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Event Planning Facts

Event Planning or management is most probably similar in analogy to planning a typical birthday party, where the preparations need to be set up in the most effective ways. However, there are more intimate details in event management that needs to be paid close attention to. Nowadays, the term Event manager seems to refer to an easy yet sophisticated and chic profession. Yet in actuality, there are consequences and accountabilities that are attached to this classy title of being a service provider. The name suggests the job profile of an event manager involves organizing a special affair. Concepts have to be visualized, planned, budgeted, and executed in events that are often highly regarded such as fashion or beauty shows, concerts, corporate seminars, exhibitions, wedding celebrations, th...[Read More]

Live Promoters Driving the Business Model Change?

With recorded music increasingly being given away for free and 360 deals becoming the norm, is copyright enforcement critical to the survival for the recorded music business? Live music promoters are the only companies offering large advances for 360 type deals with artists, so is the 360 model the way of the future? Who are the winners and losers in these deals? One only has to see the recent deals Live Nation has concluded with Madonna, U2 and Jay-Z, to realise that despite rampant piracy new business models are emerging, which sidestep declining recorded music sales. The fact Live Nation can afford to pay out such massive advances in my mind solidifies that Live Nation see more revenue opportunities in touring and merchandise and sponsorship than recorded music. I could be wrong but in ...[Read More]

Procedures For Starting A Restaurant Business In Las Vegas

Las Vegas, home of the most addictive casinos and gambling houses, a hot bed of entertainment, is also known as “Sin City.” It is a great place to start a restaurant business, as it is a tourist haven with an amazing demand for restaurants. How to Start a Restaurant in Las Vegas: Las Vegas has so many different restaurants and dining facilities that it will require careful planning and innovation to open a restaurant in Las Vegas that has something different to offer. It will be helpful if you could do extensive research and find out which kind of a restaurant has a greater demand and to verify if that demand exists in the area where you plan to open your restaurant. Decide on the kind of restaurant you want to operate, the foods you will serve, if you will specialize in perhap...[Read More]

Entrepreneurs Are Risk Takers – No Risk Means No Gain

The idea of taking risks is included when the word entrepreneur was derived. Small business owners or entrepreneurs are believed to be risk takers. But if we are to look into this assumption closely, anyone could see that a new business owner is subject to the same risks as that of a person working for an average company. If the latter is not doing a good job of getting clients/customers and managing cash flow, he could lose his job anytime. He could also get laid off even before his retirement. As a matter of fact, working for a company could even be riskier sometimes. Meanwhile, a small business owner may be placing his retirement funds at risk by venturing on a business. But almost everything in life involve a certain degree of risk. The same person may end up with a terrible ailment an...[Read More]

How To Obtain Limousine Financing For a Start Up Business

Many enterpreneurs like the glamour of starting a limousine business but the road to their success may be a little bit more complicated than one might anticipate. This article will concentrate on the financing side of the startup investment and try to give the want to be limo entrepreneur a reasonable assessment of what is in store for them. Today, most typical lenders aren’t interested in lending money to a start up business for a limousine service. They consider it a high risk type of business and feel that their investment dollars can be better spent somewhere else in their portfolio. However, there a few lenders out there that feel comfortable in the transportation industry and will lend accordingly. Their bankground might be exclusively in this industry and will cover not only l...[Read More]

Risk Management – A Case Study on the Consequences of Bad Risk Management

Introduction Risk in business is a reality. When these risks are successfully managed the rewards can be substantial. If not, a business can run into serious problems and even collapse. It is unnecessary (and stupid) to ignore risks. Over more than a decade we advised and assisted companies in growing and managing their businesses. Over time we observed many companies that ran into trouble because they ignored specific risks. This case study focuses on a few companies that each ignored one important aspect of risk management and then paid the price. The discussion is done under the following headings: Insufficient planning; Bad relationships; No hedging; Lack of discipline. Insufficient Planning Risk is drastically reduced by proper preparation and detailed planning. Planning includes feas...[Read More]

Project Shakti – A Win Win Situation

“Our partnership with HUL offers the rural entrepreneur a profitable business model while operating i-Shakti kiosks. Also, low cost delivery and customized products will result in higher benefit through enhanced economic gains for the rural consumers.” ~ Mr. Nachiket More Executive Director, Wholesale Banking Group ICICI “There’s incredible potential in rural markets. That’s where the growth will come from.” ~ Sharat Dhall, Hindustan Lever’s director of new ventures and marketing services Sankaramma, the leader of the local Kanaka Durga self-help Group (SHG) belongs to K. Thimmapuram village’s Muddaner Mandal in the Kadapa district of Andhra Pradesh. The village has 350 households with a total population of 1200. Sankaramma’s 5 hectares...[Read More]

