How A Business Mind Can Help You In The Entertainment Industry

mba in entertainment industryMany people would not associate a business mind with a creative industry such as entertainment. But when you really think about it, the sheer amount of money and assets in such an industry requires a whole load of people with business minds.

From the financial departments of huge production companies, to the creative music-lovers who want to get their sound out there, business acumen is useful across the board.

Here are just a few ways that you’ve got an edge if you’re business-minded in the entertainment industry.

You Are A Brand

Ultimately, when you’re trying to make it in Hollywood, on the stage, or even on the radio, you’re a brand.

Everything from how you look to how you behave in public is part of that brand. You must be able to market yourself. You have to be able to take a step back, understand what it is that producers, directors, and talent scouts are looking for, and market your brand appropriately.

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To some people, that comes very naturally, whereas others will look to agents for help. Being able to look at yourself and the market objectively, and understand how you fit into the market in order to be able to push yourself forward, can be a very difficult thing.

But if you have the skills, you’re automatically ahead of the game.

Your Finances are Complex

When you’re working in the entertainment industry, make no mistake that your finances aren’t as simple as a monthly paycheck.

This uneven cash flow can give you a headache, and until you’re certain you can afford an accountant, you’re going to have to struggle through it on your own. If you’re business and financially minded, it’s a whole lot easier to understand. Many people find it useful to study on an online MBA program before they enter into the industry.

Not only does this help with the business and marketing side of entertainment, but it gives people far more confidence when it comes to dealing with themselves as a brand, including their finances.

You Understand What People are Looking For

One of the keys to success is knowing how you fit into the current scene. A person with business acumen will be able to look at the industry and see the niches that need filling, but they’re also, usually, great with people.

This means that they have the ability to work out what is required, whether it be financially or in people-power, by listening and observing, then making judgments. This makes you a valuable addition to any team, whether it’s as an entertainer, in production, or in management.

The entertainment industry isn’t just full of performers and creators; there is plenty of room in there for someone with a great business mind.

You might be both of these things, in which case you’ll be brilliant at building your brand, marketing yourself, and looking after your finances. Otherwise, you’ll be a valuable member of any team within the industry. If you’re a lover of anything financial or business related, this could be the industry for you.

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About Brian Clapp

Brian Clapp has worked in the broadcast media for over 14 years as a writer, editor, producer & news director. After beginning his career in Atlanta at CNN/Sports Illustrated, he switched coasts to Seattle to work at Fox Sports Northwest. In 2010, Brian began pursuing a new found passion on the digital media side, launching a successful website and then taking on the role of Director of Content for WorkinSports.com & WorkinEntertainment.com.

Recently Brian has become addicted to Google+ and LinkedIn so add him to your circles and make him a contact. No seriously, you should.

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