ncf 2011 viable business
DESCRIPTION
Presentation to artists about how to develop sustainable ventures. A segment in a series.TRANSCRIPT
Determining the viability
of your creative
enterprise
Professionalizing the Creative Sector
What is my art?
Regardless of which art form your
represent, you may be: Undercapitalized
Unknown outside your immediate circle of influence
Only experiencing active income
Experiencing false glimmers of hope
Asked to deal with business forms and formats you have no interests in
Benefiting the least from the protection you have
Undercapitalized
Where can you find money/time?
◦ Family and Friends
◦ Commercial banks
◦ Investors
◦ Funding agencies e.g. Fund Access, EGFL ,
BYBT, CFSC
◦ Grant funding – BIDC, Invest Barbados, NCF
(Technical Assistance Programs)
Unknown outside your immediate circle of
influence
Learn to network
You can connect to others via those
whom you already know
Anyone you need to meet is just a few
introductions away
◦ www.plaxo.com
◦ www.linkedin.com
◦ www.facebook.com
Only experiencing active income?
Within a short while you will learn about
intellectual property
Benefits of having IP protection
Benefits of developing systems
Asked to deal with business forms and formats
you have no interests in
Identify key people who are excellent at
the areas you would rather not handle
They should be making / saving you
money through their efforts
Ask for testimonials
Have confidentiality agreements
Can I make Money in art?
Can you handle the criticism?
Reasons small
businesses fail
Overexpansion
Poor capital structure
Overspending
Lack of reserve funds
Bad business location
Poor execution and internal
controls
Inadequate business plan
Failure to change with
times
Ineffective marketing and self promotion
Underestimating the competition
Some considerations
CAIPO – Corporate Affairs and
Intellectual Property Office
BREAK
Welcome Back
Organization(s)
Operations Finance Marketing
Marketing Delivery
Systems Management
Inputs
• Labour
• Capital
• Management
Process
• Productivity increase depends on mix of inputs
Outputs
• Goods & Services
Operations Management
Competitive Advantage
Supply Chain,
Inventory, Scheduling,
Maintenance
Location, Layout, Human
Resources
Product, Quality, Process
Activity
Divide into Groups
Discuss and decide on the businesses you are
establishing
Record your thoughts for making your businesses
sustainable
Sample Presentations
from Group Activity
Contact Details:
Blades & Blades Consultancy Services
T. 246.420.4826
W. www.bladesandbladesconsultancy.com
Twitter: http://twitter.com/richieb93
LinkedIn: http://www.linkedin.com/in/richieb
Thank you!