Friday, July 29, 2011

Preparation for my business plan

When I am presenting my business plan to investors I have to think like an investor. Mark Cuban and Daymond John both determine if there is a need for the product or service.  I will explain to them why my services are needed and show them the huge market. Like Cuban and John, all investors are looking for ROI. I have to prepare my financials and show them how their money will multiply. Having a thorough lists of start up costs and beginning salaries will show them that I have thought the money aspect out completely. Using web tools like Google Analytics that show who my target market is will also help my business plan. There will also be a list of potential marketing campaigns and the cost of each in the business plan. Investors also look at past financial records of the business owner. I probably will not have any financial records for them to review other than my personal history. I have to make sure that this is all in order, so they can trust me with large sums of money to run a business. 

As well as making sure the business and the financials are well explained, I have to prove my product. I will have examples of production work and a demo reel that shows why customers will be interested in my company. These investors also see if there is potential growth for the company. Because of the nature of production, there is always room for growth. Wether it is more advanced technology, or employing more staff in order to tackle more projects, production companies can always expand and even franchise. 

John and Cuban also look for how they can contribute to the partnership. When i target investors I will target those who have built companies from ground up. I will also target investors who are familiar with video production work.  


Tuesday, July 12, 2011

Shark Tank Investors Mark Cuban and Daymond John

Mark Cuban is a self-made billionaire from Pittsburgh, Pennsylvania. It's hard to believe that he sold garbage bags door-to-door when he was 12 years old. He obtained a business administration degree from Indiana University. He founded HDNet, MicroSolutions, and Broadcast.com.  He now owns the Dallas Mavericks and Landmark Theaters.  His extreme success came from his pursuit of business ideas that he developed throughout his career. He lets his money work for him by making investments. 

Daymond John is a wealthy entrepreneur from New York City who is best known for is fashion label FUBU. His started out by selling tie-top hats in New York. He designed the FUBU logo and began sewing it onto other clothing and making a great deal of money. He and his mother mortgaged their home in order to get $100,000 start up capital. With the guidance of Daymond, FUBU obtained 350,000 million dollars in revenue in 1998. 

Both of these investors look for similar key components when deciding whether or not to make an investment. First, they determine if there is a need for the service or product. If there isn't a need for the product then they will not invest because their goal is to obtain the best ROI. They also decide wether there is a target market for this business idea. This is a key component because knowing who would be interested in this product helps to make projections of future income. The next thing they look at is the history of the person seeking investment money, and if there is a financial record of the business they take that into consideration as well. If the entrepreneur hasn't done well in the past, then the Sharks will not trust them with their money. After they determine if there is potential growth for the business, they then consider there own personal expertise to see how they can financially contribute to the idea. Preparation is also a key element in determining whether they will invest. They most likely will not invest if there are no type of financial projections. The main difference in Mark and Daymond's investment decisions deal with their specific area of expertise. Depending on the knowledge and connections they have in a specific industry, they decide whether they will be able to contribute and control a portion of the company. 

Information From: 
http://bpexpertviews.blogspot.com/2011/03/march-new-experts.html

http://abc.go.com/shows/shark-tank/bio/daymond-john/276281

http://abc.go.com/shows/shark-tank/bio/mark-cuban/727229

Friday, June 17, 2011

Successful Social Media Campaign

There are lots of companies that use social media in their marketing strategies. Because there are more people than ever that are using social media sites, it is wise for companies to have a strong presence not only on their websites, but where they can be can have conversations and receive feedback. Social media gives companies the opportunity to analyze and converse with their target markets and receive valuable feedback.
Edge Factory is a successful video production company in Orlando, Florida. This company takes advantages of the perks that social media offers in their marketing strategy. They have widgets to their Facebook, Twitter and Youtube pages on their website. They use Facebook and Twitter to post information on their new projects. They also have a YouTube page, which contains several examples of work that they have done. So if someone is on Facebook, Twitter or YouTube searching for an Orlando production company they can be found on each site. The thing to take note of is that each of their social media pages contains the link to their website.
There is a benefit to having a Facebook and Twitter account. It shows that they are connected with other professionals in the industry. It also allows them to establish relationships with the media world.
The benefit of having a YouTube account is that they can easily embed their videos on any site. And even though they have reels and examples of production on their site, having a YouTube channel allows them to get feedback from those interested in their services or other professionals.
Even though they have posts from other professionals and people interested in video production, they could improve their marketing strategy by posting more often and gaining more of a following. They could use more friends and more followers on Twitter. If they had more friends then they would look better if someone would happen to cross their page. It would seem like they are a credible company. It’s also important that they establish relationships with the people that they make friends with. 

