Saturday, November 26, 2011

Your Identity – Your Brand

We are constantly selling ourselves. A job interview, a first date, or when selling a CD we are always marketing ourselves to those that we come in contact with. The Internet has conveniently changed the way in which we market ourselves to the world at large. Preparing for this change and the way our image is viewed is a minor challenge. Allowing your company’s brand to be perceived with the same principles that we would like our personal image to be conveyed can be a daunting task. Maintaining core principles and not leaning from those principles makes ethical issue management habitually. Several experts in the entertainment industry stick to their personal philosophies for how they review business plans and products.

As mentioned in by article “Review of You!!!” Nic Brisbourne is firm in his belief that many business plans are written in a fiction tone. I’ve made sure to development my personal business plans with reality as the major backdrop. For example having a start-up company with 15 employees may sound simple but implementing a project using 5 employees is a sure deal in comparison. Making a definitive production scale based on 5 employees would also provide a more realistic production output in many cases since business plan checkpoints can be derailed at many points. This is just an example of miscues that could possibly lead to a non-realistic assumption of possibilities for your start up business.

Based on my experience in the music industry far to often independent entities insist on using artist approval as means to determine a catalogs success. However, the artist is merely a producer of the material and someone must relay the brand of the overall company other then a creative individual in this process. It is essential to appreciate the artist’s effort in making the creative work but the company must make decisions based on the companies overarching philosophy. Customer satisfaction should always be a deciding factor while constructing and carrying out your company’s brand identity more so then any other factor.

I see my income statement as being the most important portion of my business plan to a prospective investor. In some cases they investor may not be an expert in that particular industry. In such a case having clear financial data will allow an outside investor to make a decision based on cold hard financial information. It’s paramount to display these figures ethical and to an accepted standard so practically any investor can understand your companies future prognosis.


Outside Sources:

Finch, B. (2010). How to Write a Business Plan. Kogan Page.

Buzza, J., & Mosca, J. B. (2009). Create The Plan, Work The Plan: A Look At Why The Independent Business Owner Has Trouble Calling A Franchisee A True Entrepreneur. American Journal Of Business Education, 2(7), 113-118.

WarStation TV – Review of You!!!!! http://www.warstationtv.com/2011/10/review-of-you.html

Sunday, October 30, 2011

Review of You!!!

                There is nothing quite like a new product that you’ve wanted to buy before its release date approaches. Brand loyalty overrides the need for further insight before the actual purchase takes place. In other instances a quick overview of the quality of a particular product can be the determining factor on an actual purchase being made. Product/service reviewers have become more important as the internet has provided access to multiple items in a matter of minutes. A consumer of music and video games in particular have a plethora of digital products that can be purchased and downloaded in mere seconds due to advances in technology. Having honest reviews provided by industry expert can alleviate any anxiety leading up to the purchase of a digital product. The same can be said when analyzing a business plan. A trusted reviewer of any aspect of  business planning can ease tension during the creation process of these business plan.
                Steven Horowitz an editor for HipHopDx.com and YRB Magazine reviews music and music companies in both of these publications. Steven was a senior editor for Kiwibox Media Inc in which he posted multiple viral articles and discussed the marketing component of independent businesses in the hip-hop genre. Being capable of reviewing music products while also understanding the construction of independent labels marketing strategies makes Steven an excellent reviewer on a primary aspect of business plan development.
                Nic Brisbourne is an excellent writer who has written a couple articles designed to discuss and outline some components of reading a business plan. Nic is a director at WAYN and Tribold while being a holding partner at DFJ Esprit. He is considered an expert of consumer applications and services. Nic has highlighted the fact that many business plans are looking at forward progress and capital that has yet to be realize therefore making it a fiction story. He feels sure that investor should read these business plans with that in mind. Nic also feels that momentum is a key component to be looked over as the products/services come to fruition. Working to complete the goals aligned in your business plan are critical while remaining optimistic that things will happen that have not been planned. Being aware of this notion, while being willing to change to reflect unforeseen event can make a business plan stronger and more adaptable then competitors without such resilience.
                Business plans are like opinions since everybody appears to have one. Taking the time to properly document the events that create a successful business are paramount. Learning to take advantage of reviewers such as those mentioned in this article can leave a lasting impression on your business model in addition to your consumers.

Outside Sources:

PUSHA T SCORES WIN OVER LIL WAYNE

  https://hiphopdx.com/?p=881810