Self-Financing Projects

The million dollar question, “When to self-finance projects?”

Economic times have made it hard to get films made without an A-list Actor attached to the project. It is even harder to get a project made when there are more minorities in the main cast.  Tyler Perry is a spoken advocate of this trend that is happening in Hollywood. Tyler Perry is know for his multi-talented skills and has made a name for himself self-financing his own work. More recently George Lucas has been affected by this Hollywood stereotype and had to self-finance the movie "Red Tails" as he could not find a major studio to back his film. George Lucas put up $100 million dollars for this film with his own money. It is shocking to hear that Mr. Star Wars can’t get funding for a film having a large black cast. It just goes to show that some places in the world have not changed their view on who will go to watch these type of movies.  

On the other hand, Mel Gibson had the same problem with the movie “Passion of the Christ.”  He decided to finance the movie himself at $30 million and the movie generated more than $370 million dollars in domestic sales. Even though Mel Gibson’s movie was a different type of genre it still did not fit the traditional Hollywood mold of a big blockbuster action packed movie, therefore no major studio would fund it. It is hard to imagine these three big producers not getting backed by studios, but they did not. All three of them used their own money and took a risk on projects they believed in and they wanted people to watch. Luckily they all paid off and even if they didn’t they took the risk to make something they valued.

The lesson from this blog is if you’re passionate about something and your not being supported, just do it yourself. Your passion will show through your work and people will want to support you because you took that risk.

Sources

Blauvelt, Christian. (2012, January 23). ‘Red Tails’: Will George Lucas’ $100 million gamble pay off? Entertainment Weekly. Retrieved from

http://insidemovies.ew.com/2012/01/23/red-tails-george-lucas-100-million-dollar-gamble/

Perry, Tyler. (2012) The problem with al-star African American Casts. Tyler Perry. Retrieved from http://www.tylerperry.com/messages/problem-all-star-african-american-casts/

Rich, Frank. (2010, July 17). The Good News About Mel Gibson. The New York Times. Retrieved from http://www.nytimes.com/2010/07/18/opinion/18rich.html

Alternative Funding Websites

In finding investors to finance small businesses, it is wise to research many different opportunities that would allow you to find the right financier for your business.  I have researched two websites that offer alternative funding for small businesses. The two alternative financing businesses I researched are Opportunity Finance Network and First Nations Development Institute.

Opportunity Finance Network (OFN) lends to low-income individuals, low wealth and other disadvantages communities to encourage them to join in the growth of the economy. OFN focuses on communities first and is not maximizing on profit, but is profitable. OFN finances community business to help spark job growth and development in poorer areas. OFN looks to finance high volume businesses, bring new resources to community development finance institutions (CDFI) in both public and private sectors, sharing knowledge on research and training, consulting on organizations to increase performance and growth, creating a broad support group of CDFI for communication purposes. The OFN website offers a variety of information about the company from their strategies and reports to current news updates. OFN is dedicated to create more jobs for people in the USA (Opportunity Finance Network, 2011).

First Nations Development Institute (FNDI) gives grants to Native Americans and others who will give back to the Native American community. The key areas for grants are on financial and investor education, combating predatory lending, Native American business and asset development, strengthening Native American nonprofits and native foods and health. The website is filled with information on how you can make a difference in the Native Americans lives and the benefits from these programs that this organization offers.  FNDI provides resources to learn more about the Native American Community and provide donations directly to different aspects of this community (FNDI, 2011).

The advantages of using alternative financing are that it offers a strict criteria for certain projects that fit the mission of the financing company. Alternative financing helps you connect to certain financiers who want to finance your projects to help certain communities. The disadvantages is that you may not have as much control as you would like since the financing is coming from certain organizations that have strict criteria to follow in regards to their company mission.  Another disadvantage is you need to give back to that certain group and there is not much room to expand to outside groups that don’t fit a certain mold.

Alternative financing offers another perspective from the traditional mold of financing and it is great for small business to research both opportunities for there may be a financier looking for them.

Sources

Opportunity Finance Network. (2011). Retrieved from http://www.opportunityfinance.net/

FNDI. (2011). Retrieved from http://www.firstnations.org/program-financialandinvestor

Learning from the Experts

My recent blog focused on Oprah Winfrey and Robert Kiyosaki and what they looked for in business plans and their key business strategies. Both of these individuals are two people I admire in the entertainment industry and the real estate industry. From researching them in my previous blog, I learned what to take away and put in to my business plan. Even though I am writing a children’s book series, I plan to incorporate their savvy business skills into my plan to help find investors for my product. It is by having a good vision of my product and a detailed financial report in my business plan that will help in attracting the right investor to invest in the children’s book series. These are two key points that Oprah Winfrey and Robert Kiyosaki pointed out in their business plans and is something that I am incorporating in my plan.

