Imagine yourself squaring off against potential investors to your business, what are they really after? What sections of your business plan do they go to first and which sections will make them invest or walk away?
I began asking myself these same questions while preparing my own business plan. While there are some elements that all investors look for, certain sections are going to be more important to specific investors. Here are the sections that if written well will help to attract all of the operating capitol that I need.
1) Marketing Plan & Sales Strategy: I am launching an e-commerce website. It is not designed to compete with the industry giants but it is designed to earn substantial revenue. Investors will want to know how a company with no store front and zero name recognition is going to attract enough customers to repay their investment. How will the company earn the money? An investor needs to know that our marketing plan is excellent and will help to make the company profitable. If the marketing plan and sales strategy is poor then the investor will know that they have little chance of receiving their investment and profit back. Many people have great ideas but cannot earn a profit.
2) Operations: Can the company navigate, fulfill its commitments, keep cost reasonable, satisfy customers, and manage profits? If not this may be a red flag the company will fail. It may also indicate that the company will need additional funding in the future to fix a crisis or bring the company up to snuff. The operations section will show that there is a solid plan in place to deliver on what we say we will.
3) The Financials: This is probably the first section that 9.5-out-of-ten turn to first. This is ultimately what it is all about for an investor and provides many clues to the chances of success for a business. Many investors have rules on what they will invest in based on this section. Even if they see the company is solid and can earn a profit it does not guarantee they are going to invest. Many investors will only lend their money out if they see the potential to hit their minimum returns. This section will make them want to learn more about your business until the point where they decide to invest or will make them lose all interest. It is vital this section be accurate and easy to understand.
4) Company Description: Who are you, what do you do, and how can I earn money from it? Investors want to see you have a solid idea and the potential to be successful. This section will tell them if you can be competitive and if it is something they want to invest in. Some investors invest in anything that they believe will earn a profit but others invest only in certain fields or businesses that agree with their beliefs and values.
5) Industry Analysis and Trends: Have you done your homework? Do you know what you are doing or are you a pie-in-the-sky dreamer who fails to see the real picture? This section will notify them if your research is accurate and they may verify your analysis. Is this a market that is growing or shrinking? Does your data indicate that your company has a chance to earn market share and is it a good market to invest in?
I have decided to complete several detailed reviews of my plan before asking experts to offer their notes. When they have returned their notes I will review them and incorporate what is useful. I will then adjust it and review and ask the same experts for a final review. My goals are to make sure that my information is 100% accurate, concise, and easy to understand. I want my review committee to challenge me on everything because if I can successfully explain it to them and reach consensus then I can do the same with an investor. It is a great opportunity to ensure that I am explaining clearly before seeing a potential investor. I want to reach agreement with as many investors as I need as quickly as I can. It is too hard to regain interest after a failed presentation.
I am in the process of rewriting the company description and editing my financial section so that investors can easily understand the figures based on the data that I listed.
Thank you for reading!
http://www.rhondaonline.com/
http://bpexpertviews.blogspot.com/
http://www.entrepreneur.com/article/38308
http://books.google.com/books/about/The_Entrepreneur_and_Small_Business_Prob.html?id=xYRX0FAFM0YC
Sunday, January 29, 2012
Sunday, January 8, 2012
THE KEY ELEMENTS: EXPERT ADVICE IN CREATING A BUSINESS PLAN
In my time, as a business consultant, I rarely met a business owner who enjoyed writing a business plan. It isn't a fun process, the research can be tedious and it can create anxiety. Writing a business plan forces you to answer questions that you may not have the answers to. You may not even know where to find the answers. Would you be surprised to know that several times when working with a client I was met with a blank stare and a dropped jaw when I asked to review their business plan? They simply never did it, didn't view it as necessary, and several of them had long-standing and successful businesses. I am not indicating you do not need a business plan, I am tell you that you absolutely do. Had some of my clients had them and practiced them they may not have needed my services to fix the problems they hired me for. They had gone off course and/or failed to plan for events both positive & negative and then had no idea how to fix it. Create a quality business plan, take your time, make sure your information is accurate and make sure every key player in your business knows your plan intimately.
William A. Cohen "is a Professor of Marketing, former Department Chairman, and Director of the Small Business Institute at California State University, Los Angeles. He has held various positions in industry from marketing manager for a $3 billion firm through company president and operator of his own small business." His more then 19 books have been translated into seven languages.
In his book "The Entrepreneur & Small Business Problem Solver", Mr Cohen talks about using your own money, a loan against your savings account, your life insurance, capitol equipment loans, borrowing from family and friends and many others. You must complete the Small Business Administration (SBA) Business Plan and Qualifications Resume to obtain an SBA loan. It is impossible to gain investors without a business plan. Many business owners only create a business plan after they have attempted to gain investors without one.
A summary of Cohen's writing on what investors are looking for is:
1) Describe in detail the type of business (business plan).
2) Experience and management capabilities.
3) A estimate of how much you and others have to invest in the business ("Skin in the game") and how much you will need to borrow.
4) Current financial statement balance sheet listing all personal assets and all liabilities.
5) A detailed projection of earnings for the business.
6) "List collateral to be offered as security for the loan, indicating your estimate of the present market value of each item."
7) What are you willing to pay (interest, assets, shares in business) for the loan?
8) How and when will you pay the loan back?
9) "Special Assets": Is your concept valuable and do you have any designs, copyright, intellectual property, patent rights manufacturing and processing techniques? What is the value of each?
10) How will you use the funds given to you?
11) Plan of action.
Investors want to know that your business is sound, is being operated well, has a wise plan for the money borrowed, you have the ability and plan to pay the loan back, and you are making good use of the money.
www.go4funding.com offers advice on borrowing from Angel Investors. What is an Angel Investor? The Wall Street Journal reports "An angel is a wealthy individual willing to invest in a company at its earlier stages in exchange for an ownership stake, often in the form of
preferred stock or convertible debt. Angels are considered one of the
oldest sources of capital for start-up entrepreneurs; the term itself,
by most accounts, comes from the affluent patrons who used to finance
Broadway plays in the early twentieth century. In 2007, angels invested
$26 billion in 57,120 ventures, which breaks down to about $450,000 a
deal, according to the Center for Venture Research at the University of
New Hampshire in Durham. That makes angels a potentially powerful
resource for newbie entrepreneurs with promising young companies."
go4funding.com says that, "Often times, entrepreneurs are rejected for needed capital because their venture does not match the investor’s criteria, standards, or investment preferences. Some important fundamentals to consider when selecting an investor is the type of industry involved, the company’s stage of development, the amount of capital that needs to be raised, and the geographic location of the enterprise. Business owners can save ample time and frustration from investor rejection simply by conducting a substantial amount of research on potential investors and making sure that their company complements their investors’ requirements."
To prepare to seek angel investment consider the following:
Geography
"Most angels prefer to invest locally for a variety of reasons. First, the convenience of proximity will allow them to frequently visit the companies they have invested in, so they can regularly convene with the management team and be present to witness their investment progress. Second, being closer to their investment enables them to “source” deals through referrals whom they know and trust. In order to accomplish this, they rely greatly on other locally situated angels, accountants, attorneys, business associates, etc."
