An Amazing Journey

This has been an amazing journey. I expected to have a great experience in the Entertainment Business Masters Degree Program at Full Sail University and I was not disappointed at all by what I experienced one bit. The program challenged me to not only do my best, but to get better at continuing to do better. It allowed me to master some very vital skills that I have already begun to contribute greatly to my achievement of success in the entertainment industry. These skills are helping me advance in my career and are helping me leave my mark on the world. I believe in my drive and my care for people and that the world will be better because I was here, simply because I chose to make a difference. My pursuit of this degree was driven by my sincere passion and love for entertainment.  Now, I feel confident in my ability to be able to serve those who would like to be entertained in the spirit of integrity and excellence. My areas of expertise are in the music industry with some knowledge in theatre, film and television.

Final Project: Business Plan

I would like to start by talking about where I ended up. The last class of this program was like a grand slam home run hit for me. It brought home all of the other classes that were taken before this one.  They were all a hit too and each class helped me get on base and right on tract for where I wanted to go in my career. This class that I am referring to is the Final Project: Business Plan Course. It is in this course that we completed our final business plan. The completion of a business plan is a very tedious process. It requires a lot of hard work, precise planning, and paying close attention to detail. With the help of my instructor Bill Thompson, he made everything make sense. He personally brought a wealth of knowledge and experience to the class that added to my experience and what I learned.

I learned what investors are truly looking for in an investment and what things are important when they view a business plan. I also learned why a potential investor might overlook a business plan. I learned what resources are available for new business owners as well as resources for those who are looking to expand or grow their business. I believe I acquired the appropriate skills that will allow me to take ownership of the right business opportunity if one is presented with a potential employer. I can also be a successful business owner if presented with that opportunity. At this point, I will never stop learning and working hard to become better at what I do. If that means learning a new skill or continuing my education or taking a chance on something new, I am willing to go in order to grow. I truly believe my greatest asset is the ability to adapt to any situation and come out on top. The Final Project Class helped me realize that.

Mastery: Personal Development and Leadership

This program started with the Mastery: Personal Development and Leadership Course. This course was an introduction to the master’s program and it helped guide us through the rest of the journey. The objective of this class was to help us set our goals for the program and create an expectation for what we planned to achieve.

It taught us how to use historical case studies, anthropology, leadership science, and neuroscience. This course helped us gain an understanding of what mastery means and how to use this concept for our own personal development. This was the first step in our journey from being a successful graduate student to becoming a master in my chosen field.

I gained an understanding of the importance of personal development. I received some tools that will help me continue to develop and sharpen my skills beyond the completion of the program.  I learned valuable research technics and skills and I learned how to present that information for valuable use. I was able to plot out a course of action for the future my career in the entertainment industry and I decide what areas I would be most effective. This class prepared me and gave me the foundation to build on as I continued to go through the program.

 

Executive Leadership

 

The next course was Executive Leadership. We learned the characteristics and attributes of a good leader. The level of effectiveness can be attributed to your style of leadership and how you relate to the people you lead. In the entertainment field leadership is extremely important. Billions of dollars are generated in this industry annually and competition for those dollars is fierce.  Effective leadership can make the difference in who makes the money and who does not.  We explored the effective decision-making processes, how power and influence works, mentoring, leading organizational change, and investing in and managing relationships to achieve business goals. This was an extremely beneficial course and will help me be an effective leader in the entertainment industry.

 

I learned in this program that everyone is not expected to lead and those who lead are not always effective. I learned that my leadership style is more of that of a servant leader. We explored this type of leadership through leadership expert John C. Maxwell. He has proven skills as a leader we study his principles with regard to leadership. We also studied author Robert Greene and his book the 48 Laws of Power where he outlines a different approach to leadership. His approach was a little harsher as a leader, yet it was still effective. Learning these different approaches to leadership will help me deal with other leaders and work with them better according to their leadership style.

Project and Team Management

In the Project and Team Management Course we were responsible for learning two main objectives. The first involved learning the principles of project management and the second objective was to explore the various factors of team management and creating a productive team. These are important skills to have and equally important to continue to develop.

