Vet's Mastery Journey

My “Mastery Journey” with Full Sail University has come to an end as I have mastered the Entertainment Business.  This is week 4 of Final Project: Business Plan and graduation is next week.  This past year has been a challenging, exciting, and fulfilling one; but it has helped me learn so much about my vision and career path.  Each course involved in the program was designed to help us focus on the key aspects of starting, funding, and running a successful business in our chosen industry.  

In the 1stcourse, Mastery… I set out the goals that I had for each course, as well as a few ways to reach those goals.  As the program went on I had to look back at my Mastery Journal to discuss whether or not those goals were achieved.  The next course was Executive Leadership.  This is where I compared the different leadership styles of Robert Greene (Author ofThe 48 Laws of Power, etc) and John C. Maxwell (Author of Developing the Leader Within) and realized that I can use elements of both styles, as it relates to the situation at hand.  Project Management was next in line and in this course I created a project plan; which included knowledge of the work breakdown structure and creating a project definition mind map.  My festival idea is still an idea that I plan to incorporate into my marketing strategy.

Brand Development and Storytelling was the course that showed me how to brand myself through the art of storytelling.  In this course, I figured out who my target audience was; how to differentiate my brand from my competitors; how to conduct market research; as well as which archetypes best fit my brand.  I also created my brand story video; which was an inspiration for my campaign strategy in a latter course.  Business Finance wasn’t as bad as I first imagined it would be.  I learned about the different costs associated with starting a business.  I was introduced to the Pro Forma Financial Statements –the balance sheet, the income statement, and the statement of cash flows; these statements itemized start-up costs, projected revenues, sales, etc. I also learned about the time value of money, opportunity costs, and the different types of investments available.

The Digital Marketingcourse is where I was able to develop an effective digital marketing plan.  I learned that the use of strong, precise keywords and phrases help consumers to find my brand more easily and quickly.  I also figured out which marketing channels would work best for whatever campaign or project my brand is working on.   I learned about the KPIs (Key Performance Indicators) and how analytics both play integral roles in my brand’s presence, both online and offline. The next course I was fortunate enough to partake in was the Negotiating and Deal Making course.  In this course, I learned about deal memos, ADRs (Alternative Dispute Resolution), and problem solving.  The key takeaway from this course was to research all parties involved in a negotiation, as this will set you up for a win/win outcome.  

There was a LOT of research involved in the Product and Artist Management course.  One assignment called for me to conduct research on an Artist Manager; My choice was Usher Raymond’s “momager” Jonetta Jones.  This course gave helped me to identify credible sites for industry news and introduced me to Nielson.com; which I will be using quite often to research industry statistics.  I conducted a cross-analysis between two major talent agencies: United Talent Agency and Creative Arts Agency; and concluded that the CAA would be a better fit for my brand.  I also learned about pricing strategies; revisited leadership styles; and learned how to find and keep my target audience.

I think that my most dreaded course was Advanced Entertainment Law. I thought that it would be a challenge; which it was, but also interesting.  I researched actual cases related to my industry; which I think is a great way to avoid similar legal situations.  I received instructions on properly filling out trademark, copyright, and similar forms. I was also introduced to a great resource: FindLaw.com.  I have to say that Entertainment Media Publishing and Distributionwas one of my favorite courses.  Professor Craft’s informative publication is such a valuable asset and I am thankful that she took time out to write it for her students. This course gave insight on how to acquire an agent and what type of agent is best for my needs.  I learned how to write a query letter, as well as what is needed for a digital press kit.  My major takeaway from this course is the learned tools needed to get my content published, marketed, and distributed.

Business Plan Development was one of the courses that took everything I learned in the program and bottled it up into a business plan. I was required to do a 1-minute pitch and we revisited the mission statement.  This is where I out most of the components of my business plan together: company description, competition, market size and trends, financials, and a few more.  As I write this last journal entry in my Master’s degree program, I am in week four of my last course - Final Project: Business Plan. This course helped me to fine tune my financial statements, tighten up my 1-minute pitch (aka elevator pitch), organize and present my business plan.  I was surprised that my completed business plan received such good feedback, because I was more than nervous submitting my assignments. But, (huge sigh) this is my final assignment and I have completed the goal that I set out to complete; I’ve attained a Master’s degree in a field that I love.  

My original goals for the Business Plan Development course was to: 1) have attained enough knowledge in the program to construct a well-devised business plan; 2) use feedback from my instructor/peers and implement their views, as if they were possible consumers of my brand; and 3) have an idea of how viable mu business could be.   The strategies that I’d planned to use to achieve these goals were paying attention and well organizing my resources, as well as asking questions.  This course was easy to follow and I feel like I met my goals and learned a lot more than I was setting out to learn.  

