Negotiation and Deal Making the Road to Mastery

The Keys to Negotiation:

If business is your plan, you must plan before you negotiate a deal. At this time on the path to mastery in Entertainment Business I have discovered the four golden keys to unlock a successful negotiation. These four keys are the guiding light on the path to mastery in negotiation. The first key is to unlock the method for proper preparation as presented by Roger Fisher and William Ury in their book “Getting to Yes”. This book suggest that it is necessary for the negotiator to separate the people from the problem, focus on interest, look for mutual gain and use objective criteria. The second key is described as knowing your best alternative to a negotiated agreement better known as (BATNA). You must know your BATNA and the other negotiator’s BANTA in order to stay one step ahead. I found it easier to maintain my focus during a negotiation with this information actively in my mental tool box.

The third key that I discovered is known as: the five core concerns, appreciation, affiliation, autonomy, status and role. When these concerns are kept in the mind, I found that it is easier to keep control over the negation process. Roger Fisher and Daniel Shapiro in the best-selling book,” beyond reason” described this process with great detail and mastery. The process of negotiating is a powerful mind conditioning exercise which requires preparation.

The fourth key known as Game Theory is a powerful tool which uses mathematics and computer modeling to obtain a prediction on how a person or group will react under certain conditions. The data which is used as variables in the model is compiled from the five core concerns of the negotiation process and mixed with the interest, options and objective criteria to formulate an accurate prediction. Applying Game Theory to the negotiation process will help me to become a winning principle negotiator.

I must conclude that the Negotiation and Deal Making course featured in the EBMS program at Full Sail University has proven its worth by providing an extremely useful tools for mastering the negotiation process. I recommend this program of study for anyone in business or anyone interested in becoming a successful negotiator. Success is guaranteed if mastery is obtained.

Product and Artist Management Mastery

As time moves forward I must express my progress on the path to Mastery using Entertainment Business terminology.

This month I have burned midnight oil to acquire the knowledge necessary to properly manage the artist with a focus on Legal, Financial and Interpersonal skills which must be developed in the artist personality. Next the importance of managing the product which cannot be separated from artist becomes the pivotal point in the process of management and the highlight of the months lesson.

I have learned that the artist must understand the Legal requirements which surround the brand and copyright ownership. The artist talent is not enough he or she must have a variety of experiences which are applied to the production of the product. The artist must understand the agreement between band members before getting involved with the Artist Management Agreement. The uniqueness of the presentation must distinguish the artist from the completion. The artist must be aware of the taxation and financial matters which will determine the future of the income earned over time.

I studied Steve Jobs and looked at product management from the position of APPLE. This great product manager left guidelines for developing a product to perfection. At this time I understand and can apply the knowledge behind the skills which Steve Jobs used to polish the APPLE BRAND. These skills involved Driving Business Results, Delivering Results through People, Ensuring Market_ Driven Direction and Guiding product “Fit” and Function just to name a few.

This month’s Mastery Principles are another valuable Marble stone placed on the path to success provided by Product and Artist Management at Full Sail University.


 

Another Intense Session

                       As another intense session is coming to a close it is time to share a reflection on Entertainment Business Finance.  This course is the basis of my new understanding of how to develop and use finance to keep my business out of the red. The Mastery of Entertainment Business Finance is a process which will take time to secure. However, this foundation is the best place to start on the road to success.

                     The Entertainment Business Finance course has exposed the reality that there are investors who are looking to take a gamble on a new idea that has a good plan. These investors surf the web for projects that have been launched through non- traditional means known as Crowd Funding. Crowd funding is a prime example of creating success by including the community on the web to participate as executive producers. Of course titles are not necessary just a promise to complete the project and provide a sample of the finished project in return.

                    What is a business without a balance sheet? How do you manage your personal finances without a balance sheet? The idea is that the balance sheet is necessary to keep track of finances. Before taking this course my knowledge of the balance sheet was limited to credit and debit learned in undergrad accounting training. I did not apply balance sheets to my personal finances. Entertainment Business Finance has shown me that the balance sheet methods must be applied to the business finances as well as the personal finances. By using a balance sheet the decision making process for what direction to take with finances is clear and laid out on a spread sheet with projections out to three years. A review of the cost of money was also included in the course which was very helpful in understanding interest rates.

                   There were many case studies, interviews and videos to help drive the point home that Entertainment Business Finance is the foundation of business success. A great brand must have a strong financial plan in order to reach the target market and turn mega profits. This is another step down the yellow brick road to Mastery in Entertainment Business.

The Mastery of Business Storytelling and Brand Development

This post is a review of my accomplishments in Business Storytelling and Brand Development. The course presented tools and topics which have been added to my growing arsenal of Entertainment Business skills. I discovered the correct path way to creating a strong presence for my company. It is now possible for me to re-evaluate my business position in the entertainment consumer market. Thus, I will create a positive business presents.

Storytelling is an activity that I enjoy. However, it did not come together as a business tool until I learned the principles of Business Storytelling outlined in this course. I am now armed with a skill that will allow my Brand to be properly presented with a compelling story line. I used marketing research techniques to explore successful brands. My discoveries included uncovering the art of branding through reviewing the history of certain business leaders. The application of business storytelling presented in this course will prove to be a value to my brand development.

It is clear that the customer must experience the brand in order to place a value on the product offered. The brand identity is part of the customer’s unique experience.  My business leadership skills have been enhanced by business storytelling and brand development. My identity is the story behind the brand and my brand is what the consumer will experience and evaluate.

I now understand treads in the market place applied to brand marketing. Keeping updated with current trends in entertainment will allow my company to adopt when change is necessary. The market is competitive in entertainment but, when armed with the skills of brand development, repositioning in the market place will be easier to handle.

Finally, my learning experience with Business Storytelling and Brand Development has created a feeling of confidence in my skills. The information acquired is in line with my educational goals. My journey on the path must continue. I am looking forward to greater business adventures while on the path to success.

Project and Team Management Mastery

This post is a review of what has been accomplished over the past month in project and team management. The course presented topics and materials that were cutting edge for modern business. I discovered the responsibilities of the project manager. It is now possible to understand the project life cycle. I can now evaluate the key constraints of the project before it is launched.  The steps involved with the project management process are clear in my mind. This course has exceeded my expectations.The project manager faces many challenges that I can understand and prepare for.

Team development is a major step in project management. The stages are complicated and require research and attention to details in order to develop an effective team. The characteristics of the project’s team members are important to the performance of the team.

 Conflict can be managed to insure the progress and timely completion of a project. I can now approach conflict resolution with a tool known as a conflict resolution policy. It is possible to create a project team On-Line, the same rules apply as in face to face meetings. The communications techniques that I have learned are relevant assets for a project team manager.

Blogging was also effectively discussed I now have a better business approach to using my blog as a marketing tool. Using animations to advertise a business idea and exploring creative financing to secure a budget are powerful business methods for success. All of the materials and lessons in the PTM course are real life solutions which I have started to apply.

 The PTM course is in perfect sequence with the previous courses. I have added to my advantage towards putting my business plan into action. I can substantiate my business plan and meet the needs of today’s business environment. Applying these rules and standards will surely lead to success in Entertainment Business Management.

ED Mac Audio A&R Exec,hanging out with DJ Master Dave,Snap Gang and RJ Event Director, Live from Full Sail University. It was Great to meet with Rj’s company and set some Artists up for A&R. This event happens every two week in Wendy’s parking lot  open to all Artist.