Thursday, June 2, 2011

The problem with personalized digital marketing

Several websites and search engines are storing information about the users. You are probably thinking, “Okay, what else is new?” Well, you may not know to what extent this is happening. Let’s take Facebook for example. You may notice that the same friends are appearing in your news feed and on your page. This is because they keep track of who you interact with the most. This is not too much of a big deal. How about the fact that they use your personal information to collect money from advertisers? Your status updates, information in your profile, and even things you share with your friends are all recorded and used to target you specifically for advertising. This is the digital form of traditional surveying methods, except it’s done without your permission and willing participation. Maybe they consider you a willing participant for using the services provided by the site. But is it still okay when they take information from other sites you’ve visited? Even if you are logged out of Facebook, they can still track different sites that you’ve visited, and content that you download. I believe that if this is going to be done, we should have the option of selling our web history to places like Facebook, so they could then use it to gain profit from advertisers.

Another point that was brought up in the Ted Speech by Eli Pariser titled Beware online “filter bubbles” (http://www.ted.com/talks/lang/eng/eli_pariser_beware_online_filter_bubbles.html) was that this type of customization and personalization separates us in a sense. Google also customizes the results of the users. Based on previous searches, web history, where you are geographically located, the type of computer you are using, etc. Google will customize your search results based on what they think you are most likely to click on. This helps them to keep advertisers happy.

Huffington Post, Yahoo News, and New York times are all using personalization in various ways. The problem with this new system of customizing results on the web to each person is the user no longer decides what content they will choose to consume. You no longer control the web and decide what your web experience will be like; the web controls you and chooses how your web experience will be. It’s like if you were going to a buffet. And based on what you ate last time, you only have access to specific kinds of food. The restaurant says, “Based on what you ate throughout the week, and what you ate last time you came to our buffet, we have customized a new buffet just for you. We have excluded all seafood and desert items. We realize that you didn’t eat any fried food yesterday, so those will not be available to you either. Please enjoy your personalized meal.” I don’t know about you guys, but I would like to experience the whole buffet. 

Thursday, May 26, 2011

Marketing a Self Published Film


So now that you’ve decided to go the route of self-publishing, how will anyone know about your product? Because you are an independent filmmaker, you probably wont have the biggest budget to work with. That’s okay! Use the resources that the internet and modern technology has provided. Here are some ways to market your film with a minimum budget: 

Tell Everybody! Before you get all worked up about not affording TV or radio time, start by just telling the people you know. You have way more connections than you think you have. Email everyone in your contacts!

Make a Trailer! If you are distributing a film that you produced, creating a trailer for it shouldn’t cost much at all. Once the trailer is created, you can then put it on sites like Vimeo and YouTube. Once the trailer is posted to YouTube, it’s now easier than ever to share. In just about every place you post the link, a video box will appear and people can watch it from whatever site they are on.

Social Networking! Use the power of Facebook. Yes, I said power. There will be groups with similar interests as you. Find out who’s all in your demographics. Since you have created a trailer you can post it in all the groups with similar interests. You can also post the link of where your DVD or download can be purchased.

Demographics! If you are making a documentary on inner city injustice, then you may think you only have one specific target audience. If you really break your topic down then more people will be on your consumer list. With inner city injustice, you can target the minority races, people from inner city environments, people involved in the justice system which includes, lawyers, police officers, politicians etc. You can also target minority activist groups who have a similar passion. This kind of break down can be done with any topic if you just take the time to think about it!

Create a Website! The great thing about your own website is you can put whatever you want on it! Need I say more?

Magazines and Blogs! Have industry experts review your work. Send them a copy of it and a letter asking for a review. The worst they can do is say, “No.” If they do comply, you’ve just opened the door to all their readers, and anyone who may stumble across what they are doing. (Make sure your content is good, and do your best to choose people who will give a review in your favor so this wont backfire.)

