Both experts I
chose to follow offer great advice. I will start with Russell Simmons, the key thing
that Mr. Simmons said was, “Stay on your hustle,”
“Don’t quit.” It is important to stay strong through out the business journey;
it is tough road with a lot of closed doors. I have learned that working hard
and continuing to do what I believe in will pay off. I recently got an
internship position with Terrence Huggins, T-Pain’s Manager. Getting this
internship will help me start working toward my Opportunities part of my SWOT
Analysis. I am new to the Music Industry with limited resources to successful
in building my Talent/Artist
Management Company.
The second Expert is Reid Hoffman, the founder and creator of LinkedIn. LinkedIn
is the largest professional network. Through LinkedIn you can, “build your professional identity online and stay in touch
with colleagues and classmates, as well as discover professional opportunities,
business deals, and new ventures.”
Mr. Hoffman says, "Even
if a business has both a large audience and the right product, without cash flow,
everything will end in failure. The business plan must make allotments for not
only the initial funding but also ongoing stable funding. By having
available capital, a business can continue to operate and grow no matter
what unforeseen changes may take place.” Ried Hoffman’s advice leads me to
the most important parts of the business plan.
The most important part of the business plan for the
investors to notice is growth. It is crucial to be able to prove that there
will be a breakeven within the third year. One of the main reasons most smallbusiness fail within the first three years is due to not properly budgeting and
taking into an account hiccups along the way. I also believe the investors
should read the business plan very carefully and take into consideration the
amount of drive each individual shows through the plan. With a right amount of
passion, drive, proper education and financial backing I believe anyone is
capable of being a successful businessperson.
