Pages

Wednesday, September 18, 2013

My Final Assignment for my Masters in Entertainment Business from Full Sail University

Program Reflection
Over the past year I almost gave up and quit school; however, with the help and support of my family I have made it to the final assignment for my Master’s Degree in Entertainment Business. It is scary and exciting because the next step of my life is about to begin. For my final blog posting, I would like to reflect over the past twelve months by summarizing what courses I have taken and what lessons they have taught me.

Media Literacy and Research Methodologies
This was the first class in this program that taught me how to utilize new technologies to further my experience and leadership skills as well as improving my overall online presence. Prior to taking this class, I didn’t realize how important it was for someone to have a good online presence; however, after applying the concepts I learned, I was able to successfully improve that presence. I did this by making my social media profiles private so potential employers wouldn’t be able to look and judge me based on my personal profile. I also paid more attention to my LinkedIn profile as the course showed me how big of a tool this could be for finding future job and networking opportunities. Furthermore, I utilized the research methodologies, tools, and processes taught in this class to improve my overall writing ability and knowledge of the industry as a whole. Finally, this class allowed me to see what caliber of work would be necessary for me to achieve my end goal of having a 4.0 GPA.

Executive Leadership
The Executive Leadership class was one of the most helpful classes to me as it allowed me to understand what qualities were needed to become a successful leader in the entertainment industry. The class enabled me to experience and decide what needed to be done in different scenarios that I would potentially face as a boss in the future. These scenarios weren’t decided solely on my own opinions but by the books that were provided in the class. The two books that we had were The 48 Laws of Power by Robert Green and Developing The Leader Within You by John C. Maxwell. After reading these books, I learned valuable lessons on how to approach different situations that I might come across as a leader in the future. These two books are something that I recommend to anyone that is looking to better their overall leadership skills as the concepts in the books are something I will be using and applying for the rest of my life.

Project and Team Management
This class allowed me to learn how to plan a project, properly budget it, and how to properly manage a team to execute said plan. Over the course of this month I researched and planned a concert for a band that I was working with at the time. This included researching the potential problems that arose as well as the costs associated with successfully completing that plan. When I was planning this project and putting down on paper, it made me realize just how much work something like this takes. The amount of effort in your planning will directly affect the outcome of the event that you are working with. I learned that it is important to write a plan or timeline out so you can check your progress along the way. This way if you are lacking behind or accidently forget something on the list, you won’t be left with a failure. Finally, the class allowed me to experience and decide a course of action for different failures that I would face with my team in the future. Knowing how to properly approach these situations prior to them happening, is something that is a very viable asset to have.

Business Storytelling & Brand Development
I was really excited to start this class because it was finally a class where I could start researching and working on my idea of opening a live entertainment venue. This class overall allowed me to research how other companies were branding themselves, which helped me understand how to make my own business brand become successful. The final assignment in this class was a keynote that touched on how we would begin marketing our brand to our customers. This keynote was kind of like a rough draft of how my business would actually reach its customers and how it would make money. Ultimately, it allowed me to realize that I couldn’t wait to tell my brands story to people. I was super excited and finally realized that this idea was truly my dream and what I would love to do for the rest of my life.

Entertainment Business Finance
This class was one that I was really excited for as well because I have always been involved in finance and accounting as I have grown up around it. My dad has been a certified public accountant for the past 20 years and I have continually learned from him working by his side for the past four years. Finally being able to that experience and apply it was something that really exited me because I would be able to impress my dad. 
The final assignment in this class was a pro forma financial statement for the live entertainment venue that idea that I had come up with in the previous month. Being that I had worked in venues and the industry for the eight years, it gave me insight on how much exactly everything cost when running a venue. The pro forma statements included everything from projecting income, to depreciation, to profit margins, to break-even calculations, as well as what the start-up costs of a company like this would be. Not only did this allow me to gain a lot of insight on how to properly assess the financials of a company like the one I have created, but it also allowed me to see just how plausible and profitable I could potentially be.
Overall, the assignments in this class allowed me to become more confident in analyzing and projecting the financials of not only my own company but that of many others that I could potentially face in the future. 

