Assignment Description (100% of module) Write a Business Plan (2000 Words +/-10% – online submission)
Draw from your learning in the online seminars, resources provided, and your individual research to write a plan for a music business idea. Writing a business plan will help you to think systematically about how to make your music happen and how to communicate your work professionally. A business plan is often used to solicit financial support and should anticipate questions in the mind of the reader and provide evidence for the case it is making.
Your Business Plan needs to consider the following:
• Your identity (brand) and vision in form of a mission statement.
• Your current status/skills and a product description.
Research into audience and outline of how you will connect with them;
• The work of others (competition and the scene) in order to demonstrate the viability of your
• Marketing strategy including social media (appropriate platforms and analytics);
• Consideration of the impact of COVID-19 on your work and the arts economy;
• Financial planning; start-up costs and profit and loss forecasts.
• SWOT analysis.
You need to provide a marketing strategy as a part of the business plan. Working in the digital domain is crucial, and you should consider which social media platforms are appropriate for your idea and how you will demonstrate understanding of your audiences. Systematic planning will help you to make your vision possible.
Your Business Plan can be for a music related product or service, this may include (but is not limited to) activity such as concerts, gigs or workshops. While your plans may involve contributions from others, joint submission is not allowed, and your work must be your own. If you already have a group, a website or social media following, this is the perfect opportunity to take it to the next level.
The purpose of a business plan is to show how a business will work: what it will sell, who will buy it, how the product will be made, the costs and rewards involved and the potential risks and challenges the business will face. A business plan is often used to solicit financial support. It should anticipate questions and concerns in the mind of the reader and provide evidence for the claims made in it.
Submit your work in a single MS Word document or PDF via Moodle;
Provide links to resource materials and ensure the links are live and that you provide a password where appropriate. Refer to the Trinity Laban citation guide (Chicago sixteenth Edition is acceptable for this module);
Use a writing style that is clear and concise to communicate your ideas; here are some hints: 1
• Construct your sentences so that your audience understands the points that you are putting across;
• Use straightforward language rather than elaborate “fancy” words;
• Avoid technical jargon unless you are sure that your audience will understand;
• Edit your sentences by cutting out surplus words such as pronouns, overuse of to “be” and
Your work will be assessed against the following criteria:
• Knowledge, understanding and critical thinking;
• Organisation, presentation and communication;
• Creative vision, planning and leadership;
• Self-awareness, self-management, group management (including time management)
You will receive feedback and a grade within 21 working days of the submission deadline. All work below 40% and above 70% and a 20% sample of the remaining work will be second marked.