Expert Views on Business Plans (Part II)

Irving Azoff and Michael Rapino are today's leaders in the live events industry. Together, they have managed to globalize Live Nation Entertainment into the largest concert and event company in the world. Their operations take place in over twenty-six countries around the world, more than $4 billion in revenue and are known for having a formidable list of artist under their belt. After reviewing their perspectives on business plans, it is clear that it is important to make sure all aspects (marketing, financials, operations etc.) need to be in order. As the soon to be owner of a live entertainment company, I have looked at my business plan in its current state and made sure that I have all the appropriate licenses and permits to be able to host concerts and events in India. 

Live Nation depend on marketing to let people know about their concerts that are coming up. They use many distributions channels such as social media, since a majority of people use this to keep in touch and spread news. I have made sure to include this channel in my business plan, as it will be important to inform people about my upcoming shows. Live Nation has a large list of artist under their belt and have done their best to keep them happy. Since hosting concerts and events can be expensive, I have made sure to look at outsourcing (merchandise, application design etc.) to avoid any unnecessary costs. The sectors of my business plan that I find important to the investors reading it are the marketing and financials. Investors would be interested to know wether they will make any return and if a market actually exists. I am confident enough to stand in front of investors and explain why business is worth investing in.  

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http://upandrunning.bplans.com/2011/10/03/what-makes-a-successful-business-plan/