Size of the investment
"Angels are interested in building small start-up companies into moderately-sized businesses or large valuable corporations with a high ROI. These types of start-ups may require capital of tens of thousands of dollars minimum to launch, with subsequent rounds of investments throughout the company’s development."
Management team
"The management team appointed by the company’s founders must be solid, balanced, and experienced. Some businesses have management teams located in different cities and come together solely through telecommunications or videoconferencing. This kind of “scheduled” organization puts the whole team at a disadvantage because they are not physically working together or know how to properly collaborate in the business.
On the other hand, if all the individuals of a management team are situated in one location, the individuals have the opportunity to work with each other and learn from each others’ strengths and weaknesses. Even if a team has never worked with each other in the past, when they come together during the start of a company, they should demonstrate the “ability to execute,” that is, work together in harmony with a proven track record and show their company is establishing revenue and a quick ROI."
Market/industry influence
"Angel investors usually invest in industries they have experience in. In addition, they always evaluate the market’s needs for different products or services. "
Improving technology
"Technology products and services have always demonstrated popularity among consumers. Since many technologies exist, the entrepreneur should convince the angel investor that their particular technologies are not only one-of-a-kind, but that they address any flaws that their competitor’s products may have and as a result consumers will purchase their products and services."
Competitive advantage
"Every investor determines a company’s worth by trying to identify the reasons behind why customers are inclined to use their products or services. Young business owners should convey the extraordinary, distinctive qualities of their company to their investors and why their enterprise possesses a competitive edge."
Potential rate of return
"When compared to venture capitalists, monetary gain tends to be a secondary motive for most angel investors. While many angels invest for reasons that are not purely financial, their overall goal is still profitability. They recognize that start-up companies are high-risk investments and will want to justify that risk by seeking commensurate (very high) rate of returns.
For example, some angels require a 25% rate of return each year, while others may desire much more, such as ten times their investment in a specific time frame. This given period of time may span from a couple of years to several years. Many of these angel investors do not expect a rate of return for at least 5-7 years. Their average return on investments expected is about 34%."
Exit strategies
"This is a company’s approach for providing investors with a liquidity event, an occasion or time during the company’s development at which the investor can obtain their rate of return. The exit strategy is often included in the entrepreneur’s presentation, which should provide the best estimate of time for exit and liquidity for all potential investors. Acquisition of a company or a company merger is the most probable exit strategy made unless the company revenues and market sector strongly suggests an IPO opportunity."
Maverick Investor (pun intended) came up with an idea for investing his money. He created a site where people can post their ideas in an open forum. If he likes it he will invest in it. I would not post my concept there because I do not want it stolen. His criteria basically breaks down what our other sources indicate. I wanted to share it to show you how a potential investor may speak to you and if any of you were interested in attempting to attract Mark's interest and money.
"I will invest money in businesses presented here on this blog. No minimum, no maximum, but a very specific set of rules. Here they are:
1. It can be an existing business or a start up.
2. It can not be a business that generates any revenue from advertising. Why ? Because I want this to be a business where you sell something and get paid for it. Thats the only way to get and stay profitable in such a short period of time.
3. It MUST BE CASH FLOW BREAK EVEN within 60 days
4. It must be profitable within 90 days.
5. Funding will be on a monthly basis. If you don't make your numbers, the funding stops
6. You must demonstrate as part of your plan that you sell your product or service for more than what it costs you to produce, fully encumbered
7. Everyone must work. The organization is completely flat. There are no employees reporting to managers. There is the founder/owners and everyone else
8. You must post your business plan here, or you can post it on slideshare.com , scribd.com or google docs, all completely public for anyone to see and/or download
9. I make no promises that if your business is profitable, that I will invest more money. Once you get the initial funding you are on your own
10. I will make no promises that I will be available to offer help. If I want to, I will. If not, I won't.
11. If you do get money, it goes into a bank that I specify, and I have the ability to watch the funds flow and the opportunity to require that I cosign any outflows.
12. In your business plan , make sure to specify how much equity I will receive or how I will get a return on my money.
13. No multi-level marketing programs (added 2/10/09 1pm)
I'm sure I will come up with more rules as I see what comes along, if anything."
No matter what type of investor you seek, they are all basically looking for the same key factors in your business plan. Make sure they can easily find these key factors in your plan and dramatically increase your odds of attracting financing. There are many great ideas and businesses that go unfunded because the owners have no idea how to properly entice an investor. You may never get a meeting if they do not find the information they seek in your plan.
http://books.google.com/books/about/The_Entrepreneur_and_Small_Business_Prob.html?id=xYRX0FAFM0YC
http://www.go4funding.com/Articles/Angel-Investors/The-Essential-Components-That-Appeal-To-Angel-Investors.aspx
http://online.wsj.com/article/SB10001424052702303491304575188420191459904.html
Angel Investor Photo@ Getty Images
http://blogmaverick.com/2009/02/09/the-mark-cuban-stimulus-plan-open-source-funding/
Mark Cuban Photo@ Pulse2.com
Money Tree @ Madamenoire.com
William A. Cohen "is a Professor of Marketing, former Department Chairman, and Director of the Small Business Institute at California State University, Los Angeles. He has held various positions in industry from marketing manager for a $3 billion firm through company president and operator of his own small business." His more then 19 books have been translated into seven languages.
In his book "The Entrepreneur & Small Business Problem Solver", Mr Cohen talks about using your own money, a loan against your savings account, your life insurance, capitol equipment loans, borrowing from family and friends and many others. You must complete the Small Business Administration (SBA) Business Plan and Qualifications Resume to obtain an SBA loan. It is impossible to gain investors without a business plan. Many business owners only create a business plan after they have attempted to gain investors without one.
A summary of Cohen's writing on what investors are looking for is:
1) Describe in detail the type of business (business plan).
2) Experience and management capabilities.
3) A estimate of how much you and others have to invest in the business ("Skin in the game") and how much you will need to borrow.
4) Current financial statement balance sheet listing all personal assets and all liabilities.
5) A detailed projection of earnings for the business.
6) "List collateral to be offered as security for the loan, indicating your estimate of the present market value of each item."
7) What are you willing to pay (interest, assets, shares in business) for the loan?
8) How and when will you pay the loan back?
9) "Special Assets": Is your concept valuable and do you have any designs, copyright, intellectual property, patent rights manufacturing and processing techniques? What is the value of each?
10) How will you use the funds given to you?
11) Plan of action.
Investors want to know that your business is sound, is being operated well, has a wise plan for the money borrowed, you have the ability and plan to pay the loan back, and you are making good use of the money.
go4funding.com says that, "Often times, entrepreneurs are rejected for needed capital because their venture does not match the investor’s criteria, standards, or investment preferences. Some important fundamentals to consider when selecting an investor is the type of industry involved, the company’s stage of development, the amount of capital that needs to be raised, and the geographic location of the enterprise. Business owners can save ample time and frustration from investor rejection simply by conducting a substantial amount of research on potential investors and making sure that their company complements their investors’ requirements."
