I’ve recently had the opportunity to be a stage manager for
a concert held in Orlando, Florida with a well-known artist (in which his name
should will be unknown for protection purposes). The pre- production process was successful. I had constant communication with the
visionary, constructed meetings with the technician director to ensure backline
material are in place, organized and scheduled sound check for the artist and
band, etc.
You would think from my proper planning that the concert
would be a success. The excruciating
disappointment in finding out that the concert was cancelled, raises the
question of, what went wrong? What people don’t know is that an investor funded
the concert. To gain the trust of an investor you must provide systemic budget
plan that realistic and measurable. This
is essential to ensure the funds of the project or business is being spent
wisely.
Investors don’t care about what you’ve done in the
past. They want to know how you’re going
to benefit them and ensure a great level of ROI (Return On Investment). This is why you MUST organize a strategic and
functional plan to ensure that funds are being spent correctly. It’s the responsibility of the manager or
visionary to convert the functional plan into an overall budget and comment to
that budget (Adelman, 2009).
In the entertainment business, things are bound to go
wrong. However, being able to make quick
decisions is essential in providing great quality service and entertainment for
the client and consumer. With the
example of the concert, maybe the investor didn’t agree on how the funds were
being spent and decided to resign.
Investors are considered as partial owners of the business and have all
rights to change and manage the project.
The lesson from this concert is to make sure you properly plan and
provide documentation to tangibly maintain the progress of the project. Because if the investor is not happy, he/she
will show it through action.
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