Negotiation and Deal-Making
This was another great class that was really fun because it allowed us to interact with other classmates through mock negotiations. One of the main assignments in this class was a mock negotiation, over the Internet via Skype or email that put us in a real life negotiating situation. The fact that we were negotiating with other classmates didn’t matter because we all took it very seriously. We were given specific scenarios and requirements that we had to negotiate for in our mock contracts. The class taught us how to get those requirements by applying the following concepts; how to separate the people from the problem, how to create a mutual benefit for both parties, how to use specific objective criteria to get what I wanted, and how to properly bargain or haggle. The key take away from the mock negotiations and this class as a whole, is that preparation is the main key to success with any kind of negotiation that you are doing. 

Product and Artist Management
This was another one of my more favorite classes as it touched on things that I have actual experience doing. The first assignment in this class was a case study over Credence Clearwater Revival, who I really didn’t know anything about prior to this class; however, after looking more in depth into their history and problems, it allowed me to see just how important a good artist manager is to a band.
The next assignment that I really enjoyed doing was to planning a live concert to benefit the local art scene. I was able to plan everything and gain experience with the following; booking a successful artist, finding a suitable venue, implementing event advertising, properly budgeting, acquiring sponsors, properly assessing risks, and having a back up plan.
The final project in this class was to pitch a product that my business would be providing the customer in the future. This project allowed me to assess many things that I would be facing in the future including but not limited to the following; product description, market analysis, direct and indirect competitors, brand positioning statement, target market analysis, marketing strategy, artist endorsements, sales and expense projections, and funding sources.  This assignment allowed me to see that there were many different products and opportunities that my company could potentially have and expand into in the near future.

Advanced Entertainment Law
I love working with law as I have always told myself if I didn’t become successful in the entertainment industry I would be come a lawyer. This class went over a lot of things that businesses in the entertainment industry should focus on understanding and protecting. I’ve learned the most important thing to anyone in the entertainment industry is the contracts that are signed prior to doing any kind of work. It is imperative that you have your lawyer, or two even, look over every single detail to be sure that you aren’t missing anything. Getting out of a contract that you have signed has never been cheap for anyone, especially in our industry.
Another important aspect of this class was that it showed you how to properly protect your intellectual property. Properly registering your copyrighted material as well as your trademarks is one of the most important things you can do to protect yourself from future infringement and lawsuit risks.
Overall, the case studies and lectures in this class taught me the correct legal terminologies, strategies, and procedures that I, as a new company, should be utilizing as I enter the industry.

Entertainment Media Publishing and Distribution
I had a lot of fun in this class! It was one of my favorites because it allowed me to help out a band that I was currently working with all while getting graded for it. This class focused on how you would pitch an artists album to a distribution company which including making a press kit and business strategy.
The press kit was something that I was really proud of because the band that I was working with at the time actually put it to good use. The funny thing was that their previous manager didn’t even mention that they needed one, which was something that I couldn’t believe. The press kit included an executive summary of whom the band was, a biography of each band member, a band photo, a rider, touring and booking information, as well as a demo.
The business strategy that was required in this class allowed me to learn how to properly market and distribute an artists CD through a variety of different venues. For this particular band I chose to use CD Baby as their distributor for their debut album because of past success I have personally had with it. This assignment also included an analysis of the following; pricing strategy, sales and expense projections, marketing expenses, target audience, marketing tools and strategies, and future opportunities. 
Finally, the overall experience I had in this class was amazing simply because it was fun and I was able to help out a real band!

Digital Marketing
This class is one that I learned the most information from out of all 12 of my classes in this program. I learned how to use tools such as Google Analytics, AdWords, and AdPlanner that I had never even heard of before this class. I learned about other tools and marketing strategies that included the following; search engine optimization, pay-per-click advertising, digital public relations, display advertising, social media and viral marketing, email marketing, affiliate marketing, and the importance of mobile integration. Furthermore, I learned how to get more conversions from my marketing efforts and also was able to determine how much getting that one conversion for my company would actually cost. This information is vital in the process for determining and planning for the correct budget and marketing strategy. After using these tools for my own research in planning my own marketing campaign, I realized how valuable and important a digital advertising campaign is to a company’s success.

