CMG Live! 6:30p-7p EST - Episode 01: 2012 Marketing


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Alternative Funding: The Unbeaten Path

7:59 PM Secrets of the Music Industry , Posted in , , , 0 Comments


Today I am taking a look at an alternative funding website. The site needs to answer three fundamental questions. One, what types of financing opportunities are described? Second, what are some of the requirements and qualifications to obtain the financing? Third, what other types of information are available on the site? Afterwards, I will summarize the most impressive feature found on the funding resource webpage discussed today.

http://www.microenterpriseworks.org


The website describes many things for NON-PROFIT ORGNIZATIONS through something called Catalyst Initiative. Catalyst Initiative is a network of OTHER organizations that offer services through MicroEnterpriseWorks.org. The main funding source I found was through a Catalyst Initiative partner company called the Nonprofit Finance Fund. They offer help through loans to non-profit organizations.

The requirements to receive financing are found on another website that offers the loans, http://nonprofitfinancefund.org

a  A 501(c)(3) organization or other entity that promotes the economic, social or cultural development of its community.
b.     Been in existence for 3 years or more (some clients such as social enterprises have shorter operating histories)
c.      Unrestricted annual operating revenue of at least $500,000
d.     An application filled out and received at a local office where you are assigned a case manager to help you

It should be noted that NFF lenders evaluate smaller nonprofit and social enterprise organizations on a case-by-case basis.

MicroEnterpriseWorks.org is a great informational page for non-profits that need to stay in the know concerning new legislation, laws, and looking to expand networking opportunities. MicroEnterpriseWorks.org is tailored like a word press blog with many different articles focused on things that concern non-profits specifically. Furthermore, there are links to help entrepreneurs find mentors within the non-profit community. In addition, there is a big push on the site to better the community through “going green”.

Overall, this is a wonderful website for non-profit organizations looking to become more savvy in the legislative and legal side of fundraising. Loans are the main vehicle offered through partnership companies. Subsequently, there are great networking opportunities with other non-profit mentors to help you succeed.

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Down to Business Part 2: Make It Your Own

8:46 PM Secrets of the Music Industry , Posted in , , , , , 0 Comments



Business Plan Expert #1: David Lee of SV Angel

What I learned from expert David Lee:

What I learned most from reading David Lee’s thoughts on what investors find important is that flowery language and great descriptive terms are more detrimental than helpful. Accredited investors, venture capitalists, angel investors, and all other types of lenders don’t care how well you put words together. (Phung, 2011)

Implementation:

In my own business plan I strive to critique each section to make it the most concise and poignant. The goal is to build belief in your idea, not your writing style and filling in all necessary sections with thought given to all aspects of a solid business model will use up enough words as it is. (Stelzner, 2011)

However, the story that has brought the business idea forward is very important. Make it brief, relevant, and inspiring. The key is to inspire with solid foundational concepts to showcase planning and passion. (Kawasaki, 2005)

Business Plan Expert #2: Guy Kawasaki of Apple

What I learned from Guy Kawasaki:

Again, concise, impactful, meaningful statements are the only sorts that make the final cut into any credible business plan. Guy Kawasaki not only champions this sentiment, but also lives by it as he reads through his own fair share of business proposals as an investor himself.

Consequently, after my first draft is written it will be edited to assure the 20-30 page rule is abided by to assure a full read given by all propositioned investors.

In conclusion, I feel the executive summary and financial portions of any business plan are the two things that bring an investor what he or she needs to make a sound business decision. These two pieces are the most important because all other business plan parts give these sections their proof.

Sources:

Kawasaki, G. (2005). Art of the start: trusting venture capitalists. Forbes.com.
Retrieved on September 24, 2011 from http://www.forbes.com/2005/06/16/entrepreneur-venture-capital-kawasaki-cx_gk_0616artofthestart.html

Phung, H. (2011). New investors helping to drive health tech innovation.
Practicefusion.com. Retrieved on September 24, 2011 from http://www.practicefusion.com/pages/pr/emr-sector-investment-round.html

Stelzner, M. (2011). The art of enchantment: how guy Kawasaki will change your
business. Socialmediaexaminer.com. Retrieved on September 23, 2011 from http://www.socialmediaexaminer.com/the-art-of-enchantment-how-guy-kawasaki-will-change-your-business/

Down to Business: Expert Views on Business Plans

10:22 PM Secrets of the Music Industry , Posted in , , , , , , , , , , 0 Comments

Business Plan Expert #1: David Lee of SV Angel

Bio/Background

David Lee is considered an expert in business plan fundr
aising. In addition, he is a General Partner in SV Angel (venture capitalist firm) out of CA. SV Angel focuses on start up ventures that fuse technology development with entertainment. Mr. Lee’s background before joining SV Angel involves Google and StumbleUpon where he was involved with business development for both companies.

Image representing David Lee as depicted in Cr...Image via CrunchBase
What is important in a BP to investors?