I was responsible for the preparation and implementation of a plan for completing a project. I also had to manage a team and be responsible for everyone’s actions on the team. Managing projects, meeting deadlines, and organizing people requires a lot of patience and knowing how to work well with people. Patience and working well with people are skills that I have. I also believe I communicate well with people. Some of those skills that were learned from the leadership course also kicked in when it was necessary to complete the tasks for this project. It was a great experience completing the project for this course.

 

Business Storytelling and Brand Development

The Business Storytelling and Brand Development Course was really good. We learned the importance of having a brand, developing that brand, and managing it to yield positive results in the marketplace. We looked at and researched strong brands that currently exist in the industry and those that have maintained a superior brand identity for years.  We also learned how to use storytelling principles to strengthen a business and deliver a superior customer experience. Lastly, we were able to develop our own personal brand identity and create tools for real-world business use.

As we create our own personal brand identity, I developed the skill of how to identify a strong brand. I am now very confident that I cannot only identify a strong brand, but I can help a company develop their own brand. I am also able to manage that brand and help it to stand out amongst its competition. Brand Management is a good skill to have and it is some that I can offer.

Entertainment Business Finance

The Entertainment Business Finance Course focused on the financial decisions and issues facing the entertainment industry professional. Finance is a very important part of the entertainment industry and very important in business. In this course, we were able to identify and evaluate entertainment business opportunities and projects using financial principles, while also learning how to raise the necessary finances to fund an entertainment company and/or project. We developed financial projections including startup funds and pro forma income statements for our own business as well.  We also learned about capital management, operations expense management and personal finance.

I am now able to make financial projections and also forecast sales numbers. I can create Pro Forma Financial Statements and I can read them and collect appropriate data from them. I am also able to analyze financial statements and make suitable business decisions based on my findings. I know how to raise capital for an entertainment business venture or a project and how to utilize alternative funding resources such as crowd funding. Lastly, I can research various trends and discover certain patterns that may exist in the entertainment industry based on reading financial information.

Negotiation and Deal-Making

During this course, I had the opportunity to interview several leading negotiators who operate in the entertainment industry. I spoke with an entertainment attorney, a sports agent, a radio station manager and a recording studio owner. Lorenzo Parker who is the owner and founder of  Pro-Actus Sports & Entertainment, Marketing and Management  was kind enough to allow me to interview him and he gave me some real life scenario about his negotiation and deal making tactics. I also had the opportunity to speak with and interview Mike Holloway, the CEO of Walking On Water Productions, Caleb Foster who is the station manager for the 1440 WDJR radio station in Detroit, Michigan, and Jerry R. Caldwell, Esq. of The Caldwell Law Firm, P.C. They all were able to give me some very practical scenarios on how they handle negotiations and deal making. The course Negotiation and Deal-Making was one of the highlights of the program. This is a skill that I acquired that will allow me to be better at brokering very lucrative deals. These are considered essential business skills that enable entertainment business professionals to grow companies, establish a strong business presence, and enhance product development. This course allowed us to explore the skills needed to become a strong negotiator and dealmaker.

When it comes to negotiating, I am very self-aware and confident. I have some critical negotiation skills and tools that I can use when I am making any deals for myself or for my clients. I understand the different concepts for negotiation and the preparation that should take place prior to a negotiation.  I understand the development of deal memos and contracts and when it comes to making it happen, I can get the deal done.

Product and Artist Management

Artist Management in the music industry is a really big deal. As an artist, choosing a manager is serious business. A manager to an artist is like gas to an engine in a car. Without the gas, the car will not be able to get very far. Pushing or pulling can move the car, but it will only take it so far before it loses momentum.  Gas in a car is the difference between a car that is moving up and down the highway and a car that is sitting somewhere stranded on the side of the road. This is how a manager should work for an artist. A manager should help fuel an artist’s career. This is an area that I already had some experience going into the course. This course developed my skill level even further and exposed me to additional resources. The Product and Artist Management Course addressed management issues and scenarios that apply to artist management and gave us tools and strategies to help resolve those issues. We also looked at product management and its unique issues including the interconnectivity of artist and product management activities.