Business Plan Development
This was one of the most time consuming classes that I have ever taken in my entire life. The amount of writing and research that needed to be done each week was exhausting; however, once I was done with it all I felt very accomplished. The majority of this class was researching and writing different sections of our final business plan. This was really fun for me simply because I was able to finally explain everything about my business as a whole in one place and not just in separate parts. This class took all of the skills that I had learned over the past 10 months and applied them all in one. Overall, this class taught me how to properly write a business plan, which is an experience and skill that I will be able to use to my advantage in the future.

Final Project: Business Plan
The final course in this degree program was where all the hard work over the past year had come together. This class was where I finally put together a business plan to its’ entirety that I would actually be able to use in the real world. The amount of attention and advice that the faculty gave me in molding and perfecting my business plan is something that, even after 12 months, I am still learning from.
Oddly enough, one of the hardest things for me to do in this class was to create an elevator pitch that didn’t last over one minute. This was hard for me because I felt like I couldn’t say enough in one minute that would persuade someone to have a second meeting with me. However, after some work and research, I was able to craft a successful elevator pitch that I will be using in the future.
One of the biggest and scariest things that I am facing at the end of this program is the fact that I am still unemployed. To my surprise, the lessons in my final class were about how to find a job and how to ace the interview. These small tips that were provided have become and are continuing to be a big help in my search for the right career opportunity.


Finally, this reflection assignment has allowed me to see how far I’ve come and how much I’ve actually learned over the past twelve months. The education and experience that I have acquired at Full Sail is something that I will be taking with me on my journey into the entertainment business.

Sunday, September 8, 2013

Band Press Kits




Band Press Kits are an important part of an artists or bands career and sometimes, dependent on how well they are put together, can mean success or failure. Band press kits are used for a variety of things including music promotion, music publicity, booking agents, and band promotions. There are many things that make a press kit successful; however, in my opinion, in order to achieve that success there are a few guidelines that you should always follow.
One of the first guidelines that I would always follow when making a press kit for an artist that I am working with is to ensure that you include a detailed biography about the artist or band. This biography should include every member of the band as well as an in-depth look into each of their backgrounds. The more detail you go into, the better; however, refrain from making the biography’s more than a paragraph or two per-member. By giving the reader a insight into the background of the band, it allows them to have a better grasp on who you really are, and who you can potentially grow to be.
The second guideline that I would follow to ensure the success of your bands press kit would be to include a band picture as well as a Demo CD. If your band does not have both of these items done yet, I would refrain from presenting a press kit to anyone in the industry as it comes off like you are unprepared. According to Artist House Music, the band’s picture should capture what someone would expect when listening to the music. No matter how visually appealing or well laid out the press kit is, the demo is most important part. If the demo you have is not professional sounding or is presented incorrectly, you’re sunk (Aritst House Music, 2013). The companies you are submitting these press kits to want a “product” they can mold and market right off the bat and without those two items, your band becomes a so-called employee that still needs training, of which they are not looking to hire.
The third guideline would be to ensure that you include your booking and contact information. Be sure to incorporate the following information in your press kit; Multiple Contact Names and Phone Numbers, E-Mail Addresses, Fax Numbers, and Web Addresses. This information is a vital part of any press kit simply because it is a means of communication for the “buyer” to contact you about your artist or band.
Finally, what do you do and how long do you wait after you have submitted your press kit to contact the “buyer”? In my opinion, follow-up calls should be done about two weeks after you have submitted your press kit. According to Entrepreneur, these follow-up calls allow you to ensure that the person actually received the press kit as well as allowing the recipient to ask questions or schedule an interview. Sometimes giving the appropriate people a follow-up call will improve your chances of success (Entrepreneur, 2002).
There are many different things that you should pay attention to when you are preparing a press kit. However, by being well prepared and insuring that all the information is included in a professional manner, you and your artist will have a bigger chance of becoming successful.


