Introduction To An Entrepreneurship Cultural Studies Essay
Cardiff Metropolitan University
Name: Adnane Regoug
Module: Introduction to entrepreneurship (Mr.Dahan)
Starting a business dream is a frightening idea for most individuals, in the United States for instance, 44% of people think about starting their own business, but only 1 in 9 thinking about a startup actually attempt to do it since they can’t handle the risk and ambiguity they might plunge in. but this idea can also be a rewarding one but in condition you determine if it is realizable, unique, if you have the financial capacity to create it and if there is a market for it. My business idea has some of the previous conditions but it certainly needs a lot of planning ahead so when the time is right I’ll be ready to carry on my adventure. This essay examines the business idea and analyzes it from different corners in order to find out if it is an opportunity available.
The first things that came to my mind when I thought of a business dream are some random ideas but since doing something you love is the secret to happiness i leaned at the end to the one related to what I’m passionate about and to something that I have some experience in and that I really love.
This business idea is part of the music industry also called music business where a certain company performs several actions such as the creation and recording, distribution and sales, and performance of music, live music and concerts and also the sale of recorded music and music publishing, promotion and management.
The first step of my project is a music school, not a classic one where some vocal teaching programs are taught or where kids learn how to play instruments and so on. This is a music production school but not any kind of music it specializes only in ‘EDM’ a shot for Electronic Dance Music. If you’re not familiar with this music genre the following paragraph will give you an overview you about it and its position right now in the music industry market.
EDM is a combined expression for all kinds of electronic dance music such as House, Techno and Trance music. It has always been an underground genre made for clubs, but recently it grew bigger and bigger through the years till it finally found its way out of that limited and tight space to the mainstream world. Now it has reached every teenager’s iPod and if you look now at the top ten charts of music downloaded or purchased in digital stores it is dominated by EDM tunes or tunes that has its elements such as the recent Rihanna or Pitbull stuff. Also a lot of EDM artists (basically DJ’s) are heading the world largest festivals and events and most investors and now are investing in EDM festivals since they attract the largest and craziest crowds nowadays. Moreover it has reached radios the thing that made it to become familiar to the listeners ears. All of these reasons now made EDM mostly accepted by everyone who never heard of it before. Actually this is the case for America and whatever gets big in America gets big everywhere in the world due to phenomenon of globalization and certainly it has reached Morocco as well.
Back to business, the business name chosen is iRok EDM School while EDM stands for Electronic Dance Music as we mentioned before and iRok is just a commercial name. In the next paragraph we are going to discuss the steps of putting the idea into practice and the plan decided as well as the financial and to operational capabilities.
A business plan is not just a random process it is really essential for your business since it is the road map for you business success, setting goals and objectives and identifying resources required is very useful to plan for a doubtful future.
The first step of staring my idea is something like a trial to see if it could carry well and to find out if the business will grab the attention of people passionate about music. Right now I know some people that really would give money to learn the techniques of creating music, I can start with those but what will I need to do that? Actually nothing. A laptop, headphones, speakers, and most essentially a teacher who is me. 7 years of experience in music production with an immense knowledge in dance music and club culture and recently signed with well know record labels and supported by the biggest DJ’s in the world. With a respectful image in Moroccan electronic music scene students will give me full trust as a music teacher.
Assuming that the trial demonstrated that this business can go really well and the word of mouth played an important role in attracting more students, it is by then the right time to get into the real work!
The first thing to think about is a location that I can customize and turn it into the ideal studio environment for musical practices. The electronic music studio will consist of several equipments and tools such as a full Protools HD and Logic Pro running on the latest Apple Macintosh computers and operating systems. Quested and PMC monitoring to ensure a reliable production environment. A clever interior decoration will be made to the space to affect potential customer’s opinion. Due to the affordability of all the stated elements no funding issues will be raised.
Once the place is ready to host several students it is time for the large announcement and promotion of the business through modern marketing and advertising tools. In t he city of opportunities, Casablanca it is certain that our potential clients does exist.
One of the most effective advertising tools is social networks. Now instead of spending a lot of money on traditional advertising campaigns social networks will allow you to find you targeted community and to be found easily as well.
back in 2007 an electronic music and DJ school was opened in Rabat by two Moroccan DJs it was called red dog if my memory is right it couldn’t carry more than two years or get any bigger since no social networks existed back then and the targeted community wasn’t easy to find also the DJing and producing wasn’t as big as now. Another effective way of advertising we talk about before was word of mouth our clients will pass the information to their friends that has the same interest.
Once we gained several clients and the work is getting charged it is time to think of hiring staff for help, more teachers will be required, this will be easy as I know some very talented producers that would really like to share their experience and develop the musical skill of our clients. Each student advancement will be assessed through several projects that need an ever-increasing technical competence and understanding.
In the future we might think of including other genres courses and the name will be changed into iRok Music School, but since all the other DJ schools existed in Casablanca and Morocco are mainly for Hip Hop and RNB genres we may reject that.