As an investor, Tim Berry’s article from Palo Alto Software sums up what makes a good business plan and the steps needed to determine the action of the plan. His article places an emphasis on what is needed in a business plan. His attitude about writing a business plan is to be realistic, be specific, be clear, communicate, commit and keep it alive. Tim’s attitude on how business plans should be executed is similar to Oprah and Robert’s ideas.

In my opinion, the most important section of a business plan for an investor to look at is the return on investment. The investor has to love the idea in order to invest their money into the business. However, when investing money into the business it is essential to see what the rate of return is on the investment so, the investor has future projections of what they will get back from this investment.  

Sources

Gomstyn, A. (2010. March 5). Suze Orman vs. ‘Rich Dad, Poor Dad’ Guru: He Tweeted, She Tweeted. ABC News. Retrieved from

http://abcnews.go.com/Business/suze-orman-robert-kiyosaki-twitter-dispute-financial-advice/story?id=10001293&page=2#.TuivxJjAefQ

Palo Alto Software. (2009, February 18). 8 Factors that Make a Good Business Plan. Tim Berry. Retrieved from http://timberry.bplans.com/2009/02/some-key-questions-on-business-plans.html

Strategic Business Team. ( 2010. April, 7). Oprah Winfrey: The Most Famous, Richest Black woman in the world. How to Start a Small Business. Retrieved from

http://www.strategicbusinessteam.com/successful-entrepreneurs/oprah-winfrey-the-most-famous-richest-black-woman-in-the-world/

Business Plan Experts

Oprah Winfrey is an accomplished television host who has had “The Oprah Winfrey Show” be on television for more than twenty-five years. She has expanded her brand into a new cable network, “OWN,” and is learning the art of how to effectively run the network (2011, Sohn).

Robert Kiyosaki is a real estate investor who helps educate people through his conferences and books on how to properly invest in real estate. He has grown up learning different financial strategies from two different types of father figures. He has inspired many people to take control of their finances so, they can achieve financial freedom and be apart of the American Dream (2011, The Rich Dad Operating Company Inc.).

Both Oprah Winfrey and Robert Kiyosaki are self made millions and have huge followings because they are people who had a dream for themselves and achieved it along with long-term success.

Both are recognized in their fields as “Top Experts” because of their successful long-term performance in their careers and what they have accomplished both professionally and personally.

When evaluating business plans, both investors look at key components as the deal breakers for business plans. Oprah Winfrey looks at business plans that that have a clear vision of what you want to help you stay on track. In various articles on Oprah.com a reader can see that the basis for all business plans is having a well-executed plan in order for that vision to be achieved (2011, Harpo Productions Inc.). Robert Kiyosaki looks at the Cash flow Quadrants in business plans to see where different sources of income come in and out (2011, The Balance You Need). Both strategies are key in developing successful business plans because without a clear vision, one will get lost and without proper management of finances, there will be no long-lasting vision.

It is important to evaluate respected experts in the field of business so, when writing a business plan you get the best advice possible to help you succeed in your plan.

Sources

Harpo Productions Inc. (2011). Oprah. Retrieved from www.oprah.com

The Balance You Need. (2011). “How to Build Wealth Through Network Marketing.” The Balance You Need. Retrieved from http://thebalanceyouneed.com/join-now/how-to-build-wealth-through-network-marketing/

The Rich Dad Operating Company Inc. (2011) Robert Kiyosaki.

Retrieved from www.richdad.com

Sohn, E. (2011, May 25). “How Oprah Winfrey Changed America.” Discovery News. Retrieved from http://news.discovery.com/human/oprah-winfrey-changed-am

What is Google+?

Social Media sites offer a way for people to connect with one another. Social media sites are great places to have companies place their advertisement all over webpages. With the success of Facebook and Twitter it is only natural to have another company trying to make its mark in the social media world. Google has come out with Google+ that offers people to connect and share with others.  However like many new products not all of them will succeed and have the level success of Facebook. Google+ is still very new and it is still generating a buzz amongst people.  It offers another major social media site that people can find each other on and connect through their Gmail account.

It is for the fact that other social media sites have taken a user months to create and add up their friends list, Google+ can gather your friends more quickly by seeing what friends are in your email account are Google + users. It also offers a tool to create a tighter group of friends instead of searching through a mass list. Google+ circles and hangouts is what is making this social media standout from the rest.  The concept of group chats offers a great feature for more connections in conversations.

With the launch of Google+ it is not surprising that major companies are advertising on their site. Pepsi has begun marketing with Google+ , Pepsi like other major companies know that Google+ is the new wave of social networking and companies are jumping at the chance to digital marketing with Google+ to increase their social networking presence. It was only after three months that Google announced that Google+ has 43 million users using this product. That is a large subscriber list already and it will only continue to grow and compete with the Facebook and Twitter social networking sites.

