Musicians/Artists: June 2012

Sunday, June 24, 2012

New Business Plan

I identify my business plan with Kevin O’leary because like him and many other successful entrepreneurs, we have great ideas, but a low income to execute them. With this said, my company is a low cost idea to start, and at the same time is executable. As a new businessman, I must work harder in order to set the goals and analyze the results. In order to become successful hard work is necessary. Effort and predisposition to work hard are the factors that will embark the company into a positive start. I’ve learned that it is key to look and search for safe methods to expand the company.

Another method that I’ve learned comes from Barbara Concoran’s business plan. First, she started her company with a low budget, and after some time she sold for $66 million. Both of these methods, O’Leary and Concoran’s, are extremely useful because they will help evaluate the company’s performance. It is important for me, the future CEO of my company, to be able to determine what direction the business takes, as well as the risks and opportunities. I agree with Barbara Concoran in that branding is one of the most important aspects to be considered in a business. When looking at my company’s plan, I see a lot of opportunities in the growing of the brand, getting strength, which will open chances for investments and sponsors.

These two leading business-entrepreneurs are very successful and many people highly look up to them. They have become an extraordinary example to follow when it comes to developing a new business. One of the phrases that Concoran said talks about the importance of not being afraid of taking risks. Fear of growing will inhibit the opportunity to succeed. While some methods work for some people and others rather use different ones, at the end, the person must be willing to take chances and risks. Keeping an open mind will make successful entrepreneurs.

Alex Kenjeev, President, O’Leary Ventures. http://www.tumblr.com/tagged/kevin-o'leary

ABC Network: Kevin O’Leary. < http://abc.go.com/shows/shark-tank/bio/kevin-oleary/276282>

Barbara Corcoran Inc. 2012. < http://barbaracorcoran.com/>

Dan Bischoff, 2011. Lendio; Interview with a shark: Barbara Concoran. < http://www.lendio.com/author/dan>

Sunday, June 3, 2012

Kevin O’Leary and Barbara Concoran: best known from ABC’s TV show “Shark Tank”

Kevin O’Leary is a successful businessman who is currently the chairman of his company name: O’Leary’s Funds. He started his career in the same way many successful businessmen do: a great idea and zero cash. He launched his first business Soft key Software Products, managed from his basement. With time, he ended buying almost all of his competitors, making his company valuable for 3.7 billion dollars to Mattel Toy Company (ABC Network).

The key factor that makes O’Leary’s Funds so successful is its limits to risky bets. Their focus is on value and in capital preservations. One of the things Kevin O’Leary and his company’s methods to analyze of tan investment is worthy consists in determine how global the idea is (Alex Kenjeev, President, O’Leary Ventures). O’Leary’s company looks always to make deal in both sides of the frontier; this means that there are looking principally for safe methods to expand.

In the case of Barbara Concoran, she started her company The Concoran Group when she was 23 thanks to a loan of 1000$. In 2001 she sold her company for 66 million, and nowadays, she is considered one of the most successful entrepreneurs in the country (official website: barbarocorcoran.com). She currently owns 11 new businesses on the top of being an investor of the TV shoe Shark Tank (already in its third season).

Some of the factors she thinks are key for the success of a business and a business plan is the correct branding. Branding is vital to a business because it will affect in how the business is perceived and how many investors decide to support the project: “The right branding is the 75 percent of it;” she said in an interview with 2012 Lendio. Another important aspect to take in consideration is mentality. Concoran talks even in her books about the necessity of being positive and overcome negative views. She believes the key to success is not being afraid of risks; one of the ideas will always bring you money (Lendio 2012).