Week 1 was pretty much our introductory week, as we constructed our “one-minute pitches” and gave overall company descriptions.  We also revisited the “Mission Statement” for our brands; which made me think deep about what I want my company to be known for.  We also discussed the industry trends; detailing things like growth statistics, market opportunities, barriers to entry, and more. In Week 2, we went on to focus on our target market, which listed our market description, the market size and trends, as well as who our target customers are.   We also inserted our Competition and Marketing plans, along with a SWOT analysis for our company.

Week 3 was all about operations.  We studied the financials, location, key aspects of the operations, and ways to control costs.  The tech plan was also included; allowing us to focus on ways we could plan for implementation and utilize out website via website hosting.  Week 3 was also where we incorporated the management and organizational aspects of the company, to include: key positions (with descriptions), who is on the advisory committee, and a management structure flow chart.

We worked up financials, finding sales budget costs, employee rates, start-up costs, marketing and advertisement costs, and much more.  

This is the end of Week 3, in Entertainment Media Publishing and Distribution (EMPD) and I would have to say that this has been my favorite course, within the program.  I believe that the information that I learned, this month, is priceless. Prior to this course, I knew that submitting unsolicited material to major execs was not a “good look”, but I did not know how to go about acquiring the right person for the job.   Thanks to Professor Craft and her very informative publication, I have so many more ideas for all of my different types of creative content, as well as a working knowledge of how to get that content published, marketed, and distributed on a global scale.

Prior to taking this course, I was assigned to create 3 goals that I wanted to accomplish within the course.  Those goals were:

1.    Learn Strategies to protect and monetize my client’s creative content.

2.    Develop a publishing and distribution plan.

3.    Learn new ways to publish and distribute music and TV show.

I also chose 3 strategies/tactics for achieving these goals and they were:

1.    Read and take notes on all text and other resources provided to me, within the course.

2.    I added a digital distribution blog to my course reference page, for future study.

3.    Read and conduct research on an article from EBSCOHost Business Source Complete, titled Chicken Soup for the Soul Entertainment Hires Industry Veterans.

This month, I am in Advanced Business Law and I believe that I am fulfilling my goals that I had set out to do, in the beginning of my “mastery journey”.  The 3 goals that I had set were: 1) know how to draft up an entertainment contract; 2) learn how to protect mine/clients intellectual property; and 3) know how trends affect how contracts are structured.  Aside from setting the aforementioned goals, I also listed ways in which I planned to achieve those goals.  I planned to save 10 different entertainment contract examples to my “AEL” folder (on my desktop).  In doing so, I will have different references to refer back to, if needed.  I also thought it would be a good idea to create a “Mastery” playlist and add three videos that pertain to protecting intellectual property. I currently have seven videos in this playlist.  The last thing that I planned to do to achieve my goals for this course is to create a “Mastery” playlist in Lynda.com, and add two videos to ‘watch later’; which I have already done.  

Well, it’s week 4 of PAM and I feel so much closer to the finish line.  The goals that I had written prior to this course were that I would: 1) learn advanced management techniques, and 2) gain incite on how to manage my brand and products and/or services that my brand may offer. Without hesitation, I can say that this course made it easy (and hard-work) to achieve both of those goals. When I made those goals, I also listed a few tactics that I would use to help me reach those goals.  One tactic that I listed was: research common issues that arise when managing products and/or artists; and RESEARCH we did.  I’m actually typing this post, while doing research.  

In Week 1, we didn’t have to do much research.  We learned about leadership styles, via our discussion posts and “show business” via lectures.  I also conducted a case study on an Artist Manager, for which I chose Usher Raymond’s “momager”, Jonetta Patton.  This is mainly where the researching was utilized for the week.  In Week 2, our discussion post was used to get to know where we get our credible industry news.  This was important because with so many different media platforms covering so many different topics, we need to be able to sift through and figure out what’s real and what’s not.  Also in the second week of this course, we conducted a cross-analysis between two major talent agencies.  My cross comparison was between United Talent Agency and Creative Artists Agency.  If I had to choose one of those agencies to work for, or have them working on my behalf, I would choose CAA.  Again, major research was needed for these assignments.

