Good Business Components

Carlos Slim Helu is known as the Mexican Warren Buffett in business.  He started his business in what is known as one of the most impoverished countries in the world where the average annual income is nearly $14,500 per household.  He is also known as a monopolist.  He built his fortune through technology, retailing, and finance through telecommunications.  In 2010 his company was the primary wireless phone carrier for all of Latin America.

An affective business model drives Helu’s philosophy in business.  He believes in simple principles and sound practices.  He is career a reflection of strategies that are nurtured through patient bargaining and profit infused back into the company.  One critical idea that Slim advocates is to avoid investing in non-productive assets.  This philosophy is shared among most entrepreneurs that grace Forbes list. 

As entrepreneurs seek to build a successful business it is important to take on the philosophies of wealth managers across the world.  To identify the asset in business is to define value in an idea or product that will yield a return of mass proportion.   An affective business plan will describe in detail the components necessary for an asset to retain its value. 

Chuck Blakeman has an hands on approach to perfecting business.  His ideal business plan is not the written form but the actual experience. His vision is to help entrepreneurs to live well by doing good. He believes that writing a business plan takes away from the actual execution of business.  I believe that most creative entrepreneurs would agree with this philosophy.  However, I believe that the foundation of an affective business plan or model includes a winning framework that to all core to all business.

At some point the value in our business has to be people.  The work place today has robbed employees of their ability to think for themselves or contribute ideas to better the business.  The market is infused with self proclaimed geniuses instead of valuing employees as emerging stakeholders that build our business. Blakemen is an advocate with a mission to restore value back into the human resources that create global wealth. 

It is critical to take our queues from wealth managers around the world and build a sound business plan that includes sound ideals, compliant practices, and an appreciation for human resources in our business.  Our companies can be diverse, creative, and profitable as we take the lessons learned from the experiences of the generation before us.

My role as an artist manager has evolved since my first entry on this blog.  The opportunities have expanded for each artist and a few artists have made moves on their own.  Artist management is a thankless job.  What is the passion that drives an artist manager you ask?  Leadership can be identified as early as your childhood development. Artist management is a role designed for a person who is fulfilled at bringing success to others. It’s a role that requires no thanks.  When passion drives you it can lead you to success and if unbridled it can lead you down a path that leads to destruction.

The goals that were set initially were to meet all artist expectations no matter how far reaching out of my scoping or what could happen at the drop of a dime.  My goal was to secure their trust and in doing so I would secure their loyalty.  Loyalty would lead to longevity and longevity would eventually lead to appreciation.   The key to an artist manager’s success is to set goals that are tangible regardless of an emotional outcome.  

Artist managers are responsible for the safe navigation of careers.  Managers manage tasks. Most successful managers did not have prior experience with their initial clients but have gone on to achieve greatness because of past failures and financial losses.  The most valuable lessons I’ve learned has been to know when to invest, how much to invest, and knowing when your role has expired. Managers should never lose their desire to be in it regardless of past failures. 

Since staring my company I have gained a tremendous amount of confidence in my role as manager.  As a student at Full Sail University I now have the proper perspective on what it takes to be an entrepreneur.  This business requires an open mind and out of the box thinking to be a steward of multiple streams of income.  Every opportunity in this business has a goal to push you forward as a sound entrepreneur.  It may not have a favorable ending but it will be favorable to your overall growth in Entertainment.

(Photo Credit: Faith Anderson/Tenth Child Inc CEO Personal Library)

Evolution

Publishing for music and literature has changed over the course of several years.   Talent buyers are no longer recruiting large numbers of artists or writers but rather cautiously surveying talent as it evolves over time.  More and more creative individuals are charged to complete a project under strenuous circumstances that work against traditional deadlines and freedom of expression.  Artists are no longer experiencing the pursuit of record labels opening doors to multiple streams of income.  Artists must do more with less and make an exponential impact in the market before receiving the benefits of corporate investors.   

The Internet has impacted sales and kept nothing secret. The opportunity to access music unreleased and for less removed the monopoly that corporations had in music sales.  The digital access world expanded beyond corporations into the hands of every consumer with a mobile device.  The music and literary worlds were not prepared for the impact and were slow to adopt technology to support is primary asset. 

The beauty of this is that more unlikely pairs were made to support consumer interests in music.  Cellular companies have expanded data sharing options for readers and listeners of their favorite material.  Camera and Television companies have made incredible strides to create products with premium features that fit in the palm of your hand.  Artist’s who secure publishing deals now have the ability to tap into all of these markets and align themselves with brands that support their creativity.

Prior to the digital evolution artists and writers were guilty of leaving money on the table for royalties on digital sales.  Because of the adoption to technology consumers are accessing music and books primarily through smart devices made for personal use.  The numbers of Independent writers continue to grow and be exposed through digital platforms across innovations. Publishing is now available to anyone seeking to expand their message across all genres in entertainment with or without label support. 

Conflict in Entertainment

The entertainment industry is filled with incredible acts of creativity that stem from Grammy Award winning projects and Oscar Award winning films.  The stories that are being told are inspired by life experiences, historical moments, and unrealized dreams.  So what happens with the integrity of these projects is questioned?  Will the value of the work be destroyed?  Will the source of inspiration be scrutinized instead of revered?  These are important questions that lead to the recent conflicts in entertainment.  

Ablene Cooper, a 60-year-old woman who worked as a maid filed a lawsuit against Kathryn Stockett, the author of the best-selling novel "The Help."  The novel and Oscar Award Winning film were stories about black maids in the 1960s that worked for white families in Jackson, Mississippi.  Cooper argues that the character Aibileene Clark is an inappropriate depiction of her life, which has had negative impact causing emotional distress.  The potential damages to be awarded were in the amount of $75,000 due to the portrayal of the character.  The verdict in this case was in favor of Stockett and did not address the merits of the case but merely the statute of limitations for misappropriation claims of one year.  Because the author gave the plaintiff a copy of the book in 2009 and the lawsuit was not filed until 2011 the lawsuit was dismissed.  

