The Future of Technology

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Where will technology be in 10, 20 or 30 years from now?  Will we still be carrying cell phones, Smart Devices, laptops, netbooks, I Pads or other devices?  Will concept watch be the new device where we can stay in touch with people via technology and not in person? (Itechfuture.com 2012)  Or will technology bring us back to the foundation of communicating with people face to face and learning to appreciate the simple things in life?  More and more people are glued to cell phones that they negate the simple communication method of talking and listening.  More people are talking at a rapid pace, like they are texting and are just looking to accomplish the next sale, referral or business deal.

I believe technology is a great tool to create a better process to automate certain process but not replace the human touch and element.  For instance when calling a company for service or technical questions I would like to speak to a live person who is not rushing me off of the phone.  Great customer service cannot be replaced with technology but should be enhanced.  People still like to speak with people when needing questions answered instead of being asked to email your concerns and wait for a response. 

When companies are seeking to sell you something they will use the human element to convince you that this is the product you need. When it comes to service it all becomes automated and a barrier just to speak to the company you just invested in.  I believe it is our responsibility as Graduates within the Entertainment industry to bring back the human approach within our business model and embrace technology as a tool and not the answer to all of our problems.  Remember as we mature within this industry we will become part of a generation of people who seek human communication and not be dependent on a text, tweet, and email or friend request on Facebook.  Build your vision, create your business but let technology allow you to lose the very people you are trying to reach which are you customer.  The customer always likes to heard and understood and they will remain loyal as we meet their needs.  Use technologies to fulfill your mission not replace your mission.

Reference:

Itechfuture.com 2012 Concept Watch of the Future retrieved on April 24, 2012 from          http://itechfuture.com/page/3/

Are we prepared for the future of Technology?

It seems as if media and social media content are the driving force for new technology.  It amazes me at the progression of technology with Smart Phones, PDA’s, Net Books, Nook, IPAD, Kindle Fire and more.  The driving forces with all of these devices are media content whether it is Netflix.com, Hulu.com or social media such as Facebook and more. Recently I was looking at a Nook, which I purchased and I asked myself, what was the deciding factor for making this purchase?  It was simply social media, digital books that finally won my attention and productivity. 

Simply put, was I able to use this device like I was on my Mac Book Pro? I use the Mac as my main computer at home and I needed a handy device where I can surf the web, check emails, conduct presentations and more.  I thought I could do this on the Nook until it crashed eight days later while viewing the GQ magazine.  So I traded the Nook in for the new IPAD 3 and the cycle started over again.  I must say I am totally satisfied with my device but I still question myself and say what made me purchase this device?  The answer was I wanted something lighter and easier to handle where I can continue to connect and thrive within this digital age. 

What I began to realize is that the devices that are coming out are just a derivative of the whole.  We started with desktop computers, which transitioned to laptops, net books, PDA’s, and the list goes on.  But all of the devices pretty much do the same thing, which is check emails, watch TV, listen to music, share files, connect on Facebook and much more.  The real questions should be where are we going with the reproduction of the Internet and social media in another size device?  How much smarter can our phones be?  Do we need an EBook reader or can the IPAD or laptop be enough?  Will we be happy with the phone just ringing or do we need to watch TV, answer an email, and check Facebook before we can take another breath?

Now I love technology as the next one but I must stop and ask myself, am I within a Technology Matrix?  Can I get out or do I need to slow down and let technology serve my life and goals?  If I do not ask myself these questions I will be impressed with the next device, which is different in size but does the same things as the other devices that I already own.  Only time will tell or the next device will determine if we start the cycle all over again.  Can’t wait for the next version of the IPAD!

Business Plan Tips Part 2

These past several weeks has been interesting since my mind has shifted from what I thought a business plan was to what a business plan really is.  I thought a business plan was just an explanation of your initial idea and people would be happy to come along.  Now I understand that a business plan is more than that which encompasses a projection of sales and revenues, expenses, an overview of your board and much more. 

I believe the most important part of a business plan is the business itself, which will allow an investor to determine if they would be interested or not.  The second most important part is the financial part of the business plan, which allows them to see income statement, projected cash flows and the balance sheets. The business plan should show good profit potential in a short period of time as stated by Tim Berry. (Articles.bplans.com 2012)  This allows an investor to see several things, first if you understand your business enough to see how you will earn money and take care of expenses.  Second it allows an investor to determine if you have projected enough sales to cover expenses, pay yourself and the investor back.  The investor is interested in how long it will take to get back their initial investment along with the return on investment.

