Business Plan Development Month 12

(Pictured above is the logo for my business plan)

From doing research there are many qualified and recognized “experts” as for as investors are concern. Investors are the people that usually know a lot about business plans although there are exceptions to every rule. Shark Tank is a television show aired on ABC and it features five renowned business people that have made millions of dollars from their own companies who are now trying to help out possible future entrepreneurs. Two of these investors stand out to me as I watched several episodes on hulu.com. The names of the investors are Daymond John and Kevin O’ Leary.

Something I did not know but from further research I found that Shark Tank is the United States version of Japan’s Dragon’s Den that airs on CBC and Kevin O’ Leary is an investor on both shows (http://www.cbc.ca/dragonsden). Mr. O’ Leary is from Canada and started off like many of business owners; he had no cash but a huge idea. His idea was to create software that helps children learn how to read. He came into the market in the early 1990’s and from 1995 to 1999 he acquired almost all of his software competitors. He sold his company to Mattel Toy Company for $3.2 Billion. He is now an investor for other entrepreneurs and like to invest in environmentally friendly businesses. He also has an investment company called O’ Leary Funds. His style on the show is ruthless and straight to the point (http://abc.go.com/shows/shark-tank).

There are several key factors that Mr. O’ Leary looks for in a business plan. The most important factor that he looks for is the financials section. After watching several shows I noticed that he wanted to know what the return on investment would be from a candidate. He seems to be the character on the show that is willing to take less risk when it comes to money but rightfully so. The next factor that he always asks up front if there is an existing business are how many sales has the owner achieved. If the sales are marginal, then it is highly unlikely that he would want to invest unless the business has an exclusive patent. The last thing he kept asking the potential business partner is what did they thing the company was worth. If someone numbers are off, then he is quick to tell them so plus that they are wasting his time. These factors are key because Mr. O’ Leary is concerned about the bottom line and that is recouping his investment plus whatever equity is owed to him. The pitfall with dealing with an investor like Mr. O’ Leary is the numbers not making sense.

Daymond John is another investor on the Shark Tank show. He is from Queens, New York and made his fortune in the fashion industry. The “Golden Era” of Hip Hop was in the 1980’s and during this time this genre produced superstars such as Run-DMC and LL Cool J. Both of these acts begin to wear apparel that would become their trademark. Run-DMC wore Adidas sneakers and LL Cool J wore a Kangol hat. These artists wearing the items lead to increased sales for both companies and Mr. John took notice of this. He began by starting a company with three close friends called FUBU (For Us By Us) and their first sales came from 800 t-shirts that they sold on the streets with their logo on the shirts. It was asking fellow Queens native and Hip Hop superstar LL Cool J to wear a FUBU shirt at photo shoot for ad campaigns and music videos for promotion that led to the company getting national exposure. This led to other celebrities such as Mariah Carey, Mary J. Blige, Boys II Men and Sean “Diddy” Combs to promote FUBU as well. Mr. John’s company took over a huge percentage in the urban apparel market. As of today FUBU has grossed over $6 Billion internationally (Lucas, Sloane 1999).

There are several key factors that Mr. John looks for in a business plan. The most important factor like Mr. O’ Leary previously is the financial section. Mr. John’s questions during the show are usually about how much sales have the company achieved and how much money has the owner put into the company. Having a record of sales helps a company get investors according to Mr. John but also making profit from the investment is imperative. The example that he back off immediately was about a lady that wanted more capital to help her business but it was not making any money. She invested $100,000 of her personal money but only had made about $20,000. This was a red flag so he did not make an offer to help her continue. His advice actually was to cut her losses and discontinue the business. What is critical here is her business is worthless because of these numbers and that will not attract investors so the pitfall here once again is the numbers not making sense. Lastly, Mr. John made it known that he is interested in growth.

There was not much of a difference between these two investors except one small thing in particular. They both were very concerned with the numbers and if they made sense. Unlike Mr. O’ Leary, Mr. John wants to like the business he invests in and Mr. O’ Leary wants the business to make profit. Mr. O’ Leary stated that he never lets his emotions get involved with a deal. The most important thing that I learned from this research is to have my numbers make sense and to show an estimated profit at some time. Even though I will be a start up business unlike some of the people that are participants of the Shark Tank I would still have to show that I could possibly generate sales. Mr. John was interested in growth so I could possibly put in my business plan more details about expanding and obtaining new personnel if the profits allowed such a thing.

Executive Leadership Activity 6

On the weekend of July 9th-11th I attended CLEO (Council on Legal Education Opportunity) seminar in Atlanta, Georgia. In order to participate in this event I had to write a one page letter stating why I would like to become an attorney and submit my undergrad gpa. I was accepted and everything was paid for including hotel, food and transportation. CLEO was founded in 1968 and focuses on diversifying the legal profession by helping minorities, low income and disadvantaged groups. This seminar was very helpful because I got to meet one on one with deans of admissions more in depth than the law school forum I attended in Miami in leadership activity 1. I even had one on one assessment of my personal statement. Everyone entering law school must have a personal statement written telling the school a little something about themselves and what makes the student different than the other average of 3000 people applying. Out of the 3000 usually about 150-300 students are chosen depending on the size of the school so one could see how imperative it is to stand out through the personal statement. I was given tips about how to prepare for the LSAT and I will take the test on October 9, 2010. I plan to be enrolled in law school by the fall of 2011. I feel through these leadership activities I have displayed the necessary skills needed to be a future great leader in the entertainment business.

Mobile Marketing and Commerce Month 11

I administered a survey to five of my friends with different backgrounds for this assignment. All of them are in my target audience for my business plan. Most of the thirteen questions were general questions about their mobile device use and a couple of questions were directly pertaining to my business plan. My goal was to see who would be open to pull advertising through the use of their mobile device. This assignment is something that I will continue to use because it will be better help me with understanding what my target audience wants and needs are.

