Sunday, November 20, 2011
Digital World
Finally, music is going digital. So, is there any need in having a major label? I say, yes and no. Yes, because of the funds and resources they have. No, because of there detriment to creativity. It is possible to have success without a major label. Though it may be harder to reach the masses. With iTunes becoming one of the most popular ways for consumers to purchase media, artist no longer have to worry about distribution. The Internet is a key source in promoting your music. Americans spend approximately 32.7 hours online according to IT Facts. Nearly double amount of time that is spent on T.V. The industry has yet to see an artist embark solely from the digital world. Perhaps it is time. The path is clearly showing that this will be the new formula for upcoming artist(s). However, the industry seems to still be in panic mode and is still scared to embrace the powers of new technology. Maybe its because they wont have lavish pay checks. Or, they could still be complacent. Whatever the cost, it is my belief that music wont only be distributed digitally but it will be marketed and promoted digitally as well. This is the new era of music and I hope that all music enthusiasts are ready for it.
Sunday, November 6, 2011
Business Plan Vitals!!
It would be wise for all entrepreneurs to give detailed and descriptive analysis of the financial portion of a business plan. It is also obvious to give the aforementioned information on the company description. I say this because why would anyone invest in a company; if they cant see a profit? I know I wouldn’t. Also, if your company doesn’t have a clear vision on what it is, consumers wont either. I will say however, the financial section is vital to gaining potential investors. The Entrepreneurs Help Page agrees with me as well stating “The Financial model. Good plans share the company's cash burn rate, working capital and capital investment needs and timetable to breakeven on a cash flow and operating profit basis. In addition, investors seek information regarding projected revenue growth and sustainable operating and cash flow margins (Powers).”
Tim Berry has made business planning his number one focus and host a blog on how to start up new businesses. You can find his blog on timberry.bplans.com. On his blogs he introduces new ways to spice up your business plan. He also introduces new software that is helpful for the creation of business plans. With that information, he gives advice on what it takes for a new business. A recent blog post that really helped me out was: Why the bank won’t finance your business plan. I've always believed that solely having a business plan would help in getting future funds from banks, investors, etc. I had no idea that getting a loan off of a business plan was illegal. Sure, I knew that the bank would need some type of collateral, however; I believed if they saw the vision of your business, then that would grant loans. Tim Berry’s blog site is extremely informative for the naïve and novice. According to his blog he describes himself with the following passage:
I’m on Twitter a lot. Business Week included me as one of its top 20 entrepreneurs to follow on twitter in March of 2010. And the New York Times included me as number six in the top 11 companies to follow on twitter in June of 2010. Business Insider includes me in top 20 entrepreneurs to follow in December of 2010…I’ve spent a career in entrepreneurship and business planning. I teach planning with my own company, and for 11 years as an adjunct professor at the University of Oregon, and in published books and software, and in speaking engagements for the likes of Apple Computer, Autodesk, Progress Software, USASBE, Academy of Management, and so on. In 2007 I won the USASBE (United States Association of Small Business and Entrepreneurship) Corporate Entrepreneur of the Year award and a USASBE award for teaching (Berry, 2011).
Berry, Tim. (2011). Introducing myself. Retrieved from
http://timberry.bplans.com/introducing-myself
Powers, Mark. The five most important items to incorporate in
a business plan [Web log message]. Retrieved from http://www.tannedfeet.com/readers_lisaspringer.htm
Tim Berry has made business planning his number one focus and host a blog on how to start up new businesses. You can find his blog on timberry.bplans.com. On his blogs he introduces new ways to spice up your business plan. He also introduces new software that is helpful for the creation of business plans. With that information, he gives advice on what it takes for a new business. A recent blog post that really helped me out was: Why the bank won’t finance your business plan. I've always believed that solely having a business plan would help in getting future funds from banks, investors, etc. I had no idea that getting a loan off of a business plan was illegal. Sure, I knew that the bank would need some type of collateral, however; I believed if they saw the vision of your business, then that would grant loans. Tim Berry’s blog site is extremely informative for the naïve and novice. According to his blog he describes himself with the following passage:
I’m on Twitter a lot. Business Week included me as one of its top 20 entrepreneurs to follow on twitter in March of 2010. And the New York Times included me as number six in the top 11 companies to follow on twitter in June of 2010. Business Insider includes me in top 20 entrepreneurs to follow in December of 2010…I’ve spent a career in entrepreneurship and business planning. I teach planning with my own company, and for 11 years as an adjunct professor at the University of Oregon, and in published books and software, and in speaking engagements for the likes of Apple Computer, Autodesk, Progress Software, USASBE, Academy of Management, and so on. In 2007 I won the USASBE (United States Association of Small Business and Entrepreneurship) Corporate Entrepreneur of the Year award and a USASBE award for teaching (Berry, 2011).
Berry, Tim. (2011). Introducing myself. Retrieved from
http://timberry.bplans.com/introducing-myself
Powers, Mark. The five most important items to incorporate in
a business plan [Web log message]. Retrieved from http://www.tannedfeet.com/readers_lisaspringer.htm
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