Week 3 was where we used Nielson to evaluate what’s is going in in a specific area of the entertainment industry.  For this exercise, I used the gaming world becoming a lucrative platform for music artists.  As an artist who is interested in composing game music, I thought this was the perfect time to do a bit of research on the subject; Nielson is a great source to use.  The product planning project and lecture of week 3 prepared me for week 4.  This was where I introduced 3 products that I could sell (given the scenario of a comedy act playing at colleges, clubs, and other mid-sized venues); which were: a smiley faced book bag, a smiley faced tote bag, and a smiley faced phone case. I’m currently in week 4, and I can say that I expected a lot of work and this class lived up to my expectations and not necessarily in a bad way.  As I finish up this course, I’m more knowledgeable on pricing strategies, leadership styles, and how to find and keep my audience (amongst other things).  

Everything that I learned in this course can be applied to my real time goals and whether I chose to manage an artist or a product, I will be well equipped to do so.

The Mastery course (the first main course) required its alumni to write out three goals for each upcoming course required for the Entertainment Business program.  The goals that I had written prior to beginning the Negotiation and Deal Making course were:

Goal 1:  Acquire knowledge to grow my company through negotiation and deal making.

Goal 2:  Learn how to develop deal memos and contracts.

Goal 3:  Gain skills that will make me a strong negotiator and dealmaker.

Although we are only in week 3 of this course, I feel as though I have already completed each of the goals that I had originally set out to reach.  I have acquired and am currently still gathering knowledge on negotiating and deal making strategies that will help me to successfully grow my business.

Another goal that I sought to achieve was learning to develop deal memos and contracts.  We read from an e-book titled, Contracts for Your Business: A straightforward guide to contracts and legal agreements by Charles Boundy (2012).  While the book’s main focus is on contracts, chapter’s I and II spoke directly of how contracts are used and when to use a deal memo; which is also known as a rolling memo.  This week, we are learning about ADR (Alternate Dispute Resolution) and how it should be implicated in the early stages of a contract, as both preventative and productive measures.  In week 4, we will be learning some problem solving; which I think will be a good closing point for the course.

The last goal that I had in mind for achieving in the Negotiation and Deal Making course was to gain skills that will make me a strong negotiator and dealmaker.  As I stated before, I am still learning and acquiring skills that will aide in successful deals and negotiations being made on behalf of my company and myself.  However, I have learned that things like researching the whole situation and all other parties involved in the case is a great way to make yourself a stronger negotiator.  

I’m enjoying reading some of these case studies and participating in mock negotiation situations.  I’m stating my win-win affirmation, on all of my future deals/negotiations, right now!

Resource:

When I first began this Mastery journey, I wrote out a set of goals that I wanted to achieve in each course of my degree plan.

Goal 1: Be able to coordinate marketing initiatives online and offline.

Was it met?  Yes.  I learned different strategies to help me with marketing, online and offline.  Some concepts that I learned in Digital Marketing are:

·     Having strong, precise keywords and phrases help consumers find your brand.

·     Utilizing different marketing channels (digital and traditional) offers maximum coverage for consumers to view details for your brand.

·     Landing Pages are good for direct traffic to a certain page. Knowing your KPIs (Key Performance Indicators) can help you analyze whether or not something is working for your company and what may need to be done differently, for better results.

I will use these and other concepts to help grow my brand online and offline.

Goal 2: Learn and develop skills needed to manage my professional online presence.

Was it met?  Yes.  I already wanted to update all of my pages and websites, but I didn’t know what type of content I wanted to add to them.  Upon completing this course, I now have more insight on how to run my pages together to get the best results.  The campaign strategy was the best part of the class for me.  It got me to thinking of good ways to get my brand (and others’) noticed and gain more followers to my social media sites.  I will definitely be utilizing this campaign idea for the first year of my recording company’s existence.

Goal 3: Develop an effective digital marketing plan.

Was it met?  Yes.  Each week we put together a different of the plan.

Part 1: Business Overview, Competetive Analysis, Target Market, and Digital Properties and Keyword Strategies.

Part 2: Campaign Objectives, Marketing Channels, Content Strategy, and Mockups.

Part 3: Integrated Marketing Strategy, Campaign Budget, KPIs, and Analytics

I was nervous coming into this course.  My first thought was of how much math would be involved in this course.  To mu surprise, there wasn’t much math and the math that was present was not very hard to do.  I expected to learn the ins and outs of running a business, in the entertainment field.  I learned about all the different costs associated with starting a business, as well as how to plan ahead for the future.

In week 1 I learned how to read and understand financial reports and statements.  I did not know that the Balance Sheet, The Income Statement and The Statement of Cash Flowswere accessible to the public; which is good to know.  In week 2, we learned about the time value of money.  Here is where we got a better understanding of how investing either pays off now or in the future.  I learned the future value of a $1, the present value of $1, the future value of an annuity, and the present value of an annuity.  