To prepare to seek angel investment consider the following:
Geography
"Most angels prefer to invest locally for a variety of reasons. First, the convenience of proximity will allow them to frequently visit the companies they have invested in, so they can regularly convene with the management team and be present to witness their investment progress. Second, being closer to their investment enables them to “source” deals through referrals whom they know and trust. In order to accomplish this, they rely greatly on other locally situated angels, accountants, attorneys, business associates, etc."
Size of the investment
"Angels are interested in building small start-up companies into moderately-sized businesses or large valuable corporations with a high ROI. These types of start-ups may require capital of tens of thousands of dollars minimum to launch, with subsequent rounds of investments throughout the company’s development."
Management team
"The management team appointed by the company’s founders must be solid, balanced, and experienced. Some businesses have management teams located in different cities and come together solely through telecommunications or videoconferencing. This kind of “scheduled” organization puts the whole team at a disadvantage because they are not physically working together or know how to properly collaborate in the business.
On the other hand, if all the individuals of a management team are situated in one location, the individuals have the opportunity to work with each other and learn from each others’ strengths and weaknesses. Even if a team has never worked with each other in the past, when they come together during the start of a company, they should demonstrate the “ability to execute,” that is, work together in harmony with a proven track record and show their company is establishing revenue and a quick ROI."
Market/industry influence
"Angel investors usually invest in industries they have experience in. In addition, they always evaluate the market’s needs for different products or services. "
Improving technology
"Technology products and services have always demonstrated popularity among consumers. Since many technologies exist, the entrepreneur should convince the angel investor that their particular technologies are not only one-of-a-kind, but that they address any flaws that their competitor’s products may have and as a result consumers will purchase their products and services."
Competitive advantage
"Every investor determines a company’s worth by trying to identify the reasons behind why customers are inclined to use their products or services. Young business owners should convey the extraordinary, distinctive qualities of their company to their investors and why their enterprise possesses a competitive edge."
Potential rate of return
"When compared to venture capitalists, monetary gain tends to be a secondary motive for most angel investors. While many angels invest for reasons that are not purely financial, their overall goal is still profitability. They recognize that start-up companies are high-risk investments and will want to justify that risk by seeking commensurate (very high) rate of returns.
For example, some angels require a 25% rate of return each year, while others may desire much more, such as ten times their investment in a specific time frame. This given period of time may span from a couple of years to several years. Many of these angel investors do not expect a rate of return for at least 5-7 years. Their average return on investments expected is about 34%."
Exit strategies
"This is a company’s approach for providing investors with a liquidity event, an occasion or time during the company’s development at which the investor can obtain their rate of return. The exit strategy is often included in the entrepreneur’s presentation, which should provide the best estimate of time for exit and liquidity for all potential investors. Acquisition of a company or a company merger is the most probable exit strategy made unless the company revenues and market sector strongly suggests an IPO opportunity."
"I will invest money in businesses presented here on this blog. No minimum, no maximum, but a very specific set of rules. Here they are:
1. It can be an existing business or a start up.
2. It can not be a business that generates any revenue from advertising. Why ? Because I want this to be a business where you sell something and get paid for it. Thats the only way to get and stay profitable in such a short period of time.
3. It MUST BE CASH FLOW BREAK EVEN within 60 days
4. It must be profitable within 90 days.
5. Funding will be on a monthly basis. If you don't make your numbers, the funding stops
6. You must demonstrate as part of your plan that you sell your product or service for more than what it costs you to produce, fully encumbered
7. Everyone must work. The organization is completely flat. There are no employees reporting to managers. There is the founder/owners and everyone else
8. You must post your business plan here, or you can post it on slideshare.com , scribd.com or google docs, all completely public for anyone to see and/or download
9. I make no promises that if your business is profitable, that I will invest more money. Once you get the initial funding you are on your own
10. I will make no promises that I will be available to offer help. If I want to, I will. If not, I won't.
11. If you do get money, it goes into a bank that I specify, and I have the ability to watch the funds flow and the opportunity to require that I cosign any outflows.
12. In your business plan , make sure to specify how much equity I will receive or how I will get a return on my money.
13. No multi-level marketing programs (added 2/10/09 1pm)
I'm sure I will come up with more rules as I see what comes along, if anything."
No matter what type of investor you seek, they are all basically looking for the same key factors in your business plan. Make sure they can easily find these key factors in your plan and dramatically increase your odds of attracting financing. There are many great ideas and businesses that go unfunded because the owners have no idea how to properly entice an investor. You may never get a meeting if they do not find the information they seek in your plan.
http://books.google.com/books/about/The_Entrepreneur_and_Small_Business_Prob.html?id=xYRX0FAFM0YC
http://www.go4funding.com/Articles/Angel-Investors/The-Essential-Components-That-Appeal-To-Angel-Investors.aspx
http://online.wsj.com/article/SB10001424052702303491304575188420191459904.html
Angel Investor Photo@ Getty Images
http://blogmaverick.com/2009/02/09/the-mark-cuban-stimulus-plan-open-source-funding/
Mark Cuban Photo@ Pulse2.com
Money Tree @ Madamenoire.com
Sunday, December 11, 2011
MAKING THE WORLD A BETTER PLACE THROUGH YOUR CAREER IN THE ENTERTAINMENT BUSINESS
The influence of music, news, film, and television on the mood and behavior of our society is enormous. Numerous studies and common sense tell us that people mimic the behavior that they see repeatedly. What they see often becomes socially acceptable behavior. Is this a good thing? Yes and no, it depends on if the underlying message of the media is positive or negative. If you are currently working in the entertainment industry or planning a career in it you must consider the effect of your creation on society as a whole. You must understand the power you posses to influence people. Media is not just "mindless", or "fun", or "doesn't influence me". People often make those statements when what they are watching or listening to is called into question. Opinions, beliefs, knowledge etc. are formed through what we read, listen to, and watch. This is true of what we see in the real world and the entertainment industry. The question you need to ask yourself is "do I desire to make the world a better or worse place by my creation?"
Authors C. Barbour, N.H. Barbour, and P.A. Scully write that "today, the visual and auditory stimuli of the new media bombard most homes and communities. Some of this exposure is educational, positive, and directed at an appropriate level for young children. A considerable amount of current fare, however, is violent in nature, is provocative, and is presented in ways unsuitable for children’s level of maturity (DeGaetano, 2005; Levin, 2005). With the rapid expansion of electronic transmission devices, young people are exposed more than ever to both good and bad influences.Producers and advertisers expand successful films and television shows by flooding sales counters with associated toys, clothing, and DVDs. Similar marketing comes from developers of video and computer games. These games influence individuals’ values, compete for children’s attention, and certainly reduce the amount of reflection and interaction time children have with both adults and peers (Singer & Singer, 2001). Although some maintain that such games are opportunities for children to “let off steam,” others insist that there are better ways of achieving this goal."