Survey subject one is a 28 year old, African-American, male corporate attorney residing in New York City. He has been using a cell phone for nine years and is tech savvy. As the primary user of the cell phone he considers several different things when purchasing a cell phone. In the survey he stated that the mobile device has to have the following capabilities: GPS; ability to store music and other media; email and user-friendly functions. He upgrades his cell phone every two to three years because of advanced technology and wanting to have the latest upgrade. One of the things he would like for his cell phone to do that it currently does not is for the GPS to speak directly to him. His overall opinion about mobile advertising was that is does not sway him one way or another because he is extremely loyal to certain brands like for example the brand Apple. If Apple would to send him advertisements to his cell phone, then he would be receptive to it. He preferred style compared to function when it came to purchasing a cell phone. His exact answer was “fancy looking phones catch my eye more than plain phones with excellent functionality.”

Survey subject one primarily uses his mobile device for text messaging, listening to music, email, calls and GPS. There are features on his cell phone that require him to log on the Internet but in general he is not comfortable about giving out personal information in exchange for convenience or for exclusive content. His primary reason for choosing the provider was made by his mother. She purchased a cell phone for him when he was a sophomore in college so he could make long distance calls back home. The reason he has elected to stay with the provider is customer loyalty and Apple’s exclusive contract with AT&T since he has an iPhone. What he liked the most about his cell phone is it is a one-stop shop for the activities he spends a lot of time doing daily since he is an attorney. What he disliked the most is the data plan pricing, reception issues and dropped calls. He is not willing to receive advertisements via text messages from his favorite restaurant or artist because he is apprehensive about what the businesses would do with his personal information.

Survey subject two is a 26 year old, bi-racial (African-American/South American), female full-time student living in Germany. She has been using a cell phone for eight years and is tech savvy. As the primary user of the cell phone she considers style and price when purchasing a cell phone. She has not upgraded her phone in over three years but plans to do so when she comes back to the United States. One of the things she would like for her cell phone to do that it currently does not is better Internet access. Her overall opinion about mobile advertising is she is willing to be receptive to it. She preferred function compared to style when it came to purchasing a cell phone.

Survey subject two primarily uses her mobile device for talking and text messaging. She is not comfortable with exchanging personal information for convenience or exclusive content. The only feature that requires her to log on the Internet is instant messenger. Her choice of provider was the only choice for her because it was the only English provider in Germany. What she likes the most about her cell phone is text features. What she disliked the most are international plans. Although she would not be receptive to receiving advertisement via text messages from a restaurant for exclusive deals, she would be receptive to receiving advertisement about her favorite artist next performance in the local area.

Survey subject three is a 30 year old, African-American, female non-profit owner residing in South Carolina. She has been using a cell phone for thirteen years and is tech savvy. As the primary user of the cell phone she considers the following: great phone accessories, affordable calling plans and unlimited minutes and text. She upgrades every two years to get the contract price of the cell phone. She feels that her cell phone does everything for her personal and business needs. Her overall opinion about mobile advertising is that she embraces it and uses it for her own brand purposes. She preferred style compared to function when it came to purchasing a cell phone.

Survey subject three primarily uses her mobile device for calls, text messaging, email and social networking sites (Twitter, Facebook, YouTube, WordPress and TV.com). She is extremely comfortable with exchanging personal information in exchange for convenience and exclusive content. The features that require her to log onto the Internet are Gmail, Facebook, AIM, Skype, MSN messenger, Yahoo messenger and Twitter. Her answer about choosing a provider was a unique one because she said was forced into the provider through a merger. Her exact answer was “I did not choose Verizon, Alltel merged with them.” What she liked most about her cell phone is the option to either use the touch screen or slide up keyboard. What she disliked the most is that the touch screen sometimes freezes. She is willing to receive advertisements via text messages from her favorite restaurant or artist for exclusive deals and local performances.

Survey subject four is a 30 year old, African-American, female project manager residing in Washington state. She has been using a cell phone for twelve years and is tech savvy. As the primary user of the cell phone she considers the following when purchasing a cell phone: calendar management, user friendly and the ability to maneuver around various applications very swiftly. She upgrades once a year because of becoming bored with the cell phone she currently uses. One of the things she would like for her cell phone to have that it currently does not is a touch screen. The answer about how she felt about mobile advertising was so positive that I had to share it. Her reply was “I am satisfied with it overall. I am currently enrolled to receive promotional texts and emails (that are delivered directly to my phone in real time) from merchants such as Ikea, Borders and PF Changs, and I am comfortable receiving communication from them on current and/or upcoming deals and discounts. I think the idea/concept is genius as long as the consumer can control from who, and how often they receive the mobile advertising.” She preferred function compared to style when it came to purchasing a cell phone.

Survey subject four primarily uses her mobile device for managing her calendar, calls and email. She is comfortable with sharing personal information in exchange for convenience and exclusive content. The features that require her to log onto the Internet are instant messaging, Pandora and Sprint TV. She chose her provider because it received the best reception when she moved to Washington and chose to stay because of the follow up calls and emails from customer service. What she liked most about her cell phone is she gets emails real time and is able to manage her calendar. What she disliked the most is it has too many standard applications and functionalities that she does not use and it does not have a touch screen. She is willing to receive advertisements via text messages from her favorite restaurant or artist for exclusive deals and local performances.

Survey subject five is a 27 year old, Hispanic, female graduate student residing in New Mexico. She has been using a cell phone for nine years and is tech savvy. As the primary user of the cell phone it must have email capabilities when purchasing a cell phone. She typically upgrades her cell phone once a year because of constant changes with technology. One of the things she would like for her cell phone to do that it currently does not is the ability to edit pictures. Her overall opinion about mobile advertisement is that she is indifferent. She could not choose between style and function when it came to purchasing a cell phone because she likes both equally.

