A Successful Business Has A Business Plan

Practically every successful business had started out with a strategic business plan. Business plans are strategic guidance that allows people to analyze their business ideas on written format. People have new and improved ideas for products and services all the time. However, it takes discipline, integrity, patience, resources, dedication, strategic planning, a smart business team and money invested to have a successful business. Two great business people come to mind when it comes to building a business empire and that is no other than Mr. Donald trump and Ms. Oprah Winfrey. Both are two of the greatest examples of leadership of entrepreneurship. If there ever were two people to follow in business planning, it would be Ms. Winfrey and Mr. Trump to learn from. 

 

Donald Trump was born in 1946 in Queen’s New York. As a child, Donald Trump’s parents sent him to a military school called New York Military Academy at the age of 13 to help channel his energy into something positive.  Because of the discipline teachings from the academy, Mr. Trump became a leader within his student body and a star athlete. After high school, Mr. Trump graduated from Pennsylvania University with a degree in Economics. According to Bio True Story, “Trump seems to have been strongly influenced by his father in his decision to make a career in real estate development, but the younger man's personal goals were much grander than those of his senior” (Bio True Story, 2011). Donald Trump believes a business plan helps an individual with focus and direction. He basically believes a business without a plan is a business that will fail. 

 

Oprah Winfrey was born in Mississippi raised on a farm by her grandmother who taught her how to read bible verses and poems by the age of three. By the age of six Oprah was sent to Milwaukee to live with her young mother who was working as a housemaid. Ms. Winfrey later in her childhood was able to move with her military dad Vernon who put her through college at Tennessee State University and found a job working in radio and television broadcasting. Since then Oprah has launched The Oprah Show in 1986 earning over $120 million in profit’s it’s first year, along with being the highest grossed daytime show in history. Ms.Winfrey states, "Where there is no struggle, there is no strength" (Winfrey, 2010). 

According to George Deeb who writes topics on his blog about business plans, there are six critical and key components that investors are looking for in a business plan: (1) your industry/competition; (2) business/revenue model; (3) sales/marketing plan; (4) management team; (5) cash requirements; and (6) forecasted financials/expected ROI (Deeb, G., 2011). Mr. Deeb believes industry and competition is the most critical because of the research needed up front. All six categories are all considered key because an individual cannot expect to have success without a plan that does not execute knowing the competition and industry for the business desired. Knowing how to implement the business structure is key for the operation of the business. The sales and marketing plan is being creative for all avenues reaching potential customers and revenues generated. A good management team can make or break a business, so it is important to choose a management team that really cares about the business and it’s future growth. Choosing a good management team means choosing a team with the skills needed for the job, prior experience, and a good fit for one another that share the same vision. Knowing your cash requirements is helpful because investors prefer a smaller cash need from a business than a higher cash need. All of these elements for critical and key components are what shapes successful businesses in tomorrow’s leader’s.

References: ABC News. (2011). Official ABC News Website. Retrieved November 26, 2011 from
http://abcnews.go.com/Entertainment/oprah-winfreys-chapter-gamble/story?id=15000171#.TtEmbeZnK2x
                       Bio True Story. (2011). Donald Trump Biography. Retrieved November 26, 2011 from
http://www.biography.com/people/donald-trump-9511238
                       Deeb, G. (2011). Lesson #7. Key Components For Writing A Business Plan. Retrieved November 26, 2011 from http://redrocketvc.blogspot.com/2011/03/lesson-7-key-components-for-writing.html
                       Trump, D. (2011). Official Website. Retrieved November 26, 2011 from http://www.trump.com/
                       Winfrey, O. (2010). Oprah Winfrey Quotes. Retrieved on November 26, 2011 from
http://www.strategicbusinessteam.com/famous-small-business-quotes/oprah-winfrey-quotes-business-success-secrets-of-a-talk-show-billionaire/
                      
                      

 

Celebrity Buzz Update!

 Monique's next  two interview's is with no other than Disney's very own Cartoonist of 18 years Marshall Toomey, and Johnnie O'Neal from the online radio show called "Johnnie O Gospel Show" from Chicago. Feel free to sign up for Monique's email list for updated future posts! Don't forget to visit her Facebook Celebrity Buzz page and Twitter page. Also, stay tuned for other entertainment news and announcements. Older Celebrity Buzz talk is posted on the Facebook page and blog archive. One Love!

Celebrity Buzz Talk With Shanice Wilson!

