Every Monday at Noon ET on my Facebook and Twitter accounts I host a chat called Money Making Conversations. My followers have the opportunity to send me questions about how to succeed in business and take their companies and careers to the next level. If you want to join me next week, just use the hashtag #AskMMC.
For those who are unable to attend live every week, I will begin archiving some of the conversations here on LinkedIn. My hope is that you will be able to use some of the advice in your own life. I look forward to your success!
I have worked in Fundraising for a University in Houston, TX for 1.5 years. I like my work but I feel like I could be doing more outside of this and fundraising as a consultant or something higher. I am fairly young still at 31 and I am getting connected with the movers and shakers in the city. I say all that to ask, how does one set themselves up to move from working for someone to being their own boss when moving to a new area and still not have all the foundation laid? Is there a solid timeline where one can check things off? – Edward
Edward,
You are trying to transition your career, so be prepared for a drop in revenue! Also, realize that you are always busy when you have something going on. Before the transition, please make sure you have developed solid financial relationships before you leap.
Also, make the career move in September, because you are dealing with fundraising. Companies have a budget in the fall. If you do it any time of the year outside of the fall you will be struggling. I look forward to your success!
If you came up with a new show that you think has great licensing and merchandising potential, how would you handle the licensing and merchandising rights knowing that the television market changes year-to-year season? Would you request a larger amount up front in case the show doesn’t succeed long term or would you negotiate a percentage over a longer term hoping the show has a long lifespan or are there other options for those rights? – Dale
Dale,
If you are new in the business and you have leverage then you can request more. Don’t pin your hopes on merchandise though. Get the show on the air first and then turn it into a hit.
You can also up your percentage based on the success of the show. The higher the ratings the higher your percentage for the merchandise split.
I was a little nervous today because I found out a former coworker is looking into doing the same business as mine. She lives in the same area as me and we were very competitive towards each other when we worked together. We are actually a lot alike and very driven… I’ve always been competitive so I’m sure I will be fine but I’m just wondering how to deal with this. – Shaniece
Shaniece,
If you are concerned then you should let the co-worker know. You could become business partners. But you are also letting that person know that you are not sneaking behind their back. Just make sure your business plan is sound.
Good Day Rushion! In my case I have a business plan, sizzle reel and network trailer. However, I am lacking a major contact to pitch a network. Question: what is the best way to make a solid contact and sit down with a key decision maker to take your project under consideration? Here is the reel for my show: https://www.youtube.com/watch?v=Js0FYBSV5r4 – Kevin
Kevin,
I love your energy and the quality of your interviews. However, a lot of the material in your reel is outdated. In order for you to be taken seriously when you are making pitches you must update it with current footage. Once you do this, please resend to me and I will give you my thoughts. The interview with Chuck Brown is one that you should definitely pull since he passed away almost three years ago now.
