As we draw nearer to the end of the chapter of this part of my life, I am charged now to write about experts in the field of writing and/or reviewing business plans. It has always been my dream to bring forth the other types of Caribbean music so that the world could see us in more than one dimension. For this writing, I will be comparing the styles and suggestions of two industry experts.
My first expert is Peter Spellman, Director of Music Business Solutions and Director of Career Development at Berklee College of Music, Boston, MA. Mr. Spellman brings to the table over twenty years of experience as a musician, advisor and businessperson. This is a great advantage because who better than a “hands on” person to shed light on all aspects of a specific field.http://www.mbsolutions.com/articles/writing_music_business_plan.html
My second expert is Lee Ann Obringer, a writer for howstuffworks.com. According to her biography on www.howstuffworks.com, Ms. Obringer has a “Bachelor’s degree in journalism and advertising with an outside concentration in marketing from the University of North Carolina.”http://www.howstuffworks.com/business-plans.htm
Both of these experts can’t stress enough that one needs to have a passion for what one wants to do and to have a plan. One might not need a lot of money (but you will need some), but a plan is critical. You’ve got to see where you’re headed, at the risk of sounding dramatic when you go to bed at night YOU PLAN to wake up the next day, otherwise..(Well you get the picture).
Writing a plan allows you to focus, it allows you to be creative and it gives you structure. Additionally, when seeking investors being it family, friends or outside sources everyone wants to see and understand the whole picture. It also gives credibility and affords you reliability. You can’t just go to the bank and say you want $5, 000, they’ll want to know the who, what, why, where, when and how’s of it all. I remember when I used to go to my grandfather to ask him for an advance on my allowance (can you hear the story already?), he would ask me why did I need the money, where was the allowance from a month ago and was this going to be an ongoing thing? I caught on pretty fast, if I wasn’t prepared to answer his questions then I wasn’t going to get my money, so guess what I NEEDED to have a plan.
One of my favorite contestants from Donald Trump’s Apprentice is Dr. Randall Pinkett. His quiet confidence and demeanor really struck a chord with me and he proved that the odds could be defied. He is now a very successful entrepreneur and encourages others to do the same.http://www.randalpinkett.com/index.asp
These three experts emphasized that a future entrepreneur needs to have a plan. Include in the plan your passion, your goals and your research. No one is just going to give you money, get your plan and act together.
As always, what price are you willing to pay?
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