ENTERTAINMENT BUSINESS FINANCE

To be transparent this course was not only the most difficult I have taken thus far but probably the most difficult thing about the entertainment industry. Growing up, entertainment was leisure and often viewed as non-essential. With my family it was typically a reward, if I spent enough time reading for the night, then I could watch wrestling or as a student If the class did well we could watch a movie. As I’ve grown and learned to view the world different I learned that entertainment is a resource and during this pandemic, I see that it is a need and no longer the want I thought it was. Television, film, and live productions can be used to entertain as well as educate. Outside of learning about the business of finance and helped me to further cement the importance of my business. More than my niche, I am able to better understand how to communicate the necessity of my business for purposes of obtaining both clients and funding. I will be going into television, movie and podcast production. Why my company, Scarab Creative will be important is to creatives of the Midwest to not only bring their projects to life but be a hub for these creatives to develop the skills to be able to better communicate with their audiences. This will be with those looking to simply entertain and those who are looking to educate by working with political and social action organization as well as they have the need for specialists to come in and work on different campaigns to reach the community.

I used to think of the finance of business as the x and o’s of business and this class proved that to be true, as the understand of costs and revenue is a balance need to ensure your business survives in the day to day.  This proved to be true, having the opportunity to work with the time value of money, break evens and investment were key because as a new business owner I need to be prepared for handling the economics of business as I scale the company. Getting an understanding of the day to day operations and how the success with the financials can create the opportunity to be a publicly traded company and learning the process was very helpful. Shows the importance of building relationships throughout the life span of the company to ensure proper funding. The one thing I would’ve like to explore more in this course would’ve been the LLC, incorporation process and need for an EIN as that is one of the first steps taken in the infancy of the company. While I was exposed to the process in some of my research, it would be nice to hear more perspective on those ideas. I am thankful to have completed this course and look forward to using the tools afforded to me to be able to really prepare my business to be successful.