Many a creative doesn’t want to wear the business hat. I know, that’s me too a lot of days. But it helps to be confident in wearing the hat when it’s needed and when to bring in the hired gun (e.g., a lawyer) for the right situations.
A legal eagle I use, Seth Polansky, posted this in a thread related to a particularly ridiculous film festival. I’ve seen it before, but in a sense, this about-40-minute video is evergreen and worth re-watching even if you’ve seen it before.
Between yesterday and today, you could accurately deduce I have business plans on my mind.
Today, I wanted to share another article I found on Entrepreneur. This one goes over six business plan mistakes to avoid. Many of them are ones fellow filmmakers and I have discussed (especially about #4 and money) and, hey, it may be useful to you.
I love this, because so many people like to harp on “your business plan” as if it’s this One Holy Thing your business needs — without defining it beyond the black box of the buzzword term “business plan.” (See also vision statement, mission statement, term du jour that boils down to knowing what you’re trying to do and how you do it.).
“Know your audience” is a common refrain for many creatives, so I suppose it makes sense knowing who’s looking over your business plan and why is obvious. But it’s a nice summary and, for me at least, a reminder that no one business plan would necessarily meet the needs of all the different audiences.
Jokes from my previous post about cheerleaders’ souls aside, it’s good to note that the debate about whether a business should seek profit to the exclusion of all else, or join it with purpose has raged for years, as explored in this article from Inc. by Bill Saporito.
Personally, I like it when businesses are profit-minded, but purpose-driven.
(At some point when I’m not feeling swamped with deadlines, I’ll elaborate on that phrase.)
I’m always interested in learning about a particular business industry’s ecosystem. How do some businesses become the major player? How do they fall? How do new companies displace them? So with that in mind, take a look at Leigh Buchanan’s piece in Inc. on Rebel Athletic and the surprisingly pitched battle in the cheerleader apparel industry.
Put another way: Come for the glitter, stay for the reflections on what makes a “Challenger Brand.”