There has never been a period of history where entertainment creations were available so easily to so many. This indicates the ability to influence people has never been greater but influence them how? When I was growing up the majority of programming on television was positive in nature. Bad guys were clearly defined and negative behavior was shown to be undesirable. There was usually a positive message in the content of the programming. Time marched on and characters and messages became more blurred. Heroes on TV and in the movies today are often extremely flawed characters but are shown in the highest possible light and rarely suffer consequences for their negative actions. It is simply not a realistic portrayal. Entertainers who were adulterers, addicts, or became a criminal had their careers ended if the behavior became public knowledge. Is there any behavior that would end the career of an entertainer today? Drug use won't do it? Beating a woman will not do it? Having a criminal record is only going to increase your album sales. Where are the consequences for individuals negative behavior? What is the impact on our society when we constantly see entertainers escape serious consequences for their behavior?
What would happen if music, movies, television, and film portrayed people in better fashion and showed serious consequences for on screen drug use, criminal activity, adultery etc.? What would happen if the pernicious ladies of film and screen were constantly impacted by STD's, abusive men, and other real life consequences of living that life style? The high school girl who has grown up in a world of The Jersey Shore and pornography certainly acts differently then the generations who did not grow up watching that style of programming. The girls of The Jersey Shore often date men with rage, drug, alcohol, and other issues. The actors of the show have been richly rewarded for this negative behavior. What about all the shows where getting pregnant as as teacher leads or being a self-centered, mean-spirited, and demanding spoiled brat leads to you being featured on MTV? Check out the allegedly serious journalist of ABC News covering MTV's most watched show.
When you create a song, show, book, or movie try to influence people in a positive manner and watch how the world's issues become just a little bit smaller.
I've decided to add a song for every new blog post. Here is The Gorillaz with their version of Crystalised.
Authors C. Barbour, N.H. Barbour, and P.A. Scully write that "today, the visual and auditory stimuli of the new media bombard most homes and communities. Some of this exposure is educational, positive, and directed at an appropriate level for young children. A considerable amount of current fare, however, is violent in nature, is provocative, and is presented in ways unsuitable for children’s level of maturity (DeGaetano, 2005; Levin, 2005). With the rapid expansion of electronic transmission devices, young people are exposed more than ever to both good and bad influences.Producers and advertisers expand successful films and television shows by flooding sales counters with associated toys, clothing, and DVDs. Similar marketing comes from developers of video and computer games. These games influence individuals’ values, compete for children’s attention, and certainly reduce the amount of reflection and interaction time children have with both adults and peers (Singer & Singer, 2001). Although some maintain that such games are opportunities for children to “let off steam,” others insist that there are better ways of achieving this goal."
There has never been a period of history where entertainment creations were available so easily to so many. This indicates the ability to influence people has never been greater but influence them how? When I was growing up the majority of programming on television was positive in nature. Bad guys were clearly defined and negative behavior was shown to be undesirable. There was usually a positive message in the content of the programming. Time marched on and characters and messages became more blurred. Heroes on TV and in the movies today are often extremely flawed characters but are shown in the highest possible light and rarely suffer consequences for their negative actions. It is simply not a realistic portrayal. Entertainers who were adulterers, addicts, or became a criminal had their careers ended if the behavior became public knowledge. Is there any behavior that would end the career of an entertainer today? Drug use won't do it? Beating a woman will not do it? Having a criminal record is only going to increase your album sales. Where are the consequences for individuals negative behavior? What is the impact on our society when we constantly see entertainers escape serious consequences for their behavior?
What would happen if music, movies, television, and film portrayed people in better fashion and showed serious consequences for on screen drug use, criminal activity, adultery etc.? What would happen if the pernicious ladies of film and screen were constantly impacted by STD's, abusive men, and other real life consequences of living that life style? The high school girl who has grown up in a world of The Jersey Shore and pornography certainly acts differently then the generations who did not grow up watching that style of programming. The girls of The Jersey Shore often date men with rage, drug, alcohol, and other issues. The actors of the show have been richly rewarded for this negative behavior. What about all the shows where getting pregnant as as teacher leads or being a self-centered, mean-spirited, and demanding spoiled brat leads to you being featured on MTV? Check out the allegedly serious journalist of ABC News covering MTV's most watched show.
When you create a song, show, book, or movie try to influence people in a positive manner and watch how the world's issues become just a little bit smaller.
I've decided to add a song for every new blog post. Here is The Gorillaz with their version of Crystalised.
Monday, November 28, 2011
IS INTERNET TV NOW YOUR BEST OPTION?
All of you have probably watched a segment of or an entire episode of
one of your favorite shows on Hulu.com or the networks own web site. You
most likely have watched an on demand movie from Netflix or Blockbuster
video If you are a sports fan you have watched some of your teams
events and special coverage online. Why do you still pay for cable? Is
it the convenience, habit, or not realizing there are options?
I've been researching the best ways to reduce my cable bill without losing the programming I care most about. It is not possible to do this via the cable company. I began speaking with friends and researching my options. I watched a segment of my local news that gave tips for eliminating the monthly cable bill and saving a significant amount of money annually. The video and tips the show offered is from http://www.moneytalksnews.com/2010/06/30/you-dont-have-to-pay-for-cable-tv/.
I spend an average of $1,768.00 with my cable company. That includes high-speed Internet, multiple-levels of cable channels, NHL Center Ice, and the HBO channels. I assure you that I do not come close to watching all of the channels and 75% I never watch but I am forced to pay for them to have the channels that I do desire. I believe cable should be like a menu. You order the channels you want to watch and do not pay for the ones you have no desire to watch. Money Talks News estimates the average annual US cable bill is $900.00 (not including Internet). I obviously pay much more above the national average. My Internet is $552.00 annually, leaving my cable bill at $1,216.00. If I can save the $1,216.00 and invest it in a Roth IRA or other compound interest earning vehicle it will provide for a nice retirement. The money will be much more valuable to me during my retirement then any shows I will watch.
Money Talks News recommends starting with an antenna to get your local stations directly on your television set. This is 100% free and will provide your local news and many of your favorite shows. You even get HD programming during prime time. If you read the article above you'll find useful information concerning how to best utilize an antenna.
You can use your laptop or existing computer to accomplish this. There are instructions in the Money Talks News article. The Roku Digital player cost around $80.00-$100.00. Boxee is similar in cost and function but they will give you instructions on how to make a Boxee or install their free software to your existing computer. It will turn it into a high quality media player with an interface specially designed to show high-quality on your TV. Google TV, Sony, Logitech (highly recommended by the guys at Best Buy), Intel, Apple TV, X-Box, and Sony Play Station can also perform these functions.
You can watch most sports programs over the Internet now. You may need to pay for some. The NHL Center Ice package I get on cable is about $20.00 less on the Internet version. The NFL can be watched if you have a friend with a dish that doesn't mind giving you their mobile code. ESPN3 is growing daily and per Dan Schointuch, "provides college football, college basketball, NBA, MLB, UEFA Champions League Soccer, Masters & US Open Golf, All 4 Grand Slam tennis tournaments and more. Plus, you get a fully interactive experience with real time in-game stats, scoreboards, and live chat."
Many of the shows you watch on the premium channels (HB0, Starz,etc.) can be purchased online from Amazon or I-Tunes within days of it airing. The ones that do not will be released on DVD or be covered under your Netflix or Blockbuster membership). You can go visit a neighbor or loved one if you cannot wait.
