Looking to the Future

For the past year I have been diligently working on acquiring my Masters degree in entertainment business. Today marks the final day of that journey as all of my classes come to a close and I look toward my graduation in the coming week. However, that doesn’t mean my time dwelling on the world of entertainment business is coming to a close. In fact, it means quite the opposite. As the door to my education closes, the door to my career is flung wide open. More of the film industry is being thrust upon the shoulders of the up and coming generations of filmmakers. While the great names still hold their own weight, the number of avenues for recognition is increasing and it’s becoming more available for new, young directors and writers to get their names out there. Between video on demand choices, digital platforms, and the multitude of contests and festivals around the world, there is a wide array of choices for the budding teams of filmmakers out there.

Despite the fact that several major studios have closed recently, the film industry is still managing to stay afloat. The price of tickets has been steadily increasing over the past few years, and numbers have managed to dip, but records are still being broke and revenue is still being generated. The key to success now though is keeping your options open. In the old days of Hollywood, the studio system held a tight grip. They become large umbrella corporations that dealt with the inception of a movie idea all the way through which theatres it would be shown at. But these days have long disbanded, and the studios we are seeing that have become defunct are the ones draining their budgets, putting their eggs into one basket for summer blockbusters, yet manage to fall short. Without being able to reap back all of the money spent, the studio has no other option but to cut their losses.

In today’s world it’s all about keeping your mind open and being receptive to fresh ideas. We live in an age where people want more digital content. They want the satisfaction of instantly being able to watch a film; they want it at their fingertips. Having the ability to stream or download films is a no brainer now, and the studios that are in tune with this are the ones who are managing to survive. They may have many small projects in circulation as compared to one behemoth hit, but their studio is still making money for itself. And in today’s world where, especially in the horror genre, the look of first person, hand held, or even cheap films are becoming increasingly popular and it helps keep budgets nicely in check.

Coming in the industry in its current state, I’m proud to have these responsibilities rest on my shoulders. It is the new, creative generations that will make things stand out and find even more ways to deliver content to audiences. It’s fresh and exciting, albeit somewhat scary, but if you want to keep the spirit of film alive through passion, not caring about being a multi-millionaire, it seems like quite an easy task to undertake. I’m ready to make a career out of the industry that I have fallen in love with, and despite these new market trends being a mystery to the generations of old, they are business models that I would be happy to sink my teeth into.

The Road to File Sharing

Illegal downloading and file sharing on the Internet have been hot button issues since the days of programs such as Napster and Limewire, and one that the U.S. government has been desperately trying to get under control. They have even gone so far as to randomly prosecute individuals, mostly of college age, and charging them with thousands of dollars in fines to attempt to make examples of them to the majority of the public. However, will they truly ever get it under control?

The Internet is such a vast space that it’s hard to keep track of everything. Last year one of the web’s most popular file sharing sites Megaupload made the spotlight when its founder Kim Dotcom was charged with racketeering. This shut down the chain of Mega-themed sites that were under the Megaupload umbrella, but it wasn’t long, mere hours, before other sites were popping up to take their places. How much good does shutting down one site and fining one individual do when there are five more sites to immediately take their places? While the U.S. government would like to think this is an issue they can get under control, file sharing sites in themselves are not illegal, as paying users can use these sites to share their own original content amongst friends, fans, and colleagues. It’s also a good way to share content between computers if someone does not have an external hard drive. Or for universities to be able to utilize them for paper and project sharing between students and staff.

The days of the file sharing site are not short lived, as Kim Dotcom proved today at a press conference in New Zealand where he unveiled his brand new site which would take the place of Megaupload, simply titled “Mega.” It was a bold statement made by the entrepreneur and one that shows the government no matter how proud they may feel of one take down, the service that sites such as these provide is in high demand.

In addition to using websites there are a multitude of other ways that people can share content. It can even be argued that inviting friends over to watch a DVD is illegal file sharing because only one member of the party actually purchased the content. It would be no different than buying a movie and ripping it for a friend, either. However, with the Internet, it just aids in people reaching greater audiences. So instead of sharing with one friend, you can share with one hundred.

Whether people feel they can support their favorite music act and film franchises in other ways, or an individual doesn’t use these sites based on principle, it is certain that they will be creeping up continuously for years to come. While it may be a nice dream to get the dreaded threat of illegal downloading under control, the government has a long and bumpy road ahead of themselves. 

Source: http://news.yahoo.com/indicted-megaupload-founder-opens-sharing-004242442--finance.html

Business Plan Perspective

Since I never had the aspirations to begin my own business, I could never understand the importance of needing to take specific business plan classes, which is exactly what I had to do in order to complete my Master’s degree for Entertainment Business. It may sound logical that if one is getting a degree in business that they further have plans to start their own business, however, as someone who takes their job as an office manager and personal assistant quite seriously, I simply wanted to have the greatest amount of knowledge in my arsenal as possible to make me a valuable employee. I wasn’t sure how I was going to use the business plan knowledge and spent my time attempting to come up with a fictional company based off the final project I used to for film degree, and a real life scenario from my previous job and the documentary that we had been working on.

However, the further I got along in the business plan I realized that it was very similar to putting together project proposals, except instead of focusing on one project for the company, you were focusing on the company as a whole. I had put together several project proposals and several funding packets that had many of the same aspects to them and I realized that was going to be how and why this courses helped me so much in the long run.

