In the last post, we discussed business plans and how they may be beneficial to the success of your business endeavors. I presented two separate ideals about business plans. First, Dr. Stephen Gedeon fervently believed in the necessity of a thorough and accurate business plan. On the other hand, we discussed how Chuck Blakeman believed that a business does not need to have a business plan in order to be successful.
After analyzing both approaches, I believe that it depends on what type of business you are opening regarding which business strategy would be best. In my opinion, in the entertainment industry, a balance between the both ideologies would be best.
I intend to utilize tactics from both Gedeon and Blakeman in the business strategy for Power Move Management. Biblical principle teaches us to “write the vision, and make it plain.” (Habakkuk 2:2). So, it is important to outline your business plans with some level of detail. Without an idea, also considered a vision, and the business acumen to write down your plans for effectiveness, a business cannot truly be on the right path to overall success. Now, how specific you need to be in writing out these plans leans more on Blakeman’s philosophy, who states that people should not spend time with cumbersome details of a business plan and more time with practical application and actual work experience.
Now, with this in mind, I have made a point to focus on what I believe is the strength of Power Move Management, which is fulfilling the niche for the need of industry-standard marketing and promotions tactics in the Gospel music industry. Within our business plan, the company strengths and strategic position are the most important sections. It showcases how our business offers a much-needed service in the entertainment industry.