Mastery Journal (Post #XXX Business Plan Development)
This month in Business Plan Development, all the material and elements required to construct my business plan (Aspire GREATNESS Entertainment Inc.) has been refined and concentrate to meet the requirement I’ve envision and make for a well-developed Final Presentation. Over the course 11 months the process of refining and re-elevuating this business plan has been a rigorous task that demands motivation and drive, which looks to propel you across the finish line.
Company Description and Industry Analysis:
During the beginning of Business Plan Development, I (Mack Shannon) honestly didn’t have a strong understanding of what it is my company truly does (on the surface yes, but beneath no) and what it is that Aspire GREATNESS Entertainment was looking to convey to the masses. That was a difficult task, because though this is just an assignment, the actually you want to portray through your work trumps the misunderstanding and excuses.
Target Market, Competition and Market Analysis and Sales:
Next section of the project was asking and answering the question of “who” is your target audience, truly problematic. With my given industries (film, broadcasting, & publishing) being broad, condensing my audience to certain regions would reduce the greatness of each market. Another problem was understanding the sales. How much am I going to charge for my service/products? Asking the right questions on the matter, allowed me to successfully break down my sales and look at it from another perspective. Seeking to participate in the entertainment and media is not for the faint of heart. Knowing your opponent or competition afford you the design to compete and survive.
What are your strengths, weaknesses, opportunities, and threats? When this was proposed to me, in my mind I thought I had the answers. However on paper, my reasoning wasn’t strong enough to compete or pose a threat to established companies and corporations governing the entertainment and media industry. But through detailed analysis of other start-up companies, and review of top tiers, I break down that (A.G.E.): Strengths: Adjustability and adaptability. Note: either adapt or die out. Weaknesses: weak presence. Opportunity: Focus on exploiting the slow recovery of other companies. Threats: Increasing competition and economic climate.
Operations, Technology and Management
This section allows me to deeply decode the mechanics of my company, develop a strategic approach and establish credibility our audience and potential partners. Aspire GREATNESS Entertainment looks to demonstrate originality in content and creativity in presentation.
Note: When money is on the table and business is being executed, that bad business. For Aspire GREATNESS Entertainment to have a name, money is the motive. Through various investors (angels, venture capitalist, crowd funding, and family (pending)) my company can come to fruition, but my ambition has to match the work being invested.
This course has assisted in showing me the time and patience is needed to create a business. Business Plan Development was a rigorous course, but do you expect a course to be easy only a month away from graduation. The various material presented I will hold on to, for reference, because you never know if your going to need it again in the end or not.
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