Survey subject five primarily uses her mobile device for email. She is not comfortable with sharing personal information in exchange for convenience and exclusive content. The features that she uses to log on the Internet are email, instant messenger and Facebook. She chose her provider because she used to work for them and continued service because of the price. What she liked the most about her cell phone is that is it user friendly and has an LCD screen. What she disliked about it is she cannot edit pictures. Although she would not be receptive to receiving advertisement from a restaurant for exclusive deals via text messages, she would be receptive to receiving advertisement about her favorite artist next performance in the local area.

This survey was very helpful and insightful with what I would like to do as for as advertisement for my business plan. Four out of five were willing to receive advertisements via text for an upcoming concert so that falls in line with my business plan since I have a venue/restaurant. Two out of five were willing to receive advertisements via text for an upcoming deal or discount for a restaurant. So to me this illustrates that I can get most of them to the concerts and possibly some of them will purchased food while they are attending a live show.

Survey Questions use in research:
1) Who is the primary user of your cell phone? What do you look for in a cell phone?

2) How often do you change or upgrade your cell phone? And why?

3) What would you like your cell phone or mobile device to do that it does not currently do?

4) How you do feel about mobile advertising overall?

5) In regards to your cell phone, is functionality or styling more important to you? How would you rate each on a scale of 1 to 10?

6) What do you primarily use your mobile device for? Ex: calls, text messages, check emails etc.

7) Are you comfortable with your personal information being broadcast over short distances in exchange for the added convenience or for exclusive content?

8) Are there features on your phone that require that you log onto the Internet? If so, which ones?

9) Why did you choose your provider? What are your reasons for staying with them?

10) What do you like the most about your cell phone?

11) What do you dislike about your cell phone?

12) Would you be willing to receive advertisements via text from your favorite restaurant that would offer you an exclusive deal or gift?

13) Would you be willing to receive advertisements via text from your favorite artist giving you details about their next performance in your town?

Internet Marketing and Web Search Month 10

In this assignment I had to create a wiki-style web page using Google Sites. Below is the set up I use for the wiki page.

By: Keith Harrison
https://sites.google.com/site/digitalimo/digital-media-artist-discoveries
Digital Media Artist Discoveries

Introduction
The days of walking up to an A&R and begging them to listen to your demo are rare in this new technology era. There are artist that still get discovered this old fashion way but now artists find it much easier to draw attention to themselves. The technology boom has afforded the unknown artist with free tools that can reach a wide audience that only record labels were use to providing. This is proven to be a real thorn into the sides of the record companies. If use properly, then digital media sites including Myspace, YouTube and SoundClick are extremely powerful for an unknown artist to reach their target audience.

Success Stories
After viewing Justin Bieber’s YouTube clips in 2007, Scooter Braun signed the young artist to a management agreement. Braun guided the young talent to a bidding war between two of the pop world’s biggest superstars Usher and Justin Timberlake. Both Usher and Timberlake were starting record labels of their own and were looking for talent to sign. Usher’s imprint US Records distributed through Sony Music Entertainment ultimately won the bidding war. This signing followed by his number one album, My World 2.0, has led to two world tours for the young singer. Bieber is the youngest solo male artist to reach number one the billboard charts coming close to the Legendary Stevie Wonder who reached this height at 13 while Bieber did it 16. The album features the number billboard hit “Baby” featuring hip hop superstar Ludacris and has over 150 million hits on YouTube.

After creating a Soundclick, MySpace and YouTube page, Soulja Boy Tell ‘Em found much success in 2007. He released an independent album on iTunes in March of that year including the soon to be hit “Crank That.” Crank That was a dance anthem created by the young artist. To accompany the song, he created a YouTube page featuring a video to instruct how to do the Crank That dance. The YouTube video now has over 74 million views as of 2010. Crank That also reached number one on the billboard charts in 2007.

References:
http://www.billboard.biz/bbbiz/content_display/industry/e3id9cb9e80bbe9e70cc01f20c23d255965 Justin Bieber’s number one album My World 2.0
http://www.billboard.com/artist/soulja-boy-tell-em/chart-history/933832#/artist/soulja-boy-tell-em/chart-history/933832 Soulja Boy Tell ‘Em chart billboard history

External links:
http://www.youtube.com/watch?v=8UFIYGkROII Soulja Boy Tell ‘Em youtube link
http://www.youtube.com/watch?v=kffacxfA7G4 Jutin Bieber youtube link

Author’s links:
http://twitter.com/KeithLHarrison
http://clubnewjack.blogspot.com/

Executive Leadership Activity 5

I switched from the campus program to the online program on May 1, 2010 due to traveling obligations for other endeavors so I had to resigned as Pre Law Club President. On May 15, 2010 I arranged an election for a replacement. Former Vice President Mitchell Bishop won the election and I informed him on all the duties that being President requires. I still to this day help the club whenever they need me. Throughout these activities I have gotten stronger in the skills (creating positive change, influence and prioities) I was weak in by helping others.

Entertainment Media Publishing and Distribution Month 9

The assignment for this month was to create a media company and describe how you would distribute it cost effectly.

Mission Statement
I chose to keep my mission statement short and straight to the point. I was taught this in an earlier class in the program. The mission statement is as follows: New Jack Productions mission is to provide high-quality music in the genre of R&B. R&B that has a nostalgic throwback feel to it. Our goal is to feed that burning need of live recorded instrumentation for our audience therefore providing an experience to remember for our clients.

Executive Summary
New Jack Productions (NJP) is a music production company that specializes in R&B. NJP will market to artist by attending the appropriate functions and gatherings that these artists attend. Competition includes surrounding production studios in the Atlanta, Georgia area that produce R&B. NJP Operations includes music production, graphic design and cd packaging. NJP plans to be the premier and go to studio for all R&B artists locally and also to attract major artist as well.