I am certain I will soon drop my cable for one of the above options, I know most of these shows will be viewed on demand but I am trying to research the best method to record what I watch on the Internet. I encourage you to exam these options and ask yourself, "When I am 94 years old am I going to feel positive if I paid cable TV all of these years or is there a better use of my money?"
I've been researching the best ways to reduce my cable bill without losing the programming I care most about. It is not possible to do this via the cable company. I began speaking with friends and researching my options. I watched a segment of my local news that gave tips for eliminating the monthly cable bill and saving a significant amount of money annually. The video and tips the show offered is from http://www.moneytalksnews.com/2010/06/30/you-dont-have-to-pay-for-cable-tv/.
I spend an average of $1,768.00 with my cable company. That includes high-speed Internet, multiple-levels of cable channels, NHL Center Ice, and the HBO channels. I assure you that I do not come close to watching all of the channels and 75% I never watch but I am forced to pay for them to have the channels that I do desire. I believe cable should be like a menu. You order the channels you want to watch and do not pay for the ones you have no desire to watch. Money Talks News estimates the average annual US cable bill is $900.00 (not including Internet). I obviously pay much more above the national average. My Internet is $552.00 annually, leaving my cable bill at $1,216.00. If I can save the $1,216.00 and invest it in a Roth IRA or other compound interest earning vehicle it will provide for a nice retirement. The money will be much more valuable to me during my retirement then any shows I will watch.
Money Talks News recommends starting with an antenna to get your local stations directly on your television set. This is 100% free and will provide your local news and many of your favorite shows. You even get HD programming during prime time. If you read the article above you'll find useful information concerning how to best utilize an antenna.
AntennaWeb, a site provided by the Consumer Electronics Association (CEA) and the National Association of Broadcasters (NAB),
will show you exactly where to point your antenna for the best
reception at your address. It will also let you see which stations are
broadcasting over the air in your area. There may be more than you
think.
Source: Money Talks (http://s.tt/12mLO)
AntennaWeb, a site provided by the Consumer Electronics Association (CEA) and the National Association of Broadcasters (NAB),
will show you exactly where to point your antenna for the best
reception at your address. It will also let you see which stations are
broadcasting over the air in your area. There may be more than you
think.
Source: Money Talks (http://s.tt/12mLO)
AntennaWeb, a site provided by the Consumer Electronics Association (CEA) and the National Association of Broadcasters (NAB),
will show you exactly where to point your antenna for the best
reception at your address. It will also let you see which stations are
broadcasting over the air in your area. There may be more than you
think.
Source: Money Talks (http://s.tt/12mLO)
AntennaWeb, a site provided by the Consumer Electronics Association (CEA) and the National Association of Broadcasters (NAB),
will show you exactly where to point your antenna for the best
reception at your address. It will also let you see which stations are
broadcasting over the air in your area. There may be more than you
think.
Source: Money Talks (http://s.tt/12mLO)
Over
99% of U.S. TV households can receive at least one local station over
the air, while 89% can watch five or more. The picture is perfectly
clear thanks to the switch to digital TV completed on June 12, 2009.
You’ll either see a crisp, beautiful image or no image at all (static
is a thing of the past). And the best part? All your favorite
programming will still be in HD.
HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
Source: Money Talks (http://s.tt/12mLO)
Over
99% of U.S. TV households can receive at least one local station over
the air, while 89% can watch five or more. The picture is perfectly
clear thanks to the switch to digital TV completed on June 12, 2009.
You’ll either see a crisp, beautiful image or no image at all (static
is a thing of the past). And the best part? All your favorite
programming will still be in HD.
HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
Source: Money Talks (http://s.tt/12mLO)
Over
99% of U.S. TV households can receive at least one local station over
the air, while 89% can watch five or more. The picture is perfectly
clear thanks to the switch to digital TV completed on June 12, 2009.
You’ll either see a crisp, beautiful image or no image at all (static
is a thing of the past). And the best part? All your favorite
programming will still be in HD.
HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
Source: Money Talks (http://s.tt/12mLO)
Over
99% of U.S. TV households can receive at least one local station over
the air, while 89% can watch five or more. The picture is perfectly
clear thanks to the switch to digital TV completed on June 12, 2009.
You’ll either see a crisp, beautiful image or no image at all (static
is a thing of the past). And the best part? All your favorite
programming will still be in HD.
HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
Source: Money Talks (http://s.tt/12mLO)
Over
99% of U.S. TV households can receive at least one local station over
the air, while 89% can watch five or more. The picture is perfectly
clear thanks to the switch to digital TV completed on June 12, 2009.
You’ll either see a crisp, beautiful image or no image at all (static
is a thing of the past). And the best part? All your favorite
programming will still be in HD.
HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
Your
favorite shows that are not broadcast over the air for free can often
be found on the networks web site in their entirety and at zero cost. You
will need to watch a few commercials but the amount is less then you
will be forced to watch on cable. I am not suggesting you watch all your
television on your laptop. I do not want your entire family huddling
around your laptop to watch your favorite shows. There are numerous
methods to watch television over the Internet on you existing television
set. Several models of televisions now come equipped exactly for this
purpose but you do not need to run out and buy a new set (please do not
try using this article as an excuse).HDTV is more expensive for local stations to produce, so it’s common to see a station broadcast in regular standard definition during the day, but switch their signal to high definition for prime time. So while the local news may not be in HD, your favorite shows like Glee, America’s Got Talent, and The Bachelorette will be.
Source: Money Talks (http://s.tt/12mLO)
You can use your laptop or existing computer to accomplish this. There are instructions in the Money Talks News article. The Roku Digital player cost around $80.00-$100.00. Boxee is similar in cost and function but they will give you instructions on how to make a Boxee or install their free software to your existing computer. It will turn it into a high quality media player with an interface specially designed to show high-quality on your TV. Google TV, Sony, Logitech (highly recommended by the guys at Best Buy), Intel, Apple TV, X-Box, and Sony Play Station can also perform these functions.
You can watch most sports programs over the Internet now. You may need to pay for some. The NHL Center Ice package I get on cable is about $20.00 less on the Internet version. The NFL can be watched if you have a friend with a dish that doesn't mind giving you their mobile code. ESPN3 is growing daily and per Dan Schointuch, "provides college football, college basketball, NBA, MLB, UEFA Champions League Soccer, Masters & US Open Golf, All 4 Grand Slam tennis tournaments and more. Plus, you get a fully interactive experience with real time in-game stats, scoreboards, and live chat."
Many of the shows you watch on the premium channels (HB0, Starz,etc.) can be purchased online from Amazon or I-Tunes within days of it airing. The ones that do not will be released on DVD or be covered under your Netflix or Blockbuster membership). You can go visit a neighbor or loved one if you cannot wait.
Each
year ESPN3 delivers thousands of live games and events like College
Football and Basketball, NBA, MLB, UEFA Champions League Soccer, The
Masters and US Open Golf, all 4 Grand Slam tennis tournaments, and more.
Plus you get a fully interactive experience with real time in-game
stats and scoreboards and live chat.
