Thought Leaders Inspiration

In the previous blog post, we looked at a couple of business startup thought leaders.  My business plan was inspired by a few points made by both Dr. Jeffrey A. Timmons, and Guy Kawasaki.

Dr. Jeffrey A. Timmons’ point “How good is the founding team?” emphasizes “the importance of a team vs. a ‘lone ranger’ approach.”  The team approach is absolutely necessary in Music Production Training, because the partnership between the instructor and the studio enables both parties to participate with minimal financial investment.  The studio gains additional revenue from each teaching session without having the burden of developing curriculum.  The instructor has a professional teaching studio with no up front costs to build up the space with acoustic treatment or expensive studio gear.  Each party benefits from one another’s assets.  Alone, these parties would be required to make large investments before they could open the door to business.

Another important point that struck me was that of Guy Kawasaki, “Make Meaning not money.”  When considering the effort and investment required to start and sustain a business, it becomes evident that the business owner must be fully engaged to achieve success.  When an activity is meaningful, beyond making a profit or moving to the next step, there is the potential to maintain a stronger commitment to the business.  In my case, I have a strong urge to make a positive impact on other people’s creative lives, and supporting them in their music production is a rewarding way to do that.

Since my business will not require any outside investors, the business plan serves as a roadmap for my benefit.  The most important sections of the plan are those of Target Market (understanding the market), the Competition (understanding the competition) and the Marketing sections (understanding the marketing).  These sections will be useful to help keep my business on track, and to build confidence in the partnering studio.