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This program has been very challenging. At first glance, one year does not seem very daunting, but the amount of effort required to succeed is substantial. Twelve courses later, we have the chance to reflect on exactly how those challenges have changed us. I will examine the changes by course, beginning with the first month.
The first course, Personal Development and Leadership, gave us a look at the foundations of leadership from a personal perspective. Topics such as: discipline, focus, determination, and assertion were discussed in terms of career advancement and longevity. We used the 48 laws of power to understand exactly how to apply specific ideals to situations.
By the end of the first course, I had a better picture of how I was to change in order to be more effective in any given situation. Accountability is the foundation of leadership, and self-discipline is the foundation of success. These lessons will influence every decision I make from this point forward.
In Executive Leadership, we took those personal lessons and applied them to a working environment. The ability to self-govern is vital to the success of any leader. At specific times, there may be an opportunity to exercise absolute power, but a friendly coaching session will more than suffice.
We examined real world examples of leaders and how their approach to leadership has given them longevity in their respective industries. In any industry, it is imperative that the main decision maker be knowledgeable, and understand the importance of employing all levels of leadership depending on the situation. On an executive level, it is of the utmost importance to understand the composition of your team before any new policy or regulation is put into place.
Project and Team management gave us the opportunity to see how leadership plays the most important role in the success of any team or project. The role of a project manager is to take every aspect of the project and determine the best course of action to achieve the goal. Budgets and timelines help with planning, and provide visual cues for the rest of the team.
From an entertainment perspective, it is always a good idea to have visual indicators of success. I tend to use a dry-erase board in the studio to keep priorities in order. Artists always react positively when they see their engineer is organized and goal-driven. When the team increases in size, it is important to keep a fundamental approach.
Business storytelling and brand development was my favorite course in this program. Depending on their area of expertise, business professionals may argue that branding is the most important aspect of any business. When producing my brand identity guide, I was forced to explore the key concepts behind my business idea. Every small detail is critical when establishing a brand, and special care must be taken when making final decisions.
I was forced to explore the power of color, font, and logo development. The general idea behind a brand is to give a consumer a certain thought or feeling that will be permanently attributed to any representation of a given business. I have a tendency to overthink things, so this course was very exciting. I had no idea what I would choose, and the experience was akin to watching a high profile awards show.
Entertainment business finance was the perfect companion to the branding course. After being forced to make a decision on what type of business I wanted, I was given the task of understanding how much this idea would cost. We developed a Pro Forma financial statement, which was a general overview of the financial side of our business ideas. My personal business idea involves a recording studio, children, community development, and education.
From a financial point of view, my business plan will be relatively easy to employ. The startup capital required is not substantial, and no extra manpower will be required in the early stages of operation. I plan to start small, and scale up as much as my finances will permit.
Negotiation and deal making explored the world of contracts. We were forced to understand the key concepts involved when negotiating, and how to successfully make a deal. Mutual benefit is the fundamental concept behind negotiating. In contracts, the deals normally include provisions that dictate the actions of the parties involved. Times, compensation, venue, and each small detail is carefully spelled out on paper. This acts as a sort of “constitution” between the parties involved, due to it’s legal nature.
The downside of contracts is the restrictions they place on the individuals involved. An artist may sign with a record label, but their cousin wants them to record a duet. Contract restrictions would not allow the artist to record the duet unless cleared by the label’s legal team. They could record the song without consent, but that could lead to costly litigation.
Product and artist management honed the management skills of the team course. We were forced to explore how endorsements contribute to the success of professionals as well as the companies who hire them. This all goes back to branding. A luxury watch brand would not employ a professional who did not exemplify their ideal customer.
I explored the career of Herbert Breslin, the prolific manager of Luciano Pavarotti. I learned that the best way to become a successful artist manager is to have a clear idea of what makes your artist special. Once you have determined this special quality, take every measure imaginable to portray this quality to the public.
Advanced entertainment law explored the legal aspects of the entertainment business in general terms. We all understand the law is a specialized field, which requires intense studying to fully grasp. In light of this knowledge, we explored the liabilities present at any given moment in the entertainment industry. Intellectual property was the main focus of this course, and we explored present examples of court cases involving copyright infringement claims.
Most claims can be proven fairly easily, but there are special cases where the court must reference several prior judgements to fully clarify the decision of the judge. For this purpose alone, I have vowed to never sample another artist’s work.
Publishing and Distribution was the key to the entire program. Once the product is properly branded and funded, the revenue stream must be access through sales. The only way to make a sale is to give a product to a consumer for a sum of money. Distribution is that “give”.
We learned about the new forms of distribution brought about by technology. The Internet is a powerful distribution tool, due to the myriad of services available to individuals and businesses. One can simply record a song at home, and employ the services of a handful of sites, and gain national success. This is of course a fantasy scenario.
Digital marketing was a look into the inner workings of the internet revenue model from a marketing perspective. I learned that the best way to gain national attention is to saturate the web with marketing material. This material must be of the highest quality, and must be consistent in nature to be effective.
Social media has increased the connection between brands and consumers to personal levels. With this in mind, several brands have created social media profiles to interact with their markets. This interaction can streamline operations and increase profits. KPI are the most important aspect of digital marketing, and allow the marketing team to maximize the campaigns.
Business plan development was a vast undertaking. The entire contents of the program were to be compressed into a functional plan, and intense research was required to have the necessary information to make the plan work. We explored target market, operations, management, and every other aspect of a business plan.
By the end of the course, we only needed the executive summary and formatting to have a final draft of our business plan. During this course, I learned the importance of research, and how access to information can spell success or failure.
In this final course, we presented our final business plan after composing the executive summary. It does not seem like a year has passed already, but I have learned a great deal about the inner workings of the entertainment industry. I also have a better general understanding of how to run a business.
When I began this program, my aim was to open a recording studio. I now have ambitions that reach far beyond my original goal. I look forward to becoming successful.