David Lee believes in substance over show. The information must make an impactful statement followed by hard evidence to prove and justify that statement to investors. Substance over show is imperative because the investor must know there is a solid plan in place and not just a great idea without a path to get to the destination. Moreover, it is my opinion that the sentiment discussed above is why Mr. Lee is quoted as saying, "[t] here are a bunch of rich people and firms subsidizing tech entrepreneurs, but this time the entrepreneurs are better”, within an article by Mark Lacter for LA Observed. (Lacter, 2011)

Also, Mr. Lee feels it is important for the backstory to be told for an investor to see the heart and passion necessary for a successful venture to move forward. If, the investor doesn’t see the business owner as excited for themselves as they are for others to jump onboard, then David Lee feels you are fighting a losing battle. Furthermore in a recent article by Sarah Lacy for Tech Crunch, Lee states an opinion for younger founders doing better than older company founders based off of desire to put in the work necessary to build the business from the ground up. (Lacy, 2011)


Business Plan Expert #2: Guy Kawasaki of Apple

Bio/Background
Guy Kawasaki, American venture capitalist and ...Image via Wikipedia
Guy Kawasaki is known from Apple computers where he began work in the early 1980’s. From Apple, Mr. Kawasaki started a few businesses that developed software later to return to A
pple in 1995. Later still, he left Apple to start his own company called Garage (matchmaker for angel investors and entrepreneurs). Guy Kawasaki has a B.A. from Stanford University, M.B.A. from UCLA, and is an Honorary Doctorate from Babson College.

What is important in a BP to investors?

Mr. Kawasaki believes there are certain parts to the business plan that stand out: Executive Summary, Management Team, Business Model, and Product being his top four. Furthermore, he believes a business plan developer should spend 80% of their time on the executive summary because this piece is typically first viewed by an investor and if not impressed the investor will not read further.

Subsequently, the size of the business plan should not be more than 20-30 pages in Guy Kawasaki’s opinion. He feels the plan loses its bite and effectiveness if too much information is provided. Furthermore, each section should begin with just one page per section and only augmented if absolutely necessary. In a recent article found on Artist House Music by George Howard, Mr. Kawasaki describes the power slide pitch to investors as being “…no more than 20 minutes” with 10 or so slides to succinctly get the business model concepts across to investors. (Howard, 2007)

Sources:

Howard, G. (2007). How to create a business plan. Artisthousemusic.com.
Retrieved on Septemeber 6, 2011 from
http://www.artistshousemusic.org/articles/how+to+create+a+business+
plan                               

Lacter, M. (2011). Gold rush is back in silicon valley. LAObserved.com. Retrieved
on September 5, 2011 from

http://www.laobserved.com/biz/2011/04/gold_rush_is_back_in.php
Lacy, S. (2011). David lee and ron Conway bust entrepreneur myths on stage at
disrupt. TechCrunch.com. Retrieved on Septemeber 6, 2011 from
http://techcrunch.com/tag/david-lee/



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Music Blogs vs. Album Release Websites

10:48 PM Secrets of the Music Industry , Posted in , , , , , , , , 0 Comments


Recently, Chris Leavins for blogs.com wrote an article discussing the top ten music blogs you haven’t heard or read yet. The article seemed to focus on bands and new releases that had their own blog made completely to generate public opinion on a specific project or release. Also, Mr. Leavins describes a trend in the music industry that stays away from creating complete project websites and has gone for a more grassroots approach via blogging to garner public interest in a new music offering.

I applaud the move to blogs because it engages the people and connects them in a way that is much better than a static website. The website has become less of a necessity and the subsequent expenses can be added to the bottom line profitability of a given music release. Furthermore, the content loss with a blog versus artist release website is minimal given the variety of content that can be offered through the blog’s simple HTML coding parameters.

Furthermore, this blog will be moving towards an approach that lends itself to better public appeal. The team here has included a brief survey for catering a series of blog postings on music production tutorials. These postings are not your typical tutorials because we take for granted you as a music producer don’t need to know the same answers to things readily available online via generic You Tube posts. This series focuses more on industry secrets and the scientific principles that undergird them in a relevant studio environment.

Be sure to fill out the survey to help us zone in on what the first few postings should be geared toward in the series. Thank you all for the support and be sure to leave your own comments.

References

Leavins, C. (n.d.). Top ten music blogs you haven't heard (or read). Blogs.com. Retrieved on August 20, 2011 from http://www.blogs.com/topten/top-10-music-blogs-you-havent-heard-or-read/


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Milton Bradley: The Answer to Unemployment?

10:49 PM Secrets of the Music Industry , Posted in , , , , , , , , 0 Comments


Full Sail University's very own Ron Cook posted a recent blog entry that peaked my interest regarding entrepreneurship. Mr. Cook addressed the notion that in these tough economic times when unemployment is at record highs, you should employ yourself! Business program college graduates amass all this knowledge of how to run business the right way so that someone else can reap from their understanding.