Another important aspect of a business plan is the structure and how you will run your business. Will it be a C or S Corporation, Sole Proprietor or Partnership to name a few?  These business structures allows an investor to determine if you have carefully planned and allocated risks when it comes to the type of organization.  If you plan on being a sole proprietor then you assume all risk and debts of the company and an investor might not be interested in investing money into a solo entity.

The specific changes that I made with my plan in particular is to find a way to increase sales to create a greater rate of return for investors.  The business plan allows me to see on paper what areas that will be a potential concern and needs adjusting.  From reading what Mark Cuban states I believe if you are not passionate about your business then it will never work. (Entreprenuer.com 2012)    The investor before reading the business plan reads you and determines how passionate you are about your plan.

The most important section of my plan that would interest the investor would be my sales projections and how I plan to make money.  This area needs to be defined more clearly so they can how soon the company would be profitable and when they can potentially receive a return on their investment.  Another great tip that I can take away is that you should always prepare several business plans, this allows you to make modifications and adjustments along the way since it is a document in the works. (Smallbusiness.foxbusiness.com 2012)

Reference:

Articles.bplans.com 2012 Funding Tips for Small Business retrieved on March 25,    2012 from http://articles.bplans.com/financing-a-business/funding-tips-for-  small-business/133

Entreprenuer.com 2012 Mark Cuban’s 12 Rules for Startups retrieved on March 4,             2012 from http://www.entrepreneur.com/article/222524

Smallbusiness.foxbusiness.com 2012 Top 10 Business Plan Tips for raising money   retrieved on March 25, 2012 from http://smallbusiness.foxbusiness.com

Business Plan Tips

           Developing a business plan is important if you want investors to read it and take your potential offer very serious.  But when it comes to a business plan what do investors look for?  What makes a great and interesting business plan that will pique the interest of investors and allow them to write a check and fund your idea?

            While reviewing successful businesses we decided to review what were some points entrepreneurs should focus on when presenting ideas to investors.  Steve Ellis, who is the founder of Chipotle states that one of the most important aspect of a business plan is the name.   Steve began his dream with a loan from his father for $85,000 and is currently the co-CEO and Chairman of the Board in 2005. (Bpexpertviews.blogspot.com 2012)  I am one that agrees that if a name does not match the idea or theme of the business then it will leave the customers or patrons wondering who you are.  If the potential customer wonders who you are then they will take their resources elsewhere where they know what to expect.  

            A name can project a grand idea or it can come across as a small mom and popshop, well it depends on what you are looking for.  Ellis states that it must portray who the owner is and the concept the owner is trying to portray. (Bpexpertviews.blogspot.com 2012)  Ellis also states that “ a logo must be simple and to the point for it to be appealing”. (Bpexpertviews.blogspot.com 2012) Also the slogan must be catchy and unique and take the consumer on a journey and be well rounded with the concept.  (Bpexperts.blogspot.com 2012)  I believe what Steve Ellis is telling us to do is to Keep it simple and clear when it deals with the concepts of your business plan so the consumer can understand your vision and idea.

            Billionaire and Investor Mark Cuban states that for a business to succeed you must know your core competencies and focus on being great at them.  He also states that you should “never start a company unless it’s an obsession and something that you love”. (Entreprenuer.com 2012)  I totally agree that if you are not passionate about your dream and vision then when turmoil’s and trouble comes then you will seek a way out.  Successful business owners all have one thing in common; they over come adversities and find a way to win.

            I believe the most important task of a business plan is to create a vision and outline and a coherent set of values for your company. (Allbusiness.com 2011)  I believe that you can have the best or better idea than your competition but if your plan dies not create a vision for the future or a vision period then it will not last through the test of time to be and remain successful such as McDonalds, Dell Computers, Apple, Microsoft and others just to name a few.   As we walk away with these tips I hope they will assist you in penning your dreams and making your business a reality for all to enjoy.