Source: Money Talks (http://s.tt/12mLO)
Each
year ESPN3 delivers thousands of live games and events like College
Football and Basketball, NBA, MLB, UEFA Champions League Soccer, The
Masters and US Open Golf, all 4 Grand Slam tennis tournaments, and more.
Plus you get a fully interactive experience with real time in-game
stats and scoreboards and live chat.
Source: Money Talks (http://s.tt/12mLO)
I am certain I will soon drop my cable for one of the above options, I know most of these shows will be viewed on demand but I am trying to research the best method to record what I watch on the Internet. I encourage you to exam these options and ask yourself, "When I am 94 years old am I going to feel positive if I paid cable TV all of these years or is there a better use of my money?"
Sunday, November 13, 2011
Sign Only Quality!
My Father owned an apartment building when I was growing up. When he screened renters, checked their references, and selected quality people to rent to he rarely had any aggravation. He made money instead of losing money, he had little stress and the operation was enjoyable. He could focus on improving the apartments and enjoying his life. When he rented to people he was unsure of he almost always suffered negative effects and it usually cost him time and money.
I had learned from observing this over the years but I could only apply it to the part of my life that dealt with renting the extra room in my home. It took me a while to understand that selecting quality people to work with is vital to your success and happiness. The quality of your life is directly determined by who is in it! We've all heard some variation of that before right? When then do we often select poorly?
When I began my professional career I would often agree to sign any athlete, coach, or musician. Why? I am a very helpful person and I can see potential in many people. I am confident in my skills and abilities to help them, so I thought I could make them a success and benefit myself also. Was I correct? Heck ya, about once out of every 20 times I took a risk, would they have success worth of the time and energy I put into them. I would have enjoyed greater success and a lot less stress and aggravation had I bypassed some of these clients.
W.I.I.F.M. Principle (What's In It For Me), it sounds terrible right? I thought it sounded selfish when someone first explained it to me as a college student. "What a horrible way to operate in the world," I thought. It isn't a negative principle at all if applied properly, it is a very positive one. When presented with an opportunity, simply ask yourself, "is this worth it? Will the return on my involvement be positive for me? Will this create unnecessary stress and aggravation? What are the potential negatives? What are the potential liabilities to me? Can I lose money? Can my reputation be damaged?
Create a hard copy check list of what makes a client worth signing. This evaluation if done well, will save you time, energy, and money. It is tempting when business is slow or you are trying to build your client roster to sign everyone and anyone who is willing to sign with you but this is not the path to success. The path to success is to sign as many quality clients as you can. You must be able to handle the workload of all the clients you sing. When deciding to sign a new client you should ask yourself if you will need to hire additional staff to handle the workload. If the artist is a definite income earner then it is not a problem but if it is a client who may or may not make income for you is increasing your business cost a risk you are willing to take?
Here are some additional questions to answer when deciding to sign a new client:
1) Is this person a hard worker? Are they willing to do whatever it takes to succeed?
2) How close is this person to earning income for me?
3) What is the potential return-on-investment?
4) Will this client add cost?
5) How difficult or easy is this person to work with?
6) Does this person have a realistic set of expectations of themselves and what they expect from you?
7) Who does this person associate with? Is their entourage a positive or a negative?
8) Do you believe in this artist?
People are worth taking risks on, just not all of them, so choose wisely!
I had learned from observing this over the years but I could only apply it to the part of my life that dealt with renting the extra room in my home. It took me a while to understand that selecting quality people to work with is vital to your success and happiness. The quality of your life is directly determined by who is in it! We've all heard some variation of that before right? When then do we often select poorly?
When I began my professional career I would often agree to sign any athlete, coach, or musician. Why? I am a very helpful person and I can see potential in many people. I am confident in my skills and abilities to help them, so I thought I could make them a success and benefit myself also. Was I correct? Heck ya, about once out of every 20 times I took a risk, would they have success worth of the time and energy I put into them. I would have enjoyed greater success and a lot less stress and aggravation had I bypassed some of these clients.
W.I.I.F.M. Principle (What's In It For Me), it sounds terrible right? I thought it sounded selfish when someone first explained it to me as a college student. "What a horrible way to operate in the world," I thought. It isn't a negative principle at all if applied properly, it is a very positive one. When presented with an opportunity, simply ask yourself, "is this worth it? Will the return on my involvement be positive for me? Will this create unnecessary stress and aggravation? What are the potential negatives? What are the potential liabilities to me? Can I lose money? Can my reputation be damaged?
Create a hard copy check list of what makes a client worth signing. This evaluation if done well, will save you time, energy, and money. It is tempting when business is slow or you are trying to build your client roster to sign everyone and anyone who is willing to sign with you but this is not the path to success. The path to success is to sign as many quality clients as you can. You must be able to handle the workload of all the clients you sing. When deciding to sign a new client you should ask yourself if you will need to hire additional staff to handle the workload. If the artist is a definite income earner then it is not a problem but if it is a client who may or may not make income for you is increasing your business cost a risk you are willing to take?
Here are some additional questions to answer when deciding to sign a new client:
1) Is this person a hard worker? Are they willing to do whatever it takes to succeed?
2) How close is this person to earning income for me?
3) What is the potential return-on-investment?
4) Will this client add cost?
5) How difficult or easy is this person to work with?
6) Does this person have a realistic set of expectations of themselves and what they expect from you?
7) Who does this person associate with? Is their entourage a positive or a negative?
8) Do you believe in this artist?
People are worth taking risks on, just not all of them, so choose wisely!
PRESS KITS THAT MAKE AN IMPACT!
If you are going to promote a band, a business, or product you need to have a press kit that benefits and influences everyone who opens it. Here are keys to success.
Make it appealing to the eye from the first page to the last.
It is imperative to make your press kit dramatic and bold. It has to stand out from all the others! The cover should be eye catching and professional. The professionals you are sending this to need to be inspired to pick it up and read it, the first page needs to be impactful enough in its image and content to make them turn the next page and that page need to make them want to continue reading. High quality photos should be included as often as possible. If you have an artist that is less appealing to the eye substitute logos, stage shots from a distance, photos of fans reacting with enthusiasm etc..
Show how your artist or product is different from all others.
Is it the type of music they play, where they are from, their background stories, something your product does that makes it interesting and worth talking about. What can promoters use to market your band? Has your band won any awards or special recognition? Insert statistical data on album sales, radio play, tickets sold, shows played.
Make it easy for them to do their job.
Write the story for them. Make it so interesting and appealing that press, media, and promoters not only desire to do business with you but use the material that you have given them to do their job. This way you are controlling the message. They will be helping to spread the message you want out there about your product. It is vital to control the message, rather then having others do it for you. Allowing others to explain what you are about is a recipe to have your product hijacked for their cause or at the least lead to disappointment.
Give them what they need.
Provide full list of equipment needs if dealing with a musical press kit. This is an item-by-item list of every item, staff, and instrument needed for a successful show. It needs to be clear who is responsible for it, the venue or the band. Provide a stage plot. This is a detailed drawing of where every band member, their individual equipment, and monitors are to be placed on stage. Venue managers and promoters will be thrilled to find this information included in the press kit because they often have a hard time getting it from bands or never do.
The more you do their job for them the more likely they are do cooperate with you.
Provide them with every item they need from you (other then the personal rider) from the start and they will be so impressed they are more likely to want to work with you because they know you are professional. A professionally packaged press kit and artist is a rarity and one of the best ways to separate you from the pack. Will a promoter prefer to work with a professional group or one that sends bits and pieces of info and they have to chance them down for the rest?
The press kit must be kept current, available for download, and hard copy.
The press kit should be available for download on your web site. It should be available to be emailed and available by traditional mail. It is not enough to create it and not update it. The list of shows must be current, the equipment needs sometimes changes, etc. Plan to review it every month and updated as needed.
Biographies for each individual member and the story of the band.
You would be shocked how many press kits include neither. Do your best to make each story interesting. Provide threads a writer could use to create bigger stories. If playing a specific city like NY, create connections to the city. If a band member is from the city or has a memory there, if there are historic moments about the band there, or a historic venue the band is eager to play include it. A list of quotes about your band and from your band is critical. It is helpful to spread them out throughout your press kit, to help keep the interest alive. Include a page with all of the quotes.
Include high-quality photos.
These are necessary for venues and press to market, promote, and present your product in the best possible fashion.
Include high-quality MP3's or CD:
These are used to sell and promote your band. This can also be provided online or on a thumb drive or other emerging technology.
Band contact information.
Full contact information for the bands booking director, press agent, road manager and management must be accurate and included.
Copies of Articles.
Included in the digital or hard copy press kit. All positive articles that highlight why someone should work with your band should be included.
Song Page:
If well-known act or up-and-coming artist include a list of songs that are in the arsenal. It will be presented differently between known and unknown artist. If a known artist then list the songs, chart positions, lyrics or anything else that sells it. If an unknown find something interesting and include the lyrics if interesting. Descriptions of energy levels or musical styles may be helpful for an unknown artist.
Make it interesting, make it powerful, and make it your best sales tool!
Make it appealing to the eye from the first page to the last.
It is imperative to make your press kit dramatic and bold. It has to stand out from all the others! The cover should be eye catching and professional. The professionals you are sending this to need to be inspired to pick it up and read it, the first page needs to be impactful enough in its image and content to make them turn the next page and that page need to make them want to continue reading. High quality photos should be included as often as possible. If you have an artist that is less appealing to the eye substitute logos, stage shots from a distance, photos of fans reacting with enthusiasm etc..
Show how your artist or product is different from all others.
Is it the type of music they play, where they are from, their background stories, something your product does that makes it interesting and worth talking about. What can promoters use to market your band? Has your band won any awards or special recognition? Insert statistical data on album sales, radio play, tickets sold, shows played.
Make it easy for them to do their job.
Write the story for them. Make it so interesting and appealing that press, media, and promoters not only desire to do business with you but use the material that you have given them to do their job. This way you are controlling the message. They will be helping to spread the message you want out there about your product. It is vital to control the message, rather then having others do it for you. Allowing others to explain what you are about is a recipe to have your product hijacked for their cause or at the least lead to disappointment.
Give them what they need.
Provide full list of equipment needs if dealing with a musical press kit. This is an item-by-item list of every item, staff, and instrument needed for a successful show. It needs to be clear who is responsible for it, the venue or the band. Provide a stage plot. This is a detailed drawing of where every band member, their individual equipment, and monitors are to be placed on stage. Venue managers and promoters will be thrilled to find this information included in the press kit because they often have a hard time getting it from bands or never do.
The more you do their job for them the more likely they are do cooperate with you.
Provide them with every item they need from you (other then the personal rider) from the start and they will be so impressed they are more likely to want to work with you because they know you are professional. A professionally packaged press kit and artist is a rarity and one of the best ways to separate you from the pack. Will a promoter prefer to work with a professional group or one that sends bits and pieces of info and they have to chance them down for the rest?
The press kit must be kept current, available for download, and hard copy.
The press kit should be available for download on your web site. It should be available to be emailed and available by traditional mail. It is not enough to create it and not update it. The list of shows must be current, the equipment needs sometimes changes, etc. Plan to review it every month and updated as needed.
Biographies for each individual member and the story of the band.
You would be shocked how many press kits include neither. Do your best to make each story interesting. Provide threads a writer could use to create bigger stories. If playing a specific city like NY, create connections to the city. If a band member is from the city or has a memory there, if there are historic moments about the band there, or a historic venue the band is eager to play include it. A list of quotes about your band and from your band is critical. It is helpful to spread them out throughout your press kit, to help keep the interest alive. Include a page with all of the quotes.
Include high-quality photos.
These are necessary for venues and press to market, promote, and present your product in the best possible fashion.
Include high-quality MP3's or CD:
These are used to sell and promote your band. This can also be provided online or on a thumb drive or other emerging technology.
Band contact information.
Full contact information for the bands booking director, press agent, road manager and management must be accurate and included.
Copies of Articles.
Included in the digital or hard copy press kit. All positive articles that highlight why someone should work with your band should be included.
Song Page:
If well-known act or up-and-coming artist include a list of songs that are in the arsenal. It will be presented differently between known and unknown artist. If a known artist then list the songs, chart positions, lyrics or anything else that sells it. If an unknown find something interesting and include the lyrics if interesting. Descriptions of energy levels or musical styles may be helpful for an unknown artist.
Make it interesting, make it powerful, and make it your best sales tool!
Sunday, October 23, 2011
Protecting Intellectual Property, Trademarks, and Your Business
I studied three
entertainment law podcasts this week to enhance my knowledge of the
topic. When you finish reading this, I encourage you to listen to the
same podcasts to enhance your basic understanding of the subjects
discussed here. The first podcast is
session 5: "Tackling Intellectual Property Law in Cyberspace" from the
9th Annual CIPLIT Symposium. The presenters were Rose Hagan from
Google, Ann M. Bartow from The University of South Carolina, Greg
Vetter from The University of Houston and Sonia Katyal from Fordham
University.
Rose
Hagan spoke about her role at Google and defending it from lawsuits
that arise from emerging Internet related legal issues. At the time,
Google was facing 8 lawsuits and had already been involved in several
others. Individuals, companies, and trademark holders were asserting
their rights, and attempting to establish precedents for Internet law.
Google is often involved in these cases simply because it is a major
player in Internet advertising. Google sells advertising space based on
terms advertisers select by picking keywords. While Google doesn't
create the ads for advertisers, it needs to establish standards within
the emerging law and common sense. She stated that Google has no desire
to infringe on trademark owners rights because they also spend a great
deal of time and money protecting Google's rights and image. Google
has policies for keyword and advertisement text. It based these on the
countries where the ads are created and the relevant national laws
governing trademarks, intellectual property, commerce, and Internet
advertising. and ran and the laws that effect them. She cited cases
such as Tiffany v. Ebay and a case involving 1-800-Contacts. Most of
the issues she discussed involved advertisers attempting to gain unfair
advantage by manipulating Internet marketing options. If a company
used my companies keyword, property, and branding to bring customers to
their site instead of mine and to sell similar or counterfeit items,
then I would need to assert my legal rights to protect my business.