There are other opportunities out there if you just think about it. Contact people who are involved in similar projects and they may sell your product for you for a small commission. If people admire your work then they will spread the word and start to market for you! There are so many things you can do spread the word and get people interested in your product even with a small budget. So get out there and find opportunities to market and network! 

Self Publishing Video Production


As the years go by, we are having more and more access to technology. Because of this, there is more opportunity to create. This is not just true for those who create films and documentaries, but in every creative genre. It is now easier to write books, produce music, games, and useful applications than it ever was. Most of us who are serious in our industry have figured out ways to create our content, but most of us are still struggling because we don’t know how to distribute our content.

Until recently, it would have been easier for me to figure out how I would create my content as a filmmaker, and get all the equipment and resources for it, then it would be for me to figure out what I would do once it was created. First thought, “Uh… put it on YouTube.” Yes, and make zero money. Thanks to my current Full Sail professor Kimberly Craft, I now know better ways to monetize my product without traditional distribution channels.

The first thing anyone should do is to obtain a copyright for their work. Do this by registering with the copyright office on copyright.gov. If anyone infringes your work, you will then be able to sue them. If you do not register your work, anyone who has access to it can do whatever they want with it. They may even use it to get money for it themselves. After you obtain a copyright for you product, you must then get the correct codes to sell it in retail locations.  The codes needed for DVDs are ISBN (International Standard Book Number) and the UPC (Universal Product Code).

There are several ways to distribute a film, video, or documentary. The way I am suggesting is self publishing with the use of a POD (print on demand). The way this works is that you submit your product to one of the POD sites, such as createspace.com. Then, when a customer chooses to purchase your product, they will send them a newly published copy of the DVD. You may have the option to package it however you would like, depending on the POD, and send it directly to the customer. These PODs make your product available in several different places. For example, if you put it on CreateSpace, your product is automatically put on Amazon and eStore. You may even be able to set it up where someone can pay you to download the entire film. Once you have set this up, you have to market the product so that it will be easy for potential customers to find it.

Wednesday, April 20, 2011

IP Law Podcast Series from Suffolk University


After listening to several interesting podcasts concerning intellectual property by various professionals, I am giving a brief synopsis of each subject.  

1. An Overview of Intellectual Property, by Stanley W Sokoloff. 

They explain that IP breaks down into three different categories. The first category is trademarks. They are known as words and slogans that identify the source of origin. The second category is copyright. Copyright protects literary and artistic expressions. The last category is patent protection. There are two types of patents. A functional patent protects processes and composition of matter. A design patent focuses on the ornamental features of the matter. 

The function of a trademark is to stop confusion. Copyrights protect against copying. Patents exclude other people from making and selling an invention. 

The example that they give in this podcast is breaks down the components of a television. The trademark of the television would be the brand. Let's say it's Sony. The programs being viewed on the Sony television will be copyrighted. Things like plays and various scripts would be copyrighted. The wiring and electronics that make the Sony television work would be covered by a utility patent. The ornamental configuration of the display case that the TV is in could be protected with design patent. 


2. Design Patent Infringement: Gorham v. White, by Christopher Corony 

Corony gives a timeline of what was going on in the US leading up into the time of the Gorham v. White case. 

1861 to 1865 the Civil War was taking place. After the Civil War, Corony explains that America was in the Reconstruction Era. During this era Americans wanted to forget about the war and move on with their lives. During this time they became interested in art, as the Europeans were. They then entered into the Impressionism Period in 1872. 

John Gorham became very popular because of the various house wares that he made. He was known for his Victorian style plate ware. Once he was very successful with that, he then came out with the cottage design plate ware. Because this cottage design plate ware was very successful, he got a patent for it. 

Leroy S. White made Gothic design from plated silver. There were several similarities between White's design and Gorham's design.  There were also several differences. When Gorham brought this to trial, the court had to make a decision whether the similarities in the ware would be tested from someone versed in the trade, or just an ordinary observer. They concluded that someone versed in the trade would be the criterion for deciding if they are too similar. The ruled in the favor of the defendant and Gorham then took the case to the Supreme Court. 

