Mobile Media and the Future

As the consumer changes, businesses must change as well. Business’s need to be where their consumers are. Consumers are driving the entertainment and mobile industry and without staying attend of the current and future trends, business will be lost in the sand. Music Entertainment and Mobile marketing is a small segment of the music business. As mobile applications continue to rise, studies are showing the music industry will be impacted as well. “According to Telecoms & Media, the global mobile music industry generated $14.4 billion in 2010” The breakdown is as follows:

What trends are going to, is the option for non-developers to build their own mobile applications. Most musicians do not have a m.website which will allow their information to be viewed on a mobile device including but not limited to iPhone, iPad, Andriod and more. There is a new service called Mobile Roadie, which allows bands and businesses to use templates through their websites to submit an application. The information shows musicians need to keep up on trends and be able to send their music, information and more to their audience in the most convenient manor.  Informa Telecoms & Media shows where Mobile Music Revenue will be in the future and companies like JM Productions will allow full track and streaming revenue to increase.

                                            

ShareSquare is an upcoming site to watch as musicians can turn their website into a mobile site in an instant. Their current plans offer many of the options business currently offer and when musicians feel they can do it themselves, they feel they don't need to pay a marketing agency.  As a marketing agency must continue to show how they are unique and beneficial to the client, including in-depth knowledge of the digital marketing industry; they must stay above the competition.  As Sharesquare says, “If a mobile visitor to your existing website is unable to quickly and easily engage your most important business objectives (for example: connect on Facebook & Twitter, watch your videos, listen to streaming audio, contact you for more info, or make a purchase via mCommerce) then a rapidly growing percentage of traffic to your website is being wasted.” This is prime information and all musicians need to keep abreast of a wide market they possibly good be missing.

As a college graduate with my Masters Degree I now have a full understanding of how quickly the industry is changing and understanding of online digital marketing is extremely important. I have had the opportunity to fully understand how SEO and SEM is managed and how much of an impact I can have in the industry with musicians.  As the saying goes, Knowledge is Power.

http://dottedmusic.com/2011/marketing/mobile-music-app-revenue-predictions/

http://getsharesquare.com/faq/

Where to Find Investors for a Start Up Business

Association for Enterprise offers several different types of financial services and lending. These include loans, checking accounts, savings accounts, individual development accounts as well as credit reporting. They even offer program focused areas and training for business and technical assistance. Through Association for Enterprises I located ACE; Access to Capital for Entrepreneurs.  ACE allows borrowers to apply for a small business loan of up to $50,000 with just a click of a button. The eligibility requirements is a credit score of at least 550, free of active bankruptcies for the last twelve months, mortgage and rents payments on time and all student loans to be in good standings. Additionally documents that are required include, business information, bank statements, pay stubs, business budget and debt information and of course a business plan, financial projections, start up budget and proof of equity. Association for Enterprise Opportunity offers “Find a Mentor” which I believe is a great added service to AEO. AS a new business owner, having someone to turn to for advice on an ever changing industry will be the key to a new business owner’s success. An advantage I see through their website is a new pilot program called, “Community Advantage. The program is intended to meet the needs of small business with their credit, management and technical needs. They focus on a $250,000 or less mission and help development their business. This type of program is a great opportunity for new business owners like me which will allow focus on the development of our business in a short amount of time.

Reviewing Opportunity Finance Network, allows an entrepreneur knowledge of their financing policies as well as news, innovations and results they have already received from other businesses. The website offers the criteria overview for loans and investments including what mandatory requirements are. Some requirements that are mentioned demonstrate at least two years of operating surpluses in the last three years as well as the capacity to use capital productively. The application details out what each business must submit in order to be considered allowing the new business to fully understand what each investor is looking for when investing in their business. Some of the requirements Opportunity Finance Network asks for in their application is organization information, primary lending Sector, as well as financing amount. They also require supporting documents which is included in a business plan such as pro forma balance sheet, three years of projections, organizational chart and a full business plan. A great advantage of Opportunity Finance Network allows the business developer the opportunity to search their specific area as well as organization type and type of lending that is needed. Extremely user friendly and straight forward which is fantastic. Reviewing the website I did find a disadvantage of alternative financing as I was not aware of the pay back structure and requirements. Their website does not list the full detailed information, which to myself as a borrower, would like to understand.

How to be Successful in Writing a Business Plan

Reid Hoffman is a great entrepreneur and mentions how to develop a business plan in a rapid growing market of technology. His questions of reaching a massive audience, a unique value proposition and is one’s capital efficient enough are questions I have now answered when drawing up my business plan. If I am able to solidly and confidently answer these questions within my business plan I believe investors will look to invest in a service for musicians that is not currently being maximized. Reid also mentions questions to ask oneself of will one have enough cash flow? No investor will want to invest in one’s business if there is no cash flow being produced.

http://www.360digitalartist.com/business-plans-experts/

The most important section to the investor when reviewing a business plan would be the financials. As investors, they want to know how the large amount of money being given to a start up business will be used and become profitable. Investors need to know they are making a good choice and not placing their time, money and knowledge into a product or service where their return on investment will not be in their favor. The idea of investing is to put ones money into something that will return a higher profit. If one’s business plan does not have good financials, then the investors will not want to risk spending their money. I believe a good set of financials also shows the investor, one has done a thorough job in researching the industry as well as the market. As stated in Allbusiness.com, “First businesses live or die with cash – not profits. Second, cash makes much more sense in a plan, laid out month by month, than in your head. Putting it down on paper will help you understand your cash flow projections and any problem will become immediately apparent.” http://www.allbusiness.com/business-planning-structures/business-plans/3505-1.html

Another important section of a business plan is the sales section. The sales section is directly connected to the marketing section. In my business plan, my marketing needs to reflect the sales JM Productions will be producing. “Marketing efforts should show an ongoing increase in sales. The marketing and sales sections together are of high importance to investors.” As one’s marketing grows the sales will begin to move in the upward direction.

http://www.360digitalartist.com/business-plans-experts-part-2/