Ann
M. Bartow sounded as though she was on the verge of a breakdown as she
rapidly moved through her presentation. She stated that "Intellectual
prestige is not a trademark problem". She provided examples of
designers or companies suing others if a product looked similar to one
of their own. They may sue over a style they are using. She believes
that these styles, stitching patterns, etc. are not unique enough to be
protected and I agree. Some of her examples were of a designer suing
another over what they claimed was a similar design but really was
re-imaged by both designers from a previous designer's work. It is not
unique enough to be protected. Other designers and
companies do not want others to be selling items with common themes to
their own because they do not want their brand to be damaged because a
store that is not as elite selling it makes it less "special". This
is the "intellectual prestige" she mentioned. For "intellectual
prestige" to be proven it better be a unique and truly original
concept.
Greg
Vetter spoke about patent law. He focused his talk on software arts
and claims law. His insights into patents are interesting. It made me
realize that I'd never he happy engaged in patent work but it is
valuable information. You may be thinking, "I am not an inventor, so
why does this matter to me?" I thought the same but as he spoke I
understood. I'll never be spoken about in the same breath as Edison,
Tesla, or Ford either but some of his talk applied to my Internet-based
business. If your company creates patents for some of its concepts,
branding or materials you must have a clear and unbroken history of
ownership based on filing and maintaining proper legal documents.
The
final speaker for the podcast was Sonia Katyal. The most interesting
part of her talk was discussing intellectual property law vs. digital
technology. She believes that freedom of speech, public domain, and
digital technology moves fast enough that it changes the facts on the
ground. I disliked her talk; she seems to relish the idea of destroying
copyright owners rights. She believes testing these laws and
destroying or minimizing the rights of property holders is a good
thing. She seems to have a love for outlaws, activists, and criminals.
While Napster and similar sites helped to popularize the online music
distribution market eventually became a benefit to the consumer, the
right holders, and the companies who invested in the creation of the
work, what she endorses hurts all. She wants to dance around in the
shadows that the corrupt and criminals use to justify their unethical
actions. Sonia Katyal should understand that if people like her and the
Internet outlaws she attempts to glorify continue to steal and devalue
the creations of others and profit can no longer be made then the
creators will simply stop creating new work until certain that their
rights are protected. The protection that people like Sonia Katyal
attempt to provide to the outlaws makes the world a less safe, less
fair, less positive, and less ethical place. These outlaws makes the
world a worse place. I wonder if she found herself isolated with
outlaws in the real world instead of in the safety of academia if she
would still attempt to lionize them? I doubt it but she would probably
then attempt to justify their behavior by explaining how society turned
them into outlaws rather then understanding that individuals are
responsible for their own behavior and to follow the laws of society
instead of attempting to break them.
The second podcast
deals in Trademark Protections. The first presenter was Marc
Trachtenberg. His presentation was entitled "Protecting Your Marks In
and From the New Top Level Domains". The panel discussed the Internet
being the gateway to billions of people who go online to purchase
products via mobile devices or computers. This is why protecting your
marks is vital because selling online may be a companies main or only
source of revenue. His talk mentioned activities such as cybersquatting
and typosquatting. Cybersquatting is the illegal practice of
registering potential domain names before the proper rights owner can
and attempting to force the company who wishes to register the name to
pay for the right to do so. The case of Panavision v. Dennis Toeppen is
one of the most famous cybersquatting cases. Typosquatting is when
someone registers and operates a name very similar to a registered
domain name in an attempt to trick Internet users to visiting their
sites by mistake. They will add an extra letter and make the sites look
similar. An example of this is Bank of America's web site is
www.bankofamerica.com. A typosquatter would register it as something
like, www.banksofamerica.com. How many of you would easily pick up on
the difference after having done a keyword search the typosquatters site
came up first in the search and then led you to a site that looks
exactly like the Bank of America site? They may steal your banking
information, money, address book, place spyware, malware, and worse on
your computer.
Can
your business survive the credibility hit if someone did this to your
business and your customers were tricked into visiting a mirror site
that damaged them? The podcast made it clear that you need to register
your domain on as many of the web domains as possible. There are two
categories the generic TLDs (.com, .org, etc.) and country-specific
TLDs (.us, .uk, .asia, .ca, etc.) and it can be expensive to register
with all of them. It is best to register your mark with as many as you
can even if you never attend to use them but the annual fee's can be
prohibitive. It is less expensive to be proactive then reactive because
brand abusing is growing at least 28% per year according to the
presenters data. Marc Tractenberg states that, "With evolving law and
technology you can never plan for every eventuality." He advises to
select a distinct domain name to protect the company and save money in
advertising. If you pick a domain name that is common you will spend
too much in advertising fees directing users to your site.
They
discussed the IP Clearing House and met with concerns of the audience.
It is viewed as a tool to reduce the cost and administrative burden on
mark owners.
The third podcast is "IT/Contractual Aspects of New Top Level Domains."
It is related to the previous podcast that I discussed. The
commentators wisely point out that the policies, registrations, and
procedures are geared more towards good people, who act in good faith.
They are classified as "Good Actors". The governments, companies, and
others who govern the Internet believed that everyone would obey the law
on the Internet. What law? Which countries law? With what authority
could they be penalized and is there a penalty? There was not much law
and it is foolish to expect all people to act ethically without
potential enforceable consequences. The panel called these people "Bad
players". A consumer must be able to trust a companies web site and
overall web presence. This podcast spent time speaking about how to set
up a more significant governing body to eliminate the most severe
Internet liability and criminal issues. These issues can destroy a
business.
The three podcast reinforce common sense business practices that existed even before the Internet:
1)
Do everything legally possible to protect your business from the
start. This includes filing all proper copyright and trademark
registrations, filing proper paperwork with all relevant governing
bodies and verifying that you have eliminated potential liabilities. It
is always less expensive to protect yourself proactively then it is to
fight legal battles to regain your rights. The legal fee's or issue
created by a attack on or loss of rights can destroy a company.
2)
Develop a strong and adaptable business plan. Technology and the laws
that govern it are changing rapidly. A significant source of revenue
for your company can disappear quickly but a new one may likely replace
it, be wise enough to see these happening and position your company to
thrive during the transition.
3)
Your clients must be able to trust you! If they don't trust you on the
Internet they will not be spending their money on your site. Your
information needs to be accurate and your web sites must be secure,
especially if accepting payments.
4)
If you are unwilling to stay current on the laws that impact your
business then it is vital to hire qualified counsel who is and annually
reviews your business. A change in a law can hurt your business but it
may provide increased opportunities. You need to be aware of both to
maximize your companies position in the marketplace. It is best if you
are remaining current on the law because it is less expensive and even
the best lawyer will not know as much about your business as you do.
5)
Constantly look for new opportunity. Opportunity may exist in your
greatest failures. Almost always in life and business you can create
opportunity if you are adaptable, creative, understand people's needs
and desires, and are willing to do the work necessary to ensure
success.
Copyright for Photo1 belongs to @britannica.com
Copyright for Photo2 belongs to @lasvegasnevadadui.com
Copyright for Photo3 belongs to @forbes.com
Feel free to insert your favorite "clean" lawyer jokes in the comment section.
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