RELEVANT
OPTIMIZE SEARCH USING KEYWORDS
· APPLY EFFECTIVE INTERNET ADS
· DESIGN A MOBILE MARKETING STRATEGY

Product Management Director of Vibrant Media says “ We’re in the midst of a great migration to portable devices and the opportunity for marketer is immense.”[3]. An Artist Manger must determine how to effectively apply this information when building a brand for the artist. When advertising on the Internet, using keywords can help build the density of the site and improve search engine optimization. Utilizing these tips can help to destroy the feeling by a visitor to the site that something is wrong. To ensure that advertising through social media will let the trend be your friend one recent Bloomberg video that says along with interacting with the community created by the social media site, “ blogs should focus on relevancy.”

Peter Fenton sits on the board of Twitter. In the video above he is discussing making Ads relevant on Twitter and other social media sites.[4]

SUMMARY

When considering the role digital marketing can play to advance the entertainment career of an artist, it’s important to investigate the information found on the social media sites. This exploration allows a brand to optimize the ability to draw in knew customers and maintain the presence of current visitors of the site. When considering the use of Internet ads, it is not enough to just apply ads. The ads must be strategically aligned with the interest of the audience. Resources like Google Ad Words, Quant Cast, and Alexa.com advance the ability to go behind the scenes of social media sites to research data on people who visit the sites. While the information is limited to expose such things as geographical location, age range, cultural ethnicity and interest, it is helpful to apply this knowledge towards improving relevancy of topics for a blog or website. By monitoring websites for information on viewers, keywords can be selected to help guide the audience intended to the site.

RESOURCES:

[1] http://online.wsj.com/news/articles/SB10001424052702304066404579125292312208918?mod=djemITP_h

[2] http://cdn2.hubspot.net/hub/53/file-396829583-pdf/How-to-Generate-Leads-with-Mobile-Marketing.pdf?t=1386113336000

[3] http://econsultancy.com/us/blog/63878-don-t-let-your-mobile-ads-be-unwelcome-guests-at-the-party

[4] http://www.youtube.com/watch?v=74ytTiDVjoY

Sunday, November 17, 2013

Two non traditional strategies to fund a movie

Seen here is

Shamar Moore.

He successfully raised more than $500,000 on the crowdfunding site indiegogo to help meet his funding needs. The Bounce Back is his upcoming movie to be seen in theaters soon. This actor turned writer offers some inspirational directions to obtain funding for a feature film.

This blog takes a look at the strategies taken to accomplish that. When considering some similarities and differences, a few factors appear relevant for artist who may be interested in identifying methods to obtain finances for their film.

seen here is Mellisa Gilbert featured in the upcoming movie, "One song"

seen below is Writer, Scott Thompson who successfully raised $190,000 to fund the film.

Talk show Host, Conan OBrian

Like Moore, Scott Thompson applied a non- traditional strategy, as well. His company ”My Town Productions has a unique grass-roots model, ” according to the article in CBS Minnesota. Scotts business,” My Town Productions pitched the movie to several cities looking for funders. Excelsior’s community came up with 51 percent of the $190,000 budget.”

Talk Show Host Queen Latifa

PROS

Some shared strategies used by both include the stunning artwork found on the cover of both the book and the trailer for the movie, the logline, and the interesting synopsis as reviewed in the clip above. As tools for marketing and advertising, the use of social media, and attending Talk Show interviews is required as seen above in the clips.

Both strategies rely on a positive aspect of creative financing that allow investors to become more closely involved in the making of the film. Not only are investors and other community members invited to play a role as an extra in the actual making of the movie, additionally, they receive the same advantages as any other major actors. Investors who commit to this venture are allowed to attend the premier and the after party for opportunities to celebrate and network.

CONS

In the clip, Moore discusses the role of the traditional financier. He makes reference to the power they often flex when casting calls are underway. In this pitch, Moore ensures non traditional investors the performances in his movie are keeping with high expectations, without submitting to the high cost of including a line of A- list actors. He suggests that reducing the risk of pressure from powerful film executives is one element that makes raising funds through Indiegogo more advantageous than the pursuit of a traditional loan.

One downside to raising funds through city shareholders as expressed in this example, is the loss of ownership for the intellectual property rights. Contrary to one of the major benefits of seeking permission for copyrights, the ownership of the film is turned over to the City of Excelsior, MN.

SUMMARY

In summary, seeking a loan is not an act that is discounted when trying to obtain funds for media publishing. Research supports the realization that emerging trends allow for alternative solutions. When considering the followership available in social networks or current platforms within entertaiment, it is important to build from the current fan base. By comparison, other forms of media including books, magazines and songs may not take as much to produce as the production of a film. When considering some non-traditional options for raising funds to produce a film, both idiegogo and kickstarter offer opportunities to seek crowdfunding. Pitching your idea to an investor such as a city, may deliver a larger budget upfront, but it is important to consider the requirements of copyright status that may be lost along the way.

References: