It has been an interesting month in my business plan development course at Full Sail University. My research has helped to shape my company into a more viable entertainment business. On my last post, I researched two experts in the field of business plan development, Brian Hill and Dee Powers from Profit Dynamics Inc. I learned that a business plan must be written to appeal to investors. According to the expert research, the components of a business plan that are key to raising capital include a well-qualified management team, growth potential, product and size of the market (www.go4funding.com). This information gave me an insight and I included these key components in my business plan. My goal is to appeal to investors, start my own media company and finance two musical films I currently have in development.
As I looked at my own management team, I realized that more diverse qualities within the management team were needed to appeal to investors. So I began to search for another business partner to be sure I had a solid team with the necessary skills to successfully start my endeavor. I wanted someone who had the same passion that I have for creating engaging musical films. I decided to ask a friend and colleague from college, Andre Mika to join my team. Andre Mika has a similar passion for music and a strong resume with experience in both digital online platforms and studio entertainment production. Mika is regarded as one of the industry’s leading new media and digital strategists. He provides brands with valuable insights about how combining creative, technology and live experiences create better engagement with customers (www.tbaglobal.com). His experience will compliment mine and give investors the confidence to invest in our mission.
Additionally, I wanted to be sure I was engaging the teen and young adult market. I needed someone with direct experience with this demographic, proper qualifications, credibility and talent. The light bulb went off and I decided to bring Dr. Steve Zegree onto my team. Dr. Zegree is one of the leading music educators in the world as the Professor of Jazz and Director of Gold Company at Western Michigan University. His students are among today’s leaders in jazz and pop performance, Broadway, recording studio production, writing, arranging, singing and music education (http://wmugoldcompany.com/about). His experience will bring credibility to the quality of the music of each film. This is important as I differentiate my company from other “bubble gum” musical films aimed at the teen and young adult market. We engage this market through the film as well as the licensing of the live musical production. Zegree’s experience with arranging contemporary music for this audience will benefit my organization and allow my company to further achieve its goals.
Another key component that investors look for is growth potential. It is important to include realistic financials in a business plan and discuss growth opportunities. Therefore, I included a chart with low, medium, and high sales projections so the investors can see a realistic overview of the potential return on their investment. This section was added to my business plan because of the research of the aforementioned business plan experts.
The most important section of a business plan that investors will be looking for will be the executive summary, the management team section, and the financial section. It will be important for me to communicate the mission of my company and have a strong overview in the executive summary. The first and the most important part of a business plan is the executive summary, it grabs the reader’s attention. This crucial section must be written professionally without any errors and contain all crucial points that attract potential investors and lenders in brief (Haider, 2009). In addition, make sure to have a strong management team and give the investors’ confidence that the team is qualified to successfully run the organization. Most importantly, show that the company will have a high probability of a return on their investment.
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