TF Management and CDFIs

Community development financial institutions, or CDFIs, are meant to help grow communities whilst helping to grow businesses. Though I don’t recall learning much about this over my time in the Entertainment Business Masters program, I definitely find it very interesting now that it has come up as a focus. CDFIs would completely change the game for TF Management. I would have initially started the business off on my own, but if CDFIs are there to help create jobs, then funding in order to create jobs would be what we would do. It would be very useful to have extra eyes and ears to manage campaigns, and even more useful to bring jobs to West Michigan. There are many schools in the area, and Grand Valley has a great Communications program that may feed some great employees.

            The Opportunity Finance Network brings together companies and opportunity funding options at the click of a button, aiding in making the search for funding a little bit easier. The CDFI Coalition seemingly does the same, both being great key options for low-income or companies that are least likely to be invested in, but very likely to aid the community. The CDFI Coalition has financial assistance grants, technical assistance grants,            Native American Initiative opportunities, Bank Enterprise opportunities and New Market Tax Credit programs. The Opportunity Finance Network is a Bond program, allowing credit lines. Applications are required to go through the program.

            I’m very interested in this new-to-me option of funding, and I’m sure TF Management could definitely benefit from it. Grand Rapids alone has a lot of talent, and though there are opportunities for funding, this particular market is underrepresented, causing bigger issues with attempts to receive funding. It may seem as though the services that we provide are not needed, however, with the growing amount of talent in Grand Rapids and West Michigan, we are very necessary.

Pitch Expertise

            There are many different opinions when it comes to business plans and models. Experts may have differing views, which can sway those that study them one way or another, but it is important to research and figure out one’s own views.

            Steve Blank, an entrepreneur with multiple startup companies under his belt, as well as many years of working in the technology field, is no stranger to business. He has relationships with companies such as Pixar, and has been the chosen speaker as well as a professor for different colleges (Blank). Blank believes that people should focus more on business models than business plans, because business plans focus on the consumer rather than the market (Burhoe, 2012). I can’t say I disagree with Blank, and he definitely has created a new idea in my mind. I am a research person; I do need to understand why something would be done. I think it is best to know your audience well, because knowing your audience could possibly open up a new market, and if not, it could only give you more knowledge about your market.

            Andrea Cockerton is an expert listed from the UK that seems to have some great advice, also. She was also the owner of Brick Handbag, which I haven’t been able to locate as of yet. She also founded Mudhut Communications and is a pitch expert, according to thebusinesshub (Cockerton). One important key that Cockerton stated was that it is best to get to investors earlier, when there is more money to invest. It becomes harder to obtain an investment when funds are drying up. She states that investors are looking for reasons as to why your company is needed in it’s industry, and how it will be revolutionary in it’s own way. I find this information to be very important, especially the piece that timing is everything. I understand both things are key, and they both seemed very obvious, but it was important for it to be reiterated. I’ll definitely utilize everything that Cockerton stated during her interview, as one wouldn’t think that investment money ran out within a certain period of time as sponsorship money does. I’ve never looked at the two as the same, but it is obvious that they relate.

Resources:

Blank, S. (n.d.). About Steve. Retrieved April 10, 2016, from https://steveblank.com/about/

Burhoe, S. (2012, April 9). Steve Blank and Carlos Slim Business Models [Web log post]. Retrieved April  10, 2016, from http://bpexpertviews.blogspot.com/2012/08/steve-blank-business-models.html

Cockerton, A. (n.d.). Andrea Cockerton. Retrieved April 10, 2016, from        http://www.thebusinesshub.info/guests/andrea-cockerton/

Michigan, with Two Big Ten Teams, Finally has Two Sports Management Programs

            Michigan, one of very few states with multiple teams in the Big Ten, only had one accredited Sports Management program throughout the entire state. That program belonged to Davenport University, a school that is neither in the Big Ten nor NCAA. Now, Central Michigan holds the second accredited program, only growing the ability for Michigan residents to stay in Michigan and follow their dreams.

            This looks to be a great opportunity in itself, as there are many die-hard Michigan and Michigan State fans. Neither of the two schools have accredited sports management programs, but Central Michigan having one, and Davenport having thee other, poses the option for Michiganders to follow their dreams, and possibly even gain clientele from their favorite Michigan team without having to leave the state for their degree.