References

Artists House Music. (2006). How Do I Create a Press Kit. Retrieved on September 9, 2013, from; http://www.artistshousemusic.org/expert/how+do+i+create+a+press+kit
Deviantart.net. (2013). Band Press Kit Image. Retrieved on September 9, 2013, from; http://fc04.deviantart.net/fs47/i/2009/229/5/1/Band_Press_Kit_by_emtgrafico.jpg
Entrepreneur. (2002). The Ingredients of a Press Kit. Retrieved on September 9, 2013, from; http://www.entrepreneur.com/article/57260


An Artist's Online Presence

For this month's blog posts I would like to get back to my overall theme in hopes that my pointers will be able to help artists as well as their managers become even more successful. 
In today’s world there are many things that affect the overall success of an artist; however, I believe that one of the most important is the online presence they have. According to Meylah, the three most important reasons an online presence is important to an artist are; to share and promote your work, for others to share your work, and to sell your products. In my eyes, the online presence of an artist directly represents who they are, what they stand for, and how they would interact with their fans real world. An artist in the industry that is doing a great job of this and is a good example that artist managers could use to improve their own artists online presence is, none other than, John Mayer.   


 

John Mayer’s current online presence is on par with other artists in the industry and is just something else that he has perfected. He is active on all of the social media platforms including Facebook, Twitter, and Instagram. He interacts with his fans on Twitter and Instagram by having contests that allow them to win something that he personally mails or gives them.  He has a total of 5.7 million likes on Facebook and had over 58,000 people talking about him when I accessed his page. This just shows you that he has a successful online presence simply because his fans are active and talking about him on a daily basis. He has fewer followers on Twitter and Instagram; however, he lets them into his personal life, which entices his fans to remain loyal and feel as if they are closer to him. His YouTube channel not only features music videos and live performances, but also has some of his personal interviews and practice sessions. Finally, his website was really impressive because it included a lot of interactive material for his fans to view and listen to for free of which included; videos, photos, interviews, gave insight on whom he supports and donates too, and allows fans to listen to his music for free.
Overall, his online presence is really good in my eyes; however, there is one thing I think he could improve on. The main thing that I believe John could do to retain current fans would be to give live q&a sessions once a month or every few months. These sessions could be held exclusively for those whom currently have his album or could be used to entice others to become new fans. He could also turn these live q&a sessions into live streams of his bands practices or sound checks even. These live sessions would be a great way for him to get people to come out and experience the real thing.
For the artists that I personally develop, I would begin building their online presence as soon as they had content such as music, interviews, and live performances available to post. The main reason for waiting until they achieved those few things is simply to allow their fans instant access into who they are musically and individually. The small following that the band gathers in their beginning live performances will allow their online presence to potentially explode by word-of-mouth or, by what we call it now days, social sharing.  
The main lesson that I want my readers to take away from this is that by having a good online presence and interacting with your fans routinely you will slowly, but surely, have more and more success. The connections you make online are some of the most important an artist can make, that will attribute to further entice fans to come out to live performances and experiencing it first hand. Paying extra attention to your fans online by providing them with videos or interacting with them on Twitter, Facebook, Instagram, and other social media sites could lead to 100 more ticket sales. I know, I know, it doesn’t sound like much, but in the long run it could turn in 100 into 10,000.

References:






Berkley Case Book. (2009). John Mayer. Retrieved on September 9, 2013, from; http://berkleecasebook.blogspot.com/2009/03/john-mayer.html

Billboard.com. (2013). John Mayer Image. Retrieved on September 9, 2013, from; http://www.billboard.com/files/styles/promo_650/public/media/john-mayer-650-430.jpg

Meylah. (2012). 3 Reasons Why and Online Presence Is So Important for Artists. Retrieved on September 9, 2013, from; http://meylah.com/meylah/3-reasons-why-an-online-presence-is-so-important-for-artists