Company Description
New Jack Productions (NJP) is a music production company based in New York City, which specializes in the genre of modern R&B with a nostalgic feel to it. Atlanta offers different production companies from all musical genres. Competitors in the market do not offer R&B production that is solely produced by live musicians. Therefore, there is a burning need for this niche market to have a place for our clients to come and revisit the time before there were music programmers and beat makers.
New Jack Productions provides all musicians for production unless not needed by the client. NJP revenue streams include production, cd packages and graphic design.

Product
The product that New Jack Productions will create is R&B music for signed artist to the company and any artist of this genre that needs professional quality sounding material. The studio is a home-based studio so there is no major overhead cost and this will over more profit to the company. There is an in house graphic designer for clients that need a professional look to their photos. CD packaging will be the only service that is outsourced.

Manufacturing Strategy
Manufacturing strategy is pretty simple since all products will be produce in house. The client does have the options to bring in their own musicians and/or graphic designers. Everything that NJP creates for the client is subject to the client’s approval. NJP has a professional standard to uphold and does not want to tarnish the reputation of the company.

Distribution Strategy
New Jack Productions distribution will be handled by several sources for our clients. First, the client has the option to take their product and distribute it on their own. Next, the client can signed with our company if we both mutually agree to work together and NJP would handle distribution duties from there. Third, NJP will set up a deal through iTunes since this is where the majority of online music is purchase. One in every four songs sold in the United States is through iTunes (Whitney, 2009). In addition, NJP will out source print on demand through CD Baby. This is for the customer that wants a physical copy of the product. The good thing about partnering up with CD Baby is they have multiple partners with digital distribution as well. These digital distributions partners include the following: iTunes, amazon, eMusic and Rhapsody and several more (http://members.cdbaby.com). After securing much success as a company, then NJP would look for a larger distribution company after proving that the company can make sales. And NJP would not agree to an exclusive contract with the distributor unless it is a major deal and it is beneficial to the company. NJP sees fit to keep doors open to have multiple distributors for multiple revenue streams.

Marketing and Production Strategy
NJP’s marketing strategy includes several things. First, we have to determine who owns the rights to the material for publishing reasons of course. Since NJP offers production of the music, then NJP would own 50% of the product unless agreed upon otherwise or clients produces the music themselves. Next, NJP would decide which performing rights society to join. In addition, NJP will seek out performers mainly in the Atlanta, Georgia area by attending music festivals, conferences and showcases that focus on the genre of R&B or related sub-genres. In addition, NJP would look to primary and secondary competitors in the area and find out what strategies that are working well and not well for them and make adjustments from there. Production strategy is the same as previously mention in the manufacturing strategy.

Advance Entertainment Law Month 8

My business will be located in New York, NY so the need to interview a New York entertainment attorney was imperative. After researching potential candidates online to interview for the leadership portfolio, the choice ended up being with Mr. Corey Boddie. He had very little time to speak with me but I did speak with him over the telephone. I respected that his time was sensitive so I suggested that I email the questions and he obliged and also referred me to his website for his practice. Boddie is an entertainment attorney practicing in New York in the areas of music, film, fashion and television.

Corey Boddie received a Bachelor of Arts degree from the University of Virginia in 1994 and a Juris Doctorate degree from Southern University Law in Louisiana IN 1999. Shortly thereafter, Boddie started his own practice named Boddie & Associates, P.C. He is a member of The Entertainment Law Committee of the New York Bar Association and is a board member of this organization. In addition, he is also a member of The Entertainment Sports Law Forum of the American Bar Association and is an officer with this organization. Lastly, he is also a member of the Recording Academy for the Grammys (http://www.boddieassoc.com/corey_boddie.html).

One of the questions that I emailed Mr. Boddie was asking him about his favorite moment while practicing law. Boddie (personal communication, March 22, 2010) noted that it was when he was appointed the General Counsel for the Manhattan Short Film Festival in 2001. Another question in the email was general advice related to the start up of my business. Boddie (personal communication, March 22, 2010) noted that he could not give me legal advice but in general to make sure that I have all the proper licenses since I will be dealing with music. In addition, another question I asked was about becoming an entertainment attorney. My goal is to start law school in 2011. Boddie (personal communication, March 22, 2010) replied saying to make sure this is something you really want to do because it requires a lot of sacrifice but the rewards are great. He also noted that to join sports and entertainment organization at the school if applicable. In addition, I asked what are some of the major legal liability and challenges in entertainment law. Boddie (personal communication, March 22, 2010) said that infringement is definitely number one and warns clients of this before he starts to do business with a client that comes to him for legal advice.

These emails were very helpful but also referred me to his website for some of the things he has been involved with such as high profiled cases. One case that I found interesting was the Ginuwine versus King Music Group. I personally am a big fan of Ginuwine’s music and have purchased all of his music from 1996 through his latest effort in 2009. He is an artist that is on my business plan list that I would like to perform at my venue. Boddie represented Ginuwine with the claims of negligent misrepresentation, entertainment business fraud and breach of contract. The deal was for King Music Group to provide an advance of $500,000 with the deal totaling at $1.75 million. Ginuwine never receive payment. In addition, this held up Ginuwine from recording anywhere else at the time. Damages of $4 million was asked for to settle this case. The lawsuit stated that King Music Group did not exist so the contract is null. The lawsuit was later dropped by Ginuwine and he is now signed to Notifi/Asylum/Warner Records (http://www.usentertainmentlawyers.com). Other notable clients are Oscar nominated director Josh Raskin, Kool & The Gang, Bad Boy recording artist Black Rob and reggae artist Wayne Wonder.

Corey Boddie was very helpful and I sent him an email saying thank you for your time. He replied (personal communication, March 22, 2010) saying that he will be available to speak with me for an hour on March 26, 2010 at 10am. For the assignment purposes, the email and the short time we had on the phone had to suffice but I look forward to speaking with him on this day to go into more detail about my career goals and more of the things he has done in the entertainment industry.

