Elegant Celebrity

entrepreneurship is a brave leap into the unknown, but with the right preparation, skills, and attitude, you can improve your chances for success.  that was some of the wisdom shared by entrepreneurs at ucla's entrepreneurs conference.  the event is produced annually by students from the ucla anderson school of management, and this year’s theme was "it's the journey."

most entrepreneurs agree, before you launch into the unknown, be prepared.  plan your journey.  be familiar with accounting, negotiation, strategy, and business law.  know your market cycle, and know how to manage your downside.  ask yourself questions like these:  

  do i have a high tolerance for risk?

  do i have access to capital?  

  do i have my own personal cash reserves to sustain myself?

set your expectations correctly, and have conviction.  you will hear a lot of no's.

now for the hard part.  don't over-analyze your plan.  figure out where you want to go.  launch.  then figure out how to get there.

some things to remember while you are on your journey.

integrity is vital.  many entrepreneurs agree your most valuable asset is your name.  be honest with yourself and others.  even if you lose money on a deal, your investors may still stick with you because they know you are honest, and did everything you could to insure success.

networking is vital.  be charitable.  people are willing to help you, and people appreciate your help, too.

don't try to steal deals.  focus on making good deals.  imost entrepreneurs emphasized not biting off more than you can chew.  it's ok to start out slow.  go for singles and doubles.  how do you avoid a value-trap?  trust your instincts & do what feels right.

one tip:  make money every day, even if it’s under $100.  the key to a successful journey is to manage your downside & the upside will take care of itself.

the above suggestions are only a part of the wisdom shared at the ucla entrepreneurs conference, which is produced annually by students from the ucla anderson school of management.  the students do an excellent job of assembing entrepreneurs who are knowledgeable and approachable.  it's a must-do event if you are a new entrepreneur or are considering life as an entrepreneur.

the economy has been rough on america and britian.  even the entertainment industry has suffered.  during the 2011 britweek film & tv summit, industry insiders talked about the downturn, and some lessons learned.  the event was produced by variety and the british academy of film and television los angeles.

broadcast and cable networks are projecting better revenues for 2011.  the movie business is getting better, too, especially in terms of raising equity for films.  movie distribution is still challenging, however, according to celine rattray, producer of the kids are all right.

there are upsides to the downturn:

• fewer shows get made, so the market is unsaturated;
• budget constraints lead to creative problem-solving, and oftentimes, better movies.

one creative solution is brand integration.  brands are looking for more efficient ways to reach an engaged audience, and the traditional 30-second spot is less engaging than the content it sits against, according to brett lyons of match entertainment.  it’s a safe way to engage viewers, according to phil ashcroft of island nation media.   one creative use of brand integration is to offer it for free as a way of strengthening a relationship with a brand.

variety is hosting several exciting events this summer that will be attended by many industry insiders. take your pick from a great line-up.

2nd annual international film finance forum - cannes

film finance forum @ screensingapore - singapore

3d entertainment summit™ - new york

ny mobile entertainment summit™ - new york

film finance forum moscow

during the 2011 la games conference, industry insiders mapped out the road ahead for online games.

most insiders agree free-to-play is here to stay.  the best way to monetize your content is with micro-transactions and subscriptions. advertising and brand integration will also impact the bottom line.

you can’t count your dollars for games sold, so measure the time users spend playing, and their engagement. that should give you an idea of how much to charge for your revenue channels.

to market your games, focus on a niche, and entice users to share the game with their friends.  most online gamers are males 13 to 32 and females 25 to 54.

here’s a twist on a great niche:  women like to kill things.  they like to blow things up.  they like to race.  nanea reeves of gaika suggested women aren’t all about bows and barbies.  watch for game developers to focus on the market.

watch for these other game-changers, too.  more people like high school kids in their garages will build more games, and consoles will be replaced by your smartpone of your ipad. 

the event was hosted by digital media wire at the sls hotel in beverly hills.  digital media wire is led by ned and tinzar sherman, and they always produce great industry events.  subscribe to their daily newsletter to learn more.