            Working with Central Michigan, it appears that opportunities have opened up in the NFL, the MLB, the WNBA and NASCAR. Internships have been served, and students have moved on into their respectable careers. It is great to see something happening like this at home in Michigan, where things can get pretty crazy. I personally am in Michigan and didn’t know the options were there, and will possibly continue to pursue more education after finishing up my Entertainment Business degree at Full Sail. It is great to hear things like this happening in my state, as I’m not used to seeing news, or to programs of the sort being near me. There are so many sports teams and possible opportunities here that may go by the wayside, solely because people don’t have the training, and I’m not sure how many people want to come to Michigan, where the weather can fluctuate between any given hour. Knowing that things like this are happening might just make me want to stay. (Probably not because I don’t like the cold, but hey, just my opinion.)

http://www.cm-life.com/article/2016/02/cmu-sports-management-program-one-of-two-in-michigan-accredited

Love, Piece, and Karaoke

            Publishing and copyright are major portions of the music business, and Sony and BMI are taking a stand on copyright infringement right now for those reasons. Wicker Park pizzeria, Piece, is being sued for copyright infringement while a karaoke band has played a few of their songs to allow those that choose them to sing them while enjoying their time at the venue. Sony has gotten word of this and feel that a lawsuit is the best way to handle this. I understand that publishing rights and copyright law are very important, however, I don’t feel that it needs to be taken this far. The bar could either pay Sony a small amount of their karaoke profit, or they can cease to play the songs, however, it seems as though this would have to happen in all karaoke bars across the world.

            I’ve been into karaoke bars and wouldn’t assume that they have any copyright licensing to play certain songs, however, they do. I imagine that some of those songs were from Sony or BMI. Do they go out and seek every bar that plays their songs for the entertainment of their patrons while performing karaoke? Do they only file suit against those that their workers go into and come back advising them that its happening? Why focus on one bar instead of many?

            I feel that Sony is making an example out of this pizzeria; however, I also feel that, though they are making an example of them, they can also lighten up. Word will get around to other karaoke bars and maybe this will lessen, or businesses will be more prone to purchase licenses. Sony and BMI have a point, but from what I’m reading from the Chicago Sun-Times, the bar has not changed up and has continued to play the songs, with which I see their point, also. They aren’t profiting off of these songs in particular, but the idea of karaoke night, so it seems as though this is a game of tug-o-war in which Sony is being somewhat a bully, but both should reconsider what they are doing. 

Streaming, Statutes, and Spotify

Spotify is definitely under fire because of copyright infringement right now. What a way to start off 2016, right? David Lowery and others are suing Spotify for not being paid while their work is streaming. Spotify has opened up to state that they bank the money for the royalties for the music until they figure out who the artist is, which is still copyright infringement, apparently. The lawsuit is for up to $150 million, and is to represent other artists as well. This is not the first time that Spotify has been under fire for the same sort of thing, but a change was not made.

Spotify is one of the top streaming services today. Though I’m not a huge fan of it and only utilize it when I’m on my PlayStation, I feel for them. One would think that they’d have more precautionary steps set into place and they’d have someone look for the artist prior to streaming their music. In my honest opinion, after reading a few articles, it seems as though they didn’t really care and weren’t necessarily seeking out these artists whose music they had been streaming.

This situation has opened up my eyes to the industry a little bit more. Of course there will be legal issues, but if a company as large as Spotify can get away with this for periods of time, there is a lot to look out for. It almost puts the idea in my head that there will need to be searches for our artists’ music across the internet to make sure it isn’t being used without our permission. I wish Spotify luck, as they have been successful, however, I hope they get it together, as it would be nice to be able to stream our music on the site in the future.

http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-spotify-songwriter-lawsuits-20160108-story.html

http://money.cnn.com/2015/12/29/media/spotify-class-action-lawsuit/

http://www.billboard.com/articles/business/6836005/spotify-150-million-lawsuit-explained

http://www.bloomberg.com/news/articles/2016-01-07/spotify-isn-t-laughing-off-this-lawsuit