I developed a complete artist management plan that included producing an event. I have had several years of experience working in this area. It required us to create a budget, find an appropriate venue, and do marketing and promotion for the event. It is a very involved process and it requires paying close attention to details.  A presentation of this plan was also created and presented. I also explored the concept product management and in relationship to artist endorsement deals. This required me to develop and detailed plan as well. The plan had to show why a particular artist or celebrity would be right for endorsing a specific product. I know how to administer the proper testing and how to develop the proper plan to make sure the appropriate match up will yield considerable financial results. I can manage both artist as well as product development.

Advanced Entertainment Law

I plan to attend law school some time in the very near future. I literally could not wait to get into this class. I took a law course during my undergraduate studies and I did well. I also received some great recommendations from my instructor. I anticipated that this class would be equally beneficial if not more. I was not disappointed at all. This course explored advanced topics related to entertainment law, with an emphasis on entertainment contracts and intellectual property protection. We explored how the digital revolution has impacted the entertainment industry and learned strategies for protecting and exploiting rights within the digital domain. Our focus was on the role that entertainment law has played in the industry’s evolution.

I am able to review contracts and interpret its meaning. I can research various aspects of entertainment law and review case studies. I understand the impact of entertainment law on the entertainment industry and how evolving trends are affecting the way contracts are structured within various industry sectors. This class added to my firm knowledge of copyrights as well. Throughout this course I was also able to establish a relationship with an entertainment lawyer. In an effort to stay current with some of the legal issues surrounding the entertainment industry, I was able to catch up to and have a conversation with attorney Adrian D.Cranford, Esq. In an interview he shared with me some of the cases he has been responsible for dealing with as it pertains to entertainment. I learned a lot from him and in this course I learned that there are many legal disputes and controversies that arise in the entertainment industry when the law is broken or legal responsibilities are not adhered to. I am now more aware of legal issues that can arise and I am equipped with the appropriate information on how to become legally educated and also how to add the proper legal representation to my team.

Entertainment Media Publishing and Distribution

This was a very important class. I learned that after you are finished producing or creating a project you have to understand and know the best way and different channels for getting your project to the people. The Entertainment Media Publishing and Distribution Course focused on issues currently affecting media publishing and distribution. We were able to study traditional as well as new digital publishing and distribution models. We addressed issues within the industry such as piracy, social media, digital rights management and legislation. We also explored strategies for protecting and monetizing creative content and how to utilize traditional as well as new distribution models to develop a publishing and distribution plan.

I can create a publishing and distribution plan for various sectors within the entertainment industry including music, books, film, and the theatre industry. I understand how traditional publishing deals work and I am familiar with the new formats that exist. I know how the traditional distribution formats work and the new formats that include digital distribution. I can create an entertainment media publishing and distribution plan and I know how to do the proper research. During this course I also had the opportunity to interview Ms. Vanessa Lynn at http://www.vanessalynn.info/ who is a writer, director, producer and an author about her journey of self publishing her own book. She shared with me her process and the pros and cons of self-publishing vs. having a publishing deal. I gained a great deal of personal knowledge from her and throughout this course.

Digital Marketing

I am very familiar with a lot of the marketing principles because I studied marketing as an undergrad and I have a marketing background. However, this course took my understanding to another level and added the element of digital marketing. The Digital Marketing Course focused on the development of effective marketing plans that promote entertainment within a dynamic digital environment. We learned digital marketing through a combination of hands-on exercises, case analysis, and current industry research. We explored how to coordinate marketing initiatives across online and offline channels and between Desktop and Mobile audiences. I

I know how to create, develop and measure an effective digital marketing plan. I have the skills to develop a professional presence online and how to reach people where they are. I know how to do the appropriate research to find the right demographics and discover the appropriate target market. I can create various digital marketing campaigns including online email marketing, social media marketing, and mobile marketing campaigns. This course was very valuable in giving me the necessary skill set to administer digital marketing technics.

Business Plan Development

It was in this course that we began to develop our final business plan. The business plan has the ability to serve as a guide on how an organization will conduct its business objectives and can also be used to obtain funds from an outside investor. It was in this class that all of the pieces from the other courses would begin to gel together. The Business Plan Development Course required us to incorporate the business skills we developed throughout the program into research for our own business plan. In this course, we were able to draw on our business, management, and technical knowledge to create and develop a formal business plan. It was in this course that it all began to hit me. I realized what all of the hard work prior to now was all about. I realized that everything I had done in the program up to this point was to help me complete this business plan.