Executive Leadership Activity 4

On February 23, 2010 as Pre Law Club President I arranged with faculty advisor Davey Spicciati to have a screening of filmmaker Brett Gaylor's documentary entitled RIP A Remix Manifesto inside of the Full Sail University's EBBS auditorium. The film is about how DJ'S deal with copyright issues focusing on DJ Girltalk since he is known for mash ups. Mash ups are taking a few seconds of existing songs to create a full song. I arranged for then Secretary Glenn Taylor to have each student sign up to receive information about the Pre Law Club. The screening turned out to be a success because not only did we have a great turn out for the film but we also recruited new club members.

Product and Artist Management Month 7

I reached out to a very good friend of mine, Vito Tha Champ, an Atlanta, Georgia based Hip Hop artist that is on his way to the top. (Pictured about from left to right is YZ(Vito's manager), Akon (CEO of Konvict/Interscope Records, multi platinum artist and producer) and Vito Tha Champ.) Through Vito I was able to have a telephone interview with his manager that goes by the name Y/Z.

Keith Harrison
PAM LP
Artist Manager: YZ
February 23, 2010

How did you get your start into artist management?
“I started out as a club promoter in Atlanta Ga.”

What is artist management to you?
Artist management to me is the extension of an artist that is all about the business. I have to think like an artist but also make sure that they get the best deal.

What artist did you promote shows for?
“Atlanta based rap acts such as TI, Young Jeezy and Rocko

What made you switch from promoting to artist management?
“Long story short, a business partner was doing shady business behind my back and it left a foul taste in my mouth and I wanted to move on.”

Who is your first artist that you signed to an artist management deal?
Vito Tha Champ aka ‘Mr. 757’

How has relationships and networking help your career?
“Since I was in the promoting game, I had connections to get Vito Tha Champ booked in those clubs in Atlanta. The best advice I can give you is to never burn bridges man. Relationships are vital in this business, it can make or break you.”

What has been some of your achievements in artist management?
“Signing Vito Tha Champ to RCE. Vito helped RCE get the attention of Konvict Music because his style and he write and produces his own material. Also negotiating Vito’s deal for the Konvict Clothing Tour since the Akon’s clothing is a separate business from the label.”

What has been some of the pitfalls of artist management?
“I’m relatively new to artist management so I would say having to do most of the leg work myself when it comes to booking shows and making sure the show happens without problems.”

“Also, Vito started out in a group but I was not interested in the other three so I signed Vito to a solo deal and made sure he could be with my company since he was already in a group. That was crazy because the group felt threaten and betrayed but Vito was the producer and visionary so I wanted the total package.”

Negotiation and Deal-Making Month 6

After researching online potential candidates to interview, the obvious choice was Shannon Ligon. Shannon Ligon is an entertainment attorney in Orlando, Florida. I chose Ms. Ligon because I noticed in her biography on her website that she is not only a law professional but an aspiring songwriter as well. I myself being an aspiring songwriter thought that we would share this common thread to make the meeting more relax. In addition, I am Full Sail University’s pre-law club president and this would be a great opportunity to network with an industry professional. Ligon received her undergraduate degree in Business Management from Florida State University and her Juris Doctorate from Florida A&M College of Law. Ligon’s got her start by interning for Clear Channel Radio and TriStar Sports & Entertainment Group. Shannon Ligon is the founder of Ligon Law Group (www.shannonligon.com).

The meeting took place in downtown Orlando, Florida in a two-story building that is the home of several law firms. After exchanging greetings, I politely asked her about her songwriting and what genre of music did she prefer. I told her that I am an aspiring songwriter and that was the meeting’s turning point. Ligon’s was sitting behind the desk so she had the power, but this affiliation put us both on equal playing fields. “We and our negotiating counterpart may both be coin collectors, which might bond us together; but if we never discover our common role, we obtain no emotional benefit” (Fisher & Shapiro, 2005 p. 54). Even though we were clearly not there to make a deal I still referenced this quote to show the common ground that we shared.

After discussing Ms. Ligon’s background and training, we moved on to questions about her career today. Ms. Ligons works with Cash Money Records artist Lil Wayne and Miami’s DJ Khaled. I ask her about negotiating during this economic climate that the United States is currently going through. She said that clients are more so now ready to settle if there is a dispute over money not being paid for services. In addition, she stated that clients could get more money for performances because they have bargaining power but some do not take her advice and take the first option. She said that this is very challenging to get a client to be patient and wait on the better deal. She stated that this is when you have to have a personality that can adjust and not take things personally even if you have worked on a deal very hard for the client. Ms. Ligon even recommended Fisher & Shapiro (2005) book that we are reading for class. Basically she was saying to not let emotions control your decisions because ultimately the decision is on the client and she is there to only offer advice.

One deal making technique that Ms. Ligon’s shared with me was that if its a huge money making deal that she is negotiating she brings along a colleague. If her colleague cannot make it in person, then she has the colleague call in on the deal and purposely puts them on speakerphone to give the impression that someone else is making a better offer to get the opposing side to make impulse decisions. I learn several things about myself during this interview. Things that I know will help me in the future during meetings.

I learn that anything is negotiable if you have the correct technique and have prepared for the meeting. Ms. Ligon’s said that most of her time is spent doing research and phone calls and it is well worth the effort when you get a client what they have ask for. I already knew networking is a powerful tool for success but I had no idea going into this meeting that I would be asked to work on a project with Ms. Ligon. Ms. Ligon’s project is to organize three benefit concerts in Orlando, Tampa and Miami to raise money for Haiti. Haiti really needs this help and I gladly accepted. I told her that I intern for the Daily Buzz television show and I would talk with the producers of the show to see about having the artist that are taking there time out to perform for free at these shows to have on as guest of the television show. She loved the idea and if this was an actual deal I know that this would give me more leverage for the opposing side wanting to work with me.

Finally, I learn that communication is key and a vital component to an agreement. Shannon Ligon is a great contact professionally and personally since I am considering law school. In addition, I get to work with her and her attorney colleagues on this benefit concert. This will be a great addition to my leadership portfolio. I already sent Ms. Ligon a thank you card and we have our first meeting about the benefit concert on Friday January 22, 2010.

