Peter Spellman and Tim Berry

As I was researching different writers, I came across Peter Spellman and Tim Berry. Peter Spellman is an author and director of Career Development at Berklee College of Music. Back in 2000, he wrote The Self-Promoting Musician: Strategies for Independent Music Success. The Musician's Internet: Online Strategies for Success in the Music Industry in 2002. Peter Spellman also wrote other business development books. Music entrepreneurs use these guides to help them in the music industry.  Due to his successful writing, he has been a guest speaker at many schools and made different appearances on publications.  Peter Spellman wrote an amazing article on the music business plan. He says, “A music business plan is the map to the fulfillment of your goals”. (Spellman, 2003) There are many benefits when it comes to writing a music business plan. Peter suggested that key components that investors are looking for in a plan include:

·      Description of your company & product/service

·      Cash flow projection

·      Analysis of your company (strengths, weakness, opportunities & threats)

·      How you plan to market the product/service

These are considered key because it’s a big part of my business plan. For my business plan, I’m considering Description of your company & product/service. Without those, investors wouldn’t able to grasp my basic ideas of my business plan.

Tim Berry is an author, entrepreneur, investor and business planner.  He founded Bplans.com, co-founded HavePresence.com and judge for international business competitions. He also wrote an informative article and published on Entrepreneur

Press. In his article, Tim Berry mentioned that all investors are not the same. Some work in a large firm, small firms or private investors. A business plan really helps the entrepreneur get started on their business. Peter suggested that key components that investors are looking for in a plan includes:

·      Management team with track records

·      Clear statement of the investment offering

·      Clear exit strategy

·      Summary/conclusion

These are considered key because this helps the investor understand the business plan.  For my business plan I’m considering summary/conclusion because it sums it the business plan in a whole.

Spellman, P. (2003). Writing a music business plan that works . Retrieved from http://www.mbsolutions.com/articles/writing_music_business_plan.html

Spellman, P. (2003). About us. Retrieved from http://www.mbsolutions.com/about/bio.html

Tim Berry. (2015). what investors look for in a plan . Retrieved from http://www.entrepreneur.com/article.79834

Tim Berry. (2015). Tim berry. Retrieved from

 http://www.entrepreneur.com/author/timberry