Sony Pictures is now facing a class action lawsuit for personal data leak.  Cyber terrorism is the cause of this issue.  Although several movies were stolen, it is said that the movie, "The Interview," was the inspiration behind the cyber attack.  This film is a comedy about two journalists who conspire to kill the president of North Korea, Kim Jong-Un.  Based on severity of this claim it is believed that the persons responsible for hacking into Sony Pictures are from North Korea.  Not only did the hackers access the film prior to its release but they made it available for free download.  As many as 1.7 million free downloads have been accomplished preventing successful distribution and sale of this film in theaters. In addition to this these lawsuit artist, Yoon Mi, has filed a copyright claim for unauthorized used of her song in the movie.  

Tracy Morgan recently filed a lawsuit against Wal-Mart after being struck by one the company's driver causing an accident involving several vehicles, multiple injuries, and one fatality.  The claim includes details that the company had knowledge that the driver had not been to sleep in over 24 consecutive hours and failed to comply with the statue requiring drivers to sleep after reaching a threshold of miles prior to continuing route.  This accident cause national news on the recovery of Tracy Morgan and the issue of exhaustion among drivers in the truck driving industry.

All of these cases represent conflict in entertainment.  It is the responsibility of each employer to ensure that employees are compliant with ethical standards and applicable laws.  It is also crucial to obtain permission to use stories that are not your own and music from other artists. Each suit threatens to destroy trustworthy brands and first amendment rights.  Some cases are won by shear acts of kindness; knowledge of facts and others are won by retaliation.  It is clear and that in each case that each party is heavily armed with a team of lawyers petitioning on behalf of their clients.  There will be victories not based on the merits but mere adherence to statutes that have reached expiration.  

Happy 10th Everyone!  Tenth Child Inc Presents an inaugural networking event in Las Vegas March 27, 2015! It will feature the talent and knowledge of Grammy Award Winning artist Shaun Martin Cory Henry, Phenomenal vocalist Nikki Ross and more all of which will be captured in the best place possible... The Living Room Live is a place where all of us fell in love with music. Whether it be your first glance at Grammy's, Billboard Music Awards, American Music Awards, or the beloved Stellar Gospel Music Awards the Living Room was our first introduction to how to channel creativity. Legends like Fred Hammond, Commissioned, Official Kirk Franklin, BeBe & CeCe Winans, Vickie Winans' Friends & Family, The Clark Sisters, Dr. Ricky Dillard, O'landa Draper, James Hall, Justin Timberlake, Whitney Houston, Chaka Khan, Earth Wind and Fire, Michael Jackson, Donny Hathaway, Lalah Hathaway, Stevie Wonder, Missy Elliott, Music Soul Child, Jill Scott Timbaland and more all had their first performances on stages that launched their careers. Watching them gave young artists aspirations to play, produce, write, and sing for themselves but professionally. If you desire to hear first hand from artists who navigate between their own creativity and the launch and support of mainstream artists we know and love then meet us here at the The Living Room Live! Once you've been inspired by our featured guests get ready to turn all the way up with a live performance set featuring Doobie Powell . You don't want to miss this!!! Musicians! Come prepared to shed! Independent artists come prepared to learn, network! Music Industry come be reminded of real music and answers to help get this music into the market where it belongs! Media come ready to get the exclusive on what's next and who's ready to launch! Don't Miss This Opportunity!

Michael Bethany is a man of power and influence who toggles between roles of husband, father, leader, and artist.   He is a native of St. Louis, Missouri and resident of Dallas, Texas.   In the role of marriage there are obvious negotiations being conducted.  Similar deals occur as a father but all negotiations have rules and in the role of leader and artist there are several best practices at play when Michael Bethany is solidifying a deal.

Michael Bethany served as General Manager of Fred Hammond Family Entertainment (FHFE) oversight of daily operations, product development, and vendor management of merchants and retailers for a number of years.  During his tenure negotiations and deal making were primary activities to development a successful methodology for critical contracts.  “Everyone wants something for nothing because the risk is that they will invest in something that may not sell” says Bethany.  Because of this fact it is critical to negotiate for the winning situation for each party.  To ensure product is available to the market it is critical for merchants to purchase in bulk but most retailers begin negotiation to purchase small at wholesale rates, which limits their risk of exposure. 

The key to successful negotiations is in knowing your opponent.  Bethany recalls that becoming familiar with the other party will open the door to familiarity.  Defenses are minimal and the interest to partner is more apparent than the need for product placement.  A long-term relationship or brand alignment is more valuable than the units to be sold.  When merchants adopt an artist they become a resource to connect fans directly to the artists music, literature, or films.  To accomplish this may mean that you allow merchants to enter into a consignment deal instead of the standard retail purchase agreements.  The focus has to remain on the product and not solely on the interests of both parties to accomplish the sale of the artist product. 

The experience as General Manager at FHFE has benefited his role as Executive Worship Director at Oak Cliff Bible Fellowship here in Dallas, Texas.  His management of people and scheduling of all creative aspects of fellowship at the church has opened doors for additional deal making and negotiations of existing and potential future contracts.  Having these responsibilities also open the door for conflicts while doing business in a Christian environment. Dealings in this space can’t be harsh or filled with haggling because it can have rippling effects spiritually.  However, its still important to be prepared before negotiations and concentrating on the opportunities at stake and mitigating risk for both parties.