Global Entertainment Business Month 5

The conference was held on May 5, 2009 in Santa Monica, California. The video of this conference can be viewed at www.digitalhollywood.com. It was a day filled with panels of speakers about digital content and how it has changed the way businesses interact act with consumers of their products. This conference is entitled the Digital Hollywood Content Summit. This video of the conference had five speakers with five different background of entertainment. The people on these panels spoke about everything from the history of how entertainment is distributed to new innovative ways businesses can interact with the consumer. The main idea for this panel was the development of technology for entertainment when it comes to motion picture, television and the Internet.

The first speaker was Suzanne Stefanac and she works with the American Film Institute digital content lab. The lab consists of volunteers that are constantly trying to come up with innovative technology for film. To fully understand where entertainment is at now, one must know the history of entertainment. Stefanac discussed the history of motion picture. First, she spoke about Eadweard Muybridge. Muybridge was a famous photographer in the 1800’s. In 1872, the Governor of California, Leland Stanford enlisted Muybridge to help him prove a factor about a horse. Leland had placed a bet with some of his friends stating that all four of a horse’s hooves were off the ground at some point during a sprint. The friends disagreed heavily and a wager was made. The wager was $25,000 if Leland could prove he was actually correct with his theory (Abel, Richard 2005).

Technology in earlier years was not as sophisticated as it is today. One would have to stand still for a period of time to capture a photo so imagine the opposition Muybridge was up against with taking a picture of a horse trotting. The money motivated Muybridge with getting this done. After six years of development, Muybridge finally achieved his objective and proved Leland to be correct with his theory. Muybridge set up several cameras in a row that was triggered as the horse trotted by (Abel, Richard 2005). Some credit Muybridge as the father of motion picture.

Suzanne Stefanac next story in history was about Alexander Graham Bell. She discussed how Bell was not trying to invent the telephone. He was actually trying to make money from the company Western Union. Western Union stated at the time that a person could only send one telegram down a wire at a time. Bell achieved this goal (Moyer, 2009).
Finally, Suzanne Stefanac spoke about Thomas Edison. Stefanac called Edison the Microsoft of his day, meaning he did not always invent things but he knew how to commercialized them. Edison is most known for inventing the light bulb and the kinetoscope. In Stefanac power-point presentation, it showed people looking at motion pictures in a hole on a kinetoscope. She went on to say that Edison did not believe people would pay to sit in the dark with other people to watch a motion picture.
Today we see that millions of people all over the world go to the theater on a weekly basis.

The second speaker was John Gilles. Gilles is the Vice-President at a company called Method. Method is an entertainment company that consults businesses with its media needs. Some of Method clients include Nike, Visa, Comcast, Sony and Microsoft. According to Method’s website, Gilles is an internationally recognized expert on advanced television and Internet media (method.com). Gilles spoke about a new media called machinima. Machinima is when game developers cross over into television. He stated that it is still expensive to produce because of rendering and paying voice actors. Gilles spoke about how companies can tell a story with a machinima and integrate an ad into the story line. He said that he thinks even though this technology is only two years old, it will compete with pixar in the future when it comes to making film, television or internet products.

The third speaker was Alexis Rapo. Rapo is a representative from abc.com. She talked about how the Internet has been a huge part of the success of the show Dancing with the Stars. She said that the show is the number two online viewed show behind Lost. One thing she pointed out is to know your audience. Rapo pointed out that Dancing with the Stars target market were older females. Although she did not give a specific age of the females, she did say that the site tries to have features that would not be complicated to navigate. Abc.com has a social networking site that a fan can join and engage with other fans and the contestants of the show. She talked about how the show’s website has exclusive content to drive traffic to the site. Rapo says that this keeps the fans engage with the show the other six days it is not on air. Fans get to view behind the scene footage of their favorite contestant on the site. Rapo was thrilled to discuss the partnership with AT&T. This partnership launched mobile voting for the consumer’s favorite contestant. At first voters had to call in their vote but now they can vote through a mobile device, Internet or traditional calls. Alexia Rapo discussed how abc.com has implemented text alerts. Fans of show sign up for the text alerts by sending an initial text, then after that they receive details such as which contestant is injured or who will be performing on the show.

The fourth speaker was Danila Koverman. Koverman works for a company called Breakmedia. She said the company used to be HBO Digital Lab, but Breakmedia bought them out because HBO wanted their business model to remain subscription based and not advertising. Breakmedia makes its revenue through ads so it was the perfect acquisition according to Koverman. She spoke about how Breakmedia uses relationships to help the business. Breakmedia is a team of people than can edit, film and research. The small team produces original content on youtube and their own site. The business acquires unsigned actors and actresses that have a large amount of subscribers on youtube. This partnership with the actors and actresses drives large amounts of traffic to their site and this is how they attract companies to placed ads. She discussed that one of their successful shows is called Hooking Up. This show has a cast that has a total of 1.3 million subscribers on youtube. This drives traffic to the site and gains the actors and actresses more attention to Hollywood. She spoke about how the characters has a facebook profile that fans add as a friend. Danila Koverman finally discussed how youtube, facebook and their own website has had a huge impact with their sales with advertising.

The final speaker was David Gale. Gale is a former executive of MTV Films. He discussed how he made the switch from feature films to Internet content. He used his connections and relationships to get help with his project. His project is called 5 Dollar Cover. This project is a show that concentrates on music of a certain region or city. The first project took place in Memphis. He wanted everything on the show from this city. He enlisted a friend from his days at MTV Films director Craig Brewer who happens to be from Memphis. Craig Brewer is the director of Hustle and Flow, a film produced by MTV Films. The episodes feature local talent that does not have a label and the objective is create a fan-base for them. The first show was a hit and one of the artists was invited to tour with Fall Out Boy and 50 Cent. Gale discussed about how acquiring AT&T as a sponsor has help with funding his project. Gale’s goal is to franchise the project to different cities using local talent as well from those cities. Cites being discussed is Seattle, New Orleans and Austin and even some in foreign countries.