Sources

Macarthur, A. ( 2011, November 10). Why brands should, and will, care about Google+ Pages. The Globe and Mail. Retrieved from

http://www.theglobeandmail.com/news/technology/digital-culture/trending-tech/why-brands-should-and-will-care-about-google-pages/article2231897/

Bilton, N. (2011, November 10). Google+ Isn’t Going Anywhere. The New York Times. Retrieved from

http://bits.blogs.nytimes.com/2011/11/10/google-isnt-going-anywhere/?ref=technology

Mashable, Inc. (2011). Google Plus. Mashable. Retrieved from

http://mashable.com/follow/topics/google-plus/

Filtering through the Internet with Digital Marketing

Ever wondered how a search engine could filter through data to know what you are looking for? I did. I wondered how some sites could be listed on page one and the rest you have to click the next button to sort through other pages.  I learned it is through the keywords that I type in and the websites that are most viewed with those keywords that can make a website appear more frequently on page one of Internet searches.

With the mass amount of information that is on the Internet, it is important to use digital marketing to help attract viewers to your website. With proper digital marketing a website can gain a vast amount of viewership in a short amount of time. There are many ways to digital market and to figure out the best way to market your website is to figure out what other sites your target audience is more likely to visit.  Some self-marketing strategies for company can be through the use of Twitter, Facebook, and Widgets depending on their target audience. Other companies may out source professional digital marketing companies in order to successfully succeed.  Even a site such as identifier.com creates many new opportunities to companies as it enable people to analyze search engines on public profiles. Identifier provides enough data on search engine sites to help create a buzz around your marketing strategy. This site has even provided important information to employers showing them what future employees would have the better potential based on their media presence and professionalism. Digital marketing has become more than just advertising; it is a tool that everyone can use in order to keep their best foot forward in life.

The explosion of digital marketing has caught the eyes of a Google employee who has taken it upon himself to help educate others of digital marketing with Google tools. The YouTube video shows how we can use these tools to help our individual profiles and websites track viewers and gain viewership. Overall, educating ourselves on how to effective use digital marketing is the best way to help us get the opportunity to be on page one of Internet searches.

Sources

Hardy, Q. (2011, October 24). The Big Business of ‘Big Data.’ The New York Times. Retrieved from http://bits.blogs.nytimes.com/2011/10/24/big-data/?scp=6&sq=digital%20marketing&st=cse

Klaasen, A. (2009, March 30). How Marketers Tap Facebook and Twitter, Apps and Widgets. Ad Age Digital. Retrieved from http://adage.com/article/digital/digital-marketing-guide-social-web/135590/

Think Marketing with Google: Agile, Outcomes Driven, Digital Advertising. [Video file]. Retrieved from http://www.youtube.com/watch?v=li17Y4XmxWc

How to write a children’s book?

Is there a formula on how to write a children’s book? After exploring several different websites, I found that it determines on what type of book an author would like to write. Everyone seems to have a different take on the situation and just because a book is written one way it does not mean that is the right way either. 

The CBI Clubhouse website offers many different tips on how to develop a children’s book. If offers insightful advice on which direction an author should take depending on what type of story they would like to tell. It’s a valuable resource to help with character development and help with answering questions on the beginning stages of constructing a story. As a future children’s book writer, I would apply my knowledge I have learned from this site to my book.

Writing for Children, another website, offers training with a published writer to assist in the writing direction of an author’s story. On this site, a writer can take classes online and have an option to receive college credit. I would consider this site for a writer who has not had any basic education on how to properly write a book with a story arch. 

Lastly, Robyn Opie, awarded 101 winner for best website for writers by writers’ digest, has a different approach to writing a children’s book. Her approach I found to be very inspirational as she has different catch phrases on her site to keep a writer writing when they start. Her website is broken down into different categories to help a writer focus on what they need. If a writer wants to write an e-book, she has a category for it. As Robyn Opie did write over 80 children’s book, I would take some of the knowledge I have learned from her and apply it to my work to create a success career being a children’s writer.

It’s important to navigate the internet for different websites that are reputable to help gather enough understanding on how to write the best children’s book. Each website offers different needs for the author and it is by taking a piece of advice from each that can help create the best platform for your story. 

Sources

Opie, R. (2010). Robyn Opie. Retrieved from: 

http://www.robynopie.com/

The CBI Clubhouse. (2011). The CBI Clubhouse. Retrieved from:

http://cbiclubhouse.com/

Writer’s Institute, Inc. (2009). Write Children’s Books. Retrieved from: 

http://www.writingforchildren.com/H0753/youcanbeawriter.htm