It should be noted that part of Mr. Cook's job description is to consult with students regarding the plausibility of their business plans. Narrow focus that addresses a need that is not being met in the marketplace is key according to Professor Cook. Also, he says that seed investors should include family because if an angel investor has to ask you if any family gave to your idea and you say none have then why should a person that doesn't know you at all give one red cent? Moreover, Prof. Cook explains differentiation as something necessary and not cliché.

I agree with all points brought forth in this insightful article. I would even add a few things of my own. Today more than ever diverse revenue streams are needed to compete with the growing cost of basic necessities. Normal jobs by themselves will not fund retirement because social security may not even be there. Plus, to qualify for this government assistance you have to be worse off than any of us want to envision ourselves. Consequently, investing, learning the stock market, creating residual income, and understanding the world economy (not just domestically anymore) is a growing need.

Milton Bradley CompanyImage via Wikipedia
Schools do not teach things even as simplistic as Monopoly, why? Perhaps the AG student in the 1st grade would be better served playing a game from Milton Bradley than Activision or some other video game. These are the thoughts of an aspiring business owner. People around the globe 
love what the United States stands for with democracy and interestingly at its fundamental concept business wise the picture of what we as Americans represents can be seen in the simple form of a Flea Market. That is free enterprise at its finest.

References:

Cook, R. (2011). Cooking up an opportunity. FSO blogs EBMS. Retreived on
August 6, 2011 from
http://www.fsoblogs.com/ebms/2011/8/3/cooking-up-an-
opportunity.html
  

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Audiosocket: Spend Money, Make Money

7:02 PM Secrets of the Music Industry , Posted in , , , , , , , , 0 Comments

Image representing Audiosocket as depicted in ...Image via CrunchBase

Have you ever wanted to license music quickly for a marketing project or promotional effort? Have you ever stolen the song elsewhere because of the time and process? Audiosocket makes it easy to license music the right way to use in almost any marketing avenue. Plus, did you kno
w you would share in the revenue created from the plays of the songs you decided to license? I thought that might get your attention.
Listen up! Audiosocket is not easy to get into if you are an artist that makes music. They screen everything and only have about 19,000 songs so far. However, if you are lucky enough to get content in the system, then with the right promotion your music can easily be licensed by businesses, film producers, record labels, or any other business looking to make a commercial of some sort. What is in it for them you ask? They make a small revenue off the song as you do each time it is played! An investment is measured by how long and how much you get back. Imagine spending money on licensing a song, then over time making back your money through your marketing of the song and actually making more money off licensing it than you spent on it originally!
The logo for the Billboard magazine.Image via Wikipedia
This is an amazing idea that could only be done legally if all the publishing houses were on board. Oh wait; Audiosocket took care of that according to an article by Anthony Bruno for Billboard where the company got BMI and ASCAP on board earlier in 2011. This idea is genius! Imagine all of those You Tube vids that use bootlegged content from your favorite artists, now using licensed material and promoting new artist’s music because it helps them make money instead of taking money from the artists. Could it be that music may have found a way to combat illegal downloads by helping people make money? My dreams have been answered…or have they? Only time will tell.

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Spotify: A Brand New World?

6:32 PM Secrets of the Music Industry , Posted in , , , , , , , , 0 Comments

Image representing Spotify as depicted in Crun...Image via CrunchBase
Spotify comes to the U.S. It is like iTunes, meets Pandora, meets the Copyright Office, meets Harry Fox’s sample clearing agency. The revenue streams are vast with premium accounts that allow you to save playlists offline, bring up tunes on your mobile devices and home computer, as well as share via Facebook, Twitter, and instant messaging services. In addition, there is a copyright registration service for recording artists that charges $85 per submission that is user friendly, simple, and provides customer service for any concerns dealing with the copyright process. Subsequently, Harry Fox Agency has inked a deal with Spotify that will allow mechanical rights to be cleared as a new submission is distributed over the net.

Spotify serves quite a few purposes that can streamline promotional efforts on the web for artists. For instance, if I decided to release a new album, then I could upload the release on Spotify, get it copyrighted, any samples cleared, and start promoting the album via sharing it to Facebook, Twitter, vids via You Tube, and use the forums as an interactive review board for the tracks. Keep in mind Spotify pays only $0.0043 per play, so, other types of marketing will be necessary. The interesting thing on Spotify is the ability to market “leaked tracks” or “firestarter tracks” that lend themselves to build a following. Thus, Spotify can be used to get gigs, build tours, land interviews, and possible publishing/distribution deals to solidify more lucrative revenue streams via downloads, album sales, merchandise sold at venues, licensing opportunities, and more.

Some hail Spotify as the second coming, but I see it as just another tool or arrow in your online marketing quiver. It is very powerful as a sharing tool, but remember the times are circling back to the times of touring acts and bands. If you can find a way to be a touring act that never has to leave your home, then fine. But if you could do that then your garage would be large enough to sell enough tickets to make serious money. Until then, get on the road, get gigs, be willing to travel, and make money.

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