My business is a venue for old school R&B artist from the late 1980’s and 1990’s to perform their hits. One of things from this Summit I can take and use in my business model is to incorporate digital content. A website is a must and not just an informational website, but one where a fan can interact with artist that perform at my venue and with other fans. Using traditional social networking sites such as facebook can help market the venue. In addition, I take away from this Summit that building relationships and having partnerships helps a great amount. Also, finding sponsorship from businesses such as AT&T helps out especially for a start-up entertainment company. Lastly, attending conferences such as the Digital Hollywood Content Summit to network with other people in the entertainment industry.

Finance Month 4

There were some great choices for this leadership portfolio assignment to choose from. The choices included commercial banking, personal finance, an investor or an employer. My first choice was an employer so I contacted the general manager of the House of Blues. My business model is similar to this company so it was my goal to discuss the business with him. I set up a meeting with him but he had to cancel and wanted to reschedule the meeting. The time constraints on this assignment prevented me from meeting with him on time to finish so I had to change my choice. I still plan on meeting the House of Blues general manager, but for assignment purposes I contacted a local banker. I chose Bank of America because I am already a customer and the assumption was that they would gladly help out an existing consumer. My assumption proved to be correct and they were more than happy to be of service. The only problem was I visited the bank on a Thursday to set up the appointment for the meeting. They are extremely busy near the end of the week so I ask the bank manager when would be a good time to meet. She said the following Monday at 2pm would be perfect.

I arrived at the bank twenty minutes early the following Monday. The bank manager was on vacation so the assistant manager, Sabrina Bakka, told me she would be the one I will be meeting with. I stated that I am a graduate student at Full Sail University and I wanted to ask her some questions plus get any feedback from her on anything that we did not discuss in the meeting. After introducing myself, I asked about her background in becoming the assistant manager of this branch. Ms. Bakka is from the Midwest and started out as a teller in Iowa. She helped establish the first in-store bank in Iowa located inside Cubsfood grocery store. In-store banking is having a branch actually located inside the store. Wal-Mart is an example of a store that has in-store banking. She is not a college graduate and said that she was promoted because of her knowledge of different departments in a bank such as a teller, sales and personal banker. “Experience is my degree” is a quote she stated to me. In 1997, Ms. Bakka moved to Orlando to accept a position with Nations Bank. Nations Bank merged with Bank of America in 1998 and agreed to operate under Bank of America’s name (Leahy, 1998). Ms. Bakka believes that the company chose Bank of America over Nations Bank because of brand recognition. Ms. Bakka became assistant manager around this time and attributed being knowledgeable about all departments in the banking system and being bilingual helped her obtain this position. She is fluent in speaking English and Spanish and this helps her with the diverse population in Orlando, FL.

We then moved on to discuss different services that Bank of America offered. Ms. Bakka informed me that this particular branch only handles consumer business as opposed to commercial. She could only offer little information about commercial loans. The answer I kept getting was it depends and she handed me a card of a loan officer. She said that this local branch refers a customer to an over the phone application to get the process started with a commercial loan.

She explained to me about the Keep the Change program Bank of America offers. A consumer would first have to open a checking and a savings account to benefit from this program. I asked if there were any fees for the Keep the Change program and she said no. She explained that every time a consumer uses a debit card for purchases the bank would round up to the nearest dollar amount and deposit the difference in a consumer’s savings account. Bank of America matches this amount one hundred percent up to three months. After the three months are up Bank of America matches five percent with a maximum of $250 a year (http://www.bankofamerica.com/promos/jump/ktc/).

I ask Ms. Bakka about what investments should I consider. She responded by saying that she could set up an appointment with a Merrill Lynch representative. Merrill Lynch handles investments now that they have merged with Bank of America (http://www.bankofamerica.com/merrill/). Although this merger happened in late 2008, she said that this deal went live on October 26, 2009. In addition, she informed me that a customer would not have to travel downtown to Merrill Lynch’s office and that a representative would meet with a client at a local branch of Bank of America of choice.

One investment that she did inform me about was a certificate of deposit. She explained that it was based on the term and amount that a customer deposits. It ranges from seven days to five years. The Risk Free CD program that Bank of America offers is a nine-month program where you can withdraw your money without penalty. It requires a minimum $5000 balance to open this account (http://www.bankofamerica.com/deposits/checksave/index.cfm?template=cd_riskfree&context=tabpage_Rates_Fees).

Since Ms. Bakka is more familiar with the consumer side of banking, I now begin to ask about mortgages for a home. The only answer she would give me about standards is that Bank of America is an equal opportunity bank, but she did show me the average interest rate of a consumer loan. We walked outside of her office to the lobby of the bank to view a chart that was on the wall. The average interest rate on a home mortgage is 5. 975%. I personally am a veteran of U.S. Army so I asked about a VA loan. Ms. Bakka informed me that there is no down payment required for a VA loan for a home. Otherwise a consumer would have to have a 20% down payment to get a loan approved. One great thing that she shared with me is Bank of America has partnered up with Orange County in a program called Orange County Down Payment Public Assistance. This program is for consumers that do not have the 20% down payment. Orange County will assist consumers only with this payment. The next service that Ms. Bakka discussed was about equity line of credit. The terms and conditions of this program is that there is no closing cost but there is a $25,000 minimum requirement that a consumer can ask to be approved for. If a consumer asked for anything less than $25,000, then Bank of America would not consider it.