References:

Allbusiness.com 2011 Top 10 tips for writing a business plan retrieved on March 4,             2012 from http://www.allbusiness.com/writing-small-business-         plan/16689921-2.html

Bpexpertviews.blofspot.com 2012 Bobby Flays and Steve Ellis retrieved on March 4,            2012 from http://bpexpertviews.blogspot.com/

Entreprenuer.com 2012 Mark Cuban’s 12 Rules for Startups retrieved on March 4,             2012 from http://www.entrepreneur.com/article/222524

Artisitc and Social Responsibilty

As we mourn the death of Whitney Houston, who was and will remain one of music’s greatest talents to grace the microphone we must learn the lessons behind every story.  I believe we were about to witness an artist who was making a comeback and take back control of her life.  We know that she has just finished taping the remake of “Sparkle” which is to be released in August was quoted as a comeback for Whitney Houston. (Argusleader.com)

Whitney was a pioneer in the height of her career who broke barriers and encouraged other stars to follow their dreams.  Now we begin to see new breed of artists and executives who are beginning to be artistically and socially responsible such as John Legend, Tyler Perry, Oprah Winfrey and more.  Being in the limelight now comes with a responsibility to empower and enlighten the masses with your gifts and talents as well as helping those less fortunate.  In order for music to evolve in the next phase there must be social and artistic responsibility, which is the same that we expect out of leaders whether in business or politics.

The spotlight is not about just increasing sales but more importantly increasing your message and mission.  I believe Whitney came to the realization that her presence and influence demanded a responsibility and many near her stated that she was on a comeback trail.  On set many stated that she was on time, ultra professional and knew her lines. (Thedailybest.com 2012)  I believe that the new artist will understand the responsibility of their audience not just in the sense of marketing and sales but the social and artistic responsibility to their audience and fans. 

If an artist understands their true mission and fulfills that through the realm of music then an artist will understand that in order to fulfill the mission they must remain focused.  If the mission is simply just selling more music then the artist will always chase sales.  But if their mission is a larger cause then their mission and work to fulfill their part to empowering and bettering our society will guide them.

 

Reference:

Argusleader.com 2012 Houston’s ‘Sparkle’ movie sticking to August Release retrieved on February 19, 2012 from http://www.argusleader.com/article/20120216/ENT/302160008/Houstons-Sparkle-movie-sticking-August-release

Thedailybeast.com 2012 The Saga of Whitney Houston’s Last Movie ‘Sparkle’ retrieved on February 19, 2012 from http://www.thedailybeast.com/articles/2012/02/13/the-saga-of-whitney-houston-s-last-movie-sparkle.html

Reviving your Online Presence

Earlier in my career I was not a fan of online marketing since I though naively that it was not important.  I was stuck in the methodology of print advertising with magazines and flyers since cell phones had not dominated the market.  I conducted my business earlier seeking magazines to place ads in that would garner viewership and potential clients.  As I evolved I learned the power of a website, online advertising and marketing but did not see the big picture of an actively managed website.  In the graph below you can see the Internet as an important source in the early 2000's compared to books, television and radio. (e-vangelie.blogspot.com 2012)

When websites such as MySpace, Facebook and other online sites came to play I totally ignored the emergence of social networking and marketing.  I thought who would want to put their business for everyone to know and update their stats so people can keep in touch and failed to see the diamond in the rough.  The key was that “people would see” should have been the trigger that captivated my mind to understand the new consumer and customer. 

I am not one to broadcast my personal business online but I now see what young tech execs were seeing which was the gold coast of the information highway to reaching new customers.  Businesses began allocating more and more resources to cultivate this new arena and more consumers created the demand for online advertising and an effective online presence. 

I understand now that having a website posted in cyberspace will not get the attention of anyone if you are not actively managing and doing due diligence to ensure your site is getting the traffic and reaching your potential customers.  I am now learning the importance of SEO or Search Engine Optimization.  This is important since it improves the visibility of your website within the free, organic, editorial or natural listing on search engines. (Searchengineland.com 2012)  I also learned the importance of keywords so people can find your site over the competition.  This is really a long way from just getting your website on the web to now taking time and care to understanding your audience and ensuring you are reaching them.  If this is the beginning of the Internet what will the future unveil, only time will tell?

Reference:

E-vangelie.blogspot.com 2012 Good news in digital age retrieved on February 5, 2012 from http://e-vangelie.blogspot.com/2005/06/internet-users-importance-of.html

Searchengineland.com 2012 What is SEO/Search Engine Optimization? Retrieved on           February 5, 2012 from http://searchengineland.com/guide/what-is-seo