This is the only Supreme Court case for design patent in history. The Supreme Court thought it was wrong to base the test for similarities on someone who is versed in the trade. There will be more ordinary observers who will purchase the ware. The court ruled in favor of the Plaintiff. They decided that it is the overall impression, not the little differences that determine if two things are substantially similar. 
There are 3 important things to take away from this case:
1. This case confirms the merit of design patents. These patents are meant to be a service to the public, warranting protection, and enforced. 
2. They again questioned whose eyes should the similarities be viewed through. Instead of someone who specializes in the art, they decided that it would be more appropriate to have an ordinary observer be the standard.  
3. They came up with the term "substantial similarity." This is the degree that is still used today to decide whether or not two items are too similar. They didn't want people to be confused between two different products. 
These are the standards used now to tell the difference between two similar works, when it is concerning design patents.

3. Consumer Law in Second Life, by Dr. Christine Riefa

Second Life is a virtual Internet environment where users are able to create businesses and sell property. Christine Riefa is wondering if they should enforce consumer rights in Second Life. Second Life uses auctions to sell land and property. She points out that, unlike other virtual environment games, Second Life doesn't have a goal. When they are making various purchases, such as a handbag for the Avatar, the game is basically selling code. The things that are bought and sold with a currency called Linden Dollars. These dollars can actually be exchanged for real money. This makes Dr. Riefa wonder if normal consumer rights should be enforced. Is it fair for Second Life to shut down several accounts, or to not reimburse users if their purchases aren't what they should be? She is saying that they need software protection for the goods within Second Life; the same way there is protection for consumers in the real world.

4. The problem of Overprotection of IP, by Andrew Beckerman Rodau
A short explanation of what Mr. Rodau is saying is that the problematic over lapse of IP protection is caused by guidelines that are too broad. The problem that he is addressing is that creativity and innovation can be protected by more than one body of law at the same time. He believes that it undermines the balance that was initially set in place. "People are looking at how they can expand what they can protect, but they give little consideration to how it affects other bodies of law." 

He describes how each area of IP protection has changed over time. At first copyright law covered maps, charts and books. It now covers everything from choreography to software. He mentions that anything with a method can be patented. Anything with any function can is eligible for patent. He gives an example of an outrageous hat that was patented because it's function was to "draw attention." Trademark law has expanded as well. Trademarks originally protected words, short phrases, and designs. Now anything that creates any mental associated is potentially a trademark, according to Rodau. 

Google has a copyright and a design patent on the same work. He sees this as a problem. The design patent statute talks about the exterior appearance of something. Is the Google design ornamentation? Is it ornamentation of the computer monitor? 

So he’s saying, if I paint a painting, and I copyright it, I can also get a design patent on it because it can be digitized and shown on a computer screen just like the Google image.  So they get the benefits of the design patent, and when it expires after 14 years, they continue getting protection because of their copyright. Maybe they should be made to choose.

And sounds that cause mental associations can serve as a trademark, such as 20th Century Fox’s opening music, but that song can also be copyrighted. The balance that was built to encourage people to keep creating is burdened.

5. Patrick Cariou v. Richard Prince, by Jessica Silbey 

Appropriation art is an art form that uses the artwork of others and makes collages. Because it uses other people’s work, the artists may be in danger of getting sued for copyright infringement. 


The plaintiff, Patrick Cariou, in this case is a photographer who is not famous like the defendant, Richard Prince. Patrick made a book of photographs from his time in Jamaica that he called Yes, Rasta.

Prince took these images and encouraged and made collages in a show called Canal Zone. The case was brought up before the court questioning whether the reconstruction of the photographs was infringement or fair use. The judge decided in favor or Cariou. 

There are several rights that citizens get with copyright protection. Cariou infringed on two of them. With a copyright you have the right to control reproduction, which stops other people from reproducing without your consent. It also gives the right to control the making of derivative works. 

So the court's decision is "changing the culture of innovation." Copyright law has a purpose to encourage others to be creative, but in a sense because of this case it could actually be doing the opposite and restrict creativity. She is suggesting that some of these appropriation artists can’t afford to pay the licensing, so this will make it more difficult for them to do this type of art.

She explains that fair use allows people to express creativity by making secondary works. Transformation is a very important term in fair use. It means that it took something old and gave it new meaning. They are saying that Prince did not do this. The court concluded that the works that Prince did were unrelated to Cariou's photographs, but not transformative. If there would have been some type of purposeful referral to the original work, then Prince may have won the case.