MONTH 6: Entertainment Business Finance
The course Entertainment Business Finance has been covering a wide range of financial aspects I need to take into account when opening my Sport Business. These concepts that I should have in mind involve understanding revenue streams, financing options, budgeting, profit margins, and the risk management I can have if I do not have for example always my total running positive. By being clear about all these financial aspects, we can have a clearer idea of how our business will start and sustain itself during the first year.
In my organization, I will consider the capital budgeting process so that I can evaluate potential major projects or investments that could be significantly beneficial to my business. One of my first capital investments will be purchasing the land and building the organization's infrastructure rather than renting it to another company. But when deciding to undertake this investment, I must ensure that the company will be profitable enough to sustain the monthly payments and maintenance of the property and soccer fields.
Every decision will impact the success of my company. Which is why I must consider opportunity costs in every decision I make. As per the land to organize the soccer fields, and to build the administration and the soccer players’ locker rooms, I will need to analyze and compare all the alternatives, and thus, evaluate the benefits and disadvantages that each land/property could bring to the organization. By considering opportunity costs, I will be able to have a stronger long-term planning, and have in mind the risks and potential consequences of decisions over time.
Another important thing to evaluate is to understand the market I am entering and research and analyze the competitors. From there I will continue to improve the Business Model of my organization, in which I need to have a clear understanding of the entire cost structure that I will have to take into account, and the income flows (revenue streams) that my company will have.
MONTH 9: PROJECT AND TEAM MANAGEMENT
The course of Project and Team Management has been covering a wide range of Project Management aspects I need to take account when organizing projects with my Sport Organization. This concepts that I should have in mind involve understanding how to define my project, how to break down into phases the structure of my project, the parties involved in it, the risk and management I have to have in mind when organizing the organization’s budget, and how to success in each Milestone/Deliverable by organizing the team and quality management.
One of the parts I enjoyed the most was the personality assessments. Personality assessments have been so helpful because they can offer valuable insights into both personal and team dynamics, which is essential in the areas I will need to cover for my project management and leadership. Now I will be able to identify my natural strengths and areas of growth, it will help me refine how to lead and manage projects efficiently, and I will be able to take better approaches when challenges arise or when trying to solve a problem. Another positive side of personality assessments is that I will better understand the communication styles of my team members and thus reduce misunderstandings when working on the project.
With all the knowledge I gained from this class, I will be able to improve the structure of my Business by organizing things by projects to have better organization and clearer growth of my organization.
MONTH 11: BUSINESS PLAN DEVELOPMENT
Business Plan Development Course Applied to my Organization Athletic Club Oviedo
Before enrolling in the Business Plan Development course, my primary goal was to learn how to create a structured and strategic business plan that would help establish and grow my soccer organization, Athletic Club Oviedo. I anticipated that the course would focus on financial planning, market research, and general business principles. However, as I progressed, I realized that the course provided not only the technical framework for a solid business plan but also strategic insights that could directly impact my club’s growth and success.
Original Goal and How It Was Met
My initial goal for this course was to develop a comprehensive business plan that would serve as a roadmap for Athletic Club Oviedo. I expected to gain insight into structuring the club’s finances, identifying our target audience, and creating a sustainable growth model. The course met this goal by breaking down each component of a business plan and allowing me to apply it directly to my soccer organization. Through financial forecasting, competitive analysis, and strategic planning, I was able to refine the vision for the club and ensure long-term viability.
Evolution of Insight, Skills, and Outcomes
Throughout the course, my understanding of business planning evolved significantly. Initially, I viewed a business plan as a necessary document for funding opportunities. However, I came to see it as a strategic tool that helps define the club’s mission, operational structure, revenue streams, and competitive advantage. My skills in financial forecasting, sponsorship negotiations, and marketing strategies improved substantially. By the end of the course, I had a clear understanding of how to position Athletic Club Oviedo as a competitive and financially stable soccer organization.
Key Takeaways from the Course
Several key lessons from this course will be instrumental in the success of Athletic Club Oviedo such as,
Financial Planning: Developing accurate financial projections and creating multiple revenue streams, including sponsorships, membership fees, and training programs.
Market Research & Branding: Understanding our target market—young athletes and their families and building a strong brand that differentiates the club from competitors.
Sponsorship & Partnerships: Learning how to effectively pitch to potential sponsors and create mutually beneficial agreements to support club operations.
Operational Efficiency: Structuring the club’s management, coaching staff, and administrative processes to optimize performance and scalability.
Application of Knowledge to Athletic Club Oviedo
The knowledge gained from this course will be directly applied to the expansion and success of the organization Athletic Club Oviedo. Some of them will be,
Creating a Formal Business Plan: Using the course framework, I have developed a professional business plan that can be presented to potential investors, sponsors, and grant providers.
Enhancing Revenue Streams: Implementing structured membership plans, merchandise sales, and sponsorship packages to create sustainable financial growth.
Marketing & Community Engagement: Leveraging digital marketing strategies and community outreach to increase visibility and attract new players.
Risk Management & Contingency Planning: Developing strategies to address potential challenges such as economic downturns, player retention issues, and competition from other clubs.
The Business Plan Development course has been instrumental in refining my vision for Athletic Club Oviedo and providing me with the tools to make it a successful, well-structured organization. What began as a simple idea has now transformed into a fully developed business strategy. By applying the principles of financial planning, marketing, and strategic development, I am confident that Athletic Club Oviedo will not only grow but also thrive as a leading soccer organization.
MONTH 12: Final Project - Business Plan
Throughout the Entertainment Business Mastery (EBMS) Program, I have gained valuable skills in leadership, finance, marketing, and operations, all of which have prepared me for a successful career in sports and entertainment business. In Personal Development and Leadership, I developed self-awareness and resilience, refining my leadership style and strategic mindset. Executive Leadership enhanced my ability to make high-level decisions and build high-performing teams. Through Business Storytelling and Brand Development, I mastered the art of crafting compelling brand narratives, which I applied to the branding strategy for Athletic Club Oviedo. Sports Management and Operations provided me with insights into facility management, player recruitment, and revenue optimization, all of which helped me structure the operations of my soccer organization. In Entertainment Business Finance, I learned how to create Pro Forma Financial Statements, build a sustainable financial model, and secure funding. Digital Marketingand Sports Marketing and Sponsorship Sales allowed me to refine strategies for social media engagement, sponsorship acquisition, and audience growth, helping me develop a strong online presence for my business. Negotiation and Deal-Making prepared me to secure partnerships and sponsorships, while Legal Issues in Sportsensured I understood contract law, compliance, and athlete rights to protect my organization. Project and Team Management gave me the ability to lead effectively and execute my vision with structured processes, and Business Plan Development helped me integrate all these components into a polished investor-ready business plan. Finally, in my Final Project, I successfully developed and presented a comprehensive business plan for Athletic Club Oviedo, incorporating insights from industry professionals and ensuring financial sustainability. The program has equipped me with the expertise to launch, grow, and scale a sports business, positioning me for success in entrepreneurship, leadership, and strategic business management.