Week 3 was all about breaking even and investing.  We learned about opportunity costs and I was able to list some opportunity costs that would occur while trying to get my business started.  As far as investing, I researched different types of investments and chose 3 that I thought would be best for me.  I chose: 1) CDs (Certificates of Deposit), 2) Peer to Peer sharing, and 3) Money Market Account.  

When I started this course, my main objective was to learn as much as I could about how to brand myself as an artist and/or an owner of an entertainment and production company. When I saw “storytelling” in the course title, I assumed that we will be telling a story about the product or service and I was right.  In my case, the product was myself, Miamore The Vet- the entertainer and the service that I would discuss is entertaining the masses.  But, I learned that having a target audience was much more rewarding than trying to please everyone.   I knew that my music would touch hip-hop lovers more than it would affect Rock and Roll fans, so I’m glad that this course pushed me to narrow down my target audience.  This is something that I will need to keep in my mind when I get into marketing my brand.

Revisiting our personal branding statement was good for me because it gave me a chance to really sit back and think about the who, what, when, where and why of my career.  I learned the importance of differentiating my brand from its main competitors; which also made me more aware of my special purpose in the entertainment industry.  I conducted market research on the business that I plan to build up and I have a greater understanding of what is needed to own an entertainment and production company.   I enjoyed learning about the different archetypes and I would say that both my business brand and my artist brand are a mixture of the Jester and Creator archetypes.

Branding and storytelling will help me to build; research, market and verbally/physically display my talent, product, and /or service to the right audience.  I have a better understanding of what it takes to get your story heard and your brand seen.  I am pleased with the Brand Story Video that I created, but I want to do another prior to releasing it to the public.  However, the link is below.

This course taught me a lot about formulating ideas, creating tasks and budgets, breaking down work structure, and much more.  I was nervous when I first started this course.  I thought that the idea of a project plan, especially creating one, would be very tedious and timely.  What I didn’t count on was having an instructor whose instructions were extremely helpful and clear.  I also didn’t know that creating a project plan would be so fun.  The fun part about it is the creation of ideas that i can really put to use at any time.  

Once I created my Work Breakdown Structure and Project Definition Mind Map, I already had a pretty good idea of what I wanted my project to look like.  I wanted to create a festival that honors children and their mid-year achievement in their academics.  The festival would include a comedy show from my very own comedy team “585 Viral” and would be set up in a festival setting.  I worked out the budget and it’s pretty steep so I will definitely have to start thinking of ways to fund such an event.  Worst-case scenario is that I will have to cut some of the entertainment, in order to maintain a doable budget.  

I believe that my personal leadership style is more similar to Maxwell’s style than it is to Greene’s style.  However, Greene’s is the style that I will need to be successful in the entertainment business.  In his book, Developing the Leader Within, Maxwell provides acquired skills he has learned (over 20 years of leadership) that will help its reader effectively lead a team. He uses principles such as: influence, creating positive change, vision, and self-discipline, and more.  The four principles that I chose to list are the ones that match my style of leadership.  

I will need to be able to influencemy crew to make things happen, as well as, reach the “Five Levels of Leadership” (Maxwell, 1993, pg. 5).  In a world surrounded by change, I want to be able to create changethat will positivelyimpact the world and the things around it. According to Maxwell, there are four visionlevels of people: people who never see it, people who see it but never act on it on their own, people who see it and pursue it, and the people who see it and pursuit it and help others to see it (Maxwell, 1993, pg. 141);  I consider myself to be the latter of those four levels.  Self-disciple, I learned in the military, but am still mastering it, throughout my online learning experience, as well.

Many people speak of the entertainment industry as a “cut throat” business, and Greene’s laws offer a more “cut throat” perspective on how to lead.  In his book, The 48 Laws of Power, Greene lays out 48 laws that he has found to live by, in order to be a successful leader. Five of the  laws that I know I will need, in the entertainment industry, are: 1) Law 2-Never put too much trust in friends, 2) Law 5- So much depends on reputation – Guard it with your life, 3) Law 9- Win through your actions, never through argument, 4) Law 11- Learn to keep people dependent on you, and 5) Law 19 – Know who you’re dealing with – Do not offend the wrong person.  The majority of the laws within this book are useful, but these five are at the top for me.  

During my time as a Sergeant in the Army, I have utilized a lot of these particular laws and principles.  Both Leadership styles are beneficial to anyone in a leadership position, but if I had to choose one over the other, I’d choose to lead from Greene’s standpoint.  

References: 

Greene, R. (10014). The 48 Laws of Power. New York, NY: Penguin Group. Retrieved May 20, 2018, from https://bookshelf.vitalsource.com/books/9781101042458.

Robert Louis Stevenson

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