The next step is opening another service a DJ school since electronic music production and DJing are linked together. Nowadays it seems like everybody wants to become a DJ, music has become so easy to get from the internet,
people are downloading thousand of tracks and think that they can become awesome DJs, every day I receive a facebook invitation to like some beginner bedroom DJ page, what’s more funnier is that even Paris Hilton wants to become one (Google it).
Through the profit we’re making we can invest in the assets needed for this service mainly turntables and highly skilled teachers to provide beginners and also the ones familiar with DJing lessons and guidance to encourage and advance their level and make them ready to perform at professional events, clubs and venues or launch a career in the music industry. Here, we will raise our advertising campaign from radio ads to flyers and brochures.
At the same time while the school is running iRok Digital Record Label project will be examined. Starting a record label has become easier than ever before, probably everyday a new label is launched releasing very low quality music. We will plan to launch a quality brand focusing on music and not profit.
One good reason for launching this record label is for releasing the music from the music school, students when they’ll greater their sound level their tracks could get released on this record label, another good is to have control and to decide who can release tracks and when to release them. However the label is open for everyone from all around the world, online promotion will also help to receive demos from new talents from across the globe, we will try to sign tracks from bigger artists as well to promote the record label and to build a strong brand. We will also insist to create personal relationships with artists in order to build a family and to keep our label alive.
Another section will be opened to join the iRok group, always in the music industry and entertainment, in the next paragraph I will talk about it and explain what exactly it is.
The Moroccan nightlife is on fire! From Tangier, Rabat, Casablanca, Marrakech to Agadir every month a new club, lounge or pub is opened with a bigger and better concepts turning them into a sleepless cities and making this country the number one destination for clubbing in Africa.
Through my clubbing experience I met people in this business, one night at Silver Club Marrakech I had a conversation with the Artistic director of the club I complained about the low quality of the DJs performing at the Marrakchi clubs even if they were foreign and been expensively paid and I suggested some names to him some international DJs I admired and he replied that its long process of negotiating with booking agencies and it’s a pain in the neck and that’s where I had the idea of creating a booking agency and provide quality DJs for the Moroccan scene.
iRok Bookings is a booking agency for national and international DJs, with a main focus on Djs/Producer within the electronic dance music community to provide Clubs and Venues nationwide or worldwide with the best DJs and artists for their customers. We will make it quick and simple to find and book DJs for events and we will try to be known for the quality of our acts and the professionalism. The fantastic thing is that among the DJs there are the ones from my music school this is great for even providing them job opportunities. Here, a formal office is needed with computer, printer, phone and fax since we will have some office work to do, will be dealing mostly with contracts. I heard from a booking agent that this business generates good money and that even booking a clown for a child’s birthdays or a band for a bar will get you money.
All these ideas are creating the concept of iRok Group or iRok Music Company or simply iRok operating in the Moroccan music industry. Starting from the music production and DJ school to the record label to the booking agency, all these services will interact together and provide a profitable service to potential clients.
From a more technical corner, if we consider doing a SWOT analysis for the company this what might be the outcome of it.
Growing customer base
Growth of niche market
Cultural mouvements and new technologies
Free online promotion
Limited channels of distribution
Limited target market
Online music piracy
Internet through expanding e-commerce
Increase of music venues
High number of new entrants’ competitors
At the end this is just a dream and if you have to dream then dream big! I didn’t want to Google a business and write everything from the net, I have chosen something that I like and have knowledge in. Will I ever start to live it? I don’t know, anyway it is not the right time for me now, maybe be in the future after developing my entrepreneurial skills, can everyone learn to be an entrepreneur?
An entrepreneur can be defined as someone taking risks to starts his business idea and make it successful. In order to reach this success and to manage and sell his idea effectively he will acquire several skills and characteristics including managing time and people, being adventurous and brave to take risks, being creative, innovative, and motivated, having a sense of competitiveness, having a decent communication skills and public speaking, , having an awareness of law, not being shy of talking about money or borrowing it or even begging since the entrepreneur will certainly need help at the first stages, having a clear vision and to dream and see that he is going there and believe that he can do it. In a society full of criticism an entrepreneur will also need to face criticism and to be strong in order not to give up or feel down, also having a passion for your dream, when you feel some sort of connection and deep care of what you’re doing you will certainly achieve your desire outcome. However being open to learn new skills is always a plus. Alex Ljung for example, when he was a teenager he has always dreamt of becoming a sound engineer, he has always been interested in technology and music. Through the inspiration of Flickr and Wordpress two platforms that enabled people to be creative and with the focus on music and sounds Alex had the idea of creating a simple platform that allows users to upload their music and share it on the web, now it has more than 10 million users and ranked with top music apps. So entrepreneurship is not just for some specific people it is for everybody but they just have to learn how to do it right.
To sum up, this business is quite different, we do not hear about many businesses related to the music industry or probably just in Morocco. The whole idea started from what I consider my hobby, music production that would like to transfer it to others through the music school idea and to keep following the new talents and provide them what they need to kick off a real career in the music industry in order to enrich our Moroccan culture. I have always been fascinated by stars but how about creating stars. At the very end this is still a business dream that can be realized but however needs a load of work and sacrifices or in other words a complete entrepreneurial spirit.