Part 2: What do the Experts Say?

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.