Barriers to Franchise Ownership

The road to acquiring and owning your very own franchise can be long and difficult. There are many things one must consider before they make the ultimate choice to say yes to the business. However, even after all the initial work is done to get the franchise of your dreams, there are still many barriers you must overcome to succeed in the long run. Keep in mind that franchise ownership is extremely difficult and you could hurt not only yourself, but also the franchise name. One of the lesser known barriers to owning a franchise is time. As a franchise owner you had to put so much time and effort into maintaining your business that you will start to lose out on your personal life. While this meant that you will be well off financially, you will have to decide if you can handle the lack of p...[Read More]

How To Pitch Your Documentary Idea and Write an Effective Documentary Proposal To Get Funding

So you have a wonderful documentary idea and you just need some cash to get it going. Where do you go? How do you find funds? One of the first things you’ll need to do is write a Documentary Proposal. A proposal not only helps explain the project to potential funders and supporters, it’s a great exercise to get YOU the filmmaker thinking through all the details. Basically, a Documentary Proposal is your film’s business plan. Here are the key elements you’ll need to include in a documentary proposal: synopsis, project overview, treatment, style/tone of project, production schedule, interview subjects, crew bios, advisors/experts, partnerships, target audience, budget, fundraising plan and distribution strategy. There is often a lot of overlap when describing the syno...[Read More]

The Pros and Cons of Owning and Operating a Restaurant

All of us have dreams about the kind of career that we want to have. For some of us, it’s working at a Fortune 500 company. For others, it’s working from home. And still for others, it’s owning our own business. If you happen to fall into the third category and your desire has always been to own and operate your own restaurant, then you’ve come to the right article. That’s because below, we are going to share with you some of the pros and cons that come with being the owner of a restaurant so that you know what comes with running that kind of business below: PRO: People are always going to want to eat out. One of the best things about owning a restaurant is that it provides plenty of job security. That’s because people eat on a daily basis and sometimes ...[Read More]

4 Strategic Planning Tools For Business Model Innovation and Business Strategy Design

There are strategic planning tools for pretty much any objective a business executive can conceive of. However, for managers and entrepreneurs wishing to innovate their business model, it can be challenging making the leap from conventional thinking to the sort of creative but realistic thinking from which the next generation of sustainable profits can develop. Knowing the types of tools you can use for various kinds of business strategy tasks can you get far more innovative results from your strategy development sessions while cutting the time it takes to arrive at good business models. Tools for Mapping and Dominating Uncontested Market Spaces 1. Strategy Canvas The Strategy Canvas is a tool first introduced in the book, “Blue Ocean Strategy” by W. Chan Kim and Renee Mauborgn...[Read More]

Fixed Training Costs Vs Variable Training Costs

The current economic client makes it difficult for training departments to obtain any extra funds, much less normal operating funds. Many times departments must “make do” with the budget they’ve been handed. But once you have a budget, no matter how large or how small, you should have an idea of what costs are fixed and what costs are variable. Fixed training costs are simply the ones you can count on at any point. You’ll budget for these costs and be able to rely on the fact that they will most likely stay the same. For example, the salaries of the training staff are relatively fixed. When you work on your budget, for whatever time period, you know if you’ll be able to add staff, which we will discuss in a moment. You’ll also know how much to budget for...[Read More]

10 Traits of a Successful Car Salesman

Selling cars for a living is not for everyone, but if you are the right fit to be a car salesman these ten points will practically ensure you become a successful car salesman. The job of a car salesman is a bit like having a business of your own inside a car dealership. Having your own car selling business allows you to control how much you earn by your level of commitment to the profession. A successful car salesman can earn a six figure income and I have heard of some earning close to $250,000 a year. Implement these car salesman traits and you can join the ranks of the top salesmen and saleswomen that enjoy the peace of mind and security of a six figure income. 1. Commitment: As I mentioned earlier you control your own level of car salesman success in direct proportion to the amount of ...[Read More]

Digital Vs Physical Product Business – Which Do You Prefer?

There are good and bad to Both Digital and Conventional based Products & Businesses so I hope through reading this you can understand which you would prefer to do Business in. Starting with Conventional Products (Physical Products); firstly the customer receives something physically for the purchase and could in this way value a physical product, a customer may see the exchange of money for material as a fair trade even if the product itself does nothing but sit in the corner of a room, a physical product could solve an active problem in your daily routine and maybe can not go by without it, we all use and purchase physical products and need them in our lives. They keep us Entertained, Informed, Managed, Alive and in Business, without physical products life would be different in a big ...[Read More]

Start a Scrapbooking Business of Your Own

There is a growing global demand for the preservation of memory in the most unique and wonderful way. And scrapbook is the answer to that demand. Arguably the fastest-growing home business in the US, the scrapbook industry today is generating revenue of US$2.55 billion per year–the number may double if we take into account the global scrapbook industry. The demand for scrapbook will likely to keep growing. Hundreds of million of people get married, travel, and give birth every year–and this provides the opportunity for scrapbook industry to keep expanding. With around 2.3 million weddings in the US alone, there’s already a huge market in the states for scrapbook businesses. But there’s no need to confine yourself to the US; Japan and South Korea are ripe for picking...[Read More]