I know how to write and present a complete business plan. I understand all of the very detailed components that are necessary to go into this document and what makes the plan effective. I understand what potential investors are looking for when they view a business plan and I also know where to go to find those who potentially may be willing to invest. The hit TV show Shark Tank was also a very valuable resource that I was able to study and use to understand best practices for presenting to a potential investor. Creating a complete business plan is a very valuable attribute to the skill levels I am able to offer in the entertainment industry and I am happy that this is a skill set that I possess.

Show Me The Money…

When setting out to pursue a career in the entertainment industry it can be quite expensive. It’s important that you don’t go into this pursuit blindly. You should actually count up the costs. It even helps if you approach your career like a business and look at all that you put into it as an investment. When you do that, you begin to realize very wise investors only look to invest in those things that have the potential to earn them a return on their investment and a profit. This is important information because as I stated before, a career in the entertainment industry can be quite expensive. If you don’t have all the money you need yourself to fund your career then you have to be able to gain the interest of an investor. That means knowing how they think and thinking the way they do when presenting your business to them. With that in mind, I want to look at some alternative ways of funding your career through a business concept. I also want to point out a few resources that are available to you in that pursuit. So in the words of Jerry McGuire from the movie, “Show Me The Money…!”

            According to the U.S. Small Business Administration, one of the main reasons businesses fail is insufficient capital(money). This is in part because lots of businesses don’t know what to do or where to go to get funding. Here some resources for businesses to consider.  The Association for Enterprise Opportunity or AEO is a national membership organization and voice of microbusiness development in the United States. They help entrepreneurs support themselves and their families and contribute to their communities through business ownership. Their mission is to create economic opportunities for underserved entrepreneurs. This gives entrepreneurs access to loans and various other resources through  their membership. They also provide mentorship opportunities to help guide a new entrepreneur through the business process. Please check out their website at http://www.aeoworks.org. The site to check out is http://www.cdfi.org. The Community Development Financial Institutions or CDFI Coalition is another viable resource for funding. Their mission is to encourage fair access to financial resources for America’s underserved people and communities. If your business idea is one that can help create jobs and provide economic development in what is considered a distressed area, you may have access to funding to help support your business.

            These are only a couple of resources that are available to entrepreneurs to help them get funds when their efforts are focused on meeting the needs of a specific group. In this case it is those that are underserved. You business may already be set up in this capacity, which is great. If not, you may want to consider restructuring if it will help you obtain funding and meet the needs of your preferred consumers. The advantage to this is that it gives your business an alternative source for funding. However, if your business is not already set up to meet their criteria, it may be difficult to restructure your business. I hope this helps you in you search to find ways to fund your business!

-Mike Sears

Mastery and The Business Plan

Over the past year and a half I have been on a journey to complete my masters degree at Full Sail University in the area of Entertainment Business. In one word, this degree program has been amazing! This one course has simply brought together all that I’ve learned throughout the program, pushed my efforts towards my final goal further, and helped me set my standards even higher. The Business Plan Development Class has helped me see the real worth of all the information that was acquired prior to this course within this program. This course definitely helps to prove mastery in the area of entertainment, more specifically for me, the music industry. I have spent most of my life getting experience in different areas of the entertainment industry as well as going through other methods of formal education and special training. All that I have done up to this point has been extremely beneficial and helped me to grow as a person and in my career. In addition, this course has given me more depth of knowledge and adds to my level of expertise and mastery. This was my goal when I started the program and now that I am in this course, I truly feel like I have become an expert.

Writing a business plan can be a very arduous task. However, with the insight of Mr. Steven Burloe and his expertise, he has be extremely helpful in his instruction that has assisted in bringing all of the necessary pieces together. Once this plan is complete, I plan to use it to help guide my efforts in my career and to also assist with securing financing for my business. A good business plan is necessary for both and this course has helped me complete this accomplishment in a very proficient way. This course has taught me how to organize the information that needs to go into a business plan and how to search for the appropriate information. I feel that I now have the tools that will help me operate a successful record label and entertainment company. This course will also help me advance my career as well as assist in advancing the careers of others. I am looking forward to the next phase of my life as I take away from this program and this course essential keys that will help me unlock the doors to outstanding opportunities and help me embark upon the next chapter of my career. I can hardly wait!