In the fifth month, I
begin taking the course “Entertainment Business Finance,” which prepared me in
full for the financial aspect of my business. The course description includes
learning financial principals, such as acquiring the correct amount of funds to
start a business, making educated financial decisions towards one’s business,
and being able to correctly read and complete income statements for a business.
The assignments that were offered contained hypothetical companies that needed
business and financial advice, in which my duty was to correctly assert the
correct path for them to go towards. These activities really helped me to
explore not only the option of running my business, but explore the option of
managing an artist or group. When it comes to running a business, I learned
from this course that there are many components involved with maintaining a
stable business. The financial aspect of a business is very crucial in
determining the overall success and decline of a business, based on the
management of money. Another beneficial component that I learned of was crowd
funding, which is one of the most popular ways for a business to raise money
today. The assignment associated with crowd funding really demonstrated the
importance of acquiring supporters for one’s business. The course led me to
contemplate how I will raise money for my own company in the future.
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