Even if I never do follow through and open a business, being able to logically put together all of the information about a company, or singular project, is vital. It shows potential investors that you have all your cards in order; that you know exactly what you are doing, what you hope to do, how you will make money, and what you will then do with your profit. They want to make sure they are investing in someone who can help get them their money back and then some, there will be no point in going to someone with a business plan if you cannot tell them how much you will be spending, how much you project to earn, and how you will be earning it. Despite that no company is ever a solid thing, and both the location and economic climate of the area have influences, you need to put some amount of planning into it.

It wouldn’t be smart to open an ice cream shop in Alaska (though I’m sure there are some) however; it would be smart to work with snow mobile repairs in the same area. Knowing your target audience and what you want to do with your business shows investors that you are ready and willing to make money. Your business plan helps get you there.

All of the knowledge that I accrued in the class will be vital, whether I reference it for future funding packets or venture to use it while making my own business plan but I think the most important things I learned were about finances, even if I was a bit shaky on them. I’ve always had the ability to work within a budget and handle money in that respect, but in order to project how much something as vast a company would cost, and then make based off what I was assuming was a fictional product, was quite difficult for me. Even if I didn’t get the numbers quite right, it helped show me the type of planning that goes into working with the finances of opening your own business and I know it will be invaluable information for me in the future.

Business Experts

Spotlight On: Akira Hirai.

Hirai is the founder, CEO, and managing director of the business consulting company Cayenne Consulting – “business plan consultants with venture capital experience” – where he is currently working. He has had experience in the business industry for over 20 years now, after earning his BA in Engineering Sciences from Harvard University, and working in such places as New York City, Phoenix, and now Orange County, California.

Hirai started Cayenne back in early 2001 with what he says was a very simple mission, aimed toward venture capitalists, “Help entrepreneurs get their act together before they talk to investors.” The world of business can be both time consuming and confusing, therefore, Cayenne was started as an objective third party with a laundry list of services they provide such as strategy development, market research and analysis, competitor research and analysis, business plan preparation, and financial analysis and forecasting. This frees up the client’s time to focus on the rest of the areas that are going to matter most to investors. Cayenne acts as a partner taking on the tedious tasks for the client so they are left to help build a stronger market for themselves that will help investors notice them.

Before Cayenne, Hirai was already well versed in the world of business and had held several prestigious jobs – and founded two more companies. In the Silicon Valley area he kick started MyRaptor.com and ID Networks before he started focusing on the world of venture capital. Before this he had worked his way up through the ranks over four years to become Vice President of the prestigious Salomon Brothers in New York. He has also held several other job titles that include financial risk management consultant, software engineer, and advertising sales manager. He is a man who has had his hand in the world of business for many years now, and someone to be trusted with advice in creating new companies.

Resources for Akira Hirai:

http://www.caycon.com/business-plan-consultants.php

http://www.caycon.com/about-cayenne-consulting.php

http://www.linkedin.com/in/akirahirai

Spotlight On: Carolyn Kepcher.

Kepcher is most highly recognized as appearing on the NBC television show The Apprentice, not as a contestant, but as Donald Trump’s right hand woman and assistant who helped make all the final decisions about who was to be fired. She held this position because of her almost ten years of experience acting as the Executive Vice President, Chief Operating Officer, and General Manager for the Trump National Golf Club.

Kepcher started out her business career selling Avon products door-to-door and working as a restaurant manager in Manhattan while she earned her marketing degree from Mercy College. Eventually she found herself in the position of a sales and marketing director for a New York City golf club, which was eventually to be auctioned off. The man who bought the property was none other than Donald Trump. Impressed with her ideas about how he could best use his newly acquired golf course, he hired Kepcher in 1994 as the director of his sales and marketing. After four years in this position, when the current general manager was fired from Trump’s organization, Kepcher landed her the job that would eventually take her to overseeing the National Golf Club.

In 2006 her time working with Trump came to an end as she too was fired, based on Trump’s ideas that her “newfound celebrity status had kept her too busy with speaking engagements and endorsements to focus on her responsibilities for the Trump organization” which he reported to The New York Post. Not letting this stop her at all, she thoroughly developed the idea for her company Carolyn & Co. where she became the CEO. In 2008 she turned to MasterPlans in order to be able to help launch the company’s first campaign with WorkHerWay, which was described as the “ultimate online resource for the working woman” and provided a broad array of services to be able to cater to business minded women who many not always get the best care at other companies. However this campaign has since run its course and the website is no longer available for information.

In addition to founding her company, Kepcher has a wide array of skills and jobs behind her. In 2004 she wrote the business book Carolyn 101 which made it all the way to number two on the New York Best Seller List. She even had plans with Microsoft where they would be able to make an Apprentice-like television show focused on small-business ventures where she acted as one of the three judges. However the show never proved to get off the ground.

She wrote extensive business career columns for the New York Daily News, was a contributor for FOX Business, and has been used as a consultant on various programs such as The Oprah Winfrey Show and The Today Show. Currently she serves on the board of the Back Nine Network and uses her savvy business knowledge as a consultant for the golf industry where she is still highly regarded as an expert.

Resources on Carolyn Kepcher:

http://en.wikipedia.org/wiki/Carolyn_Kepcher

http://www.speaking.com/speakers/carolyn-kepcher.php

http://www.masterplans.com/clients.php#kepcher

http://www.nydailynews.com/topics/Carolyn%20Kepcher