A Name That Rings Bells

Whether you know his track record or not, you have heard this name before.... Sean "Diddy" Combs. His journey has been a long one but yet a successful one at the same time. Since day one he's been focused on his goals. You don't even have to know him personally to know that he's a focused individual and he's business savvy. He believes that in business you should take risks because in certain situations if you wait to get all the information an opportunity can pass you by. In his interview with Bashir from ABC News, he mentioned that he would market anything that's organic to him. Combs has managed, put out albums, had a few reality shows, restaurants, a clothing line, vodka and a fragrance line. He's an all round entrepreneur. His signature quote is "I thought I told that we won't stop". Sean Combs literally means that and lives that. I almost forgot to mention that he's been in a couple plays and on the movie scene as well. I would want to intern for him because despite his ups and downs he's a great example of a businessman. He has experience in almost every aspect of the entertainment industry. He was named one of the richest people under 40 in 2002. The business ventures don't stop there. He's working on a cable channel too. Forbes mentions, "that he's the closest to becoming a billionaire". His success shows that. Some people that have worked with or for Combs say that he's "cut throat". I think that when it comes to business, you have to do what’s right so you can flourish. If he made every decision based off emotion or what others may think, he might not have been as successful as he is now. I have respect for him as a businessman. The company I'm starting is dealing with artist management and recording so his journey always been of interest to me. So far I've learned that Sean Combs isn't a limited businessman. He not only took risks but he makes sure his investments benefit his brand and that he makes profit from it.

References:

http://www.youtube.com/watch?v=vfrxxacWzzE

http://www.forbes.com/pictures/eeel45igfm/1-sean-diddy-combs-550-million/

 http://www.evancarmichael.com/Famous-Entrepreneurs/622/Bad-Boy-on-the-Rise-Sean-Combs-Makes-His-Mark.html

How Important is the RIAA?

The RIAA also known as Recording Industry Association of America is a trade organization. They support and promote the creative and financial vitality of major labels. members create, manufacture and/or distribute about 85% of all recorded music and sold in the U.S. The RIAA works to protect the intellectual property and First Amendment Rights of labels and artists. They also conduct consumer, industry and technical research. This association stays on top of regulations and policies. RIAA are the ones that certifies albums gold, platinum and multi-platinum.

RIAA has some technical standards that I believe are good and are definitely in the best interest of the artist.To name a couple would be watermark payload specification and Global Release Identifier. They also have this service called SDMI which stands for Secure Digital Music Initiative. One of the things this service do it enables copyright protection on artists' work. I believe that this organization could affect the industry in a positive way. They try their best on their end to uphold their mission for labels and artists. Now they been dealing with piracy for a long time but slowly they are putting it to an end. Nothing happens over night but they are finding ways to shut down these file sharing websites. In my case I'd like to create a company where I'm dealing with artists so I'm all for what they are doing. There's always room for ideas to make things even better. Its important to have this association in our corner as far as the music industry is concerned because they protect our rights and creativity.If they weren't around we would have a worse problem with piracy. Not only that but people in the industry be able to get away with anything. The music industry wouldn't have made it this far if it wasn't for the RIAA so I'm one out of millions that is grateful for what they do.


http://www.riaa.com/index.php

Leaders Inspiring Action

I just finished watching a video by Simon Sinek from TED.com. He talked about how great leaders inspire action. He believed in a simple method called The Golden Circle. Sinek's speech helped me get a better understanding of the topic.He broke down how business basically sell their product and used Apple as an example. Apple is regular computer company but what makes them stand out? Sinek figured out that when it comes to the Golden Circle, Jobs started from the inside circle which represents "why" and worked his way out. I found it to be inspiring and informative. Sinek made it clear that this wasn't just his opinion but how the brain work as well.I found him to be inspiring because in my opinion he was thinking outside the box and that is what is needed to start a business. His speeches was clear and to the point. I didn't find nothing confusing about it. I would listen to more of his speeches as resourceful information that i could possibly use in the future. Sinek says,"People buy why you do it". In other words he saying that more people will buy your product because of why you are doing it,not what your selling. People are more interested in your belief or passion for doing something. That is what will attract customers.

Mr. Simon Sinek is a confident and enthusiastic speaker. His speech had me intrigued. Sinek was able to get his point across without losing anyone's attention. I found him to be very knowledgeable. The goal is not to sell to people who need what you have. But to sell to people who believe what you believe. He used good examples of Langley, Wright Brothers, and Martin Luther King. If you talk about what you believe,you will attract those who believe what you believe.


Link to video: http://www.youtube.com/watch?v=qp0HIF3SfI4