I asked Ms. Bakka about safe deposit boxes. She said they range in price from $65 to $180 a year depending on the size of box that a customer would need. One thing about Bank of America safety deposit boxes that she explained to me was unlike most banks a customer does not need a manager to accompany them to their box. Once the customer purchases a box then they are given a card that has a scanner on it. This scanner allows the customer access to the area where the safety deposit box is located. In addition, another safety service Bank of America offers indirectly is a credit monitoring service. This service is offered indirectly because it is outsourced to another company Bank of America works with. The fee for credit monitoring service is $12.99 a month with the first thirty days being free.

One of the last topics Ms. Bakka discussed was fees that Bank of America charges. We did not have time to talk about all the different fees or penalties with having an account with Bank of America but she did elaborate on a couple. First, Bank of America will not charge a customer no more than four fees a day if an account is overdrawn. Second, Bank of America will not charge an overdraft fee if the account is overdrawn less than ten dollars.

In the end, I learn some new things as well as revisiting things shared with me when I first opened my checking and savings account with Bank of America. I got a lot out of this informational interview and cannot wait to do again with the House of Blues general manager. I had a lot of fun plus made a contact. I will be sending Ms. Bakka a thank you card for her time.

In closing I would choose Bank of America and recommend them to friends and family. Even though the assistant manager, Sabrina Bakka, could not answer questions dealing with commercial property, it is good to know that they have loan officers that specialize in this type of property. If Ms. Bakka could not answer a question, then she either referred me to the Bank of America website or asked a loan officer to assist with the question. I was very well taken care of and appreciative of the time that Ms. Bakka granted me for this meeting. The last thing she wanted me to know was that Bank of America is always about change and always improving for the customer to be satisfied with their services.

Executive Leadership Activity 3

At the Pre Law Club October, 2009 meeting I discussed all of the information from executive leadership activity 1 to the club members that were not able to attend the law school forum in Miami, Florida due to conflict with schedules. I handed out brochures and LSAT packets to each member to give them a better understanding on what took place during the event.

Business Story Telling & Brand Development Month 3

Another capstone for completing my Masters of Science in Entertainment Business is to create a business plan. In this assignment I had to create a video telling a story related to my business plan for my leadership portfolio. Club New Jack (CNJ), LLC is a start up nightclub based in Harlem, New York, which specializes in different New Jack Swing R&B national acts from the late 1980’s and 1990’s performing live on a weekly basis. New Jack Swing originated from Harlem and is a style of music that fuses the production of Hip Hop and R&B giving its sound a swing. New York offers nightclubs from different genres. Competitors in the market do not offer an outlet for CNJ’s target market to attend on a weekly basis. Therefore, there is a burning need for this niche market to have a place to attend live events from the music of their past. Club New Jack’s mission is to provide high-quality live R&B from the late 1980’s to late 1990’s creating a nostalgic experience for our customers.

Executive Leadership Activity 2

Knowing creating positive change, priorities and influence were the skills that I needed to work on for my leadership skills I sought out to tackle all three at one event. This event was Full Sail University's club fair in September, 2009. The club fair is designed to recruit new and current students to organizations at Full Sail. During the event myself, Vice President and Secretary of the Pre Law Club discussed the mission of the club and had potential club members sign up for an email list and gave brochures about the club. The outcome turned out to be beneficial because we saw our club membership grow from 40 to 55 people.

Project Team Management Month 2

This month I had to work with two fellow classmates Duron Bentley and Shayna Johnson on a project. We equally shared assignments for this project. We had to choose a nonprofit organization and help them with a project. We chose OCAEC (Orange County Arts Education Center). OCAEC mission: Building connectivity and support among Orange County's leaders, residents, nonprofit organizations, educational institutions, and businesses to make high-quality arts education accessible to all. Upon arriving at the Orange County Arts Education Center (OCAEC) for our initial meeting, our team appreciated the atmosphere that was in the office. Director Scott Evans was very open and enthusiastic about our team wanting to assist the center with a specific project. OCAEC is very committed to bringing awareness for the arts to all people. We understand as students of Full Sail University, how important the arts really are in school. We proposed to create a plan for a public service announcement for OCAEC that will assist in getting the message across just how important all of the arts are in school. The plan was mapped out and delivered to Mr. Evans.

Executive Leadership Activity 1

Pre Law Club's mission: The purpose of the Full Sail University Pre Law Club is to arm students with the information that they need to take the LSAT (Law School Admission Test), apply to law school and develop relationships with other students that share the same interest. As Pre-Law Club President I organized a trip to Miami, Florida to attend the annual law school forum on September 12, 2009. The law school forum had 90 law schools from all over the United States. Some students could not attend due to class so I knew I had to take great notes to share with club members. Several students and I traveled down I-95 on the four hour drive eager to see what was ahead for us. At the forum we met with deans of admissions from different schools and attended different seminars.

Executive Leadership Month 1

On August, 3 2009 I begin this journey on the road to my Masters of Science in Entertainment Business. I was given an assessment of my leadership skills and the assessment determined that I needed work on the following skills: creating positive change, priorities and influence. I researched the program prior to my start and knew I had to join an organization or take on a leadership role of some type. I have the distinction for being elected Full Sail University's "First" Pre Law Club President because I have a strong interest in entertainment law. It was between me and another student and we had to deliver speeches in front of the newly form club. Public speaking is one of my strengths so I knew I had it when my opponent stumbled in front of the group. A leader definitely needs to possess pubic speaking skills to effectively get points across to diverse audiences. My goal was to be enrolled in law school by the fall of 2011 so my journey began. In addition, it was expected that I complete six activities to exercise my skills in executive leadership. Below is a video of me delivering a speech for my undergraduate degree that I had recently completed at Full Sail University. I was voted "Adanced Achiever" by faculty and fellow classmates. I also won several course director (professor) awards including: perfect attendance, contract law, music merchandising and retail promotions, leadership and organizational behavior, music business marketing and professional communication and presentation. I am posting this because I started my Masters program days before I gave this speech since I went straight into the Masters from the Bachelors. I begin my Masters on August 3, 2009 and this speech was given August 7, 2009. Enjoy!
.