 Shanice Wilson

 The blog before this blog was about how Shanice is using digital marketing to her advantage through her social networks, and her personal website called www.shaniceonline.com.  There are many artists out in the music industry who can sing, but when you can remember an artist who can just blow you away with his or her vocal talents, a fan will never forget that artist. One of my favorite singers in the early 1990’s was no other than Shanice Wilson who was signed to A&M Records in 1986. She has always been an artist I had always looked up to because she gave her fans good music. She’s soulful, gifted vocally, and presents herself like a real lady should. Shanice never sold herself out by turning into an artist who exposed her body to fans just to like her; and for that, it is why I have always respected her.  I did get one chance to meet her on the set of the show called “Martin” created by Martin Lawrence at CBS studios in 1991 where my cousin Cliff Miller was on the game show called Gladiator. Just like I expected, Shanice was kind and friendly to meet. 

I am happy to say after 20 years of Shanice still being one of my favorite artist, it was an honor and a privilege to speak with Shanice early this week about how going independent has taken a positive turn for her, and how many past and new artists are headed with going independent. We also spoke about her giving new artists and entertainment student’s advice on where the music business is headed. Here is what Shanice Wilson and I talked about:

(Monique)- Good afternoon Shanice! thank you for allowing me to speak with you about how the music business is changing, and you being an independent artist!

(Shanice)- Thank you Monique, it is my pleasure!

(Monique)- Many people in the industry remember that John McClay discovered you and you were signed to A&M Records in 1986. Then after two years with A&M you were signed to two other record labels that were Motown and LaFace Records. By 2005 you started your own independent label called “Imajah/Playtyme Records”. With that being said, why did you decide to go independent as an artist?

(Shanice)- I decided to go independent because of the advantages I saw. First of all, an artist has to go through his and her label to get permission to do whatever is presented to them. If an artist wants to talk with their fans, they need permission from the label to do so. If an artist wants to do anything and have their own ideas, they have to consult with the label first. Being an independent artist the artist has the freedom to do what they want without having to deal with someone telling them what to do. The downside in being an independent artist is the financial side weighs heavier on the artist. Being signed to a major label the artist financial responsibilities are being taken care of by the label. However, make no mistake, the artist will pay back every penny they owe their label!

(Monique)- Wow! So the glamour looks good up front, but behind the scenes of it, the artist is hit with the reality of the business side.

(Shanice)- Yes! I didn’t earn much from the sales of my albums in my earlier career Monique! I wrote many of my songs and that is where most of my money came from. Everyone got paid before me, but my song writing brought me royalty checks up to this day!

(Monique)- I am well aware of that strategy in this business. Song writing is where the bread and butter is at the most. If there is any advice you can give entertainment students and new artist who are trying to make it in the music business today what are they?

(Shanice)- I would say “know who you are as an artist, don’t depend on the label to tell you who you are like I did if you are signed by a major label”. I’m saying, don’t allow the label to make you be an artist you know you are not feeling comfortable being. Being confident in yourself and your music will help you get where you want to go”. Writing your own music is the best thing an artist can do because it’s what will give them long Gevity for making money from the songs the artist created for years to come. Also, learn the music business side, it will help in the long run.

(Monique)- I totally agree! One last thing Shanice, I heard on KJLH 102.3 radio station that you had finished performing at the Wilshire Ebert Theater for HIV/AIDS awareness cause with Sheryl Lee Ralph doing the show called “Divas Simply Singing” on October 22^nd, 2011. I wanted so bad to attend the show because it is a worthy cause to raise money for finding a cure for HIV/AIDS virus, and Ms. Riley selected some great singers to perform like yourself.

(Shanice)- Thank you, and yes it is a worthy cause. As an artist I feel I have to give back when opportunities present themselves to me. The one thing I really believe in is caring for people. Sheryl Lee Ralph has been doing this cause for 21 years and I am happy to be a part of it this year.

(Monique)- Last but not least! What are you currently doing?

(Shanice)- Well, I am currently promoting my new single called “Tomorrow” that was released in March of this year, and doing some acting. “I have always loved acting and singing”. By next year in 2012, my husband Flex and I have plans on having our own production company. I also am excited to announce that I am singing on Michael Jackson’s new album called “Michael” on a track called “Behind The Mask” with Michael Jackson being released on 11-21-11. This will make a great holiday gift!

(Monique)- Wow! That is awesome! Well I can’t wait to hear about the production company, see you acting, more music from you, and Michael Jackson’s album with you singing with him on a song! I want to thank you Shanice for giving me your time to speak to your fans and anyone who enjoys good music from a great singer. We can follow you on your Twitter and Facebook sites, so fans check out my girl Shanice Wilson tribute to the one and only Ms. Tina Marie who adopted her as her auntie.  One Love.

 References: YouTube, (2010). Shanice Wilson Sings Tina Marie Deja Vue. Retrieved November 11,2011 from http://www.youtube.com/watch?v=bWhOOBCGThE

Shaniceonline, (2011). Shanice "Behind The Mask With Michael Jackson. Retrieved November 11, 2011 from http://www.shaniceonline.com/index.php?option=com_content&view=article&id=76:shanice-behind-the-mask-with-michael-jackson&catid=40:fp-roknewspager&Itemid=50