Based on Ms. Cockerton’s advice, changes to the company business plan include taking the expert’s words about defining the target market to heart, and further defining my business plan. In an effort to directly target a unique niche market that is growing by leaps and bounds, the LGBT community, the marketing and staffing requirements also change. This community needs more audio and event companies that will provide superior service that at it’s core, addresses the specific social needs of their events. Cockerton’s advice to make sure that the team is talented, while already implemented must now be re-defined to include the needs of this new niche market that the company is leaning towards.
In order to ensure the best place fit for an LGBT event, our crew must be as dedicated to filling their roles not only as our employees but also as part of a company that fully supports the community. Based in the southeast, that need is further exacerbated by its location making complete background and security checks necessary prior to a new crewmember joining this special team. This not only ensures the safety and comfort of our clients and artists but also prevents the reputation of the company and it’s officers from suffering any damage of an event not handled well.
According to both Cockerton and the second expert chosen, David McShea, the most first and most important thing that investors will be looking for is how the company will make money, and how fast they will see a return on their investment. At the heart of investing is the desire on the investor’s part to make money, not to provide charity. In order to garner a first glance from the right people, it is most important to highlight thoroughly and clearly how the company will make money, along with proper growth calculations of the first three years of operation. The other important things investors will look for is professionalism, realistic planning, and well-considered financials (Cockerton). All of these elements must be in place in order to inspire confidence when seeking any type of financial help for a new venture.